Prospects and Trends: General Surgery Devices 2023 To 2033 Forecast
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$ 23.6 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 being 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 market growth.
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The requirement of surgical procedure is in high demand due to advancements in the 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 product, and held around 2% market value share in 2022, owing to aesthetically minimizing wounds and allowing doctors to conceal scars.
Colorectal surgery segment is set to lead among application segment of general surgery devices market with a projected market value share of around 7% by 2033, owing to the rising prevalence of colorectal cancer
By end user, hospitals held a share of around 2% in 2022 due to preference of patient to visit hospitals for surgical procedures compared to other end user settings.
North America held a value share of around 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.
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 a U.S.-based cooperation in November 2022.
Key Companies Profiled:
Janssen Pharmaceutical
Medtronic Plc
Becton, Dickinson and Company
Olympusm Corporation
B. Braun Melsungen AG
Stryker Corporation
Smith & Nephew Plc
KARL STORZ GmbH & Co. KG
Richard Wolf GmbH
CooperSurgical, Inc.
Intuitive Surgical Inc
Endocontrol SA
Hangzhou Kangji Medical Instrument Co., Ltd
Zhejiang Geyi Medical Instrument Co., Ltd
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
Gynaecological Surgery
Other Surgery
End User:
Hospitals
Ambulatory Surgical Centres
Clinics
Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
The Middle East and Africa (MEA)
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