Surgical Instruments Market (By Product Type: Surgical Sutures and Staplers, Handheld Surgical Devices & Electrosurgical Devices. By Application Type: Neurosurgerym, Would Closure, Cardiovascular, Orthopedic & Others. By Region - North America, Europe , Asia-Pacific , LAMEA) - Global Market Analysis, Growth, Trends & Forecast, 2022-2032

The global surgical instruments market was valued at $34.5 billion in 2021 and it is expected to reach $89.2 billion at a CAGR of 8.9% between 2022 and 2032. Due to the rising cases of various chronic diseases and increasing usage of modern surgical tools, and the rise in the geriatric population, the market is expected to witness more growth opportunities over the upcoming years. 

By region, North America has led the global surgical instruments market over the past few years with significant share.

With the introduction of new medicines and vaccines, the surgical instruments market is estimated to gain more growth opportunities during the forecast period. In several developed nations, the government is playing an essential role by implementing new strategies with proper investments in R&D activities. Hence, this kind of support is initially helping all the key players from various countries. Rising cases of geriatric populations are another major factor that is driving the global surgical instruments market. Furthermore, this has contributed to the growth of the market. People who are above 60 years of age are at a higher risk of developing disorders or other illnesses. These kinds of people need immediate surgery. Thus, it is also anticipated to accelerate market growth. Modern electronic technologies are one of the key factors which are also driving the market over the past few years. These technologies such as minimally invasive surgery equipment and robotic-assisted systems are primarily driving the market with significant growth. However, over the last two years, the market had faced a sudden fall in sales due to the COVID-19 pandemic. This issue hampered the market in a certain way. After the pandemic, the surgical instruments market is again gradually gaining growth opportunities which are a positive symbol for all the market players.

Source: SAI Research

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Based on product type, the global surgical instruments market is segmented into surgical sutures and staplers, handheld surgical devices, and electrosurgical devices. The surgical sutures and staplers segment holds the largest share of the market and is anticipated to lead during the forecast period. The adoption of sutures and staplers is expected to grow due to the increasing usage of wound closure procedures. On the other hand, the handled surgical devices segment also accounted for the largest share of the market due to its increasing usage and demand among a wide range of healthcare sectors and hospitals for surgical procedures. Technological advancement is also accelerating both of the segments which would gain more revenue share over the upcoming years.

Based on application type, the global surgical instruments market is categorized into neurosurgery, wound closure, cardiovascular, orthopedic, and others. Wound closure and cardiovascular segments are accounted to hold the largest share of the market due to the rising cases among healthcare sectors. Patients with deep wounds need immediate checkups and surgery. For this treatment, doctors need surgical instruments to conduct surgical operations. Besides this, the plastic and reconstructive surgery segment is projected to witness more growth opportunities over the upcoming years. Several major factors such as the increase in disposable incomes, modern technologies, and increasing demand to develop and improve esthetic appeal are also estimated to accelerate the growth of the segment during the forecast period. 

Geographically, the global surgical instruments market is segmented into North America, Europe, Asia-Pacific, Latin America, and Africa. Among these regions, the North American segment holds the largest share of the market and is anticipated to hold its dominant position during the forecast period. Most of the key players are operating from this region and these key players are located in several countries across North America. Some major factors such as medical expenditure and the presence of well-established hospitals are contributing to the growth of the global surgical instruments market with significant market share. Additionally, technological advancement is another key factor that is accelerating the growth of the market. On the other hand, Asia-Pacific is also expected to hold its dominant position and is projected to become the fastest-growing regional market during the upcoming years due to increasing disposable expenditure and income in several countries such as India, China, Japan, South Korea, and others. 

According to the study, key players such as Alcon (U.S), Aspen Surgical Products (U.S), Boston Scientific (U.S), BD (U.S), B.Braun Holding GmbH (Germany), CONMED (U.S), Cousin Surgery (France), Enthral Medical GmbH (Germany), Ethicon Inc (U.S), Fuhrmann GmbH (Germany), Johnson and Johnson (U.S), KLS Martin Group (Germany), Medtronic (Ireland), Novartis (Switzerland), Peters Surgical India (India), Smith and Nephew (U.K), Stryker Corporation (U.S), Zimmer Biomet (U.S), among others are leading the global surgical instruments market. 

Scope of the Report:

The Global Surgical Instruments Market Has Been Segmented Into:

The Global Surgical Instruments Market – by Product Type:  

• Surgical Sutures and Staplers
• Handheld Surgical Devices
• Electrosurgical Devices

The Global Surgical Instruments Market – by Application Type:

• Neurosurgery
• Would Closure
• Cardiovascular
• Orthopedic
• Others

The Global Surgical Instruments Market – by Regions:  

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • U.K.
  • France
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • Australia
  • Rest of Asia Pacific
• LAMEA

• Middle East
• Saudi Arabia
• UAE
• Others
• Latin America
• Brazil
• Chile
• Others
• Africa
• South Africa
• Egypt
• Others