June 25, 2024
Global General Surgery Devices Market

Global General Surgery Devices Market Is Estimated To Witness High Growth Owing To Technological Advancements

The global general surgery devices market consists of a wide range of surgical equipment used for general surgical procedures. Some key general surgery devices include surgical sutures and staplers, handheld surgical equipment, and electrosurgical devices. Surgical sutures are used to stitch internal tissues and close wounds during surgery. Surgical staplers are automatic devices used to join internal tissues and close skin incisions rapidly. Handheld surgical equipment includes forceps, retractors, and scalpels that are essential for performing surgical procedures. Electrosurgical devices such as electrosurgery generators and electrodes help control bleeding and coagulate tissues using high-frequency electrical current. General surgery devices provide surgeons with effective and efficient tools to carry out various procedures including hernia repair, appendectomy, cholecystectomy, and breast biopsy among others. The growing Geriatric population suffering from chronic diseases and rising number of general surgical procedures performed worldwide are fueling demand for general surgery devices.

The Global general surgery devices market is estimated to be valued at US$ 16.46 Bn in 2024 and is expected to exhibit a CAGR of 9.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the global general surgery devices are Medtronic Plc, Johnson & Johnson Service; Inc., Conmed Corporation, Integra LifeSciences, Smith & Nephew, Becton, Dickinson and Company (Bd), B. Braun Melsungen Ag, Cadence Inc, Integer Holdings Corporation, Olympus Corporation, Stryker, Boston Scientific Corporation, Erbe Elektromedizin Gmbh and 3M Healthcare. These players are focusing on developing advanced electrosurgical devices and surgical staplers to perform minimally invasive procedures.

The rising adoption of minimally invasive Global General Surgery Devices Market Trends  along with the increasing demand for hernia and cholecystectomy procedures present significant growth opportunities in the market.

Technological advancements inclusing the development of battery-powered hands-free electromagnetic surgical devices, single-use surgical devices and robotic surgical platforms will further support the market growth over the forecast period.

Market Drivers

One of the key drivers for the global general surgery devices market is the growing global Geriatric population who are more prone to chronic diseases requiring surgical treatments. It is estimated that over 65% of surgeries performed worldwide are for the Geriatric population suffering from conditions like cancer, cardiac disorders etc.

Secondly, the rising prevalence of lifestyle diseases has increased the number of general surgeries being performed worldwide. For instance, diseases like obesity are leading to increasing bariatric and hernia repair surgeries globally.

Lastly, the increasing access to healthcare and health insurance in developing nations is enabling more people to undergo general surgical procedures, thus propelling the demand for general surgery devices.

Current challenges in the Global General Surgery Devices Market

The Global General Surgery Devices Market is facing challenges such as shortage of skilled professionals, high cost of advanced surgeries and devices, and risks associated with surgeries. With growing geriatric population worldwide, the demand for general surgeries is increasing rapidly which is putting pressure on existing healthcare infrastructure and resources. Many countries lack adequate number of surgeons, nurses and support staff to handle regular surgeries comfortably. The cost of advanced surgical devices, robotic systems and minimally invasive procedures is quite high which limits their widespread adoption. Surgeries always carry some risks of complications, side effects, infections etc. which makes both patients and their families anxious. Creating awareness about benefits, getting insurance coverage and availability of affordable healthcare financing options are important to address these challenges.

SWOT Analysis

Strength: Advanced general surgery technologies offer greater precision, smaller incisions, less pain and quick recovery. Robot assisted surgeries are increasing the ability of surgeons.
Weakness: High costs of advanced devices limit their accessibility. Lack of skilled professionals in many regions.
Opportunity: Growing geriatric population means more demand for general surgeries. Investments in healthcare infrastructure and innovations can tap the opportunities.
Threats: Economic slowdowns may reduce healthcare spends of governments and individuals. Risks of litigation in case of any adverse outcomes during surgeries.

Geographical regions:

North America dominated the global general surgery devices market in terms of value in the historical period and is estimated to continue its dominance during the forecast period as well. This is attributable to factors such as high healthcare expenditure, advanced healthcare infrastructure, and presence of major players in the region.

Fastest growing region:

Asia Pacific region is poised to witness the highest growth during the forecast period. This can be attributed to factors like growing healthcare infrastructure, rising medical tourism, increasing disposable incomes, expanding patient pool due to surging geriatric population & chronic diseases. Many countries are undertaking initiatives to modernize healthcare systems which will boost adoption of general surgery devices in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.