Asia Pacific Surgical Equipment Market is Expected to Grow at a CAGR of ~7.8% during the forecast

Pune, India, 2022 /MRFR Press Release/- Market Research Future published a half-cooked research report on Asia Pacific surgical equipment market.

Market Highlights

Asia Pacific Surgical equipment market has been growing at a healthy rate in Asia Pacific region from the past few years. It is estimated that the market would grow at a CAGR of ~ 7.8% over the review period. The major drivers for the market are increasing number of surgeries, increasing prevalence of various diseases, rising outpatient surgeries, and increasing number of healthcare organization. According to the World Bank, in Asia, 4,511 surgeries per 1, 00,000 are performed in 2012 and the number will continuously rise due to increasing prevalence of different diseases. Moreover, increasing healthcare spending and government support have fuelled the market growth. However, high cost of the equipment, and strict regulatory policies may affect the market growth negatively.

Regional Analysis

China dominates the Asia Pacific surgical equipment market owing to the presence of huge geriatric population. India accounts for the second largest market, which is followed by Japan and Australia. Huge population base, rapidly changing economy, increasing prevalence of chronic diseases, increasing healthcare expenditure, and increasing number of companies have encouraged the market growth in India and China. Recent economic data suggests that China and Southeast Asia are poised to join the ranks of the high-growth Asian economies such as Korea and Taiwan. Increasing government initiatives are also responsible for increasing number of healthcare organization, ultimately providing the push for the market growth. Rest of Asia Pacific region owns the least share in the market.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Asia Pacific Surgical Equipment Market Research Report

Segmentation

Asia Pacific surgical equipment market is segmented into product type, application, and end users.

On the basis of product type, the market is segmented into surgical sutures & staplers, handheld instruments, electrosurgical devices, electrosurgical generators, monitoring devices, and others. Surgical sutures & staplers are further segmented into absorbable and non-absorbable sutures. Handheld Instruments are sub-segmented into forceps, sutures, visual scope, and others. Electrosurgical devices are further categorized into electrosurgical instruments (HET bipolar system, electrosurgical pencils, smoke evacuation system and other), and electrosurgical generators.

On the basis of applications, the market is segmented into neurosurgery, wound closure, urology, cardiovascular surgeries, orthopedic surgery, and others.

On the basis of end user, the market is segmented into government hospitals, private hospital and other. 

Key Players

The structure of surgical equipment devices is changing due to acquisition of local manufactures with multinational companies. Boston Scientific’s had acquired SciMed, Microvasive, Schneider and EP Technologies. Baxter acquired Edwards Division, IV Systems, Clintec and Hyland Division. Because of increasing competition in the market, multination companies are using strategy of acquisition, which has increased the profit of the company as well as significantly reduced the competition.

Some of the key players in this market: Integra LifeSciences Corporation (US), Boston Scientific Corporation (US), Smith & Nephew (UK), B. Braun Melsungen AG (Germany), Ethicon US, LLC. (US), Stryker Corporation (US),  COVIDIEN (US), CONMED Corporation (US), MEDICON (US), Synergetics USA, Inc. (US), Erbe Elektromedizin GmbH (Germany), KARL STORZ & Co. (US), and KLS Martin (Germany)