Surgical Instruments Market Size To Reach USD 25.05 BN In 2028 Due to Rising Prevalence Of Chronic Diseases Such As Cancer, Neurological, Cardiovascular Diseases, Diabetes Across The Globe, and Increasing Cases Of Accidents And Other Injuries - RND

NEW YORK, Jan. 31, 2022 /PRNewswire/ -- The global surgical instruments market is expected to reach USD 25.5 Billion in 2028 and register a revenue CAGR of 7.9% during the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth include rapid advancements in surgical procedures, increasing adoption of handheld surgical instruments, and high geriatric population. 

Surgical instruments such as scalpels, scissors, forceps, sutures & staplers, forceps spatulas, retractors, dilators, graspers, clamps, and electrosurgical devices are used by healthcare professionals and surgeons for cutting, gripping, holding, dilating, and clamping biological tissues during surgeries and operations. A wide variety of surgical instruments are available for different surgical procedures, some are used for general surgeries while some are used for specific complex surgeries. Factors such as increasing incidence of ocular, intestinal, and gastric disorders, rising number of surgeries globally, and rising demand for minimally invasive surgical processes are fueling global market growth. In addition, improving healthcare infrastructure, high adoption of robotic-assisted surgery, especially in developed countries, and increasing investments in research and development activities for developing more enhanced, cost-effective, and compact surgical instruments are expected to drive global market revenue growth during the forecast period. 

However, factors such as frequently changing regulatory norms, delay in product approval processes, and dearth of well-trained healthcare professionals are expected to restrain global market growth between 2021 and 2028. In addition, high cost of surgical procedures and instruments, and availability of alternatives such as adhesives and sealants are expected to hamper overall market growth going ahead. 

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Some key highlights of the report:

• Based on category, the disposable segment is expected to account for significantly larger revenue share between 2021 and 2028, owing to increasing prevalence of chronic diseases, increasing number of different types of surgeries, and rising demand for disposable instruments to avoid contamination risks and save time and additional reprocessing costs. 
• Among the type, surgical sutures and staplers segment is expected to account for significant revenue share during the forecast period owing to increasing incidence of chronic illnesses and road accidents, rising number of surgeries, and constant demand for surgical sutures and staplers removal instruments post surgeries. Sutures and staplers are commonly used in surgical processes for rapid wound healing.
• North America is expected to account for largest revenue share in the global market during the forecast period owing to increasing prevalence of various chronic diseases, rising number of surgical centers, availability of advanced surgical instruments, and rising demand for minimally invasive surgeries. In addition, increasing investments for developing enhanced and compact instruments, presence of well-developed healthcare facilities, availability of skilled healthcare experts, and presence of leading manufacturers are expected to fuel market growth going ahead. 

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• Asia Pacific market revenue is expected to expand at a rapid CAGR of 8.2% during the forecast period. Rapid revenue growth is attributed to factors such as increasing prevalence of various chronic diseases such as diabetes, cancer, cardiovascular and neurological diseases, rising incidence of accidents and injuries, increasing geriatric population, and high adoption of minimally invasive surgical instruments. Other factors such as increasing awareness about minimally invasive processes, increasing number of surgeries, improving healthcare infrastructure, rising disposable income, and increasing R&D investments are expected to fuel Asia Pacific market growth between 2021 and 2028. 
• Smith & Nephew plc, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, Stryker Corporation, Ethicon, Inc., Aspen Surgical Products, Inc., Alcon Laboratories, Inc., Becton, Dickinson and Company, Medtronic, Plc, Boston Scientific Corporation, Abbott Laboratories, Inc., Progressive Medical, Inc., Scanlan International, Koninklijke Philips NV, Biolitec AG, and Johnson & Johnson are some key companies operating in the global surgical instruments market.

To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/surgical-instruments-market 

For the purpose of this report, Reports and Data has segmented the global surgical instruments market on the basis of type, application, category and region:

Type Outlook (Revenue, USD Billion; 2018–2028)

• Surgical Sutures & Staplers
• Handheld Surgical Devices
• Forceps & Spatulas
• Retractors
• Dilators
• Graspers
• Auxiliary Instruments
• Cutter Instruments
• Others
• Electrosurgical Devices

Application Outlook (Revenue, USD Billion; 2018–2028)

• Neurosurgery
• Obstetrics & Gynecology
• Wound Closure
• Cardiovascular 
• Plastic & Reconstructive Surgery
• Orthopedic
• Others

Category Outlook (Revenue, USD Billion; 2018–2028)

• Reusable
• Disposable

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Regional Outlook (Revenue, USD Billion, 2018-2028)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Sweden
• Benelux
• Rest of Europe
• Asia Pacific
• China 
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Israel
• Rest of MEA

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