Surgical Equipment Market Size and Forecast 2024-2033| Johnson & Johnson (J&J), Abbott Laboratories, Cousin Surgery LLC, 3M Company, Medtronic PLC

Two men washing medical intruments in sink after a surgery

The Surgical Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Surgical Equipment Global Market Report 2024, The surgical equipment market size has grown strongly in recent years. It will grow from $29.98 billion in 2023 to $32.5 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to globalization of medical tourism, rise in ambulatory surgery centers, government investments in healthcare infrastructure, focus on infection control measures, training and education programs

The surgical equipment market size is expected to see strong growth in the next few years. It will grow to $43.45 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to increased demand for elective surgeries, focus on outpatient surgical care, global health crisis preparedness, patient-centric healthcare, focus on environmental sustainability, regulatory harmonization. Major trends in the forecast period include robot-assisted surgery advancements, augmented reality (ar) in surgery, remote and telesurgery, customized surgical instruments, smart implants and prosthetics

The growing demand for minimally invasive surgery (MIS) will increase the demand for advanced surgical equipment. An MIS refers to any surgical procedure that requires minimal incisions as opposed to traditional or open surgery used for the same purpose. Preference for MIS procedures increased due to their multiple advantages, such as short healing and recovery times, minimal scarring, cost-effectiveness, minimal trauma and pain, and decreased risk of infections and complications. Medical technology innovations led to the development of advanced surgical equipment such as Da Vinci surgical systems, C-arm devices, and electrosurgical and power-assisted surgical equipment. These devices, which enable MIS, will drive the surgical equipment market during the forecast period.

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The surgical equipment market covered in this report is segmented –

1) By Type: Surgical Sutures And Staples, Handheld Surgical Devices And Equipment, Electrosurgical Devices And Equipment

2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users

3) By Type of Expenditure: Public, Private

4) By Product: Instruments/Equipment, Disposables

Major companies operating in the surgical equipment market are focused on developing innovative products, such as TrueDent resin, to increase their profitability in the market. TrueDent is an FDA-cleared (Class II) patented resin specifically designed for the 3D printing of dentures, temporary crowns, and bridges using the J5 DentaJet platform. For instance, in February 2023, Stratasys Ltd., a US-based additive manufacturer, launched TrueDent resin, which is the company’s first FDA-cleared medical device. TrueDent resin is a light-curing material engineered for 3D printing, primarily intended for producing aesthetically pleasing monolithic dentures along with temporary crowns and bridges using the J5 DentaJet platform. This resin facilitates the fabrication of precise and aesthetically pleasing full and partial dentures, ensuring patients receive dentures that fit well, maintain their form, and function effectively.

The surgical equipment market report table of contents includes:

1. Executive Summary

2. Surgical Equipment Market Characteristics

3. Surgical Equipment Product/Service Analysis -Product/Service Examples

4. Surgical Equipment Market Trends And Strategies

5. Surgical Equipment Market – Macro Economic Scenario

26. Germany Surgical Equipment Market

27. France Surgical Equipment Market

28. Italy Surgical Equipment Market

29. Spain Surgical Equipment Market

30. Austria Surgical Equipment Market

Top Major Players: