The global general surgery devices market valuation stands at USD 12.0 Billion in 2023, and it is further projected to expand at a CAGR of 6.4% over the forecasted years. According to a recent study by Future Market Insights, direct energy system devices are leading the market with a share of about 28.2% in the year 2022, within the global market.
Market Outlook
| Data Points | Market Insights |
|---|---|
| Market Value 2023 | USD 12.0 Billion |
| Market Value 2033 | USD 23.8 Billion |
| CAGR 2023 to 2033 | 6.4% |
| Market Share of Top 5 Countries | 58.1% |
| Key Market Players | Janssen Pharmaceutical; Medtronic Plc; Becton; Dickinson and Company; Olympusm Corporation; B. Braun Melsungen AG; Stryker Corporation; Smith & Nephew Plc; KARL STORZ GmbH & Co. KG; Richard Wolf GmbH; CooperSurgical, Inc.; Intuitive Surgical Inc; Endocontrol SA; Hangzhou Kangji Medical Instrument Co., Ltd; Zhejiang Geyi Medical Instrument Co., Ltd |
General surgery is the area of surgery that deals with the most of surgical procedures. Procedures for the digestive tract, blood arteries, head and neck, belly, and breasts are all included in general operations. Modern surgical innovations have enabled doctors to execute surgeries with better accuracy while also reducing patients' recovery times and the hazards related to the procedures. The development of new surgical technologies is intended to assist medical professionals or surgeons in performing safer, less difficult, and less time-consuming procedures.
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The global sales of the market are anticipated to rise at a CAGR of 6.4% between 2023 and 2033, owing to the rising of colorectal and bariatric surgeries.
The global market holds around 52.6% share of the overall global surgical equipment market with a value of around USD 22.9 Billion, in 2022.
The spike in demand for minimally invasive treatments as a result of the many benefits given by the less invasive surgeries is one of the main drivers driving market expansion in the next years.
Advanced surgical technologies like laparoscopic surgery (keyhole surgery) are widely adopted in general surgeries. For instance, single use incision laparoscopy is such a technique which lowers the post-surgical pains compared to the traditional method.
The adoption of robotics and artificial intelligence in the field is aiding the lucrative market growth as it offers high precision surgery. The increased precision of surgical robots allows for a less intrusive treatment, which has a number of advantages, including faster recovery periods and less surgical problems.
Heavy investments in surgical equipment owing to technical improvements have resulted in high surgical device cost. The expense of purchasing modern surgery instruments is quite high, as it also raises the maintenance cost for them. This restrains market expansion, particularly in developing and undeveloped areas.
Owing to the above-mentioned factors, the global market is expected to grow at a prominent pace, and reach a valuation of around USD 23.8 Billion during the year 2033.
The market is anticipated to expand due to high prevalence of obesity and colorectal diseases. Obesity is a prominent health burden in almost every country of the world. Obesity rates have progressively increased globally during the previous three decades.
The advantages associated with post-bariatric surgery are also grabbing the attention of obese people.
The incidences of colorectal cancer are rising worldwide which necessities the disease screening and endoscopic surgeries. According to WHO’s recent estimates, nearly 2 million cases of colorectal cancer were detected in 2020, making it the third most prevalent cancer form globally.
The advanced screening techniques and surgical procedures exists are reducing the number of death from this disease. For instance, robotic surgery has revolutionized the surgical management of colorectal cancer, and this technique is gaining popularity in the field of colorectal surgery as it provides accuracy and minimally invasive procedure.
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Lack of skilled professionals for emergency robotic surgeries is a key factor hampering the market.
High surgical site infections incidence (SSI) with high morbidity rate is also hampering the market growth. As per the Centre of Disease Control and Prevention (CDC), SSI continue the significant cause of the illness, lengthy hospitalization and decease.
The USA dominates the global market with a total share of around 28.3% in 2022 and is expected to continue the same growth trend throughout the forecast period.
The rising prevalence of gynecologic cancer in the country is aiding the market's growth. For instance, cervical cancer is the most common cause of cancer-related death in American women. However, there has been a significant drop in the death rate due to the advanced surgical procedures in the country.
The use of laparoscopic surgery for cervical cancer treatment has grown in the United States, owing primarily to the benefits of faster recovery, fewer wound issues, and a higher quality of life. Therefore, the general surgery devices market is being driven by the country's increasing acceptance of laparoscopy procedures.
China held market share of 49.7% in 2022 in the East Asia general surgery devices market, owing to the increased adoption of remote surgeries. Innovations in medical technology is sky rocketing in the country leading to the adoption of remote surgery and robotic surgical treatments resulting in the market growth.
Similar to this, in 2019, a thoracic remote surgery was performed in China at a distance of 13 km from two different hospitals, according to the same source.
United kingdom holds a share of around 21.3% in the European market in 2022 owing to the rising road injuries or accidents in the country. Each year, around one in ten people in the United Kingdom, receives a surgical treatment.
Postoperative mortality is declining steadily as surgical techniques become more precise in the region.
As the frequency of injuries and accidents rises, the need for surgical equipment is predicted to rise, boosting the growth of the studied industry.
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Direct energy system devices are expected to register a high growth as it held around 28.2% of market share in 2022. The out-dated nature of conventional operations and the rise of minimally invasive treatments are predicted to benefit the worldwide adoption for directed energy-based surgical devices significantly.
The demand for directed energy-based surgical devices may continue to grow as new technologies revolutionise surgery in the future.
Colorectal surgery had a market share of 29.7% in the global market in 2022. Owing to the rising burden of colorectal cancer over the globe
A minimally invasive laparoscopic colon surgery approach allows surgeons to execute several routine colon treatments through tiny incisions for surgical procedures, which is raising the demand of the market. However, more than 600,000 surgical operations are performed in the United States each year to address a variety of colon illnesses. Hence, the rising prevalence of colorectal cancer is boosting the market.
Hospitals held a market share of 74.2% during the year 2022. Hospitals are the primary locations for complex and technologically advanced surgical operations. The hospital segment's growth is being aided by the transition from invasive to less invasive operations, as well as the growing acceptance of breakthrough surgical equipment.
Manufacturers in the market are involved in the activities like product launches and market expansion. Furthermore, emerging companies showcased their surgical platform solutions in various stages of development, such as more accessible and affordable in the developing countries.
Instances of important developmental strategies used among market participants in the general surgery devices market are presented below
Similarly, recent developments related to companies manufacturing general surgery devices products have been tracked by the team at Future Market Insights. These are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2015 to 2022 |
| Historical Data Available for | 2023 to 2033 |
| Market Analysis | USD Billion for Value, Volume (Unit) Analysis |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania, and the Middle East & Africa |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Argentina, The United kingdom, Germany, Italy, Russia, Spain, France, Benelux, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Türkiye, GCC Countries and South Africa |
| Key Market Segments Covered | Product, Application, End User, and Region |
| Key Companies Profiled | Janssen Pharmaceutical; Medtronic Plc; Becton, Dickinson and Company; Olympusm Corporation; B. Braun Melsungen AG; Stryker Corporation; Smith & Nephew Plc; KARL STORZ GmbH & Co. KG; Richard Wolf GmbH; CooperSurgical, Inc.; Intuitive Surgical Inc; Endocontrol SA; Hangzhou Kangji Medical Instrument Co., Ltd; Zhejiang Geyi Medical Instrument Co., Ltd |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Pricing | Available upon Request |
Medtronic plc and CooperSurgical Inc are the key players in the global market.
The hospital segment is capturing high revenue in the global market.
The market is estimated to secure a valuation of USD 12 billion in 2023.
The market is estimated to reach USD 23.8 billion by 2033.
The direct energy system devices segment holds high revenue potential.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Value Added Insights 5. Market Background 6. Global Market Volume (in Units) Analysis 2015 to 2022 and Forecast, 2023 to 2033 7. Global Market - Pricing Analysis 7.1. Regional Pricing Analysis By Product 7.2. Pricing Break-up 7.2.1. Manufacturer Level Pricing 7.2.2. Distributor Level Pricing 7.3. Global Average Pricing Analysis Benchmark 7.4. Pricing Assumptions 8. Global Market Demand (in Value or Size in USD Million) Analysis 2015 to 2022 and Forecast, 2023 to 2033 9. Global Market Analysis 2015 to 2022 and Forecast 2023 to 2033, By Product 9.1. Direct Energy System Devices 9.2. Trocars/Access Device 9.3. Internal Closure Devices 9.4. Laparoscopes 9.5. Hand Access Instruments 9.6. Insufflation Devices 9.7. Robotic Assisted Surgical System 10. Global Market Analysis 2015 to 2022 and Forecast 2023 to 2033, By Application 10.1. Bariatric Surgery 10.2. Colorectal Surgery 10.3. General Surgery 10.4. Gynecological Surgery 10.5. Other Surgery 11. Global Market Analysis 2015 to 2022 and Forecast 2023 to 2033, By End User 11.1. Hospitals 11.2. Ambulatory Surgical Centres 11.3. Clinics 12. Global Market Analysis 2015 to 2022 and Forecast 2023 to 2033, By Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. South Asia 12.5. East Asia 12.6. Oceania 12.7. Middle East and Africa 13. North America Market Analysis 2015 to 2022 and Forecast 2023 to 2033 14. Latin America Market Analysis 2015 to 2022 and Forecast 2023 to 2033 15. Europe Market Analysis 2015 to 2022 and Forecast 2023 to 2033 16. South Asia Market Analysis 2015 to 2022 and Forecast 2023 to 2033 17. East Asia Market Analysis 2015 to 2022 and Forecast 2023 to 2033 18. Oceania Market Analysis 2015 to 2022 and Forecast 2023 to 2033 19. Middle East and Africa Market Analysis 2015 to 2022 and Forecast 2023 to 2033 20. Market Structure Analysis 21. Competition Analysis 21.1. Janssen Pharmaceutical 21.2. Medtronic Plc 21.3. Becton, Dickinson and Company 21.4. Olympus Corporation 21.5. B. Braun Melsungen AG 21.6. Stryker Corporation 21.7. Smith & Nephew Plc 21.8. KARL STORZ GmbH & Co. KG 21.9. Richard Wolf GmbH 21.10. CooperSurgical, Inc. 21.11. Intuitive Surgical Inc 21.12. Endocontrol SA 21.13. Hangzhou Kangji Medical Instrument Co., Ltd 21.14. Zhejiang Geyi Medical Instrument Co., Ltd 22. Assumptions and Acronyms Used 23. Research Methodology
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General Surgery Devices Market
