According to Future Market Insights' most recent industry report, the global general surgery devices market was valued at around US$ 12.0 billion in 2022 and is set to grow at a CAGR of 6.4% over the forecast period, reaching a projected valuation of US$ 23.8 billion in 2033.
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 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.
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 in order 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.
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 Market Segments Covered in the General Surgery Devices Industry 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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