The Asia-Pacific surgical equipment market is fueled by the continuous growth in the number of surgical procedures performed across the region. As healthcare infrastructure expands and access to surgical interventions increases, there is a rising demand for surgical equipment to support various medical procedures, contributing to market expansion. Newer surgical technologies constitute the core of the Asian SURGICAL EQUIPMENT market. It has resulted in surgical equipment innovation that has advanced surgical accuracy, outcomes, and efficiency via robotic-assisted surgery systems, minimally invasive devices, and advanced imaging technologies.
With the surge of investments on healthcare infrastructure in this region, the SURGICAL EQUIPMENT market continues to grow. Asian governments and private organizations are investing large amount of fund into the development and modernization of healthcare facilities therefore making it a viable and conductive environment for the acceptance and integration of the use of advanced surgical technologies.
The overgrowing of chronic diseases in Asia Pacific region boosts the utilization of surgical interventions and advanced equipment. CVDs, cancer, and orthopedic disorders are most of the time treated with surgical procedures driving the demand for appropriate surgical tools and equipment.
Providing Access to Secondary Sources to Empower Writers and Librarians to Make High Decision Making Source From Citations. Supportive policies, reimbursement programs, and also infrastructure development projects promote availability and affordability of surgical equipment, and contribute to the market dynamics.
There are also demographic trends that have to do with the demand for the surgical procedures as well as related medical equipment such as population growth and aging. The growing senior population in Asia Pacific has resulted in a rise need of surgical procedures and accordingly, housing sales, as older people often have to be treated with the help of surgical instruments.
Among the factors driving up the SURGICAL EQUIPMENT market are the economic factors including healthcare expenditures, GDP increase as well as insurance coverage. The purchasing power for healthcare facilities is influenced by economic stability linked to budget allocations towards health care thus also determining acceptance levels of new and innovative surgical techniques.
The current move towards MIS affects the specialized surgical devices market. Minimally Invasive Surgery MIS always remains the preference of both surgeons and patients because of its benefits like rapid recovery and minimal postoperative complications. This trend fuels the need for sophisticated surgical equipment’s and devices that enable minimally invasive surgery.
In healthcare, patient-centered approaches with improved outcomes and experience drive the selection of surgical equipment. Most importantly, instruments that lead to better recovery period, less pain, and improved patient contentment are preferred mode, in turn affecting the market of innovative surgical technologies from this standpoint.
International standards for application of the surgical techniques and use of recognized equipment all over the world gives the globalized features to the APAC market of surgical equipment.
Customs retain the essentiality of regulations guidelines within SURGICAL EQUIPMENT MARKET. The laws are extremely strict, and there are many compliance rules the manufacturers have to keep up with with which to get through the approval process by the market and gain trust among medical professionals.
Intense competition among key players characterizes the SURGICAL EQUIPMENT market in Asia Pacific. Market consolidation through mergers, acquisitions, and strategic alliances is a common strategy employed by companies to enhance market presence, impact product innovation, and maintain competitiveness.
The Asia Pacific Surgical Equipment Market is expected to reach USD 13.4 Billion by 2032 at CAGR 4.5% during the forecast period 2023-2032. Surgical equipment plays a vital role during the surgeries. It is one of the important aspects in the medical as well as medical technology. With the developing surgical procedure, the trade of the instrument is developing. The instrument must have good quality and elaborative ornament to be prefer widely. Surgical equipment are widely used in neurosurgery, wound closure, urology, cardiovascular surgeries, orthopedic surgery, and others. Increasing prevalence of chronic diseases, increasing number of hospitals, increasing geriatric population, and increasing healthcare expenditure boost the market growth. According to the World Health Organization (WHO), 60% of the world’s total diabetic population is living in Asia Pacific region. Additionally, diabetes is one of the major cause for cardiovascular diseases, which in turn, result into increased cardiac surgeries. Moreover, development in technology and increased government initiatives have a fuelled the growth of the market, from the last few years. On the other hand, high cost of the devices, and shortage of skilled labor may slow the growth of the market.
The Asia Pacific surgical equipment market is expected to grow at a CAGR of ~7.8% over forecasted period 2017-2023.
Figure: Asia Pacific surgical equipment by product type, 2016 (%)
Sources: WHO, annual reports, press release, white paper, company presentation
Segmentation Asia Pacific surgical equipment market is 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. The handheld instruments are sub-segmented into forceps, sutures, visual scope, and others. The 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 application, 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.
Research Methodology
Sources: WHO, annual reports, press release, white paper, and company presentation
Regional Analysis Asia Pacific surgical equipment market is segmented into Japan, China, India, Republic of Korea, Australia, and Rest of Asia Pacific. Increasing number of hospitals, rising geriatric population, and increasing healthcare expenditure drives the growth of Asia Pacific surgical equipment market. Moreover, increasing prevalence of chronic diseases, government initiatives, and increasing patient inflow have fuel the market growth. China holds the major share in the Asia Pacific surgical equipment market owing to huge geriatric population and rapidly developing economy. Moreover, India and Australia contributes considerable share to the market.
Key Players 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), Â COVIDIEN (US), CONMED Corporation (US), MEDICON (US), Synergetics USA, Inc. (US), Erbe Elektromedizin GmbH (Germany), KARL STORZ & Co. (US), and KLS Martin (Germany).
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