General Surgery Devices Market: Exploring Opportunities Through Market Share And Growth Projections

Posted by Kumar on June 5th, 2023

According to a comprehensive market research report published by TechSci Research, titled "Global General Surgery Devices Market By Product Type, Methods, Application, End Users, and Region, Competition Forecast & Opportunities, 2026," it is projected that the global market for general surgery devices will witness remarkable growth during the forecast period of 2022-2026. This growth can be attributed to the increasing number of surgical procedures being performed worldwide as a crucial treatment measure for chronic diseases, trauma incidents, and emergency situations. Furthermore, the advancements in healthcare facilities and the extensive research and development activities undertaken in countries such as the United States, Switzerland, and South Korea, among others, are actively contributing to the substantial expansion of the global general surgery devices market. These advancements in medical devices, equipment, treatment plans, and emerging technologies are expected to continue supporting the market's growth over the next five years.

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The surge in patient awareness and the high incidence of cardiac-related diseases, gastrointestinal diseases, and osteoporosis are key factors responsible for the substantial increase in the number of surgeries being performed, which, in turn, supports the growth of the global general surgery devices market in the coming years. Moreover, there is an increasing preference among patients and healthcare professionals for minimally invasive procedures, as well as robotic and computer-assisted surgeries, which is expected to further propel market growth. While the sector of robotic and computer-assisted surgeries is still in its early stages, it is steadily gaining traction. Robotics have already found application in various general surgeries such as cholecystectomy, fundoplication, and Heller Myotomy, and their utilization is projected to expand to encompass a wider range of surgeries, thereby supporting the overall growth of the market.

In terms of segmentation, the global general surgery devices market is categorized based on product type, method, application, end user, competitive landscape, and regional distribution. The market is further divided into open surgery and minimally invasive surgery based on the method of surgery. Open surgery is expected to maintain its dominance in the market over the next five years, similar to its performance in previous years. The market segment for open surgery is anticipated to grow during the forecast period from 2022 to 2026, primarily due to the continued utilization of well-established procedures and the availability of highly skilled practitioners. Despite advancements in medical technology, developing countries still rely heavily on open surgery procedures. These procedures are typically performed by experienced surgeons with decades of practice. However, with advancing technology, enhanced training programs, and an increasing number of technologically adept professionals in the healthcare field, minimally invasive surgeries are projected to register the fastest-growing compound annual growth rate (CAGR) over the next five years. The advantages of minimally invasive surgeries include a lower risk of surgical errors or complications, which are often associated with open surgeries, as well as minimal scarring, thereby offering significant benefits to patients.

Prominent players in the global general surgery devices market include B. Braun Melsungen AG, Johnson & Johnson Service, Inc., Medtronic Plc, Becton, Dickinson And Company, Stryker Corporation, Boston Scientific Corporation, Conmed Corporation, Cadence Inc., Erbe Elektromedizin Gmbh, SIM Surgical, among others. These market players actively engage in research and technological development for product manufacturing, enabling the healthcare industry to provide excellent surgical solutions. The continuous advancements in technology are expected to further enhance the market value and facilitate brand establishment over the next five years. New entrants in the market are advised to focus on extensive research and development activities in order to meet consumer demands while strengthening their brand value. Additionally, competitive strategies such as mergers and acquisitions and new product developments are likely to be pursued by market players to gain a competitive edge in the industry.

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“North American region is anticipated to dominate the global general surgery devices market on the account of well-established modern healthcare industry in the countries of the region like United States, Canada. The countries support better regulations of surgical devices and growing awareness among the population to approach for such procedures in case of injuries and chronic disease problems. Also, the abundance of market players in the region is expanding the market in next five years. New market players must concentrate over the advanced technological medical devices and in better popularization of the product to establish their brands in the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.

“Global General Surgery Devices Market By Product Type (Handheld Devices, Laparoscopic Devices, Electrosurgical Devices, Medical Robotics & Computer-Assisted Surgical Devices, Others) By Methods (Open Surgery v/s Minimally Invasive Surgery) By Application (Gynecology and Urology, Cardiology, Orthopedic, Neurology, Others) By End Users (Hospital & Clinics, Ambulatory Surgical Centers, Others) By Region, Competition Forecast & Opportunities, 2028”, has evaluated the future growth potential of global general surgery devices and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global general surgery devices market.

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