The global Surgical Instrument Market size is expected to reach USD 9.72 Billion in 2028 and register a revenue CAGR of 9.6% over the forecast period, according to a latest report by Reports and Data. Increasing prevalence of chronic diseases and in number of surgical procedures is expected to drive market revenue growth during the forecast period. Increasing demand for handheld surgical devices is also expected to boost revenue growth of the market going ahead. Chronic diseases have a global impact on the health and quality of life of many persons. Additionally, chronic diseases have become a major cause of health expenditures, as well as having an influence on workforce patterns. Chronic diseases are a serious threat worldwide and contributes to both early death and morbidity. In the United States, chronic diseases including heart disease, cancer, and diabetes are the main causes of mortality and disability. These are also major contributors to the country's USD 3.8 trillion in yearly healthcare expenses. Handheld Surgical Instrument are rapidly being used in noninvasive surgeries. The low cost of handheld Surgical Instrument in comparison to robotic devices is a primary factor in increasing use of handheld Surgical Instrument in most surgical procedures. Because of the convenience of use of such devices, surgeons are rapidly adopting handheld surgical instruments. These factors are expected to boost market revenue growth over the forecast period.

However, stringent government regulations for surgical devices approval for marketing and the negative influence of Covid-19 on the surgical devices manufacturing companies are expected to hamper revenue growth of the market during the forecast period.

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Some Key Highlights in the Report

• Reusable surgical device segment is expected to expand at significantly rapid CAGR during the forecast period due to rising demand for reusable surgical devices among healthcare providers. However, reusable devices get soiled and infected with bacteria when used on patients, which is expected to restrain revenue growth of the segment.
• Surgical sutures and staples segment is expected to register considerable revenue growth over the forecast period due to such products being widely utilized in wound healing procedures.
• Orthopedic surgery segment is expected to register significant revenue growth rate in the global surgical devices market between 2021 and 2028, owing to rising number of orthopedic surgical procedures like ACL surgery, knee and hip replacement, and arthroscopy.
• North America surgical devices market is expected to account for largest revenue share in the global market over the forecast period. High presence of major surgical device providers such as Stryker Corporation, Aspen Surgical Products, Inc., Cadence Inc., and Becton, Dickinson and Company in countries in the region is expected to propel revenue growth of the market.

Key players of the market mentioned in the report are 

Smith Nephew plc, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, Medtronic plc, Stryker Corporation, Ethicon, Inc. (Johnson Johnson Medical Devices), Aspen Surgical Products, Inc., CONMED Corporation, Cadence Inc., and Becton, Dickinson and Company.

Device Type Outlook (Revenue, USD Billion; 2018-2028)

• Disposable Surgical Device
• Reusable Surgical Device
• Medical robotics computer-assisted devices

Product Outlook (Revenue, USD Billion; 2018-2028)

• Surgical Sutures and Staples
• Auxiliary Instruments
• Energy-based Powered Instruments
• Others

Application Outlook (Revenue, USD Billion; 2018-2028)

• Orthopedic Surgery
• Laparoscopy
• Neurosurgery
• Wound Closure
• Others

Key Regions Covered in the Report:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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