Top Growth Trends in the Surgical Equipment Market: Key Insights and Opportunities for 2025-2034
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How Does the Projected Growth of the Surgical Equipment Market Compare Over the Forecast Period?
In recent years, there has been a rapid expansion in the size of the surgical equipment market. From $34.38 billion in 2024, its expected to increase to $38.16 billion in 2025, a compound annual growth rate (CAGR) of 11.0%. The growth noted in the previous period can be traced back to factors such as the globalization of medical tourism, the surge in the number of ambulatory surgery centers, significant government investments in healthcare infrastructure, a focus on executing infection control measures, along with various training and education programs.
The market size for surgical equipment is projected to witness substantial growth in the upcoming years, reaching a valuation of $53.26 billion in 2029 with an estimated compound annual growth rate (CAGR) of 8.7%. Factors contributing to this growth in the prediction period are the rising demand for elective surgeries, emphasis on outpatient surgical care, preparation for global health crises, patient-focused healthcare, attention to environmental sustainability, and regulatory harmonization. Key trends expected during the forecast period include advancements in robot-assisted surgery, application of augmented reality (AR) in surgical procedures, developments in remote and telesurgery, customization of surgical tools, and the emergence of intelligent implants and prosthetics.
Which Macro and Microeconomic Factors Are Accelerating the Growth of the surgical equipment Market?
The surgical equipment market is projected to expand due to the escalating preference for minimally invasive surgery (MIS) – a type of surgery requiring less significant incisions than traditional or open surgical methods. The shift towards MIS can be attributed to its various benefits, including quicker healing and recovery periods, lesser scarring, cost-effectiveness, reduced pain and trauma, as well as a lower propensity for infections and other complications. The inception of advanced surgical equipment like Da Vinci surgical systems, C-arm devices, and electrosurgical and power-assisted surgical kit, a result of strides in medical technology, facilitates MIS. Such devices are anticipated to spur the growth of the surgical equipment market during the forecast timeframe.
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Who Are the Key Players Steering the Development of the Surgical Equipment Market?
Major companies operating in the surgical equipment market include:
• Johnson & Johnson (J&J)
• Abbott Laboratories
• Cousin Surgery LLC
• 3M Company
• Medtronic PLC
How Are Consumer Trends Shaping the Current and Future Landscape of the Surgical Equipment Market?
Leading companies in the surgical equipment market are focusing their efforts on the creation of ground-breaking products like TrueDent resin to bolster their market profitability. TrueDent is an FDA-approved (Class II) patented resin specifically formulated for the 3D printing of items such as dentures, temporary crowns, and bridges on the J5 DentaJet platform. In February 2023, Stratasys Ltd., an additive manufacturer based in the US, unveiled TrueDent resin, marking the firm’s first FDA-approved medical device. TrueDent resin is a light-sensitive material created for 3D printing, primarily for aesthetic monolithic dentures as well as temporary crowns and bridges using the J5 DentaJet platform. The resin allows for the precise creation and heightened aesthetic appeal of full and partial dentures, enabling patients to receive well-fitting, durable and highly effective dentures.
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Which Industry Segments Are Leading the Development and Expansion of the Surgical Equipment Market?
The surgical equipment market covered in this report is segmented –
1) By Type: Surgical Sutures And Staples, Handheld Surgical Devices And Equipment, Electrosurgical Devices And Equipment
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
3) By Type Of Expenditure: Public, Private
4) By Product: Instruments Or Equipment, Disposables
Subsegments:
1) By Surgical Sutures And Staples: Absorbable Sutures, Non-Absorbable Sutures, Surgical Staples
2) By Handheld Surgical Devices And Equipment: Scalpels, Scissors, Forceps, Needle Holders
3) By Electrosurgical Devices And Equipment: Electrosurgical Generators, Electrosurgical Pens, Monopolar And Bipolar Electrodes
Which Geographical Regions Are Shaping the Surgical Equipment Market Growth?
North America was the largest region in the global surgical equipment market in 2024. Western Europe was the second-largest region in the global surgical equipment market. The regions covered in the surgical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Are the Key Characteristics That Define the Surgical Equipment Market?
Surgical equipment is a set of tools or devices that perform such functions as cutting, dissecting, grasping, holding, retracting, or suturing. Most surgical instruments are made of stainless steel.
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