Surgical Equipment Market to 2018

Sept. 7, 2012 - PRLog -- More and more surgical procedures are being performed globally every year, driving the demand for new and improved surgical equipment, states a new report by healthcare experts GBI Research.

The new report* shows that this increase in surgical procedures is due to improving healthcare infrastructure in emerging countries, increasing cases of lifestyle diseases and technological innovations boosting the possible workload of surgeons.

According to the Centre for Disease Control (CDC), approximately 48 million surgical procedures are performed in the US each year, while emerging countries such as India and China hold huge future potential for surgery due to increased healthcare expenditure and huge patient populations. The spread of westernised living standards has led to a worldwide increase in diseases such as obesity, lung cancer, cardiovascular diseases and kidney disorders, expanding the patient population eligible for surgery.

Accessibility, affordability and patient comfort are also driving up demand for outpatient procedures. Outpatient surgery are found to be more cost-effective than inpatient surgeries, as they eliminate hospitalization costs, minimize the time spent in the operating theatre, and cut costs for staffing and travel.

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Advances in anesthesia, surgical techniques and devices, have changed the way surgery is performed. Minimally Invasive Surgeries (MIS) can be applied to most surgical specialties, such as neurology, cosmetic, cardiothoracic, ophthalmology, orthopedic, urology, vascular and dentistry. MIS offer several benefits such as reduced post-operative pain, less visible scarring, faster recovery, reduced risk of infection, reduced bleeding, and improved accuracy. The use of laparoscopes means that surgeries such as hernia repairs and gallbladder and appendix removals can be carried out in outpatient settings, while laser vision correction is a popular outpatient procedure that also relies on new technology.

A growth in the number of Medicare-certified Ambulatory Surgical Centers (ASCs) in the US is also driving the demand for surgical equipment. ASCs have resulted in an improved accessibility resulting in an increased number of surgeries.

The increasing volume of surgical procedures being carried out is resulting in a growing demand for surgical equipment such as surgical sutures, electrosurgical devices and hand instruments. The global market for surgical equipment is therefore forecast to exceed $7 billion by 2018, following growth at a Compound Annual Growth Rate (CAGR) of 4.2% during 2011-2018

The report provides market landscape, competitive landscape and market trends information on the three surgical equipment market categories: surgical sutures, hand instruments and electrosurgical devices. It gives comprehensive information on the key trends affecting these categories, and key analytical content on the market dynamics. The report also reviews the competitive landscape, giving a detailed analysis of the pipeline products in each category, and also reviews details regarding important merger and acquisition deals that have taken place in the global surgical equipment market.

The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.

GBI Research is a market-leading provider of business intelligence reports, offering actionable data and forecasts based on the insights of key industry leaders to ensure you stay up-to-date with the latest emerging trends in your markets.

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