17 Oct Surgical Instruments Market is expected to generate a revenue of USD 15.75 Billion by 2030, Globally, at 7.25% CAGR: Verified Market Research®

A growing geriatric population, rising healthcare costs, significant unmet surgical demand, and an increase in surgical volume are anticipated to drive Surgical Instruments Market growth.

JERSEY CITY, N.J., Oct. 14, 2022 /PRNewswire/ — Verified Market Research recently published a report, “Surgical Instruments Market” By Product (Handheld Devices, Sutures And Staplers), By Category (Reusable, Disposable), By Application (Orthopedics, Cardiovascular), By End-User (Hospitals, Specialty Clinics), and By Geography.

As per the deep research carried out by Verified Market Research, the global Surgical Instruments Market size was valued at USD 9.21 Billion in 2022 and is projected to reach USD 15.75 Billion by 2030, growing at a CAGR of 7.25% from 2023 to 2030.

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Browse in-depth TOC on “Surgical Instruments Market“

202 – Pages
126 – Tables
37 – Figures

Global Surgical Instruments Market Overview

Surgical instruments can be used for a variety of tasks, including cutting, dissecting, gripping, holding, dilating or expanding, suctioning, withdrawing, or suturing. These tools are used in many different processes and operations.

The world’s increasingly aging population and the rise in chronic disease prevalence are both factors that contribute to the rising number of surgeries. The elderly is more susceptible to chronic ailments. Geriatric patients make up a significant portion of the total patient population because of their higher risk of contracting such diseases. Surgical procedures are an excellent therapy choice for the bulk of these ailments because the senior population is more prone to orthopedic, cardiovascular, and ophthalmic disorders. The number of elderly people is predicted to increase, which would increase demand for several surgical and interventional procedures.

The regulatory environment for makers of medical devices is extremely unstable. The American Food and Drug Administration (FDA) seeks additional scientific evidence of a device’s clinical efficacy and safety. As a result, corporate organizations are investing more money in clinical trials, the authorization procedure is taking longer, and extensive pharmacovigilance research needs considerably more resources.

Additionally, it raises the possibility of product recalls, particularly when businesses lack the financial means to perform extra research to satisfy FDA information requirements. Additionally, impeding the demand for less invasive surgical devices are these authorization delays. These regulatory adjustments also make it difficult for small firms to enter the market. Market players are in a heated competition with one another. Major capital investments, as well as the high costs of R&D and manufacturing, as well as the dearth of skilled workers, are only financially feasible for large firms.

Key Developments

• In April 2022, Versius Robotic surgical system, a new era, was launched at Bengaluru’s Nephro-Urology hospitals.
• In April 2021, Dolphin Sutures Company expanded its product portfolio in India and introduced non-absorbable polytetrafluoroethylene sutures that are ‘TEFLENE’. It is a non-absorbable, monofilament suture material made of a strand of polytetrafluoroethylene (PTFE).

Key Players

The major players in the market are Medtronic plc, Abbott Laboratories, Inc., Boston Scientific Corporation, Johnson & Johnson, Stryker Corporation, B. Braun Melsungen AG, Becton, Dickinson and Company, Koninklijke Philips N.V, Zimmer Biomet Holdings, Inc., and FUJIFILM Holdings Corporation.

Verified Market Research has segmented the Global Surgical Instruments Market On the basis of Product, Category, Application, End-User, and Geography.

• Surgical Instruments Market, By Product
  • Handheld Devices
  • Sutures and Staplers
  • Inflation Devices
  • Cutting Instruments
  • Powered and Electrosurgical Devices
  • Others
• Surgical Instruments Market, By Application
  • Orthopedics
  • Plastic and Reconstructive Surgeries
  • Cardiovascular
  • Obstetrics and Gynecology
  • Neurology
  • Other Applications
• Surgical Instruments Market, By End-User
  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers
  • Other End Users
• Surgical Instruments Market, by Geography
  • North America
    • U.S
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • ROW
    • Middle East & Africa
    • Latin America

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SOURCE Verified Market Research, PR Newswire, October 14 2022.

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