Market Dynamics
North America Surgical Equipment Market Drivers:
Strong Healthcare Infrastructure
North America's well-developed healthcare infrastructure drives the surgical equipment industry. The availability of modern medical facilities, hospitals, and surgical centers fosters an atmosphere favorable to adopting and using surgical equipment. The Mayo Clinic, headquartered in Rochester, Minnesota, is a world-renowned healthcare facility. It is outfitted with cutting-edge surgical technology and state-of-the-art surgical facilities. The Mayo Clinic's substantial healthcare infrastructure allows for using modern surgical equipment in various disciplines. North America has a high density of hospital beds, with an average of 5.9 beds per 1,000 inhabitants, according to the World Health Organization (WHO). This reflects the region's well-established healthcare infrastructure, which provides chances for deploying and using surgical equipment.
North America Surgical Equipment Market Restraints:
Reimbursement Challenge
The North American reimbursement structure may present issues for the surgical equipment industry. Limited coverage or reduced reimbursement rates for certain surgical procedures and equipment might stymie market expansion and acceptance. There are payment issues with medical devices, particularly surgical equipment, in the United States. Some novel surgical technology or treatments, for example, may experience difficulties in receiving acceptable payment coverage from insurance companies. This may influence healthcare facilities' propensity to invest in and use these technologies, impacting market growth. Research published in the Journal of the American Medical Association (JAMA) emphasized the difficulties related to surgical innovation reimbursement in the United States. According to the report, the reimbursement process for novel surgical techniques or devices is frequently delayed and ambiguous, creating hurdles to obtaining and utilizing innovative surgical equipment.
North America Surgical Equipment Market Opportunities:
Growing Research and Development Activities
North America is well-known for its robust healthcare research and development (R&D) operations. Ongoing research and development activities promote the development of novel surgical procedures, technologies, and equipment, supporting continual innovation in the surgical equipment industry. The Cleveland Clinic, located in Ohio, is a world-class academic medical facility with a strong emphasis on research and innovation. The clinic regularly participates in research partnerships and clinical studies to develop and test new surgical techniques, technologies, and equipment. These research activities help develop surgical equipment and practices that assist patients around North America. According to the National Science Foundation, the United States accounted for around 37% of worldwide R&D spending in 2019. North America's large investment in R&D activities demonstrates the region's dedication to developing healthcare via research, which includes the creation of breakthrough surgical equipment.
Regional Analysis
The North American surgical equipment market is segmented by country: The U.S. and Canada. The U.S. dominated the market with a CAGR of 0.71% during the forecast period.
The surgical equipment market in North America, including the United States and Canada, is influenced by advanced healthcare infrastructure, increased demand for bariatric surgery, and a substantial population of older adults. The North American region benefits from a significant demand for bariatric surgery, a well-established healthcare infrastructure, and a large senior population, contributing to market growth. In North America, the United States dominates the surgical instruments market, holding over three-fourths of the market share in 2019, and is expected to maintain this trend in the forecast period. According to the Association for Safe International Road Travel, road accidents also significantly shape market growth, as nearly 2.35 million people are injured annually. The increasing number of road accident cases directly influences the demand for surgical procedures and equipment.
The U.S.
The U.S. surgical equipment market dominates the North American region, accounting for a significant market share. With a well-developed healthcare infrastructure, a large geriatric population, and high demand for surgical procedures, the U.S. market continues to exhibit strong growth potential. It is anticipated to maintain its leading position in the region during the forecast period, driving innovation and advancements in surgical equipment technologies.
Canada
The Canadian surgical equipment market is characterized by steady growth, driven by factors such as the increasing prevalence of chronic diseases, advancements in healthcare infrastructure, and a growing senior population. The demand for minimally invasive surgeries is also rising, expanding the market.
Segmental Analysis
The North American surgical equipment market is segmented into type, application, end-user, and products.
The market is segmented by type into disposable and reusable.
Reusable holds a major market share and is expected to register a CAGR of 5.9% over the forecast period.
Reusable Surgical Equipment
Devices that can be cleaned, sterilized, and used again are reusable surgical equipment. Usually, these gadgets are constructed of strong materials like stainless steel or premium plastics. Forceps, scissors, retractors, surgical tools, and laparoscopic instruments are some reusable surgical supplies.
It is further segmented by application into neurosurgery, plastic and reconstructive surgery, wound closure, obstetrics, gynecology, cardiovascular, trauma, orthopedic, ophthalmic, and others.
Wound Closure influenced the market and is expected to register a CAGR of 8.5% over the forecast period.
Wound closure
The process of closing surgical incisions or wounds is referred to as wound closure. Sutures, staples, adhesive tapes, and wound dressings are disposable surgical equipment for wound closure. These devices help in the healing process by allowing for the secure closure and protection of wounds.
It is further segmented by end-user into hospitals, clinics, ambulatory centers, and others.
Hospitals and Clinics have surpassed the market and are expected to register a CAGR of 8.2% over the forecast period.
Hospitals and clinics
Included among the end-users of disposable surgical equipment are hospitals and clinics. Healthcare environments include large medical institutions, ambulatory clinics, private offices, and specialty-focused clinics. Using impermanent surgical equipment to ensure sterility and the safety of surgical interventions, they provide a vast array of surgical procedures in various specializations.
It is further segmented by product into surgical sutures and staplers, handheld surgical devices, electrosurgical devices, and surgical kits.
Surgical sutures and staplers hold the major share of the market and are expected to register a CAGR of 7.9% over the forecast period.
Sutures and staplers
Sutures and staplers are indispensable instruments for closing surgical wounds. Utilizing absorbable and non-absorbable sutures, tissues or surgical incisions are stitched or held together with disposable sutures. Utilizing sterile staples, disposable staplers are a fast and efficient way to close incisions or join tissues.
Reusable types of equipment are further segmented into application, end-user, and product.
It is further segmented by application into neurosurgery, plastic and reconstructive surgery, wound closure, obstetrics, gynecology, cardiovascular, trauma, orthopedic, ophthalmic, and others.
Wound Closure led the market and is expected to register a CAGR of 6.9% over the forecast period.
Wound closure
Reusable surgical tools, including skin hooks, tissue forceps, and needle holders, are examples of reusable surgical equipment for wound closure. With sutures or staples, these tools are used to seal surgical incisions or wounds.
It is further segmented by end-user into hospitals, clinics, ambulatory centers, and others.
Hospitals and Clinics influenced the market and are expected to register a CAGR of 6.6% over the forecast period.
Hospitals and clinics
Major end-users of reusable surgical equipment include hospitals and clinics. This category includes large medical institutions, ambulatory clinics, private practices, and specialty clinics. They perform surgical procedures in various specialties using reusable, sterilized, and reused surgical equipment. The equipment consists of surgical instruments, drapes, and other devices, ensuring sterility and allowing for efficient 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 the highest contributor to the market and are expected to register a CAGR of 6.2% over the forecast period.
Handheld Surgical Devices
Reusable handheld surgical devices are instruments surgeons use in various surgical procedures. These devices include forceps, shears, retractors, clamps, and scalpels for specific surgical procedures. Typically, reusable, portable surgical devices are constructed from materials that can withstand sterilization processes, allowing for repeated use in operations.
