Growing chronic disease prevalence will boost the disposable surgical devices market, forecast to reach US$ 8.5 Bn by 2025 with a CAGR of 8%
Noida, Uttar Pradesh, India, March 15 2021 (Wiredrelease) Report Ocean Pvt Ltd –:The growing chronic diseases prevalence, such as cardiovascular, neurological, urological, and infectious disorders, is expected to drive the overall market. Chronic diseases are a global healthcare concern, with over half of the adult population in the US suffering from them, resulting in over 75% of the total healthcare expenditure. Thus, a rise in infectious and chronic diseases is expected to create a significant demand for disposable surgical devices. Such factors lead to growing the Global Disposable Surgical Devices Market at a CAGR of around 8% throughout the forecast period 2020-2025.
Cancer has become a significant healthcare burden and a leading cause of death across the globe. According to the WHO, almost 1 in 6 deaths can be attributed to this disease. Estimates from the same source indicate that over 70% of cancer-related deaths typically occur in middle- and low-income countries. Thus, a steady rise in the number of curative, preventive, and diagnostic cancer surgeries has been observed globally, creating a high demand for disposable surgical equipment.
The growing number of road accidents is expected to augment the demand for disposable surgical instruments. According to the WHO, around 10 million people are injured or disabled due to road accidents every year, creating a demand for surgeries. Such wounds are commonly managed using surgical sutures. Hence, the increasing number of road accidents is expected to impact disposable surgical sutures and staplers positively.
The increasing government initiatives for the usage of disposable medical devices to avoid hospital-associated infections are expected to boost single-use devices. The growing number of surgical procedures is expected to increase the need for disposable surgical devices.
North America dominates globally with the highest market share in 2020
North America leads the global market with the highest share throughout the forecast period. The regional growth is primarily influenced by the numerous growing incidence of chronic diseases, such as neurological and cardiovascular diseases, diabetes, cancer, and autoimmune diseases. In addition, the rise in the number of surgical procedures due to burns, accidents, and trauma cases is also the key factor driving the disposable surgical instruments market in the region.
The Asia Pacific is anticipated to grow at the fastest rate in the global disposable surgical devices market over the forecast period. The presence of a large patient base in China and India is expected to contribute to the regional market growth. Besides, Japan has a large senior population, which requires increased care and attention in terms of health. Such factors will increase the development of the region in the future.
Segmentation Overview of the Global Disposable Surgical Devices Market
The disposable surgical devices market is segmented based on Type and Application. These major market segments are further categorized into various sub-segments to study the market in detail.
By Type Outlook (Surgical Sutures & Staplers, Handheld Surgical Devices, Electrosurgical Devices)
By Application Outlook (Neurosurgery, Plastic & Reconstructive Surgery, Wound Closure, Obstetrics & Gynecology, Cardiovascular, Orthopedic, General Surgery, Others)
Key Players Insights
Braun Melsungen AG, Aspen Surgical, Smith & Nephew plc, CooperSurgical Inc., Zimmer Biomet, Medtronic, Becton, Dickinson and Company, Ethicon, Alcon Laboratories, Inc., and Surgical Innovations, among others, are some significant players included in the research study of the global disposable surgical devices market. The leading players hold a significant share in the market owing to diversified product offering. These companies are focused to make strategic alliances to expand product portfolio. For instance, Aspen Surgical acquired Protek Medical Products, Inc. in November 2020, with the aim to assist Aspen in strengthening its product portfolio, which also includes disposable surgical devices.
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