Increase in number of surgeries coupled with technological advancements globally, are the major factors influencing market growth.
The Surgical Devices Market is estimated to reach USD 26.52 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the growing number of surgical procedure along with technological advancements in surgeries that are expected to become the most common growth factors globally in the coming years.
The growth in the market is driven by factors such as the increasing number of surgical procedures which has led to the growing demand for surgical tools with developing predominance & incidence of several chronic diseases and increase in aging population. Growing demand for plastic and reconstructive surgery, rising healthcare expenditure, and accelerating need for technologically advanced and minimally invasive surgical procedures are anticipated to promote the market growth further during the forecast period. Stringent government regulations and lack of proper compensation for surgical devices may hinder the market growth during the forecast period.
Due to the presence of key players, favorable reimbursement policies, and rising number of surgical procedures and several initiatives taken by the government to provide access to advanced devices for general surgery & training sessions for physicians, North America accounts for the largest market share of 31.3% in 2018.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1360
Further key findings from the report suggest
- A surgical device is a tool or equipment designed for performing particular actions or taking out desired effects during a surgery or operation.
- The growing inclination towards minimally invasive surgeries such as electro surgery contributes to the market demand.
- The global Surgical Devices Market is growing at a rapid speed due to the rising demand for plastic and reconstructive surgery and also the growing number of aged patients worldwide.
- The reusable surgical device segment is expected to grow at the highest rate of 7.2% during the forecast period.
- The reusable surgical devices are highly adopted by the surgeons worldwide to decrease overhead costs, particularly surgeons operating in an ambulatory surgical center (ASC) setting or small medical set-ups.
- The presence of unique diagnostic and therapeutic medical technologies that enable quick and accurate diagnosis is the primary factor for the growth of this segment.
- Laparoscopes application is expected to grow at the highest rate of 7.4% during the forecast period. The factors such as cosmetic benefits for patients, minimally-invasive surgery and an increase in insurance coverage for laparoscopic surgeries contribute to its growth.
- The availability of advanced systems coupled with the presence of experienced employees is also some of the factors that are expected to bring lucrative opportunities for this segment.
- Due to the growing preference for disposable devices such as syringes, needles, and catheters, this segment is expected to dominate the market in the coming years.
- The disposable surgical device sector is estimated to reach USD 10.04 billion by 2026 at a CAGR of 7.1% during the forecast period.
- Innovative product development and collaborative developments are some critical strategic initiatives taken by the players in this industry to point their mark in the competition.
- According to an article published by Time, Inc., more than 4,100 da Vinci units have been introduced globally till June 30th, 2016.
- Other region such as the APAC is anticipated to grow at the highest rate of 7.4% during the forecast period. The increase in this region is due to the rising population, and the emerging healthcare network which are expected to spur the market in the future.
- Key participants include Johnson & Johnson Services, Inc., Stryker, Medtronic, CONMED Corporation, Becton, 3M, Dickinson and Company, Integra LifeSciences, B. Braun Melsungen AG, Smith & Nephew, Erbe Elektromedizin GmbH, Boston Scientific Corporation, and Zimmer Holdings Inc., among others.
Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1360
For the purpose of this study, Reports and Data have segmented the global Surgical Devices Market on the basis of Device type, Product, application and region:
By Device type Outlook (Revenue, USD Million; 2016-2026)
- Disposable Surgical Device
- Reusable Surgical Device
- Medical robotics & computer-assisted devices
By Product Outlook (Revenue, USD Million; 2016-2026)
- Surgical Sutures and Staples
- Auxiliary Instruments
- Energy-based & Powered Instruments
Application Outlook (Revenue, USD Million; 2016-2026)
- Orthopedic Surgery
- Wound Closure
Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
Key Advantages of the Surgical Devices Market Report:
- Detailed analysis of changing dynamics of the global Surgical Devices market
- Valuable insights on key market growth driving trends and monetary competence over the forecast period
- SWOT analysis and Porter’s Five Forces analysis for each key market player to offer competitive advantage to readers and investors
- Comprehensive assessment of competitive landscape and regional analysis
- Assessment of key factors driving and restraining market growth
- Analysis of threats, limitations, growth prospects, opportunities, and barriers in the market
- Strategic recommendations to key market players and new entrants to assist them in gaining a robust footing in the market
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/1360
Thank you for reading our report. Customization of this report is available according to the requirement of the clients. For further query or information regarding this report, please get in touch with us and team will ensure your doubts are cleared.
Explore Reports and Data’s Prime Analysis of the global Healthcare & Pharmaceutical Industry:
Nuclear Medicine Imaging Market By Type (Single-Proton Emission Computed Tomography (SPECT) And Positron Emission Tomography (PET) Systems), By Application, By End-Users, And Segment Forecasts, 2017-2027
Surgical Boom Market By Product Type, By Installation, By Mobility, and By End User, And Segment Forecasts, 2016-2027
Computed Tomography Imaging Market By Technology (Low-End Slice Technology, Mid-End Slice Technology, and High-End Slice Technology), By Application, By End-Users, And Segment Forecasts, 2016-2027
Transcranial Magnetic Stimulators Market By Type, By Application, and By End User, And Segment Forecasts, 2016-2027
Optical Coherence Tomography Market Size, Trends & Analysis, By Type (Catheter-Based OCT Devices, Doppler OCT Devices, Handheld OCT Devices, And Tabletop OCT Devices), By Technology, And By Application (Ophthalmology, Oncology, Cardiovascular, And Dermatology), Forecast To 2017-2027
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
Read Full Press Release: https://www.reportsanddata.com/press-release/global-surgical-devices-market
Purushottam Raj Gaurav is part of a talented team of content writers working at Emergen Research, fastest growing market research firms in the industry. He has experience in developing quality content and is currently involved in writing articles, press releases, and blogs for the company. He is highly motivated and enjoys putting ideas and thoughts into words to enable the reader to experience a seamless perusal.