Published By : 01 Apr 2016 | Published By : QYRESEARCH
The global surgical equipment market has been significantly propelled by the escalating incidence of diseases and injuries that require surgical procedure to heal. The worldwide increase in the geriatric population and the emergence of minimally invasive surgical procedures have boosted the demand for advanced surgical equipment extensively over the last few years.
Rapid Rise in Medical Tourism Propels Asia Pacific Surgical Equipment Market
Asia Pacific and the Rest of the World are likely to exhibit a high growth rate in the coming years, owing to the economic developments, high unmet needs, and continuous improvement in the reimbursement scenario in these regions.
The rapid development of the medical tourism industry in Asian economies such as Thailand, India, Malaysia, Singapore, and South Korea is propelling major healthcare providers in this region to equip themselves with the latest surgical devices, which is boosting the Asia Pacific surgical equipment market to a great extent. However, the major international manufacturers of surgical equipment are likely to face strong competition from local producers in Asia Pacific on account of the cost efficiency they offer to consumers.
Demand for Electrosurgical Devices to Increase in Near Future
Surgical sutures and staples are the most demanded surgical equipment in the global arena. Collectively, both the segments accounted for a share of more than 55% in the overall market in 2012. However, in the coming years, the electrosurgical devices segment is likely to surpass the surgical suture segment and the staples segment on account of their imminent maturation in several regional markets. The surgical handheld instruments segment is also expected to witness a steady growth over the next few years.
Stryker Corp., Medicon eG, KLS Martin LP, Integra LifeSciences Holdings Corp., Ethicon Inc., ERBE Elektromedizin GmbH, Covidien Plc, CONMED Corp., CareFusion Corp., B. Braun Melsungen AG, and Aspen Surgical Products Inc. are the major surgical equipment manufacturers across the world.