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(Medical-NewsWire.com, September 09, 2015 ) The global surgical equipment market is growing considerably due to emerging technologically advanced electrosurgical devices, speedily progressing medical tourism in developing countries, and increasing demand for minimally invasive procedures. Enormous unexplored markets of surgical equipment industry in developing economies are creating abundant opportunities for the surgical equipment market to grow at a considerable rate in the projected years.
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Moreover, promising reimbursement policies in developed countries, and escalation in aging population are also expected to support the growth of the market in the coming years. According to the World Health Organization, the population of 60 years and above is expected to rise to 15% in 2050. The advanced research and development facilities, and innovative product developments by the companies are propelling the growth of the surgical equipment industry.
Surgical handheld instruments further include scalpels, scissors, retractors, and forceps; whereas, sutures and staples are further segmented on the basis of products as surgical sutures and surgical staples. On the basis application, the market is segmented as cardiovascular, orthopedic surgery, neurosurgery, wound closure, thoracic surgery, obstetrics and gynecology, laparoscopy and others.
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The other factors driving the growth of the global surgical equipment market are growing geriatric population, mounting demand for minimally invasive procedures, increasing number of surgical procedures, and improving healthcare infrastructure in emerging economies. In addition, increasing prevalence of chronic diseases, rise in lifestyle associated diseases, and rise in healthcare expenditure are also fuelling the growth of the global surgical equipment market.
Geographically, The major reasons for the fastest growth of surgical equipment market in the region are escalating healthcare spending, huge pool of patients, and increasing government support in the region. Moreover, the surgical equipment market is growing due to increasing awareness of healthcare, and advancing healthcare infrastructure in the emerging countries, such as India and China, of Asia-Pacific region.
Some of the companies operating in the global surgical equipment market are CareFusion Corporation, Integra LifeSciences Holdings Corporation, ERBE Elektromedizin, KLS Martin LP, CONMED Corporation, Ethicon, Inc., Aspen Surgical Products, Inc., Stryker Corporation, Medicon eG, Covidien Plc, and B. Braun Melsungen AG.
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Report Coverage:
Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis
Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market
Provides information on the historical and current market size and the future potential of the market
Provides sizes of key regional markets using yardsticks of processes, segments, products, end user and technology, etc (as applicable)
Highlights the competitive scenario of the market, major competitors, market share, benchmarking, investments and merger acquisitions
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