General Surgical Devices Market Comprehensive Study Explores Huge Revenue Scope in Future
Surgical devices are types of instruments that are used for performing numerous forms of surgeries in accordance to the complexity of the surgery like minimally invasive, open, or other types of surgery. The General Surgical Devices Market is anticipated to reach USD 15.1 Billion by 2030 at 8.60% CAGR during the forecast period 2022-2030.
As per the research conducted by Market Research Future (MRFR), the market is identified to be influenced by numerous factors. The high demand centered around disposable supplies like catheters, syringes, and needles, the growing awareness concerning diseases being transmitted through surgical forms of devices, and favorable government regulations in ensuring or maintaining safety in surgical procedures are expected to stimulate a positive demand for disposable products, thereby pushing the overall general surgical devices market. An influx of global health initiatives causing advancement in surgical procedures are expected to drive the global general surgical devices market. However, factors like strict government regulations in developing nations and improper reimbursement for surgical devices can cause the market to falter in terms of growth.
Competitive Landscape
The global general surgical devices market comprises of numerous players. A few of them identified in the report are 3M Healthcare (U.S.), Johnson & Johnson Services, Inc. (U.S.), B. Braun Melsungen AG (Germany), Grifols (Spain), SOFINA s.a (Biomérieux) (U.S.), Erbe Elektromedizin GmbH (Germany), Integra LifeSciences (U.S.), Medtronic Plc. (U.S.), Smith & Nephew (U.S.), Stryker Corporation (U.S.), Maquet Holding B.V. & CO. KG. (Germany), CareFusion Corporation (U.S.), Becton, Dickinson and Company (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Conmed Corporation (U.S.), Accuray Incorporated (U.S), Boston Scientific Corporation (U.S.), Ortho-Clinical Diagnostics, Inc. (U.S.), Intuitive Surgical Inc. (U.S.), Siemens Healthcare GmbH (Germany), Cadence Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Virtual Incision Corporation (U.S.), Titan Medical (Canada), Medrobotics Corporation (U.S.), TransEnterix Surgical (U.S.), Olympus Corporations (U.S.), Verb Surgical (U.S.), Meere Company (U.S.), and others.
Market Segmentation
The global general surgical devices market segmentation is done on the basis of application, type, product, and end-user.
By type, the market includes energy-based and powered instrument, disposable surgical supplies, minimally invasive surgery instruments, surgical instruments, medical robotics, open surgery instrument, computer-assisted surgery devices, and others.
By product, the market includes electrosurgical devices, trocars and access devices, handheld devices, wound closure devices, laparoscopic devices, and others.
By application, the market comprises thoracic surgery, ophthalmology, plastic surgery, orthopedic surgery, cardiology, neurosurgery, audiology, into wound care, urology and gynecology surgery, and others.
By end-user, the market includes research centers, diagnostic centers, hospitals, academic institutes, clinics, and others.
Regional Analysis
The global general surgical devices market is geographically segmented across the following regions: Europe, America, Asia Pacific, and the Middle East and Africa.
The Americas dominate the global market with the highest share percentage and is expected to further maintain its standings in the forthcoming years. This is due to the vast presence of key players, a striking number of surgical procedures, favorable reimbursement policies, and various initiatives undertaken by the government for providing training sessions as well as access to advanced devices for physicians.
The Asia Pacific region is projected to grow at the maximum pace during the forecast period owing to growing investments alongside the regional expansion. The Middle East and Africa region boasts the potential to emerge out as a big production hub for large-scale development and medical devices. This is due to the low cost associated with product development here in this region.
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