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Americas Surgical Equipment Market | Top Key Players Profile Analysis | Growing Rapidly with 7.2% CAGR till 2023

Market Research Future has a half cooked research report on the Americas surgical equipment market. Americas Surgical Equipment Market is Expected to Grow at a CAGR of 7.2% by 2023
Published 01 February 2018

The Americas surgical equipment market is growing mainly due to rising surgical cases. According to a recent study report published by the Market Research Future, the Americas surgical equipment market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).

Surgical equipment have a wide range of application in neurosurgery, wound closure, urology, cardiovascular surgeries, orthopedic surgery and others. Surgical instrument are broadly classifies into three important category surgical sutures and staples, handheld instruments and electrosurgical devices.

Smith & Nephew, B. Braun Melsungen AG, Ethicon US, LLC., Erbe Elektromedizin GmbH, Johnson & Johnson Services, Inc, CONMED Corporation, Terumo Medical Corporation, Cook Medical, Boston Scientific Corporation, MEDICON, Integra LifeSciences Corporation, Synergetics USA, Inc., Abbott Laboratories, Stryker Corporation, KARL STORZ & Co., Roboz Surgical Instrument, Hu-Friedy Mfg. Co., LLC, Hill-Rom, Inc., Medtronic plc, and KLS Martin are some of the prominent players at the forefront of competition in the Americas surgical equipment market and are profiled in MRFR Analysis.

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Notably, increasing number of surgical procedures is the primary driver for the Americas surgical equipment market. With the rising burden of chronic diseases, need of surgical procedures has also been escalating. As per the 2015 statistics suggested by Eurostat, cataract surgery, and colonoscopy were the two most common surgical procedures performed in European region. It is observed that in the year 2015, cataract surgery was performed one thousand times per 100 000 inhabitants specifically in Germany, Sweden, the Czech Republic, Luxembourg, Finland, Malta, Estonia, Austria, Portugal and France. Other common procedures include bronchoscopies, and transluminal coronary angioplasties. Road accidents have also found to be responsible for rising surgical procedures, occurrence of wounds due to injuries. For instance, according to a study published in the Journal of Injury and Violence Research in 2017, it is found that low and middle-income countries bear the major burden of road traffic incidents worldwide. Additionally, presence of huge patient suffering from cardiovascular diseases have also supported the growth of the market.

Other push factors such as, rising technological advancements, increasing number of ambulatory services, increasing awareness among the people, rising healthcare expenditure, changing reimbursement policies, and growing geriatric population are also fuelling the growth of the market. The Centres for Disease Control and Prevention (CDC) suggested that the Per capita national health expenditures in 2015 was amounted to be USD 9,990 and total national health expenditure was USD 3.2 trillion. It is also reported that out of total national health expenditures in the US, prescription drugs 10.1% share.

Despite these drivers, high cost associated with surgical equipment, lack of skilled physicians, increasing incidence of needle stick injuries, and stringent FDA regulations are expected to hinder the growth of the surgical equipment market.

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Americas Surgical Equipment Market - Competitive Analysis

The Americas surgical equipment market is currently dominated by various players. Due to rising number of surgical procedures various existing and new marketers are continuously coming up with technologically advanced products. The Americas surgical equipment market is currently dominated by numerous players.

Medtronic plc is one of them by holding a strong share in the market. The company is the global leader in medical technology services. Medtronic Public Limited Company develops, manufactures and markets its medical devices to clinics & hospitals in approx. 160 countries. On September 12, 2017, Medtronic announced the global launch of the StealthStation ENT. The StealthStation ENT is a surgical navigation system designed for surgeons treating patients with ear, nose, and throat (ENT) related disorders. The product has also received U.S. Food and Drug Administration (FDA), and CE mark approval in the same year. In the year 2015, Medtronic acquired Covidien plc. It was USD 42.9 billion merger.

Cook Medical is another renowned market player in the Americas surgical equipment market. The product portfolio of company include guide wire, catheters, introducer sheaths, vena cava filters, stents, embolization coils, aortic endovascular grafts, central venous catheter devices, airway management devices, and drainage products. In the year 2015, Cook Medical launched APEX double curve guide wire.

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The market is driven by an increasing prevalence of different diseases and increasing geriatric population. Moreover, technological innovation in manufacturing of surgical equipment also is also responsible for the growth of this market in the US. Large number of patients undergo different kind of surgeries contribute to an increase in the demand of surgical equipment in North America. Laparoscopic surgeries are done on a large scale in South America favoring the growth of this market. Canada are focusing on exporting surgical equipment’s and surgical suturing material to countries worldwide, which is increasing market in this region. Furthermore, increasing number of hospitals and healthcare services, availability of raw material and better access to labor will fuel the growth of this market.

America surgical equipment market is into product type, application, and end users.

On the basis of product type the market is segmented into surgical sutures & staplers, handheld instruments, electrosurgical devices, electrosurgical generators, monitoring devices and others. Surgical sutures & staplers are further segmented into absorbable and non-absorbable sutures. Handheld Instruments are subsegmented into forceps, sutures, visual scope, and others. Electrosurgical devices are further categorised into Electrosurgical instruments (HET bipolar system, electrosurgical pencils, smoke evacuation system and other), and electrosurgical generators.

On the basis of application the market is segmented into neurosurgery, wound closure, urology, cardiovascular surgeries, orthopedic surgery and others.

On the basis of end user the market is segmented into government hospitals, private hospital and other.

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