Market Size of Surgical Kits Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 8.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Surgical Kits Market Analysis
The surgical kits market is expected to register a CAGR of 8.3% over the forecast period. The abrupt start of the pandemic forced many surgeries to be postponed, which temporarily had a detrimental effect on the market due to COVID-19. As per the report published by JAMA Network in December 2021, in the United States, the overall rate of surgical procedures fell by 48.0% during the first shutdown of elective surgeries. This decline in surgical procedures led to decreased demand for surgical kits as well. Thus, the decline in surgical procedures during the COVID-19 pandemic is anticipated to have a detrimental effect on the market's expansion. However, during the post-pandemic period, the postponed surgeries resumed, which is expected to boost the market's growth in the coming future.
- The surgical kits market is expected to witness robust growth due to the rising number of surgical procedures worldwide and the increasing demand for minimally invasive surgeries across the world.
- According to the updated report published by CDC in 2022, 18.2 million adults in the United States had coronary artery disease, and about 70% of these patients underwent surgery. Hence, the procedures performed have increased hospital admissions, which significantly helps in the growth of the market. Similarly, as per the OECD statistics for 2022, the number of hip replacement procedures in Denmark in 2021 was 13,815, and cesarean section procedures were approximately 12,465.
- Furthermore, according to a CDC report published in August 2021, every year, approximately 800,000 patients are admitted to hospitals with fall-related injuries, the most common of which is a hip fracture. Hence, surgical methods are to be followed to fix the above-stated health concerns. This leads to an increase in hospital admissions for surgeries and drives the growth of the surgical kits market.
- However, the high cost of surgical procedures and unfavorable regulatory scenarios are expected to hamper the growth of the surgical kits market.
Surgical Kits Industry Segmentation
As per the scope of the report, the surgical kit contains the instruments necessary for minor surgical procedures. Surgical instruments are tools or devices for performing specific actions or carrying out desired effects during a surgery or operation, such as modifying biological tissue or providing access for viewing it. The surgical kits market is segmented by product (surgical sutures and staplers, handheld surgical devices, and electrosurgical devices), type (disposable surgical equipment and reusable surgical equipment), application (plastic and reconstructive surgeries, neurosurgery, urology, obstetrics and gynecology, thoracic surgery, orthopedic, cardiovascular surgery, and other applications), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Product | ||||||||
| Surgical Sutures and Staplers | ||||||||
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| Electrosurgical Devices |
| By Type | |
| Disposable Surgical Equipment | |
| Reusable Surgical Equipment |
| By Application | |
| Plastic and Reconstructive Surgeries | |
| Neurosurgery | |
| Urology | |
| Obstetrics and Gynecology | |
| Thoracic Surgery | |
| Orthopedic | |
| Cardiovascular Surgery | |
| Other Applications |
| Geography | ||||||||
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Surgical Kits Market Size Summary
The surgical kits market is poised for significant growth, driven by an increasing number of surgical procedures and a rising demand for minimally invasive surgeries globally. The market experienced a temporary setback during the COVID-19 pandemic due to the postponement of elective surgeries, which reduced the demand for surgical kits. However, the resumption of these surgeries in the post-pandemic period is expected to propel market growth. The shift towards disposable surgical equipment, favored for its cost-effectiveness and reduced risk of hospital-acquired infections, is also contributing to the market's expansion. This trend is supported by healthcare professionals' preference for single-use instruments to mitigate the hazards associated with reusable ones.
In North America, particularly the United States, the surgical kits market is thriving due to continuous technological advancements and a growing elderly population. The region's favorable regulatory environment and high per capita income further bolster market growth. The increasing number of surgical procedures, including facial plastic surgeries, is a key driver of demand for surgical kits. The market is competitive, with major players like B. Braun SE, Boston Scientific Corporation, and Medtronic leading the charge. Recent strategic partnerships and acquisitions, such as Rayner's collaboration with HASA OPTIX and Carl Zeiss Meditec's acquisition of surgical instrument manufacturers, highlight the dynamic nature of the market and the ongoing efforts to enhance product offerings and market presence.
Surgical Kits Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Number of Surgical Procedures Worldwide
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1.2.2 Rising Demand for Minimally Invasive Surgeries
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1.2.3 Rise in the Awareness About Hospital-Acquired Infection
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1.3 Market Restraints
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1.3.1 High Cost of Surgical Procedures
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1.3.2 Unfavorable Regulatory Scenario
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Surgical Sutures and Staplers
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2.1.2 Handheld Surgical Devices
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2.1.2.1 Forceps and Spatulas
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2.1.2.2 Retractors
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2.1.2.3 Dilators
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2.1.2.4 Graspers
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2.1.2.5 Auxiliary Instruments
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2.1.2.6 Other Handheld Surgical Devices
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2.1.3 Electrosurgical Devices
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2.2 By Type
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2.2.1 Disposable Surgical Equipment
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2.2.2 Reusable Surgical Equipment
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2.3 By Application
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2.3.1 Plastic and Reconstructive Surgeries
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2.3.2 Neurosurgery
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2.3.3 Urology
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2.3.4 Obstetrics and Gynecology
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2.3.5 Thoracic Surgery
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2.3.6 Orthopedic
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2.3.7 Cardiovascular Surgery
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2.3.8 Other Applications
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Surgical Kits Market Size FAQs
What is the current Surgical Kits Market size?
The Surgical Kits Market is projected to register a CAGR of 8.30% during the forecast period (2024-2029)
Who are the key players in Surgical Kits Market?
Boston Scientific Corporation, Zimmer Biomet, Medtronic, Johnson & Johnson Services, Inc and B. Braun SE are the major companies operating in the Surgical Kits Market.
