Surgical Equipment Market Forecasted to Reach USD 7.5 Billion by 2017

According to a new report published by Transparency Market Research (Albany, NY, USA), the global surgical equipment market is expected to grow within the next five years by 44%.

The report, titled Surgical Equipment Market (Surgical Sutures, Surgical Hand Instruments, and Electrosurgical Devices) – Global Forecast, Market Share, Size, Growth, and Industry Analysis (2010-2017), estimates the market to reach USD 7.5 billion by 2017.

The global surgical market, which is divided into three categories: electrosurgical devices, handheld instruments, and surgical suture, was worth USD 5.2 billion in 2011. The report found that the surgical sutures segment, which includes wound-closing products, accounted for the largest share of market revenue in 2011, representing 57.0% of the global surgical equipment market at USD 3 billion. However, the electrosurgical devices segment, which includes lasers and disposables, is expected to have the fastest revenue increase at a compound annual growth rate (CAGR) of 7.5% through 2017.

The study explained the surgical equipment market is driven by the economic growth of both established countries like Japan and Europe, as well as emerging economies such as India and China. Increased healthcare expenditure, improving standards of living, and longer life expectancies are main factors influencing the market’s growth. A rising demand for outpatient surgeries, increased number of healthcare facilities, and surgical innovations are also contributing to the growth of the surgical equipment market.

Transparency Market Research is a market intelligence company that provides global business research reports and consulting services.



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