Global Disposable Surgical Devices Market size is estimated to reach a market value of around USD 14,274 Million by 2030, rising at a CAGR of more than 7.7% during the forecasting timeframe, according to Ameco Research
The rising prevalence of chronic diseases such as neurodegenerative, orthopedic, cardiovascular, and infectious diseases is responsible for driving the overall healthcare market. Chronic conditions are a global healthcare burden, affecting more than half of the elderly population in the United States and accounting for more than 75% of overall healthcare spending. As a result, an increase in chronic and infectious diseases is predicted to drive up demand for the disposable surgical devices market over the coming years. The rising incidence of chronic diseases such as cardiovascular, neurological, infectious, and respiratory conditions is predicted to drive market growth. The global prevalence of diseases such as diabetes and cancer, as well as other immune conditions, is also a primary factor influencing the increase in surgical procedures.
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Global Disposable Surgical Devices Market Growth Aspects
In recent years, Cancer has become a substantial healthcare financial drain as well as a major cause of mortality worldwide. As per the WHO, this disease is the leading cause of about one in every six deaths. According to the same authority, more than 70% of cancer-related deaths often emerge in middle-class and low-income countries. As a result, there has also been a constant uptick in the population of restorative, preventative, and screening cancer procedures worldwide, creating a significant need for disposable surgical equipment.
Further to that, the rising number of road accidents is likely to boost demand for disposable surgical devices. As per the WHO, approximately 10 million people in the world are wounded or disabled as a result of traffic incidents each and every year, creating the conditions for surgery. Surgical sutures are often used to treat such injuries. As a result, the rising frequency of traffic accidents is likely to boost the consumption of disposable surgical sutures and staplers. In addition, the growing government drives to employ biodegradable medical equipment to minimize hospital-associated illnesses is likely to increase the adoption of single-use gadgets. However, the rising proportion of surgical procedures and accidents and injuries happens will raise the demand for disposable surgical devices.
Rising expending in Healthcare to Encourage the Growth of Market
The emphasis of a huge number of countries on upgrading healthcare systems and facilities would aid in boosting the disposable surgical devices market's development opportunities. The rising prevalence of chronic diseases, as well as pathogens, is pressuring many regions of the world to enhance their healthcare systems. Rising disposable income and government expenditure in developing healthcare infrastructure will enhance the disposable surgical devices industry's potential growth. Additionally, many countries governments are implementing unique programs and regulations to improve medical facilities. As a result of all of these considerations, the disposable surgical devices industry has enormous development potential.
Impact of COVID-19
The emergence of a fresh coronavirus outbreak has increased spending on disposable surgical instruments. The COVID-19 variant is extremely contagious and can spread quickly. To eliminate this transfer, clinics and hospitals have switched from consumable to disposable devices. As a result of each of these causes, the disposable surgical devices market is projected to grow rapidly during the epidemic.
Market Segmentation
The global disposable surgical devices market segmentation by Ameco Research based on product, and application. Based on the product, the market is divided into handheld surgical devices, surgical sutures & staplers, electrosurgical devices. Based on application, the market is categorized into cardiovascular, neurosurgery, wound closure, plastic & reconstructive surgery, obstetrics & gynecology, general surgery, orthopedic, and others.
Global Disposable Surgical Devices Regional Outlook
North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa are the regional classification of the global disposable surgical devices market. North America accounted for the largest market share in 2021. This could be attributed to the rising prevalence of chronic diseases such as cardiac and metabolic diseases, diabetes, cancer, and autoimmune conditions. Furthermore, an increase in the number of medical treatments as a result of disasters, wounds, and trauma cases is one of the key factors propelling the regional surgical instruments market.
Furthermore, Asia Pacific is expected to grow at the quickest rate during the projection period. The presence of a large patient population in the region is expected to contribute to regional market growth. Japan has a large senior population that necessitates increased health attention and care. As a result of these factors, Japan is one of the market's prominent nations.
Major Players
Some of the prominent global disposable surgical devices market companies are B. Braun, Aspen Surgical, Zimmer Biomet, Becton, Ethicon, Inc., Surgical Innovations, Smith & Nephew plc, Alcon, Medtronic plc, Dickinson and Company, and Cooper Surgical, Inc.
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