Global Surgical Devices Market to Be Driven by Increased Applications in Urology and Gynecology Surgery
Posted on 24 Feb 2022
The global surgical devices market is expected to be driven by a rise in the number of surgical procedures, increase in the prevalence of chronic diseases, and rise in the aging population. Further, technological advancements in the field of surgical devices and increase in health care expenditure and government funding for the development of the medical field are expected to boost market growth. Additionally, a rise in demand from patients for minimally invasive surgeries is estimated to propel the growth of the global surgical devices market. However, stringent government regulations and lack of proper reimbursement for surgical devices are likely to hamper market growth.
These are the latest findings of Transparency Market Research (Albany, NY, USA), a next-generation market intelligence provider.
Surgical devices are specifically designed instruments or performing specific actions or carrying out desired effects during a surgery or operation, such as modifying biological tissue or providing access for viewing the affected area. In terms of product, the surgical sutures & staplers segment is propelling the growth of the global surgical devices market due to significant demand for these devices in wound closure and surgical incision sites. The electrosurgical devices segment is expected to be propelled by a rise in the use of electrosurgical devices for the treatment of benign and malignant skin conditions. The medical robotics & computer assisted surgery devices segment is expected to be driven by an increase in research and development of computer assisted devices for surgical procedures.
Based on application, the orthopedic surgery segment is anticipated to be driven by a rise in cases of accidents and diseases. Moreover, the launch of advanced surgical devices used in orthopedic surgery is expected to propel the segment’s growth. The urology and gynecology surgery segment is expected to expand at a rapid pace, due to an increase in the prevalence of urinary inconsistence because of a large geriatric population and rise in complicated pregnancy-related urological disorders. In terms of end-user, the hospitals segment is expected to expand at a rapid pace in the near future due to a rise in the demand for surgical devices from hospitals, which offer favorable proper reimbursement and developed infrastructure.
Geographically, North America and Europe are the leading regions of the global surgical devices market due to their favorable health care infrastructure, high per capita income, and high adoption rate of advanced surgeries. The surgical devices market in Asia Pacific is also expected to expand at a rapid pace due to an increase in awareness and rise in patient affordability of surgeries, which is expected to boost the number of procedures conducted in the emerging countries.
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