European Surgical Instruments Market Overview
The European Surgical Instrument Market is driven by the widespread adoption of intrusive surgical procedures and increase in acquisition of local manufactures by multinational companies.The European Surgical Instruments market was valued at $XX in 2017 and is projected to reach $XXm by 2023, growing at a CAGR of XX% during the forecast period 2018–2023. Europe dominates the global surgical instruments market owing to world-class healthcare infrastructure, higher number of surgeries being performed, and higher spending on healthcare by its residents.
European Surgical Instruments Market Outlook
Surgical Instruments can be defined as small spectacles that require magnifying optics. Surgical instruments are tools or devices that are designed to help in a variety of procedures such as cutting, dissecting, grasping, holding, retracting, or suturing during a surgical process. Most of these surgical instruments are made from stainless steel. However, with the advancement in technology, other metals such as titanium, chromium, vanadium, and molybdenum are also being widely adopted in the manufacture of surgical instruments. Globally, the increasing aging population and rising number of minimal invasive surgeries being performed are expected to be the key growth drivers for the surgical instruments market in Europe during the forecast period.
European Surgical Instruments Market Growth Drivers
The growing demand for Surgical Instruments in Europe is due to technical advancements and widespread acceptance of intrusive surgical procedures. The rising geriatric population, increasing demand for minimally invasive procedures, increasing number of surgical procedures, and improving healthcare infrastructure in emerging economies are expected to drive the region’s market for surgical instruments. In addition, increasing prevalence of chronic diseases, improving lifestyle and rising healthcare expenditure are also fueling the growth of the European surgical equipment market
European Surgical Instruments Market Challenges
The entry of robotic surgery is the latest development that is affecting the surgical instruments market in Europe.
European Surgical Instruments Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the European surgical instruments market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of surgical instruments, and their specific applications.
European Surgical Instruments Market Report: Industry Coverage
By Types of Surgery of European Surgical Instruments: Open Surgery and minimal Invasive surgery
Product of European Surgical Instruments: Handheld Instruments, Guiding Devices, Inflation Systems and Others
Applications of European Surgical Instruments: Cardiothoracic Surgery, Gastrointestinal Surgery, Orthopedic Surgery, Gynecological Surgery, Cosmetic/Bariatric Surgery, Vascular Surgery, Urological Surgery and Other
European Surgical Instruments Market Key Players Perspective
Some of the key players mentioned in this report are Conmed Corporation, Cardan Medical Products, and Steris PLC.
European Surgical Instruments Market Trends
- Surgical instruments belong to the specialties clinical stream – they must be disposed of by following the U.K. clinical waste management regulations.
- The development of various surgical techniques in several medical fields such as neurology, urology, orthopedics, and gynecology is influencing the growth of the surgical instruments market in the U.K.
- Germany, Belgium, the Netherlands, the U.K., Luxemburg, and Ireland are some of the major producers of surgical instruments in Europe.
- Cardinal Health accounted for 7% of the market share in 2017, the third highest revenue generated by a company in the European surgical instruments market in 2017.