May 27, 2024
General Surgery Devices Market

The Global General Surgery Devices Market is Gaining Momentum driven by Technological Advancements

The global general surgery devices market is primarily driven by the rapid adoption of minimally invasive surgeries and growing preference for surgical sealants and adhesion barriers. General surgery devices help surgeons perform various procedures including gastric bypass, hernia repair, appendectomy, gallbladder removal, and breast biopsy in a minimally invasive manner with quick recovery and minimal scarring. Devices such as surgical staplers, energy devices, and wound closure products are increasingly being used to reduce hospital stay and recovery time.

The Global General Surgery Devices Market is estimated to be valued at US$ 16.46 BN in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Global General Surgery Devices Market Size are Medtronic Plc, Johnson & Johnson Service; Inc., Conmed Corporation, Integra LifeSciences, Smith & Nephew, Becton, Dickinson and Company (Bd), B. Braun Melsungen Ag, Cadence Inc, Integer Holdings Corporation, Olympus Corporation, Stryker, Boston Scientific Corporation, Erbe Elektromedizin Gmbh and 3M Healthcare. Key players are focusing on new product launches and strategic partnerships for technology advancements and geographic expansion.

The rapid rise in minimally invasive surgeries globally is expected to drive the demand for general surgery devices in the coming years. Devices such as staplers, sealants and advanced energy devices help reduce procedure time and length of hospital stay, supporting faster recovery.

The growing medical tourism industry particularly in Asia Pacific is supporting the expansion of key players in emerging markets. Many players are focusing on partnerships with hospitals and ambulatory surgical centers in high growth regions to tap the increasing demand for affordable healthcare services.

Market key trends

Emerging technologies such as robotic surgery, 3D printing, and advanced energy devices are gaining popularity in general surgeries. Robot-assisted surgeries provide increased control and precision helping reduce post-surgery recovery times. Players are actively investing in R&D to develop innovative surgical robotics platforms. The growing adoption of 3D printing technologies also helps manufacturers customize surgical implants and devices for improved fit and function.

Porter’s Analysis

Threat of new entrants: High capital requirements for R&D and marketing poses barrier for new players.
Bargaining power of buyers: Medical devices industry is highly competitive so low bargaining power for buyers.
Bargaining power of suppliers: Suppliers are fragmented across industries so no threat of suppliers.
Threat of new substitutes: Limited threat as medical devices are specialized with few substitutes.
Competitive rivalry: Strong among industry giants for market share and technological advancements.

Geographical Regions
North America accounts for the largest share in the global general surgery devices market, valued at US$ 6.38 Bn in 2024, due to rising obesity rates and prevalence of chronic diseases. The growing geriatric population undergoing elective surgeries and adoption of minimally invasive surgeries also drive the market in the region.

Asia Pacific region is poised to grow at the fastest CAGR of 9.5% during the forecast period. This is attributed to growing healthcare infrastructure, increasing medical tourism, and government initiatives to promote affordable healthcare in developing countries such as India and China. Rising incidences of injuries and cancer also support market growth in the region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it