The landscape of general surgery is undergoing a transformation, fueled by advancements in medical technology. According to a recent industry report by Future Market Insights (FMI), the global General Surgery Devices Market is poised for significant growth. With a projected Compound Annual Growth Rate (CAGR) of 6.4% over the next decade, the market is expected to reach a staggering USD 23.8 billion by 2033. In 2022, the market was valued at around USD 12.0 billion, highlighting the rapid progress in this field.
One of the key reasons for the expanding usage of laparoscopic operations on a global scale is the rising frequency of numerous serious illnesses such as colorectal cancer and gynecological disorders. Because of the numerous advantages provided by minimally invasive treatments, there is an increase in demand for minimally invasive operations.
Laparoscopy is a minimally invasive procedure that enables the doctor to get to the inner parts of the abdomen (tummy) and pelvis without making deep cuts in the skin, the rising demand for minimally invasive procedures can boost the market growth.
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The requirement of surgical procedures is in high demand due to advancements in treatments. For example, laparoscopic surgery will continue to collaborate with more computer-assisted technology, more image-based technology, and the creation of new energy devices to reduce costs. As a result of the cheaper cost of the treatments, there will be a lucrative demand for general surgeries.
Key Takeaways from the General Surgery Devices Market Study
- Direct energy system devices are the leading segment as a product, and held around 28.2% market value share in 2022, owing to aesthetically minimizing wounds and allowing doctors to conceal scars.
- The Colorectal surgery segment is set to lead among the application segment of the general surgery devices market with a projected market value share of around 29.7% by 2033, owing to the rising prevalence of colorectal cancer
- By end users, hospitals held a share of around 74.2% in 2022 due to the preference of patients to visit hospitals for surgical procedures compared to other end-user settings.
- North America held a value share of around 30.4% in 2022, due to rising surgeries of colorectal cancer in the region.
“Growing Demand for Minimally Invasive Surgeries among the ever-increasing Patient Pool suffering from Chronic Conditions is set to propel the Global Market for General Surgery Devices,” says an analyst of Future Market Insights.
General Surgery Devices Market Competition
The general surgery devices market is a sector that has undergone consolidation. The market participants are concentrating on creating and introducing technologically enhanced approaches to increase the accuracy and efficiency of the operations and reduce post-operative problems.
- The commercial debut of Smith & Nephew’s CORI Surgical System, the company’s newest portable robotics platform, in Japan, is scheduled for February 2022.
- To provide complete technology and product options in urology, gynecology, and general surgery, Arthrex and Richard Wolf, worldwide pioneers in minimally invasive surgical technologies and solutions, announced U.S.-based cooperation in November 2022.
General Surgery Devices Market Key Players
- Janssen Pharmaceutical
- Medtronic Plc
- Becton, Dickinson, and Company
- Olympus Corporation
- B. Braun Melsungen AG
- Stryker Corporation
- Smith & Nephew Plc
- KARL STORZ GmbH & Co. KG
- Richard Wolf GmbH
- Others
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the general surgery devices market in its latest study, presenting a historical demand assessment of 2015 to 2022 and projections for 2023 to 2033. The global general surgery devices market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on the product type– (direct energy system devices, trocars/access device, internal closure devices, laparoscopes, hand access instruments, insufflation devices, and robotic assisted surgical system), by application- (bariatric surgery, colorectal surgery, general surgery, gynecological surgery, and other surgery), by end user- (hospitals, ambulatory surgical centers, and clinics), across seven key regions of the world.
Key Segments Covered in the General Surgery Devices Market Research
Product:
- Direct Energy System Devices
- Trocars/Access Device
- Internal Closure Devices
- Laparoscopes
- Hand Access Instruments
- Insufflation Devices
- Robotic Assisted Surgical System
Applications:
- Bariatric Surgery
- Colorectal Surgery
- General Surgery
- Gynecological Surgery
- Other Surgery
End User:
- Hospitals
- Ambulatory Surgical Centres
- Clinics
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About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business. Know more about our sector coverage here.
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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