General Surgical Devices Market By Type, Technology and By Region

According to the report “Global General Surgical Devices Market,” published by Market Data Forecast, the global market is projected to reach USD 12.24 billion by 2021 from USD 7.53 billion in 2016, at a CAGR of 10.2% from 2016 to 2021.Demand for advanced devices is growing steadily due to heightened awareness levels of newer technologies and the subsequent increase in the adoption of minimally invasive and computer-assisted treatments.
Technological development in the industry is favoring the emergence of minimally invasive procedures, thereby increasing patient safety and shortening hospital stays. Several technological changes have been witnessed in varied segments of abdominal and hernia surgeries; cardiac, trauma and burn surgeries; and in breast and plastic surgeries. For instance, thymectomy is a newly developed procedure for my asthenia gravis patients.

Globally, rise in the number of procedures is one of the key factors driving the overall market. According to a study, general surgery accounts for an average 8% of all procedures in ambulatory surgical centers nationwide.

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Global General Surgical Devices Market: Drivers & Restraints

The rapid growth in general surgical devices market is primarily driven by the factors such as rising demand due to rising number of surgical procedures with rising prevalence & incidence of various chronic diseases accompanied by increasing ageing population. Moreover, increasing healthcare expenditure, increasing demand for technologically advanced minimal invasive surgical procedures and rising demand for plastic and reconstructive surgery are further expected to boost to the market growth during the forecast period. However, price competition in the industry is one of the factors holding back the growth. Stringent government regulations and lack of proper reimbursement for surgical equipment may also hamper the market growth during the forecast period.

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Global General Surgical Devices market: Segmentation

Type
• Callipers
• Forceps
• Suction Tubes
• Scissors
• Probes
• Handles
• Needle Holders
• Speculums
• Clamps
• Distractors
• Retractors
• Tendon Strippers
• Clips
• Sutures
• Catheters
• Approximators
• Others

Technology
• Electrosurgical Equipment
• Wireless Surgical Equipment
• Manual Surgical Equipment

End-Users
• Clinics
• Hospitals
• Others

From simple data collation through secondary and primary research toad-hoc research requests relating to specific information, we provide our services via customization.

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Global General Surgical Devices market: Overview
Surgical sutures held the larger share than staples in 2012. The two major types of sutures are absorbable and non-absorbable sutures depending on the body’s ability to degrade and absorb the suture materials over time. Absorbable sutures are in greater demand over non-absorbable sutures owing to their increasing adoption across most surgical procedures except those which require permanent sutures or long-term care. The surgical handheld instruments market includes scalpels, forceps, retractors and scissors. Electrosurgical devices include radiofrequency generators, instruments and other accessories, which are used during various surgical procedures to cut, cauterize, coagulate and ligate tissues and luminal structures by utilizing high frequency electric current.

Owing to advantages such as precise incision, minimal blood loss, reduced post-surgery complications and side effects, faster recovery span and shorter duration of hospital stay; minimally invasive procedures are experiencing greater demand across all medical specialties. Burgeoning demand for minimally invasive procedures is likely to trigger market growth for electrosurgical devices. Some other factors expected to drive market growth include continuous increase in the number of surgical procedures, rapidly increasing elderly population and technological advances in the area of product development. The market for surgical sutures and staples faces significant threat from advanced wound closure materials such as glues, fibrin, high-strength medical adhesives and other sealants, as these products are actively adopted by surgeons and healthcare providers owing to associated benefits such as less healing time, reduced blood loss and improved clinical outcomes. One of the clauses of the U.S. Patient Protection and Affordable Care Act (PPACA) that reveals an excise tax of 2.3% on medical devices may serve the overall market as a restraint as it will impose an extra burden on medical device manufacturers.

Global General Surgical Devices market: Region-wise Outlook
On the basis of geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. Electrosurgical devices segments is expected to register the fastest growth during the forecast period owing to the rising demand for these devices among growing number of minimal invasive surgical procedures. The growth in North America and Europe was driven by advent of new technologies, favorable regulatory framework, growing ageing population, and high disposable income of consumer population. However, Asia-pacific is expected to experience significant growth due to advancing medical tourism industry, increasing willingness to undergo surgical procedures, increase in prevalence of chronic diseases that require surgical procedures and improving healthcare infrastructure.

Key Questions Answered

• What is the current and future General Surgical Devices market outlook worldwide? What trends are affecting the Global market?

• What is the competitive landscape and market share of major players in the General Surgical Devices space globally?

• What are the key, high growth markets that General Surgical Devices manufacturers should expand into? Which market segments are growing the fastest?

• What are the unmet needs with the General Surgical Devices currently on the market? How will emerging technologies fulfil these unmet needs?

• What is physician perception and market outlook General Surgical Devices?
• What are the challenges and barriers that have hindered widespread adoption of General Surgical Devices?

Global General Surgical Devices market: Key Players

The key players in this market include Medtronic Plc., Stryker Corporation, Johnsons And Johnsons, Conmed Corporation, Alcon Laboratories Inc., Smith & Nephew PLC, Zimmer Holdings Inc., Boston Scientific Corporation, B. Braun Melsungen AG, KLS Martin Group, Olympus Corporation, Applied Medical Resources Corporation, Microline Surgicals, Inc., Karl Storz GmbH & Co. Kg, Cook Medical Incorporated, and Teleflex Incorporated.

Reasons to buy Global General Surgical Devices market Report:

•Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering

• Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail

•Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

•Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses

•A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment

•Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

•Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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