The Latest General Surgical Devices Industry Statistics Explained
The general surgical devices market is expected to reach USD 26.5 billion by 2026, experiencing a CAGR of 9.2% during the forecast period.
This statistic indicates that the general surgical devices market, which includes instruments and equipment used in surgical procedures, is projected to grow substantially in the coming years. The market is expected to reach a value of USD 26.5 billion by 2026, representing a compound annual growth rate (CAGR) of 9.2% during the forecast period. This growth rate suggests a strong upward trend in demand for surgical devices, driven by factors such as advancements in healthcare technology, increasing surgical procedures globally, and a growing aging population that requires more surgical interventions. The forecast reflects opportunities for innovation, investment, and expansion within the general surgical devices industry.
North America dominates the global surgical devices market with a share of 40%.
This statistic indicates that North America holds a significant position in the global surgical devices market, accounting for a sizeable portion of it at 40%. This dominance suggests that North America is a key player in the industry, likely driven by factors such as technological advancements, high healthcare expenditures, and a strong market presence of major healthcare companies. The region’s strong foothold in the surgical devices market may also be attributed to factors like sophisticated healthcare infrastructure, favorable government regulations, and a high demand for advanced medical technologies. As a result, North America’s leading position in the global surgical devices market underscores its importance and influence in shaping the industry’s dynamics and trends.
The global market for surgical devices was approximately USD 392.6 billion in 2020.
The statistic stating that the global market for surgical devices was approximately USD 392.6 billion in 2020 represents the total value of all sales related to surgical devices worldwide during that year. This figure reflects the immense scale and significance of the surgical device industry, indicating the high demand for medical equipment and innovations in the healthcare sector. The size of this market underscores the importance of surgical devices in various medical procedures and treatments, highlighting the substantial investments made by healthcare providers and medical professionals in adopting advanced technologies and tools to improve patient outcomes and enhance healthcare delivery globally.
The surgical sutures segment holds the largest share in the general surgical devices market.
This statistic indicates that among the various types of general surgical devices in the market, the segment related to surgical sutures has the highest market share. This suggests that surgical sutures, which are used to close incisions and wounds during surgical procedures, are in high demand compared to other types of general surgical devices such as scalpels, forceps, and surgical staplers. The dominance of the surgical sutures segment highlights the importance and widespread usage of these medical devices in the field of surgery, reflecting the significance of wound closure in surgical procedures and the continual need for high-quality sutures in healthcare settings.
The Asia Pacific region is forecasted to witness the fastest growth rate of 8.2% from 2019 to 2026 in the surgical devices market.
The statistic states that the Asia Pacific region is expected to experience the highest growth rate of 8.2% over the period from 2019 to 2026 in the surgical devices market, which includes medical equipment used in surgical procedures. This projection suggests that the demand for surgical devices in the Asia Pacific region is anticipated to increase significantly during this time frame, potentially driven by factors such as advancements in healthcare infrastructure, rising investments in medical technology, and an increasing prevalence of surgeries due to factors like aging populations and a growing burden of chronic diseases. The higher growth rate in the Asia Pacific region compared to other regions implies a strong market potential and opportunities for companies operating in the surgical devices sector to expand their presence and offerings in this region.
The market size for handheld surgical devices was USD 2.36 billion in 2018.
The statistic indicates that the total value of the market for handheld surgical devices in 2018 was USD 2.36 billion. This figure represents the combined revenue generated from the sales of various handheld surgical devices used in medical procedures. The market size is a key indicator of the demand for such devices within the healthcare industry. It provides insights into the growth potential and significance of handheld surgical devices in the market, reflecting the ongoing technological advancements and increasing adoption of these tools by healthcare providers globally. Understanding the market size can help industry stakeholders make informed decisions regarding product development, marketing strategies, and investment opportunities in the handheld surgical device sector.
The electrosurgical devices segment constituted 18% of the overall surgical devices market share in 2018.
This statistic indicates that in 2018, the electrosurgical devices segment accounted for 18% of the total market share of surgical devices. This suggests that electrosurgical devices, which utilize high-frequency electrical currents for cutting or coagulating tissues during surgical procedures, held a significant share of the market compared to other types of surgical devices. The data provides insight into the market dynamics and highlights the importance and popularity of electrosurgical devices in the surgical industry during that particular year.
Germany dominated the Europe surgical devices market in 2019, accounting for 23.6% of the total share.
The statistic “Germany dominated the Europe surgical devices market in 2019, accounting for 23.6% of the total share” indicates that Germany held a significant portion of the market for surgical devices within Europe during that year. This suggests that Germany played a prominent role in the production, distribution, and/or consumption of surgical devices compared to other European countries. With a market share of 23.6%, Germany likely had strong performance in terms of sales and revenue in this sector, showcasing the country’s competitiveness and expertise in the field of surgical devices within the European market landscape.
By 2023, the global surgical devices market is expected to achieve a CAGR of 7.7%.
This statistic indicates that the global surgical devices market is projected to experience a Compound Annual Growth Rate (CAGR) of 7.7% by the year 2023. A CAGR is a measure used to determine the annual growth rate of an investment over a specified period of time. In this context, the 7.7% CAGR suggests a steady and positive growth trend for the market, implying that the market size for surgical devices is expected to increase at a compounded rate of 7.7% each year leading up to 2023. This growth rate is significant and indicates a positive outlook for the surgical devices industry, with higher demand for innovative technologies and medical advancements contributing to the market’s expansion.
Reusable surgical devices account for the largest share in the surgical devices market.
The statistic indicates that reusable surgical devices, as opposed to single-use disposable devices, hold the largest market share within the surgical devices industry. This suggests that healthcare professionals and facilities prefer using reusable surgical devices due to factors such as cost-effectiveness, environmental sustainability, and possibly performance advantages. The dominance of reusable devices in the market could be attributed to their ability to be sterilized and reused multiple times, making them a more economical option for healthcare providers over time. Additionally, the reputation of reusable devices for quality and reliability may contribute to their popularity among healthcare practitioners.
Single-use surgical devices are expected to reach $18.3 billion in 2027, from $15.2 billion in 2019, registering a CAGR of 3.2% from 2020 to 2027.
This statistic indicates the projected growth of the single-use surgical devices market from 2019 to 2027. It is expected that the market size will increase from $15.2 billion in 2019 to $18.3 billion in 2027, with a compound annual growth rate (CAGR) of 3.2% over this period. The CAGR provides a measure of the average annual growth rate of the market size during these years. This suggests a steady and moderate growth trend in the demand for single-use surgical devices, likely driven by factors such as increasing prevalence of chronic diseases, advancements in surgical techniques, and the emphasis on infection control and patient safety in healthcare settings.
From 2021-2028, the Powered Surgical Instrument market is projected to experience a CAGR of 5.8%.
This statistic indicates that the Powered Surgical Instrument market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.8% between the years 2021 and 2028. A CAGR is a measure used to understand the annual growth rate of an investment over a specified period of time. In this case, the market for Powered Surgical Instruments is forecasted to steadily increase at a rate of 5.8% each year during the specified time frame. This projection suggests a positive outlook for the market, indicating potential opportunities for growth and expansion in the industry over the next seven years.
In terms of revenue, surgical suture is projected to become the most prominent segment in the global market.
This statistic suggests that among all the segments in the global market for medical supplies and equipment, surgical suture is expected to generate the highest amount of revenue. This projection highlights the growing demand for surgical sutures, which are essential for closing wounds and surgical incisions in medical procedures. The prominence of the surgical suture segment indicates a significant market opportunity for manufacturers and suppliers within the healthcare industry. Factors such as advancements in surgical techniques, increasing surgical procedures worldwide, and the rising prevalence of chronic diseases that require surgical interventions are likely driving the growth and dominance of the surgical suture market segment in terms of revenue.
Cardiovascular surgery is predicted to be the fastest-growing application in the surgical devices industry from 2021-2026.
The statistic indicates that the field of cardiovascular surgery is projected to experience significant growth in the surgical devices industry over the period of 2021-2026. This prediction suggests that there will be an increasing demand for surgical devices specifically tailored for cardiovascular procedures, highlighting the growing importance and prevalence of cardiovascular surgeries in the healthcare sector. Factors driving this growth may include advancements in surgical technology, an aging population that requires more cardiac interventions, and increasing awareness and diagnosis of cardiovascular conditions. As a result, companies producing surgical devices for cardiovascular procedures are likely to see a boost in demand and market opportunities in the coming years.
The market size of laparoscopic devices is expected to reach USD 16.3 billion by 2025, growing at a CAGR of 7.1%.
This statistic indicates that the market size of laparoscopic devices, which are used in minimally invasive surgical procedures, is projected to increase significantly over the next few years. The market size is expected to reach USD 16.3 billion by 2025, with a Compound Annual Growth Rate (CAGR) of 7.1%. This strong growth rate suggests a growing demand for laparoscopic devices due to factors such as increasing surgical procedures performed using minimally invasive techniques, technological advancements in laparoscopic equipment, and a rising prevalence of chronic diseases that require surgical intervention. The projected market size reflects a lucrative opportunity for manufacturers and suppliers in the laparoscopic device industry.
The operating room equipment market is estimated to have a CAGR of 3.9% during the forecast period of 2019-2025.
This statistic indicates that the operating room equipment market is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.9% over the forecast period spanning from 2019 to 2025. The CAGR provides a measure of the annual growth rate over a specified period, offering a smooth representation of the market’s performance over time. In this context, a CAGR of 3.9% suggests a moderate yet steady expansion in the market for operating room equipment, implying potential opportunities and demand for such products within the healthcare industry.
The market for disposable surgical devices is forecast to grow at a CAGR of 5.7% from 2019 to 2025.
This statistic indicates the compound annual growth rate (CAGR) projected for the market of disposable surgical devices over a six-year period from 2019 to 2025. A CAGR of 5.7% means that the market size for disposable surgical devices is estimated to increase by an average of 5.7% each year during this timeframe. This growth rate reflects a positive trend in the demand and adoption of disposable surgical devices within the healthcare sector, driven by factors such as technological advancements, increasing surgical procedures, and a growing awareness of the benefits of using disposable devices. Overall, the forecast suggests a steady and consistent expansion of the market for disposable surgical devices over the specified period.
The market for surgical stapling devices alone is expected to reach USD 5.9 billion by 2026, at a CAGR of 7.6%.
The statistic indicates that the market for surgical stapling devices is projected to grow significantly and reach USD 5.9 billion by 2026. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 7.6%, implying a steady increase in market size over the forecast period. The rising demand for surgical stapling devices, driven by factors such as an increasing number of surgical procedures and advancements in healthcare technology, is likely to fuel this market expansion. The CAGR of 7.6% suggests a positive trend in market growth, making it an attractive sector for investment and innovation in the healthcare industry.
References
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