Increasing Number of Minimally Invasive Surgical Procedures Are Anticipated to Boost the Surgical Instruments Market

Increasing Incidences Of The Road Accidents And Increasing Number Of Minimally Invasive Surgical Procedures Are Anticipated To Boost The Surgical Instruments Market During The Forecast Period. Surgical Instruments Market size is forecast to reach $28.3 billion by 2026, growing at a CAGR of 8.0% during the forecast period 2021-2026. 

The Surgical Instruments market is growing at a significant rate owing to the increasing number of road incidents. According to the World Health Organization (WHO), 1.50 million people die each year owing to the road traffic incidents and around 45 million people suffer from non-fatal injuries. Spinal cord damage and herniated discs damage are mostly found in the victims of the car accidents and also other internal injuries that requires surgeries and leads to replacements of the body part for healing the injury completely. 

Surgical Instruments are the devices that aid the physical modification of the tissue and helps in providing access to the internal body. Different types of modern electronic technologies such as minimally invasive surgeries equipment’s along with the robotic and power assisted systems are increasing the growth of the market. Surgical Instruments like hemostat and scalpel performs various functions pertaining to the surgery. It ranges from the occluders for blood vessels, stereotactic devices, and clamps among others. The rising frequency of cancer and cardiovascular disorders along with technological developments, is driving market growth. Surgical Instruments provide faster recoveries to the patients which increases their demand. Various advantages of surgical Instruments include post-surgery problems, shorter hospital stay, faster recovery, and minimal blood loss. These Instruments are majorly made up of high grade stainless steel and have a wide variety of sizes, shapes, and designs that are suitable for specific surgeries. Hand held surgical Instruments are mainly used in neurosurgery, orthopedic, neurosurgery, gynaecology, and obstetrics among others. Increasing awareness regarding women’s health and skin rejuvenation is also increasing the growth of the market.

North America dominated the global market share of the Surgical Instruments market in 2020 owing to the increasing penetration of improved medications. Early diagnosis and various government initiatives is reducing the increasing healthcare expenditure. The presence of a huge patient pool, rising unmet medical demands, and technical breakthroughs in minimum surgical treatments are driving market growth. All these factors are set to avail new growth opportunities to the Surgical Instruments in the region during 2021-2026.

Increasing preference of surgeries over other treatment methods is increasing the growth of the market. Methods of treatments like cell therapy and anti-inflammatory medications are time consuming and there is a tangible predilection among the patients regarding the surgery that it leads to quick healing. Zimmer Biomet invented surgical equipment that can be used in orthopedic surgery as a tool for drilling, reaming, and sawing with lithium battery technology. It provides more reliability needed for critical surgeries. The computer-assisted surgical systems that can be utilized for surgical navigation and pre-operative planning is set to hinder the growth of the market during the forecast period 2021-2026. 

Rising prevalence of chronic diseases is driving the growth of the Surgical Instruments Market. Leading cause of death around the world is owing to the chronic diseases. It is estimated that around 29% of the death is owing to the chronic diseases. 40.5% of the U.S. population suffers from the diseases. However, rising demand from developed nations, as well as increased knowledge about the value of surgeries, are increasing the market growth. Thus, increasing the growth of the Surgical Instruments Market during the forecast period 2021-2026.

In December 2020, Zimmer Biomet acquired A&E Medical and its portfolio that includes sternal sutures, cable systems, and rigid fixation along with surgical punch products.

The major companies in the Surgical Instruments market include Medtronic Plc, Stryker Corporation, Johnson & Johnson, B. Braun Melsungen AG, Smith & Nephew Plc, Boston Scientific Corporation, and Conmed Corporation among others.

Over the years, major market players have focused on different surgical Instruments products that were typically used in minimal surgeries. The launch of new market companies, adequate funding, and government-aided policies help in the development of surgical Instruments products. The continuous developments in the Surgical instruments Market such as advanced technologies, increasing funding amount of start-up’s and research organizations, and surge in the number of product and surgical Instruments products are the major factors set to drive the Surgical Instruments Market during the forecast period 2021-2026.