Market Size of Surgical Blades Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Surgical Blades Market Analysis
Over the next few years, the market for surgical blades is expected to register a CAGR of 4.3%.
The COVID-19 pandemic was an unprecedented health concern and adversely affected various surgical procedures. Due to the regulatory authorities' strict guidance to prevent any non-emergent surgeries, the volume of surgeries drastically decreased throughout the pandemic. According to the study published in October 2021 by the National Library of Medicine worldwide, there has been a 42.8% decrease in general surgery admissions. Thus, the reduction in the number of surgical procedures during the COVID-19 pandemic affected the market's growth. However, the postponed surgeries resumed worldwide, driving the market's growth during the post-pandemic period. The number of surgical procedures due to trauma, hip and knee replacements, and chronic diseases such as cardiovascular diseases where surgery is mandatory is growing. For instance, as per the research study published in June 2021 by the Journal of Thoracic and Cardiovascular Surgery, a total of 92,809 operations were classified as "heart surgery procedures" in the classical sense, of which 29,444 were isolated coronary artery bypass grafting procedures, 35,469 were isolated heart valve procedures, and the number of isolated heart transplantations increased by 2% to 340. The restrictions caused by the pandemic in its initial phase led to a decrease in surgical cases, reducing the demand for surgical blades. However, the market is gradually stabilizing as COVID-19 cases decline and the number of heart procedures and operations is increasing, thus boosting the growth of the surgical blades market.
Factors driving the market's growth include an increasing number of surgeries and rising healthcare expenditures. According to the data published by the HSRA in March 2022, about 40,000 organ transplants were performed in the United States in 2021. In addition, 26,670 kidney transplants and 9,236 live transplants were performed in the United States in 2021. Furthermore, according to a National Library of Medicine article, nearly nine major surgeries were performed annually for every 100 older people in the United States in July 2021, and more than one in every seven Medicare beneficiaries underwent a major surgery over five years, representing nearly 5 million unique older people.Thus, an increase in surgical cases is expected to increase the demand for surgical blades, hence driving the market.
Various initiatives taken by the key market players, such as product launches, mergers, acquisitions, and partnerships, are expected to boost the market's growth during the forecast period. For instance, in June 2021, Aspen Surgical Products Inc., a provider of surgical disposable products, announced the acquisition of Stork, a division of Briggs Healthcare. Over the next few years, these kinds of changes are likely to make the market grow.
The above-mentioned factors are expected to drive the market's growth across the world. However, a lack of skilled professionals is expected to hamper the growth of the surgical blade market during the forecast period.
