U.S.-based market research firm Transparency Market Research has announced the release of a new market report. The report, based on the global surgical equipment market and titled “Surgical Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”, analyzes the segmentation of the global surgical equipment market by various criteria.
It includes the historical statistics regarding the growth of the market in the review period, the present market dynamics governing the growth of the market, and future projections based on data gained from the same.The global surgical devices market was worth US$8.43 billion in 2012 and is expected to grow at a CAGR of 4.2%. The market will total US$11.28 billion in 2019.The market is boosted by the increase in the number of surgeries around the world. Increasing number of road and other accidents, growing geriatric population, and the advent of minimally invasive surgical procedures have helped increase the need for surgical devices from both developed and developing regions.
Technological innovation resulting in sophisticated minimally invasive equipment is expected to shape the market in the coming years, with demand for increasing sophistication in surgical devices, which results in greater convenience for both surgeons administering the procedure and patients being operated upon, expected to heavily influence the competitive landscape of the global market.On the other hand, the prevalent preference for wound closure materials such as glues and other medical sealants is expected to block off one end of progress for the surgical devices market. Such materials bring about a more organic recovery of the wounds than surgical devices and are thus more in demand.
Of the various products on offer in the global surgical devices market, surgical sutures and staples took up more than 55% of the global market in 2012. However, due to approaching maturation of several regional markets and inapplicability of sutures and staples in minimally invasive procedures, the segment is expected to lose market share to electrosurgical devices in the forecast period. The other major product segment in the global surgical devices market is surgical handheld instruments, the demand for which is expected to remain stable through the forecast period and occupy a minor share of the market.Growing public investment in the healthcare sector in Asia Pacific and Latin America is expected to boost demand for surgical devices from these emerging regions.
This is a major trend expected to influence the geographical segmentation of the global surgical devices market, which is presently dominated by North America and Europe.Apart from determinant factors affecting the growth trajectory of the market, the report also describes the major companies operating in the surgical devices market, business profiles, recent developments, and product catalogs of major players is detailed in the report, providing a comprehensive snapshot of the competitive landscape of the global surgery devices.
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