Top Emerging Trends Of General Surgery Devices Market Progress Forecast 2026

Posted by Mrudula Anil Karmarkar on October 4th, 2021

The global general surgery devices market size is expected to reach USD 26.5 billion by 2026 registering a CAGR of 8.5%, according to a new report by Grand View Research, Inc. Increasing number of surgical procedures being performed coupled with technological advancements is anticipated to drive the market. Moreover, rising awareness and patient affordability for plastic or reconstructive surgeries would propel the number of procedures conducted during the forecast period.

Global health initiatives for the advanced surgical procedure is expected to boost the market. In January 2017, Ethiopia Federal Ministry of Health (FMOH) launched the Health Sector Transformation Plan (HSTP) and Safe Surgery (SaLTS) program that prioritizes safe surgery and makes anesthesia care and emergency surgical services accessible and affordable.

Technological advancements are also contributing to the market growth. Several key companies are investing in R&D for the development of innovative products. For instance, development of medical robots to assist surgeons is a key advancement in the field. Medical robots offer several advantages, such as a 3D view of the operating field, reduced blood loss & transfusions, lower risk of infection, faster recovery time, minimal scarring, and high precision.

Furthermore, growing aging population and cases of road accidents and increased healthcare expenditure in emerging economies are likely to boost the market during the forecast period. According to the WHO, the world’s population aged 60 years and above is expected to reach 2 billion by 2050 from 900 million in 2015. Geriatric population is more susceptible to a number of diseases, which is likely to increase the need for effective treatments, thereby driving the market.

Furthermore, increasing preference for minimally invasive and robotic and computer-assisted surgery is likely to boost the market growth. Technological development and adoption of advanced surgeries by the emerging countries are likely to drive the market. The robotic and computer-assisted sector has been in its infancy and is steadily gaining traction.

Further key findings from the study suggest:

  • Disposable surgical supplies held the largest market share in 2018. Low product cost and regulatory support for the usage of disposable products is expected to fuel the demand for these devices
  • Asia Pacific is estimated to expand at the highest CAGR over the forecast period due to technological advancements, increasing investments and improving reimbursement scenario along with the growing medical tourism sector in the region
  • Medical robotics & computer-assisted surgery devices are projected to witness the maximum CAGR of 9.9% from 2019 to 2026 due to increasing R&D investments and availability of technologically advanced products
  • Some of the key companies in the market are Medtronic plc; Johnson & Johnson Services, Inc.; CONMED Corp.; Becton, Dickinson and Company (BD); B Braun Melsungen AG; Strykers; Boston Scientific Corp.; Erbe Elektromedizin GmbH; and The 3M Company

Presently, robotics has application in various general surgeries, such as cholecystectomy, fundoplication, and Heller Myotomy. As technology advances, the adoption of robotic instruments and 3D monitoring is expected to rise to improve precision and patient care. Several key companies are investing in R&D for the development of innovative products.

For instance, In April 2017, Intuitive Surgical, Inc. received CE mark approval in Europe for the latest da Vinci X Surgical System, which enables robot-assisted surgeries at low costs for hospitals and surgeons. According to an article published by Time, Inc., more than 4,100 da Vinci units have been installed worldwide, which include 2,703 in the U.S., 698 units in Europe, 538 units in Asia, and 210 units in several other regions.

On the other hand, the medical robotics & computer-assisted devices segment is expected to register the highest CAGR owing to extensive R&D for the development of accurate computer-assisted tools. For instance, TransEnterix, Inc. is focusing on the use of robotics in minimally invasive surgeries with FDA and CE mark-approved surgical robotic systems in its portfolio.

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Some of the key companies are Covidien Plc (Medtronic); Boston Scientific Corp.; B. Braun Melsungen AG; Conmed Corp.; Erbe Elektromedizin GmbH; Johnson & Johnson Service, Inc.; Integra LifeSciences; Smith & Nephew; 3M Healthcare; and CareFusion Corp. Most of these companies have undertaken strategic initiatives, such as product development, geographical expansion, and M&A to increase their market share. In February 2017, Medrobotics Corp. received funding of USD 20 million for expanding in novel surgical applications and for developing next-generation Flex Robotic System.

Grand View Research has segmented the global general surgery devices market on the basis of type, application:

General Surgery Devices Type Outlook (Revenue, USD Million, 2015 - 2026)

  • Disposable Surgical Supplies
  • Open Surgery Instrument
  • Energy-based & Powered Instrument
  • Minimally Invasive Surgery Instruments
  • Adhesion Prevention Products
  • Medical Robotics & Computer-assisted Surgery Devices

General Surgery Devices Application Outlook (Revenue, USD Million, 2015 - 2026)

  • Orthopedic Surgery
  • Cardiology
  • Ophthalmology
  • Wound Care
  • Audiology
  • Thoracic Surgery
  • Urology & Gynecology Surgery
  • Plastic Surgery
  • Neurosurgery
  • Others

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

 

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Mrudula Anil Karmarkar

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Mrudula Anil Karmarkar
Joined: July 2nd, 2020
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