Transparency Market Research Report Added "Surgical Equipment Market" to its database.
Albany, NY -- (SBWIRE) -- 02/25/2015 -- The huge importance of surgical equipments in any surgery makes the global surgical equipments market an important branch of the global healthcare industry. However, the economical nature of these tools/devices makes the market a rather smaller part of the more than US$4 trillion dollar global healthcare industry. The market is expected to experience modest growth from US$8.43 billion in 2012 to US$11.28 billion in 2019, representing a CAGR of 4.2% over the period.
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This report is an effort to analyze and identify the significant driving forces involved in the global, as well as regional surgical equipment market that is set for the next six years. This report provides market information, market trends, size, growth, and extensive analysis of the surgical equipment market based on comprehensive assessment and various factors.
Due to rapidly growing operating facilities along with growing number of hospitals in emerging economies, there is a high competition observed in the global surgical equipment market with local and international players. Nonetheless, in 2011, the four major players in this market accounted about 64% of the total market share. Clearly, Ethicon was the leader in the global surgical equipment market accounting – 34.4% market share in 2011.
For the forecast period 2013 to 2019, the surgical equipment market will be determined by factors such as worldwide aging population, rise in demand for minimally invasive procedures, year on year increase in the number of surgical procedures, and technological developments leading to innovative products. Major factors driving the growth of this industry are increased healthcare expenditure, improving standards of living and longer life expectancies.
Electrosurgical devices play a vital role in minimally invasive procedures across different surgical applications in this industry. The rise in demand for such instruments and procedures will trigger the demand for electrosurgical devices on a wider scale.
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On the other hand, supplementary factors such as rising demand for advanced wound closure materials such as glues and fibrin sealants, side effects
associated with products leading to product recalls, implementation of Patient Protection and Affordable Care Act (PPACA) in the U.S., and intense price competition from local manufacturers may cause challenges to key players operating in the surgical equipment market.
The global surgical equipment market has been segmented into three major product types, namely:
Surgical Sutures and Staples
Surgical Handheld Instruments
This industry is also constituted of mechanical devices (such as disposables, lasers, heavier cutting tools, electro-surgery devices, generators and accessories), wound closure products such sutures (non-absorbable and absorbable), and handheld instruments (blades, scalpels, clamps and scissors).
The remarkable economic growth of surgical equipment market is mainly noticed in Europe, Japan, and other emerging economies such as China and India. Geographically, the market is segmented into four regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW).
This report covers the market size and forecast study for each major segment with respect to all four regions, for the same forecast period 2010 to 2019. It also covers the CAGR (%) for this same duration including qualitative analysis of the competitive scenario in each of these regions. Inclusive are the profiles of major players in the global surgical equipment market, namely, Ethicon, Inc., Covidien plc, B. Braun Melsungen AG, ERBE Elektromedizin GmbH, CONMED Corporation, KLS Martin LP, Integra LifeSciences Holdings Corporation, Medicon eG, Stryker Corporation, Aspen Surgical Products, Inc. and CareFusion Corporation.
Nevertheless, the report also offers a list of recommendations that includes new entrants, as well as existing market players that aim to establish a strong presence in the market and accentuate their market shares on a global platform.
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