Europe Surgical Equipment Market

Market Overview

The Europe surgical equipment market size experienced significant growth in the past and is expected to grow at a CAGR of 0.61% during the forecast period (2023-2030).

Surgical equipment is a collection of devices used to make physical changes to biological tissue or get access to internal organs. The development of modern electronic technologies, such as minimally invasive surgery equipment and robotic and power-aided systems, is driving the growth of the surgical equipment market. Surgical equipment is made up of components that have been produced via substantial research and development to aid medical professionals in completing certain tasks during surgical procedures. 

The European surgical instrument market is propelled by the widespread adoption of invasive surgical procedures and the rise of multinational corporations acquiring local manufacturers. The European surgical instrument market is propelled by the widespread adoption of invasive surgical procedures and the rise of multinational corporations acquiring local manufacturers.

Market Dynamics

Europe Surgical Equipment Market Drivers:

Growing Investment in Healthcare Infrastructure

Europe has made substantial investments in expanding and modernizing its healthcare infrastructure, positively affecting the surgical equipment market. For instance, countries like Germany, France, and the United Kingdom have undertaken significant initiatives to enhance their healthcare infrastructure, including constructing new hospitals and surgical centers. The German government has recently allocated considerable funds to construct and renovate hospitals, surgical facilities, and outpatient clinics. This investment has enabled the acquisition of sophisticated surgical equipment to meet the rising demand for surgical procedures. The European Investment Bank (EIB) invested €3.1 billion in healthcare initiatives across Europe, including the construction and modernization of hospitals and healthcare facilities, in 2020 alone, according to EIB data. This demonstrates the significant emphasis placed on enhancing healthcare infrastructure, directly driving the demand for surgical equipment. 

Europe Surgical Equipment Market Restraints:

Strict Regulatory Environment

The European surgical equipment market is governed by stringent regulatory bodies such as the European Medicines Agency (EMA) and the Medical Device Regulation (MDR) of the European Union. These regulations assure patient safety and the efficacy of surgical equipment, but compliance and market entry can be challenging for manufacturers. Implementing the Medical Device Regulation (MDR) in May 2021 exemplifies the stringent regulatory environment in Europe. The MDR imposes stricter requirements for clinical data, post-market surveillance, and quality management systems on manufacturers of medical devices. Complying with these requirements can be costly and time-consuming, delaying product approvals and market accessibility. 

Europe Surgical Equipment Market Opportunities:

Rising Demand for Electrosurgical Devices

Due to the rising demand for electrosurgical instruments, the European market represents a significant opportunity for manufacturers of these devices. Electrosurgical devices are used for cutting, coagulating, and ablating tissue during surgical procedures. According to data from the European Association for Endoscopic Surgery (EAES), the number of laparoscopic procedures conducted in Europe has increased significantly. In countries such as Germany and France, the incidence of laparoscopic cholecystectomies (gallbladder removal) has increased significantly. 

Regional Analysis

The Europe surgical equipment market is segmented by country: Germany, France, the U.K., Spain, Benelux, Rest of Europe. Germany dominated the market with a CAGR of 0.85% during the forecast period.

The Europe surgical equipment market is characterized by significant growth potential, driven by factors such as the rising geriatric population, increasing prevalence of chronic diseases, and advancements in healthcare infrastructure. Countries within Europe, including Germany, France, and the U.K., have well-established healthcare systems and high healthcare expenditures, contributing to market growth. Additionally, technological advancements, favorable reimbursement policies, and increasing adoption of minimally invasive surgeries further fuel the market's expansion in the region. 

Segmental Analysis

The European surgical equipment market is segmented into type, application, end-user, and products.

The market is segmented by type into disposable and reusable. 

Reusable holds the major share in the market and is expected to register a CAGR of 6.1% over the forecast period.

Reusable surgical equipment

Reusable surgical equipment refers to devices that can be reprocessed, sterilized, and utilized more than once. Typically, these devices are made of resilient materials such as stainless steel or high-quality composites. Examples of reusable surgical equipment include forceps, scissors, retractors, surgical instruments, and laparoscopic instruments.

It is further segmented by application into neurosurgery, plastic and reconstructive surgery, wound closure, obstetrics, gynecology, cardiovascular, trauma, orthopedic, ophthalmic, and others.

Others topped the market and are expected to register a CAGR of 7.2% over the forecast period.

Others

Disposable surgical equipment's "others" category includes a range of surgical specializations and techniques. It comprises thoracic, ENT, urology, general, gastrointestinal, bariatric, and oral and maxillofacial surgery. This market category entails various applications for unique disposable tools, drapes, and consumables designed for each process.

It is further segmented by end-user into hospitals, clinics, ambulatory centers, and others.

Hospitals and Clinics took over the market and are expected to register a CAGR of 8.5% over the forecast period.

Hospitals and clinics

Hospitals and clinics are two examples of disposable surgical equipment's end users. Examples of healthcare environments include large hospitals, outpatient clinics, private offices, and clinics with a particular specialty. They provide various surgical treatments across different specialties, employing disposable surgical equipment to ensure sterility and secure surgical procedures.

It is further segmented by product into surgical sutures and staplers, handheld surgical devices, electrosurgical devices, and surgical kits.

Surgical sutures and staplers have surpassed the market and are expected to register a CAGR of 8.2% over the forecast period.

Sutures and staplers

Tools like surgical staplers and sutures are necessary for closing wounds during surgical procedures. Disposable sutures, such as absorbable and non-absorbable sutures, are employed to sew together tissues or surgical incisions. Utilizing sterile staples, disposable staplers offer a rapid and effective way to close wounds or unite tissues.

It is further segmented by application into neurosurgery, plastic and reconstructive surgery, wound closure, obstetrics, gynecology, cardiovascular, trauma, orthopedic, ophthalmic, and others.

Others overtook the market and are expected to register a CAGR of 7.3% over the forecast period.

Others

The "others" category contains reusable surgical equipment in various surgical specialties. It includes instruments and devices for procedures like ENT, urology, general surgery, and oral and maxillofacial surgery.

It is further segmented by end-user into hospitals, clinics, ambulatory centers, and others.

Hospitals and Clinics led the market and are expected to register a CAGR of 6.8% over the forecast period.

Hospitals and clinics

The majority of the time, hospitals and clinics are the ones that use reusable surgical equipment. Large hospitals, outpatient clinics, individual groups, and clinics that focus on a certain type of care are all examples of these places. Using a variety of techniques, they can be used to create a wide range of outcomes. Instruments, drapes, and other devices used during surgery are part of the tools. These devices help clean the area, allowing quick and cost-effective healthcare delivery.

It is further segmented by product into surgical sutures and staplers, handheld surgical devices, electrosurgical devices, and surgical kits.

Handheld Surgical Devices are major market shareholders and are expected to register a CAGR of 6.5% over the forecast period.

Handheld surgical devices

Handheld surgical devices are reusable gadgets that surgeons employ throughout various surgical operations. These devices include forceps, scissors, retractors, clamps, and scalpels, all tailored for specialized surgical duties. Handheld surgical devices that may be reused are often built of sturdy materials that can endure sterilizing processes, allowing for repeated usage in operations.

Recent Developments

• May 2023- Using Stryker's Q Guidance System with Cranial Guidance Software, surgeons could perform the first surgical procedures effectively.
• May 2023- Through AI-driven planning software and a data visualization platform, Smith+Nephew contributes to the individualization of surgical procedures allowed by robotics.
• June 2023 - B.D. Announces the Launch of a New Robotic System to Automate Clinical Flow Cytometry