(M2 PressWIRE Via Acquire Media NewsEdge) According to a new market research report "Global surgical equipment market (types, applications and geography) - Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 - 2020", suggests that the global surgical equipment market is expected to reach $12.1 billion by 2020 registering a CAGR of 11.1% from 2014 to 2020.
Due to the breakthrough achieved by the electro surgical devices in operative procedures by providing highly effective methods of conducting surgeries and the inclusion of robots in curtailing the complexity involved in surgeries will promote the growth of the surgical equipment market. The global market will witness widespread adoption of the technology by 2020 and it would revolutionize the operating procedures within the health care system. Manufacturing companies adopting these technologies would gain substantial market share over the years, as the advanced technologies will drive further innovations leading to manufacturing of effective surgical equipment. The demand for innovative surgeries is further intensified due to rising incidences of chronic diseases around the globe. Minimally invasive surgical procedures are far superior to the conventional methods and they have transformed the traditional invasive methods by introducing powerful methods yet cost effective. Faster recovery, minimal trauma & pain, minimal blood loss, and smaller scars are the merits of the technology.
Surgical equipment manufacturers are shifting focus from established surgical equipment such as sutures, forceps, etc. to emerging electrosurgical equipment such as robotic/computer assisted tools, etc. Surgical sutures and staples are the prevailing trends in the global market for surgical equipments. However, hurdles to growth will be witnessed during 2013-2020 due to emerging minimally invasive surgical equipments. Manufacturing companies dominating the market are introducing instruments, which are far superior that offer precise and accurate results with retention of aesthetic nature of the human body. Governments in different countries are framing their regulatory guidelines to ensure the safety and quality of surgical equipments.
Developed economies have already implemented regulatory guidelines for the production, standardization and use of surgical equipments. Stringent regulations are formed to protect patients from being infected due to repeated use of instruments. On the other hand, gradual implementation of reimbursement policies in the developing economies would further boost the market.
Key surgical equipment manufacturers such as Medtronic, Stryker, Conmed Corporation, Carefusion, Alcon Laboratories Inc., Smith & Nephew, Ethicon Inc., Zimmer and KLS martin have adopted product launch and approval as their key strategic agendas to gain the competitive intelligence. These manufacturers have focused on advanced surgical equipments with ergonomic features.
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