General Surgical Devices Market Growth at CAGR of 10.20%, 2018-2023 – Latest Challenges and Trends

Global General Surgical Devices Market
Global General Surgical Devices Market

General Surgical Devices Market Overview

General surgery devices are used for a wide variety of diseases. These devices are used for routine procedures or in complicated surgical procedures. Over time, several innovative devices have been invented to respond more easily to a particular goal while performing surgeries and reducing discomfort after surgery. General surgery devices are used in gastrointestinal problems, trauma and burns, hernias and breast cancer. These devices are used in several specialties of general surgery, such as orthopedics, obstetrics, neurology, urology, cardiovascular diseases and gynecology.

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The rapid growth in general surgical devices market is primarily driven by the factors such as rising demand due to rising number of surgical procedures with rising prevalence & incidence of various chronic diseases accompanied by increasing ageing population. Moreover, increasing healthcare expenditure, increasing demand for technologically advanced minimal invasive surgical procedures and rising demand for plastic and reconstructive surgery are further expected to boost to the market growth during the forecast period. However, price competition in the industry is one of the factors holding back the growth. Stringent government regulations and lack of proper reimbursement for surgical equipment may also hamper the market growth during the forecast period.

General Surgical Devices Market Forecast Report (2018-2023)

General Surgical Devices Market was worth $0.91 billion in 2018 and estimated to reach $1.502 billion by the end of 2023 with a CAGR of 10.20%.

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 General Surgical Devices Market Segmentation

Market is segmented based on type as  Callipers, Forceps, Suction Tubes, Scissors, Probes, Handles, Needle Holder, Speculums, Clamps, Distractors, Retractors, Tendon Strippers, Clips, Sutures, Catheters, Approximates General Surgical Devices Market others. By technology, it has been segmented into Electrosurgical Equipment, Wireless Surgical Equipment, and Manual Surgical Equipment. Further, based on the end-users, they have been segmented into clinics, hospitals and others.

On the basis of geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. Electrosurgical devices segments is expected to register the fastest growth during the forecast period owing to the rising demand for these devices among growing number of minimal invasive surgical procedures. The growth in North America and Europe was driven by advent of new technologies, favorable regulatory framework, growing ageing population, and high disposable income of consumer population. However, Asia-pacific is expected to experience significant growth due to advancing medical tourism industry, increasing willingness to undergo general surgical procedures, increase in prevalence of chronic diseases that require surgical procedures and improving healthcare infrastructure.

Major Players: 

The major companies dominating this market for its products and services are

  • Medtronic Plc.,
  • Stryker Corporation,
  • Johnsons And Johnsons,
  • Conmed Corporation,
  • Alcon Laboratories Inc.,
  • Smith & Nephew PLC,
  • Zimmer Holdings Inc.,
  • Boston Scientific Corporation,
  • B. Braun Melsungen AG,
  • KLS Martin Group,
  • Olympus Corporation,
  • Applied Medical Resources Corporation,
  • Microline Surgical, Inc.,
  • Karl Storz GmbH & Co. Kg,
  •  Cook Medical Incorporated,
  • Teleflex Incorporated.

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