The main objective of this report is to define, describe, and forecast the global “Surgical Equipment” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to report the global surgical equipment market is expected to grow at a CAGR of 6.5% over the forecast period of 2017 – 2023.
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Global Surgical Equipment Market: North America has amassed the growth in Surgical Equipment Market
The global Surgical Equipment market has been dominated by the North America region over the historic period 2015-16 followed by Europe.
Presence of advanced healthcare infrastructure coupled with skilled surgeons and increasing healthcare expenditure across the region is the prime factor responsible for the growth of Surgical Equipment market in this region.
Growing technological advancements, increasing demand for surgical tools and rising minimally invasive surgeries are anticipated to boost the market for Surgical Equipment.
New Product Development to boost the growth in Surgical Equipment Market
New product development is one of the recent trends in the global Surgical Equipment market. Moreover, this trend is further anticipated to drive the global Surgical Equipment market over the forecast period.
New product development such as electrosurgical instruments coupled with advanced technologies is responsible for increase in demand and rising trend towards minimally invasive surgeries.
Growing prevalence of cardiovascular diseases
Growing prevalence of cardiovascular diseases is the key factor responsible for the growth of global Surgical Equipment market.
Moreover, the growth in prevalence of cardiovascular disease is responsible owing to factors such as presence of obesity, smoking, hypertension, heart disorders and diabetes.
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Leading vendors in the market are concentrating on geographical expansions and new product development to gain a competitive edge among the rivals which is anticipated to bring more opportunities and chances of growth.
The leading companies identified in the market as Johnson and Johnson Pvt. Ltd., KLS Martin (KLS) Group, B. Braun Melsungen AG, Boston Scientific Corporation, Conmed Corporation, Alcon Laboratories Inc., Stryker Corporation, Smith & Nephew PLC, Zimmer Biomet Holdings, Inc., and Medtronic PLC.