Surgical Equipment Market Value Chain, Factor Analysis, Region and Forecasts Till 2022

 

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Sumit Choudhari
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The Surgical equipment are used during surgeries. 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. All surgical equipment has its specific use. Surgical sutures and staples are the basic equipment used in the surgeries. Increasing number of surgeries, & hospitals, increasing prevalence of different diseases and increasing geriatric population have boosted the market growth. Moreover, technological advancement, increasing number of ambulatory services and government initiatives have a synergistic effect on the market. However, high cost of the devices, shortage of skilled labor and strict regulatory policies are the major restraints for the market.

Increasing numbers of surgical procedures globally have consequently contributed to the development of this industry. Market Research Future, which specializes in market reports related to the Healthcare sector among others, recently published a report on this market. The sector is projected to achieve a CAGR of 7.2% approximately in the forecast period.

Industry Segments

The Americas surgical equipment market is divided into product type, application, and end users for the purpose of the study. The market on the basis of product type is segmented into electrosurgical generators, handheld instruments, surgical sutures & staplers, electrosurgical devices, monitoring devices and others. The staplers & surgical sutures are further segmented into non-absorbable and absorbable sutures. Handheld Instruments are sub segmented into forceps, visual scope, sutures and others. Electrosurgical devices are additionally categorized into electrosurgical instruments such as HET bipolar system, electrosurgical pencils, smoke evacuation system and electrosurgical generators. The market On the basis of application, is segmented into wound closure, neurosurgery, urology, cardiovascular surgeries, orthopedic surgery and others. The end users of this industry are government hospitals, private hospital and other.

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Detailed Regional Analysis:

The American surgical equipment market is poised for a healthy growth period owing to introduction of advanced devices, growing number of healthcare organization, and expanding geriatric population. In addition to this, increasing commonness of diseases & disorder, government initiatives and high healthcare spending have driven the market growth. Moreover, presence of huge number of patients suffering from cardiovascular diseases has also supported the growth of the market. North America holds the main share in the Americas surgical equipment market. Well-developed healthcare infrastructure has been instrumental in developing the market. US and Canada are the two of the major contributors for the North American surgical equipment market. However, South America is one of the fastest growing segments in the market.

Global Competitive Analysis:

The industry players in the segment are effectively utilizing their primary resources to initiate long lasting growth changes. A trend of volume-driven growth has been observed in the market of late with the development of different varieties of product types. The sector is undergoing considerable transformation which has accelerated the growth pace of the sector. Companies aiming to capture a substantial share of the market segment as early as possible, experimentation with numerous advantage points being seriously considered and implemented. The top opportunities for this sector’s long term development can be harnessed by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies.

Key Players

Some of key the players in the market are Abbott Laboratories (U.S.), Arkay, Inc. (U.S.), Bayer Healthcare AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Goldsite Diagnostics Inc., GlySure Ltd (U.K), Sphere Medical Holding plc. (U.K), Dexcom, Inc. (U.S.), and LifeScan, Inc. (U.S.).

Regional Analysis

The Americas command the largest market owing to notable increasing incidence of obesity, unhealthy diet, and physical inactivity. According to Centers for Disease Control and Prevention (CDC) in the year 2015, the prevalence of both diagnosed and undiagnosed diabetes population was 30.3 million people of all ages i.e. approximately 9.4% of the total United States population. And the total of diagnosed diabetes population was estimated to have 23.1 million people i.e. 7.2% of United States total population. Presence of well-developed technology, high healthcare spending, increased R&D activities and the concentration of major companies have fuelled the growth of the market in this region.

Europe holds the second position followed by Asia Pacific in the global blood glucose monitoring market, owing to the smoking, environmental pollutants, psychosocial factors and socioeconomic deprivation. Furthermore government support for research & development and availability of funds for research fuelled the blood glucose monitoring market for the forecast year.

Asia Pacific is the fastest growing blood glucose monitoring market owing to increasing aging population, urbanization, and associated lifestyle changes. Furthermore, increased the presence of rapidly developing healthcare technology, high healthcare expenditure, R&D activities and the concentration of major companies are fuelling the growth of the market in this region. Moreover, increasing demand for new treatment methods in countries like India and South Korea is likely to emerge as the fastest growing market across the globe. According to International diabetes federation (IDF), in 2015, there were 69.1 million people were suffered with diabetes.

On the other hand, in the Middle East and Africa has the lowest market for blood glucose monitoring owing to lack of technical knowledge and poor medical facilities. According to IDF, in 2015, around 399,900 cases of diabetes were found in Kuwait.

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Major Table of Content
Table of Contents
1 Introduction
1.1 Definition
1.2 Scope of the study
1.2.1 Research Objectives
1.2.2 Assumptions & Limitations
1.3 Market Structure
2 Research Methodologies
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
3 Report Excerpt
-TOC Continued

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Surgical Equipment Market, Surgical Equipment Industry, Surgical Equipment Market 2018

 

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