The global general surgery devices market comprises products that are used to perform different surgical procedures in various therapeutic areas such as cardiology, orthopedic, gynecology, urology, and plastic surgery. The increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, and gastrointestinal disorders has amplified the demand for various general surgery procedures. This has positively impacted the sales of general surgery devices globally.
The global general surgery devices market size is projected to grow from US$ 16.46 billion in 2024 to US$ 27.39 billion by 2031 at a CAGR of 9.1% over the forecast period.
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 new product launches and geographical expansion to strengthen their market position.
The rising number of ambulatory surgical centers and hospitals globally along with increasing medical Global General Surgery Devices Market Trends tourism in low-cost countries provide lucrative growth opportunities. Furthermore, companies are investing heavily in R&D to develop advanced and innovative products.
North America dominates the global market due to the increasing healthcare expenditure and presence of major players. However, Asia Pacific is expected to witness the highest growth during the forecast period owing to growing geriatric population, rising healthcare standards, and increasing focus of international players.
Market Drivers
The primary driver boosting the global general surgery devices market is the increasing prevalence of chronic diseases worldwide. According to the WHO, chronic diseases accounted for approximately 60% of the global burden of disease in 2001 and are projected to make up 73% of all deaths globally by 2020. Additionally, favorable reimbursement policies for surgical procedures especially in developed regions and growing medical tourism in low-cost countries further supports the market growth. Technological advancements resulting in the development of innovative and less invasive surgical products is another major factor fueling the demand.
PEST Analysis
Political: The market is influenced by regulations and guidelines related to the safety and effectiveness of general surgical devices set by regulatory bodies like the FDA. Reimbursement policies by healthcare systems also impact demand.
Economic: Factors like GDP growth, disposable incomes, and healthcare spending affect spending on surgical procedures and devices. Economic downturns may delay elective procedures.
Social: An aging population undergoing more general surgeries drives demand. Patients also prefer minimally invasive surgeries, favoring adoption of advanced devices. Lifestyle diseases also contribute to surgical volumes.
Technological: Innovation leads to new categories of devices, like energy devices, that improve outcomes. Adoption of technologies like robotics enable less invasive options. Advancements in material sciences aid development of innovative products.
Geographical Regions
North America holds the major share due to higher healthcare spending, surgical volumes, and device adoption rates. Reimbursement policies and infrastructure also support market growth.
The Asia Pacific region is growing fast due to expanding medical tourism industries, a rising middle class undergoing more procedures, and improving access and infrastructure in developing nations. Demand is increasing for affordable devices to meet local needs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.