July 27th, 2022 Coherent Market Insights Releases
Surgical instruments allow surgeons to open soft tissue, remove bone, and dissect the lesion or abnormal structure. Bigger instruments are used for initial exposure, and finer instruments are used for delicate structures. Instruments such as scissors and forceps are used to manipulate and pick up tissue. Dissectors are used to separate layers of tissue, allowing surgeons to isolate a lesion and prevent it from spreading. Surgical instruments are essential to the success of the surgical team.
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Some surgical equipment is made of aluminium, which is lightweight and can be treated with an electrochemical process called anodisation. The process forms an oxide layer on aluminium, offering great corrosion resistance. However, this layer is easily damaged by certain cleaning solutions, disinfecting solutions, and abrasive brushes. In addition to aluminium, tungsten carbide is another type of surgical instrument that is resistant to corrosion and wear and tear.
The global surgical equipment market is estimated to account for US$ 13,802.4 Mn in terms of value by the end of 2027.
Global Surgical Equipment Market: Drivers
Rise in number of emergency surgeries is propelling growth of the global surgical equipment market. For instance, according to Australian Institute of Health and Welfare’s Hospitals at a glance 2017–18 report updated in August 2019, admissions for emergency surgery increased between 2016-2017 and 2017-2018 by 2.9% in public hospitals and by 5.1% in private hospitals in Australia.
Global Surgical Equipment Market: Opportunities
Development and approval of Augmented Reality (AR) for use in surgery is expected to serve lucrative growth opportunities for players in the global surgical equipment market. For instance, in May 2020, Taiwan Main Orthopaedic Biotechnology Co., Ltd. received CE and U.S. Food and Drug Administration approval for its AR Smart Surgical Glasses Foresee-X.
Global Surgical Equipment Market: Restraints
Recall of products is a major factor expected to hinder growth of the market. For instance, in January 2020, Cardinal Health issued a voluntary recall of 9.1 million surgical gowns due to potential quality issues with the Level 3 gowns and the Presource procedure packs that contain them.
The global surgical equipment market was valued at US$ 8,435.2 Mn in 2019 and is forecast to reach a value of US$ 13,802.4 Mn by 2027 at a CAGR of 6.4% between 2020 and 2027. Increasing prevalence of chronic disorders during the forecast period is expected to assist the growth of the market
Surgical Sutures segment held dominant position in the global surgical equipment market in 2019, accounting for 60.1% share in terms of value. Increasing number of surgical procedures in developed and developing economies during the forecast period.
Major players are focused on adopting M&A strategies to expand their product portfolio. For instance, in December 2019, Johnson & Johnson announced an agreement to acquire the remaining stake in Verb Surgical Inc. following a strategic collaboration with Verily, an Alphabet company.
Major players are also developing products for mitigating the risk of hospital-acquired infections. For instance, in July 2019, B. Braun Melsungen AG partnered with GWA Hygiene for prevention of hospital-acquired infections through integration of B. Braun’s new disinfectant dispenser with GWA Hygiene’s NosoEx sensor technology.
The Safe Medical Devices Act of 1990 (SMDA) (Public Law 102-629) requires ambulatory surgery centers, hospitals, outpatient diagnostic centers, and other user facilities to report all incidents in which a medical device or user error may have caused or contributed to the death, serious injury or serious illness of a patient
Global Surgical Equipment Market: Competitive Landscape
Major players operating in the global surgical equipment market include, Ethicon, Inc. (Johnson & Johnson), Covidien Plc,(Medtronic Plc.), B. Braun Melsungen AG, Medicon EG, Erbe Elektromedizin GmbH, Conmed Corporation, Carefusion, and Cardinal Health.
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Global Surgical Equipment Market: Key Developments
In June 2019, Erbe USA, a part of Erbe Elektromedizin GmbH, launched APCapplicator, a multimodal instrument with Argon Plasma Coagulation and additional electrosurgical functions
In February 2019, CONMED Corporation acquired Buffalo Filter LLC, a provider of surgical smoke evacuation technologies including smoke evacuation pencils, smoke evacuators, and laparoscopic solutions
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Chapter 1 Industry Overview 1.1 Definition 1.2 Assumptions 1.3 Research Scope 1.4 Market Analysis by Regions 1.5 Surgical Equipment Market Size Analysis from 2022 to 2028 11.6 COVID-19 Outbreak: Surgical Equipment Industry Impact
Chapter 2 Global Surgical Equipment Competition by Types, Applications, and Top Regions and Countries 2.1 Global Surgical Equipment (Volume and Value) by Type 2.3 Global Surgical Equipment (Volume and Value) by Regions
Chapter 3 Production Market Analysis 3.1 Global Production Market Analysis 3.2 Regional Production Market Analysis
Chapter 4 Global Surgical Equipment Sales, Consumption, Export, Import by Regions (2017-2022) Chapter 5 North America Surgical Equipment Market Analysis Chapter 6 East Asia Surgical Equipment Market Analysis Chapter 7 Europe Surgical Equipment Market Analysis Chapter 8 South Asia Surgical Equipment Market Analysis Chapter 9 Southeast Asia Surgical Equipment Market Analysis Chapter 10 Middle East Surgical Equipment Market Analysis Chapter 11 Africa Surgical Equipment Market Analysis Chapter 12 Oceania Surgical Equipment Market Analysis Chapter 13 South America Surgical Equipment Market Analysis Chapter 14 Company Profiles and Key Figures in Surgical Equipment Business Chapter 15 Global Surgical Equipment Market Forecast (2022-2028) Chapter 16 Conclusions Research Methodology
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