Surgical Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Surgical Instruments Market Analysis & Overview. The Market is Segmented by Product (Handheld Devices, Powered and Electrosurgical Devices and Sutures, and Staplers), Application (Obstetrics and Gynecology, Orthopedics, Cardiovascular, Neurology, Plastic and Reconstructive Surgeries, and Other Applications), End User (Hospitals, Ambulatory Surgical Centers, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market size and forecasts are provided in terms of value (in USD million) for the above segments.

Surgical Equipment Market Size

Surgical Equipment Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 8.50 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Surgical Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Surgical Equipment Market Analysis

The surgical equipment market is projected to register a CAGR of 8.5% during the forecast period, 2022-2027.

The COVID-19 pandemic has been continuing to transform the growth of various markets. However, the immediate impact of the outbreak varied across countries. The COVID-19 outbreak worldwide and the lockdown situation across some countries have posed challenges for the surgical equipment market due to postponements of surgical services by hospitals and clinics to prevent the spread of the COVID-19 virus. For instance, in April 2022, Nova Scotia's QEII Health Sciences Centre decided to postpone most non-urgent and elective surgeries due to an increasing number and understanding of patients with COVID-19 in the hospital. Such factors are likely to hurt the demand for surgical equipment. These cancellations created a backlog that may need to be cleared after the COVID-19 disruption calms down. As a result, the demand for surgical equipment is expected to witness growth shortly, which could expand the development of the market over the coming years. For instance, in April 2022, the Victorian government reported investing USD 1.5 billion to address its growing elective surgery waitlist as part of a catch-up scheme that will increase surgical capacity by one quarter. The COVID Catch-Up Plan will raise capacity to 125 percent in 2023, with 40,000 additional surgeries in the next year.

Further, the significant factors propelling the market's growth are the rising geriatric population, the increasing number of surgeries, technological advancements, and the growing number of road and other accidents.

For instance, as per a September 2020 published article titled "Estimation of the National Surgical Needs in India by Enumerating the Surgical Procedures in an Urban Community Under Universal Health Coverage," an estimated 5,000 surgeries are required to meet the surgical burden of diseases of 100,000 people in low- and middle-income countries (LMICs). Additionally, as per the same source, the reported rates of surgery vary from 295 in low- and middle-income countries (LMICs) to 23,000 in high-income countries (HIC) per 100,000 population. Moreover, per the Organization for Economic Cooperation and Development (OECD), the number of cataract surgical procedures reported in 2020 in Turkey was 393,901. According to the same source, the number of hip replacement procedures in Italy in 2020 was 84,647, and cesarean section procedures were approximately 114,601. Thus, this growth in the number of surgical procedures will likely increase the demand for surgical equipment, thereby contributing to market growth.

Technological advancements are also boosting the market's growth. For instance, in March 2022, the British Deputy High Commission in Chennai, India, unveiled the Freehand Robot, the first of its kind in laparoscopic surgical equipment. However, infections associated with the equipment used and stringent regulatory scenarios are expected to hamper the growth of the surgical equipment market.

Surgical Equipment Market Trends

This section covers the major market trends shaping the Surgical Equipment Market according to our research experts:

Powered and Electrosurgical Segment Holds Significant Share in Surgical Equipment Market

The powdered and electrosurgical devices segment is expected to hold a significant market share by product. The major factors fuelling the segment's growth are the increasing number of product launches, growing technological advancements, and the rising number of surgical procedures using electrosurgical devices. Powered and electrosurgical devices are used to incise tissue, destroy tissue through desiccation, and control bleeding by causing the coagulation of blood. Electrosurgical devices are used primarily in cholecystectomy procedures.

Several countries are also experiencing a rise in surgical procedures, owing to the rising burden of non-communicable diseases and injuries. For instance, per the Organization for Economic Co-operation and Development (OECD), in 2020, 54,836 laparoscopic cholecystectomy procedures were performed in Denmark, and in Costa Rica, the number of courses was 30,031. Numerous companies implement strategic initiatives, thereby contributing to the segment's growth. For instance, in June 2021, Ethicon (Johnson & Johnson) launched the ENSEAL X1 Curved Jaw Tissue Sealer. This advanced bipolar energy device increases procedural efficiency and provides more robust sealing and better access to more tissue than LigaSure Maryland. This device is indicated for colorectal, gynecological, bariatric, and thoracic procedures.

Thus, the segment is expected to witness significant growth over the forecast period due to the abovementioned factors.

Surgical Equipment Market: Number of Cholecystectomy Procedures (In Thousands), By Country, 2020

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

Within North America, the United States has held a significant share of the market. This is due to the increasing geriatric population, a large patient population, and a growing number of various surgical procedures as surgical equipment are widely used in gynecology, abdominal surgeries, cardiothoracic and orthopedic surgeries, among others.

According to the estimates of GLOBOCAN, in 2020, there were an estimated 2,281,658 new cancer cases diagnosed and 612,390 deaths due to cancer in the United States. The most common cancers in the United States are breast, lung, prostate, colorectum, bladder, and skin cancer. Also, according to a September 2020 update by the Centers for Disease Control and Prevention (CDC), heart diseases are the leading cause of death in the United States. The same source also reports that about 805,000 Americans have a heart attack every year. Since the mortality due to heart diseases is increasing, there is a continuous need for surgical procedures to avoid fatalities. Furthermore, per a 2020 report by the American Society of Plastic Surgeons, a total of 15.6 million cosmetic procedures were performed in 2020 in the United States.

Also, the increasing number of regional product launches is boosting the market's growth. For instance, in July 2021, Healthmark Industries acquired McGan Technology LLC, which offers insulation testing devices designed to electrically test electrosurgical instruments, which helps eliminate incidents involving electric shocks due to inadequate surgical device insulation.

Thus, the market is expected to witness significant growth over the forecast period due to the above-mentioned factors.

Surgical Equipment Market - Growth Rate by Region

Surgical Equipment Industry Overview

The surgical equipment market is very competitive, with most players competing to increase market shares. Intense competition and rapid technological advancements are key factors that confront the market. Some of the major players in the market are Olympus Corporation, Stryker Corporation, B Braun Melsungen AG, CONMED Corporation, and Cadence.

Surgical Equipment Market Leaders

  1. CONMED Corporation

  2. Olympus Corporation

  3. Stryker Corporation

  4. B Braun Melsungen AG

  5. Cadence

*Disclaimer: Major Players sorted in no particular order

Surgical Equipment Market Concentration
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Surgical Equipment Market News

  • In June 2022, Xenco Medical expanded its Ambulatory Surgical Centers surgical device portfolio through the United States Food and Drug Administration clearance and launch of its Multilevel CerviKit. It is single-use cervical spine technology to include a comprehensive suite of implants and single-use instruments for 2, 3, and 4-level anterior cervical spine procedures.
  • In June 2022, Ethicon, part of Johnson & Johnson MedTech, launched the ECHELON 3000 Stapler in the United States. It is a digitally enabled device that provides surgeons with simple, one-handed powered articulation to help address the unique needs of their patients.

Surgical Equipment Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Geriatric Population with Increasing Number of Surgeries

      2. 4.2.2 Growing Technological Advances

      3. 4.2.3 Rising Number of Road and Other Accidents

    3. 4.3 Market Restraints

      1. 4.3.1 Increased Risk of Infections

      2. 4.3.2 Stringent Safety Regulations

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value- USD million)

    1. 5.1 By Product

      1. 5.1.1 Handheld Devices

      2. 5.1.2 Powered and Electrosurgical Devices

      3. 5.1.3 Sutures and Staplers

    2. 5.2 By Application

      1. 5.2.1 Obstetrics and Gynecology

      2. 5.2.2 Orthopedics

      3. 5.2.3 Cardiovascular

      4. 5.2.4 Neurology

      5. 5.2.5 Plastic and Reconstructive Surgeries

      6. 5.2.6 Other Applications

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Ambulatory Surgical Centers

      3. 5.3.3 Other End Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. United States

        2. Canada

        3. Mexico

      2. 5.4.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Spain

        6. Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. South Korea

        6. Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. GCC

        2. South Africa

        3. Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. Brazil

        2. Argentina

        3. Rest of South America


    1. 6.1 Company Profiles

      1. 6.1.1 B Braun Melsungen AG

      2. 6.1.2 Boston Scientific Corporation

      3. 6.1.3 Cadence

      4. 6.1.4 CONMED Corporation

      5. 6.1.5 Medtronic PLC

      6. 6.1.6 Olympus Corporation

      7. 6.1.7 Siemens Healthineers

      8. 6.1.8 Smith & Nephew

      9. 6.1.9 Stryker Corporation

      10. 6.1.10 Johnson & Johnson (Ethicon)

      11. 6.1.11 Zimmer Biomet

      12. 6.1.12 Frankenman International Limited

      13. 6.1.13 Intuitive Surgical Inc.

      14. 6.1.14 Meril Life Science Pvt. Ltd

      15. 6.1.15 3M Company

    2. *List Not Exhaustive

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments
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Surgical Equipment Industry Segmentation

As per the scope of this report, surgical equipment is functionally designed for the operating room to centralize all surgical support equipment and utility services. Surgical equipment is a specially designed tool that performs actions during surgery or operation. The surgical equipment market is segmented by product (handheld devices, powered and electrosurgical devices, and sutures and staplers), application (obstetrics and gynecology, orthopedics, cardiovascular, neurology, plastic and reconstructive surgeries, and other applications), end user (hospitals, ambulatory surgical centers, and other end users) and geography (North America, Europe, Asia Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above segments.

By Product
Handheld Devices
Powered and Electrosurgical Devices
Sutures and Staplers
By Application
Obstetrics and Gynecology
Plastic and Reconstructive Surgeries
Other Applications
By End User
Ambulatory Surgical Centers
Other End Users
North America
United States
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Middle-East and Africa
South Africa
Rest of Middle-East and Africa
South America
Rest of South America
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Surgical Equipment Market Research FAQs

The Global Surgical Equipment Market is projected to register a CAGR of 8.5% during the forecast period (2024-2029)

CONMED Corporation, Olympus Corporation, Stryker Corporation, B Braun Melsungen AG and Cadence are the major companies operating in the Global Surgical Equipment Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Global Surgical Equipment Market.

The report covers the Global Surgical Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Surgical Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Surgical Equipment Industry Report

Statistics for the 2024 Surgical Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Surgical Equipment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Surgical Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)