The Business Research Company’s market reports offer an in-depth analysis on the market’s growth potential, major drivers, key trends and more.

Overview of Market Growth

• Market Expansion: The surgical equipment market has experienced significant growth, with the market size increasing from $29.98 billion in 2023 to $32.5 billion in 2024, representing a compound annual growth rate (CAGR) of 8.4%.
• Key Drivers: The historic growth is attributed to the globalization of medical tourism, the rise of ambulatory surgery centers, government investments in healthcare infrastructure, a focus on infection control measures, and robust training and education programs.

Future Market Projections

• Continued Growth: The market is projected to reach $43.45 billion by 2028, with a CAGR of 7.5%.
• Drivers of Future Growth:
  • Increased demand for elective surgeries
  • Focus on outpatient surgical care
  • Global health crisis preparedness
  • Patient-centric healthcare
  • Emphasis on environmental sustainability
  • Regulatory harmonization

Read More On The Surgical Equipment Market Report 2024 – https://www.thebusinessresearchcompany.com/report/surgical-equipment-global-market-report

Trends Shaping the Future

• Technological Advancements:
  • Robot-assisted surgery
  • Augmented Reality (AR) in surgery
  • Remote and telesurgery
  • Customized surgical instruments
  • Smart implants and prosthetics

The Surge in Minimally Invasive Surgery (MIS)

• Growing Demand: MIS, characterized by minimal incisions, has gained popularity due to:
  • Shorter healing and recovery times
  • Minimal scarring
  • Cost-effectiveness
  • Reduced trauma and pain
  • Decreased risk of infections and complications
• Technological Innovations: Development of advanced surgical equipment like Da Vinci surgical systems, C-arm devices, and electrosurgical and power-assisted surgical equipment supports the MIS trend.
• Market Impact: The preference for MIS will continue to drive the demand for advanced surgical equipment, propelling market growth.

Key Players in the Market

• Major Companies:
  • Johnson & Johnson (J&J)
  • Abbott Laboratories
  • Cousin Surgery LLC
  • 3M Company
  • Medtronic PLC
  • Becton Dickinson and Company
  • Philips
  • Stryker Corporation
  • GE Healthcare
  • Meril Life Science Pvt. Ltd.
  • Ethicon Inc.
  • Sonova Holding AG
  • ResMed
  • Cadence
  • Getinge Group
  • Integra LifeSciences Holdings Corporation
  • CONMED Corporation
  • KLS Martin Group
  • Aspen Surgical Products Inc.
  • Frankenman International Limited
  • Fuhrmann GmbH
  • Entrhal Medical GmbH

Innovation in 3D Printing

• Focus on Innovation: Companies are focusing on developing innovative products like TrueDent resin to enhance profitability.
• Case Study – TrueDent Resin:
  • Introduction: Launched by Stratasys Ltd. in February 2023, TrueDent resin is an FDA-cleared (Class II) patented resin for 3D printing dentures, temporary crowns, and bridges.
  • Platform: Designed for the J5 DentaJet platform.
  • Benefits: Facilitates the production of precise, aesthetically pleasing monolithic dentures, ensuring a good fit, form, and function.

Market Segmentation

• By Type:
  • Surgical Sutures and Staples
  • Handheld Surgical Devices and Equipment
  • Electrosurgical Devices and Equipment
• By End User:
  • Hospitals and Clinics
  • Diagnostic Laboratories
  • Other End Users
• By Type of Expenditure:
  • Public
  • Private
• By Product:
  • Instruments/Equipment
  • Disposables

Regional Insights

• North America: Held the largest market share in the global surgical equipment market in 2023.

The surgical equipment market is poised for continued robust growth, driven by technological innovations, increasing demand for minimally invasive surgeries, and strategic developments by key market players. As the industry evolves, advancements like 3D printing and robotic surgery will play a critical role in shaping its future.

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