The global market for surgical equipment has grown at a significant pace over the past few years. Factors including the rising prevalence of chronic health conditions such as cancer and cardiovascular diseases and the resultant rise in the number of surgical procedures, the burgeoning demand for minimally invasive procedures, and the rising global population of geriatrics are largely responsible for the market’s growth over the years.
An increased demand for surgical equipment has also been observed in the past few years owing to the rising popularity of minimally invasive surgical procedures. Advantages such as precise incisions, reduced post-surgery complications, reduced side effects, minimal blood loss, shorter span of hospital stay, and faster recovery span make minimally invasive surgical procedures the preferred choice of surgery among patients.
The market for surgical sutures and staples, a key product segment of the global surgical equipment market, faces a considerable threat from advanced wound closure materials such as sealants, fibrin, high-strength medical adhesives, glues, etc. These products are being increasingly preferred by healthcare providers and surgeons owing to their benefits such as reduced blood loss, reduced healing time, and improved clinical outcomes.
The market for surgical equipment is highly fragmented owing to the presence of a large number of local manufacturers and multinationals. Some of the key businesses operating in the market include B. Braun Melsungen AG, Covidien plc, ERBE Elektromedizin GmbH, Aspen Surgical Products, Inc., and Integra LifeSciences Holdings Corporation.
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