Global Surgical equipment/instruments Market study offers detail overview of industry with all the requisite data to support tactical business decisions and come up with strategic growth plans. This study also proposes a comprehensive insight into the development policies and plans in addition to manufacturing processes and cost structures.
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global Surgical equipment/instruments market and its commercial landscape.
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equipment/instruments market and their impact in the global market.
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Surgical equipment/instruments market strategies that are being adopted by
leading respective organizations.
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Global surgical
equipment/instruments market was valued at USD 10.5 billion in 2016 and is
expected to reach a value of USD 20.3 billion by 2025. Global surgical
equipment market is expected to experience brisk growth due to rise in demand
for nominal hostile surgeries over the forecast period. Novel technologies such
as robot and power assisted medical tools introduction in recent past is
estimated to further enhance industry growth.
Surgical tools are
medicinal devices that serve some specific need during any surgery. These
devices allow the physical alteration of biological tissue to deliver access to
internal body parts. This equipment’s are tools that are used to complete
functions such as suturing cutting, holding, dissecting, retracting, or grasping.
These instruments are hand handled or sometimes power based robotic devices.
Technologies viz. robotic based medical devices and minimally invasive medical
equipment development are presumed to be key driving factors for the surgical
equipment market. Rise in aged population coupled with increase in medical
processes is estimated to fuel the growth over the forecast period.
Modernization in operating devices which provide improved & better outcomes
along with increase in demand for less complicated procedures are some
important success factors that are expected to contribute for the global growth
over the six year period. Growth in adaptation and approval for arthroscopy and
minimal invasive procedures usages due to convenience is expected to further
complement the market growth.
The market is classified as
Neurosurgery, Wound Closure, Plastic and reconstructive surgeries, Urology,
Thoracic surgery, Cardiovascular, Obstetrics and gynaecology, Orthopaedic
surgery, Micro vascular, Laparoscopy and Others based on different
applications. Under developed regions such as North America and Europe are
amongst the regional market for this equipment. And under the developing
regions Asia Pacific are the regional markets catering the demand for this
instrument. North America appeared as the maximum revenue contributing regional
market due to constant R&D initiatives along with technological innovation
which is leading to the better products development. Thus this is expected to
boost the regional market growth. Asia Pacific is expected to grow at a
lucrative CAGR over the next six years due to increasing awareness and
adaptation pertaining to the advanced surgical equipment. Rise in disposable
income is expected to propel the market growth. Rise in disposable income in
emerging economies such as India is presumed to compliment the increase in
demand for surgical equipment market in this region.
Many companies are
implementing strategies such as collaboration acquisitions, and expansions to
hold a strong position in this industry. Surgical equipment market is highly
cost intensive with huge investment cost. Industry participants are investing
heavily on research and development to have competitive advantage. Product
innovation and product introduction is the important strategy adapted in this
industry. Prominent industry participants includeKLS martin group, Smith &
Nephew PLC, Zimmer holdings Inc., Ethicon Inc., Carefusion Corporation, Alcon
Laboratories Inc., Conmed Corporation and Stryker Corporation. Stryker, Carefusion
and Zimmer are observed to dominate the industry for electrosurgical
instruments in recent past.
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