Global Surgical Kits Market is expected to grow at a CAGR of 8.91% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Surgical Kits Market by Type (Disposable, Reusable), Procedure (Ophthalmology, Orthopedic, Neurosurgery, Others) End User, Regions, and Global Forecast 2018-2025.
As per the report, the global surgical kits market is expected to grow from USD 19.03 Billion in 2017 to USD 37.68 Billion by 2025, at a CAGR of 8.91% during the forecast period from 2018-2025. North America region emerged as the leader in the global market for the surgical kits with a 38.16% share of market revenue in 2017. Whereas Asia Pacific region is projected to witness an accelerated growth with a CAGR of 11.08% over the forecast period.
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Major players in the global surgical kits market are Kimberly-Clark Corp., Medline Industries Inc., Cardinal Health, Paul Hartmann AG, Hogy Medical, 3M Health Care, Medica Europe BV, OneMed, Stradis Healthcare, Mölnlycke Health Care, B. Braun Melsungen AG, Boston Scientific Corporation,Johnson & Johnson, Novartis International AG, Stryker Corporation, Smith & Nephew PLC and Zimmer Biomet, and among others. There has been a constant demand for the disposable surgical kits for the spinal implant surgeries. Thus ECA Medical Instruments in 2017, announced the launch of Cervical-One. It is single-procedure instrument set for use in one and two-level cervical spine implant procedures.
Type segment is divided into disposable and reusable. As disposable surgical are pre-sterilized, they make the requirement of lengthy sterilization process redundant as well as disposable surgical kits reduce the risk of infections derived from the contaminated surgical instruments, the Disposable type segment emerged as the leader in the global surgical kits market with a 61.58% share of market revenue in 2017. Procedure is segmented into gynecology, urology, ophthalmology, orthopedic surgery, neurosurgery, cardiac surgery, general surgery, and ear, neck and head surgery. Due to rise in number of people undergoing general surgeries the general surgery segment led the global surgical kits market with a 29.71% share of market revenue in 2017. End user segment is categorized into hospitals, specialty clinics, and ambulatory surgical centers. Factors such as surgical kits being increasingly utilized in the hospitals for reducing the incidences of hospital acquired Infections, and improving the post-surgical recovery time, led hospitals segment to emerge as the largest end user segment with a 49.41% share of market revenue in 2017. However increase in number of patient referrals to specialty clinics dedicated to various ailments such as cancer, cardiovascular diseases etc. are projected to propel Specialty clinics segment to grow an accelerated CAGR of 10.83% over the forecast period.
Although the global rise in the geriatric population and increasing in number of people undergoing surgical procedures are the factors that are driving the global surgical kits market. The factors such as high cost of the raw materials, as well as High cost incurred in surgeries and the absence of proper reimbursement structure are the factors that are predicted to be the major restraining factors for the market growth.
About the report:
The global surgical kits market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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