Surgical Instruments Market - Forecast(2021 - 2026)

 Surgical Instruments Market Overview:


According to the findings of a study by the University of California, Irwin Medical Center, hip and knee replacement surgeries are on the rise owing to incrementing percentage of geriatrics and the mounting obesity rates in the US. Furthermore, the institute estimates that by 2030, the total number of knee replacements performed in the US will escalate by a whopping 600% as compared to that in 2005[1]. Subsequently, there will be an upsurge in demand for the instruments needed for those surgeries, which will significantly stroke the prospects in the global surgical instruments market, which had a value of $10.2 billion to $11.5 in 2018. Furthermore, opportunities in the surgical instruments market will be mounting at healthy CAGR of 6% to 6.5% during the forecast period of 2019 to 2025.


Apparently, the developed economy, growing awareness among the citizens, broad spectrum of patients, and the availability of multifunctional products owing to the world-class healthcare facilities in the North American countries are booming the surgical instruments market in the region. Conspicuously, the deep-pocket investors in the region find the healthcare sector as a compelling investment, which includes the investment in surgical instruments. This largely supports the surgical instruments market in North America, and according to the findings by the market analyst, the region held the maximum share of 39% to 43% in 2018.   


Surgical Instruments Market Outlook:

Surgical instruments are devices like scalpel and hemostat that perform functions pertaining to surgery by a surgical technologist that includes modifying a biological tissue. There are many types of surgical instruments ranging from clamps and occluders for blood vessels, retractors for skin and ribs, and stereotactic devices. The major surgical instruments marketplace are private and government hospitals where they are used to perform diverse kind of surgeries.

 
Their application is segmented on the basis of the type of surgical instruments that include surgical sutures and staplers, handheld surgical devices, and electrosurgical devices. The key market application segment is in the surgical suture and staplers, which will grow with a CAGR of 35% to 37% through to 2025. 


“The palpable rise in diseases such as obesity, cancer, and cardiovascular conditions coupled with the technological advancements and innovations in the healthcare sector to provide faster recoveries to the patients will catapult the demand for surgical sutures and staplers in the surgical instruments market,” highlights the market analyst in the report. 

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Location: United States

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