General Surgical Devices Market Size, Share & Trends Analysis Report By Type (Disposable Surgical Supplies, Open Surgery Instrument, Energy-based and powered instrument, Minimally invasive surgery instruments, Medical robotics, Others), By Product (Handheld Devices, Laparoscopic Devices, Others), By Application (Orthopedic, Cardiology, Wound Care, Neurosurgery, Others), By End-User (Hospital/Clinics, Ambulatory clinics, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The general surgical devices market size was valued at USD 15.92 billion in 2022 and is projected to reach USD 31.22 billion by 2031, with a CAGR of 7.9% during the forecast period 2023–2031.

General surgery devices are medical instruments that are used for common and sophisticated surgical procedures. The majority of these instruments are used for cutting and dissecting, grabbing and holding, clamping and occluding, exposing and retracting, suturing and stapling, viewing, and suctioning. Surgeons, dentists, and other specialists in the diagnosis and surgical delivery of patient care clean and sanitize them routinely. Globally, they are currently utilized in orthopedics, neurology, obstetrics, urology, and gynecology.

Market Dynamics

What are the Driving Factors for The Global General Surgical Devices Market?

In the last few decades, global healthcare expenditure has increased by several folds. Centre for Medicare and Medical Services is expecting 5.5% growth every year in the U.S. national health spending and is expected to reach USD 5.7 trillion by 2026. General surgical devices are necessary to manage multiple healthcare conditions such as thoracic, abdominal, and orthopedic, among others. Globally, the total volume of surgeries has increased, which also increased the demand for general surgical devices.

The rising disease burden and novel medical therapies account for over two-thirds of the increase in spending. Over the predicted period, healthcare spending in nations such as India and China is expected to rise. According to a World Economic Forum analysis, emerging economies will account for one-third of all global health spending by 2026. Furthermore, some investments in the health sector provide good long-term financial returns. Health care is one of those areas where people's expenditure tends to rise as their income rises.

The market is likely to be driven by an increase in the number of surgeries done as well as technological advances. Furthermore, increasing patient awareness and affordability of plastic or reconstructive operations might lead to fewer interventions during the prognostic period. The growing geriatric population and rising prevalence of infectious diseases are expected to support the market growth further. The early adoption of unhealthy habits such as cigarette smoking and consumption of alcohol is causing various diseased conditions. Additionally, the growing number of road accidents and rising demand for disposable supplies such as syringes, needles, lancets, and others are pushing the market ahead.

What are the Challenges for The Global General Surgical Devices Market?

Increased risk and unavailability of medical facilities in underdeveloped regions are some of the challenges manufacturers need to address if they want to expand their market presence and revenue. Ineffective, uncertain, and costly regulatory processes endanger the medical device industry. The pre-market procedure for devices that involve dialogue with the FDA regarding a clinical study for the low to moderate-risk device prior to regulatory filing takes an average of 30 months. In Europe, it takes an average of seven months to author the same gadgets. As a result, the extensive and stringent regulatory processes, as well as the reduction in reimbursement situations, are projected to hinder the general surgical devices market growth.

The market also faces challenges, such as the development of new minimally invasive surgery technologies and fierce competition among existing general surgery device makers. However, repayment concerns have stopped many market participants from entering the market. This hampered the market's expansion. Furthermore, other variables such as product recall, government laws aimed at lowering overall healthcare costs, and the resulting increase in wholesale purchasing all provide challenges to the market's growth pace.

What are the Future Opportunities for The Global General Surgical Devices Market?

Advancing healthcare technology and the lack of medical facilities in developing areas are offering growth opportunities to enter the untapped market. The market is projected to be driven by global healthcare initiatives for sophisticated surgical techniques. Furthermore, technological improvements are assisting in market expansion. As a result, several companies are investing in R&D to create better surgical devices. The development of medical robots to aid surgeons, for example, is a significant accomplishment in the profession. Medical robots have various benefits, including a 3D perspective of the operating field, less blood loss and transfusions, lower infection risk, faster recovery time, little scarring, and high precision, which is driving the market growth rate. One of the technological breakthroughs is the general surgical devices market's demand for minimally invasive procedures and robotic and computer-assisted devices, which reduces surgery time and problems. This has created new opportunities for the global general surgical instruments market to flourish. Major corporations compete with new product launches, increased geographic presence, and creative and educational offers that promise profitable market potential in the next years.

Regional Analysis

Globally, the general surgical devices market share is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America has a well-developed healthcare sector, especially in the U.S. and Canada. The sector is also known to adopt advanced technology more rapidly to serve the large patient pool better. Here, people spend a huge sum on healthcare to receive quality treatment. Every year, a huge amount of surgeries is being performed in the region. As a result of the high prevalence of various chronic, acute, and lifestyle-related diseases such as diabetes, stroke, and obesity.  For instance, over 48 million surgeries were performed in 2009, and the number has grown many folds since then.  Moreover, 1,258,581 cesarean deliveries were performed in the U.S. in 2016, which is 31.9% of total births. It makes the region one of the most prominent markets globally.

Europe is estimated to be the second-largest market, followed by the Asia Pacific. The increasing volume of surgery in the region and the rapid adoption of the latest technology are driving its growth. For instance, in 2014, over 4.2 million cataract surgery was conducted in European Union countries.

Asia Pacific general surgical device market is expected to grow at the fastest CAGR during the forecast period. This is attributed to the growing number of surgeries, the largest diabetic and obese population,  and huge investment in the healthcare sector by the governments and private players. According to the International Diabetes Federation (IDF), over 47% of Chinese adults are likely to have diabetes or prediabetes. Additionally, a high rate of road accidents is further boosting the market growth. According to the Supreme Court of India (Committee for Road Safety), 1,50,935 people died in a road accident in 2016.

LAMEA is expected to show healthy growth during the forecast period on account of the growing geriatric population and an increasing number of surgeries in the region. Moreover, the lack of medical facilities in Africa may slow down the growth trajectory in the years to come.

Segmental Analysis

The global general surgical devices market is segmented by type, product, applications, and end-users.

By type, the market is segmented into disposable surgical supplies, open surgery instruments, energy-based and powered instruments, minimally invasive surgery instruments, medical robotics, and others. The disposable surgical supplies segment is expected to dominate the market owing to the increasing volume of surgeries being performed across the globe. On the other hand, minimally invasive surgery instruments would witness the fastest growth due to the rising adoption of minimally invasive cosmetic and orthopedic surgeries across the globe.

On the basis of application, the market is segmented into orthopedics, cardiology, wound care, neurosurgery, and others. In 2021, the orthopedic surgery sector dominated the market and accounted for more than 17.40% of the overall revenue. Due to the rising incidence of bone diseases and the expanding geriatric population worldwide, this segment will maintain its dominance during the projection period. Additionally, product advancements, attractive reimbursement, and increasing diagnosis methods and imaging technologies are projected to drive the orthopedic surgery market.

The cardiology segment is estimated to account for the second-largest share by 2030 owing to the rising cases of cardiovascular disorders. According to the WHO, 32% of all deaths in 2019 were attributed to CVDs or 17.9 million deaths worldwide. Heart attacks and strokes accounted for 85 percent of these deaths. In addition, the incidence of fatal heart attacks, cardiac arrests, and strokes was high in 2021 due to heredity and lifestyle changes that contributed to a range of illnesses, including hypertension, cholesterol, diabetes, and obesity. During these periods of unpredictability, people have also experienced a great deal of worry. A number of variables contribute to the development of deadly diseases, including excessive stress, poor sleep, excessive alcohol, and drug usage, smoking, supplement abuse, and excessive exercise.

By end-users, the market is segmented into hospitals, clinics, ambulatory clinics, and others. In 2021, the hospital segment led the global industry and generated more than 58.85 percent of the total revenue. The bulk of hospitals and healthcare facilities, according to a report, are located in Asia-Pacific, supporting industry growth. In addition, increasing healthcare costs in developed and developing countries may result in a rise in the number of hospitals, which is anticipated to enhance demand for general surgical tools and fuel segment expansion.

Based on the product, the market is segmented into handheld devices, laparoscopic devices, and others. Handheld surgical instruments have the biggest market share due to the increase in the number of surgeries conducted worldwide and their widespread application in all sorts of surgical procedures. Nevertheless, the global market for manual handheld surgical tools is anticipated to drop throughout the projected period as customer preferences shift from traditional (invasive) to minimally invasive surgeries. Due to the increasing demand for minimally invasive operations and technological advancements, the electrosurgical devices segment has the highest growth rate.

Impact of covid-19

The pandemic led to a temporary lockdown of the nations, which on a wide scale hindered the verticals of businesses and the industry. The automobile industry, which primarily involves outdoor jobs, has been poorly exposed to the challenges that have contributed to a dramatic decrease in car sales. Furthermore, the instability of the supply chain market mainly due to the closing of national and foreign borders and the adherence to the decision not to use Chinese produced products hampered the growth of the market. However, the considerable spike seen in the sale of the automotive vehicle to limit the usage of public and crowded places may positively affect the growth of the market in the upcoming years.

Recent Developments

• In August 2022, Virtual Incision Corporation announced that its MIRA Platform would be tested in space during a technology demonstration mission on the International Space Station in 2024. (ISS)
• In June 2022, the US Food and Drug Administration approved and launched Xenco Medical's Multilevel CerviKit. This was an expansion of Xenco Medical's groundbreaking single-use cervical spine technology to include a full set of implants and single-use instruments for 2, 3, and 4-level anterior cervical spine procedures.
• In January 2017, Megadyne Medical Products, Inc. bought Ethicon Endo-Surgery. Ethicon Endo-Surgery, Inc. is a privately held company that makes many electrosurgical tools that are used in operating rooms around the world.