Surgical Equipment Market Size Worth $32.96 Billion By 2032 | CAGR: 8.8%

The global surgical equipment market size is expected to reach USD 32.96 billion by 2032, according to a new study by Polaris Market Research. The report “Surgical Equipment Market Share, Size, Trends, Industry Analysis Report, By Product (Surgical Sutures & Staplers, Handheld Surgical Devices, Electrosurgical Devices); By Type; By Application; By Region; Segment Forecast, 2024-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The surgical equipment is in demand with the rising prevalence of healthcare problems that require surgery as a treatment procedure. In some of the health conditions, such as orthopedics, neurosurgery, plastic surgery, gynecology and others, doctors conduct surgeries. Based on the Yale Medicine statistics, around 3 million Americans have implanted pacemakers, and about 70% of them are elderly adults. As more people witness the disease, there will be a significant demand for surgical equipment in the global marketplace.

The growing incidence of bone-related health issues is one of the major factors driving surgery rates around the world. According to the Centers for Medicare and Medicaid Services, knee and hip replacement surgeries are expected to grow by 139% and 176%, respectively, by 2040.  Furthermore, aesthetic surgeries are witnessing significant demand among the Gen Z population (people born between 1990 and 2000). According to the International Society of Aesthetic Plastic Surgery Report 2023, the number of people receiving aesthetic surgery treatment has increased by 41.3% in the past four years.

The increasing number of obesity cases, followed by obesity-linked chronic health issues, is making patients prefer bariatric surgeries. According to the KD Hospital in Ahmedabad, India, 20% of all surgeries account for obesity in 18-20 year-old adults.

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The growing utilization of advanced technologies in the healthcare industry is showcasing enormous potential for the surgical equipment market due to its potential to promote safety, precision, and convenience. For instance, in September 2023, Jerome Canady Research Institute for Advanced and Biological Technological Sciences and U.S. Medical Innovation launched a new Canady Robotic AI Surgical System. Additionally, in April 2023, Perlove Medical unveiled its latest orthopaedic surgery robot.

Surgical Equipment Market Report Highlights

• Surgical sutures and staplers’ segment is anticipated to witness the highest growth in the coming years due to increased chronic wounds driven by diabetics.
• Disposable segment accounted for the largest market share owing to its ease of use, affordability, and lower need for maintenance.
• Radiology and urology segment is projected to experience a larger revenue share due to the rising number of kidney stones and brain tumors.
• APAC is projected to register the fastest growth during the forecast period, attributable to the increasing chronic kidney health problems.
• The global players include Aspen Surgical, B. Braun SE, BD, GPC Medical, IndoSurgicals Private Limited, Johnson & Johnson, Medtronic, & Stryker

Polaris Market Research has segmented the surgical equipment market report based on product, type, application, and region:

Surgical Equipment, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Surgical Sutures & Staplers
• Handheld Surgical Devices
  • Forceps & Spatulas
  • Retractors
  • Dilators
  • Graspers
  • Auxiliary Instruments
  • Cutter Instruments
  • Others
• Electrosurgical Devices

Surgical Equipment, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Reusable
• Disposable

Surgical Equipment, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Neurosurgery
• Plastic & Reconstructive Surgery
• Wound Closure
• Obstetrics & Gynecology
• Cardiovascular
• Orthopedic
• Radiology and Urology
• Others

Surgical Equipment, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Surgical Equipment Market Report Scope