Global Surgical and Medical Device Market by Type (Surgical, Medical), By Application (OEMs, Aftermarket) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
The global surgical and medical device market is projected to grow from USD 130.4 billion in 2018 to USD 141.6 billion by 2028, at an annualized growth rate of 1.5%. The North American region dominated the market with a share of 39% in 2018 due to rising demand for orthopedic implants and joint replacements coupled with high health care expenditure per capita as well as favorable reimbursement policy; however, Asia Pacific is expected to witness the highest growth rate during the forecast period owing to rising prevalence of chronic diseases such as diabetes mellitus type 2 and obesity which are leading conditions that need surgery among other factors.
A surgical and medical device can be any object used in the diagnosis, treatment, or prevention of disease. It includes items such as heart-lung machines, respirators, blood transfusion equipment, artificial joint replacements (knees), pacemakers. The list goes on with many examples of devices that are implanted into the human body for various purposes.
The surgical and medical devices are products that help people with illnesses, injury or disabilities to treat their conditions. Surgical and Medical Devices can be in the form of implants, prostheses, orthopedic equipment, or dental supplies like dentures which are used for surgery purposes.
Some examples include pacemakers (Heart Pacing), Intraocular lenses (IOLs) which are surgically implanted into the eye to improve vision after cataract extraction as well as a variety of surgical lasers such as CO laser systems, excimer lasers & YAG laser systems among others. In addition, some other examples include artificial joints and heart valves made from metal alloys or polymers; bone cement; insulin pumps coupled with syringes and needles; dialysis machines, and artificial organs like the heart, lungs, or kidneys.
On the basis of type, the global surgical and medical device market is segmented into surgical and medical devices.
Surgical Devices
Surgical devices are mainly used for the treatment of various diseases or injuries, such as heart valve replacement procedures, coronary artery bypass grafting (CABG), total knee replacements, spinal fusions, etc.
Medical Devices
Medical devices are a diverse group of products that can be broadly classified by their use in diagnostic procedures; therapy: surgery; monitoring system diagnostics; drug delivery systems; endoscopy & anesthesia machines & equipment; ophthalmic instruments; anesthesiology monitors; rehabilitation aids; respiratory equipment so on.
On the basis of the application, the global surgical and medical device market is segmented into OEMs and aftermarket.
OEMs
OEMs are the original equipment manufacturers. OEMs produce medical devices for their own use and also distribute them to hospitals, clinics, and surgical centers as a part of an integrated supply chain management model. These products may include implants, arthroscopy kits, sutures, or other types of instruments.OEMs are used for the manufacturing of devices for commercial use.
Aftermarket
The aftermarket is also a segment with great potential. The after-markets are designed mainly to repair or replace damaged products with new ones. The aftermarket surgical and medical device market is segmented into retail, hospital pharmacies, mail-order pharmacy distribution. Many surgical and medical devices are made for the aftermarket. Devices such as pacers, stents, respirators, catheters, electrocardiographs (ECGs), hearing aids, and contact lenses all have a market in the aftermarket. There is also an active auction site for brand-name preowned equipment where buyers can find deals on medical device equipment.
On the basis of region, the global surgical and medical device market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In 2015 North America held the largest share of over 38% in terms of revenue which is expected to grow at a CAGR of 0.78%, while Europe grew at a CAGR of -0.66%. The major players operating within this regional section include Becton Dickinson (BD), Johnson & Johnson (J&J), and Stryker Corporation among others.
Growth Factors
Increasing incidence of diseases, which leads to higher demand for surgical and medical devices. For example, the number of cancer cases is expected to increase globally from 14 million in 2012 (around 12% of all cancers) to 22 million by 2030 (17%). Increasing demand for minimally invasive surgeries combined with the rising incidence of chronic diseases is the factor that drives this growth. The increasing number of joint replacements due to the aging population coupled with an increase in awareness about its benefits will also fuel the growth of the industry over the forecast period.
Up Market Research published a new report titled “Surgical and Medical Device Market research report which is segmented by Types (Surgical, Medical), By Applications (OEMs, Aftermarket), By Players/Companies Medtronic, Johnson & Johnson Services, CONMED, Becton, Dickinson and Company, 3M, B. Braun Melsungen, Stryker, Boston Scientific Corporation, Erbe Elektromedizin, GE”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Surgical and Medical Device Market Research Report |
By Type | Surgical, Medical |
By Application | OEMs, Aftermarket |
By Companies | Medtronic, Johnson & Johnson Services, CONMED, Becton, Dickinson and Company, 3M, B. Braun Melsungen, Stryker, Boston Scientific Corporation, Erbe Elektromedizin, GE |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 234 |
Number of Tables & Figures | 164 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Surgical and Medical Device Market Report Segments:
The market is segmented by Type Surgical, Medical and By Application OEMs, Aftermarket.
Some of the companies that are profiled in this report are:
- Medtronic
- Johnson & Johnson Services
- CONMED
- Becton
- Dickinson and Company
- 3M
- B. Braun Melsungen
- Stryker
- Boston Scientific Corporation
- Erbe Elektromedizin
- GE
Surgical and Medical Device Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Surgical and Medical Device Market
Overview of the regional outlook of the Surgical and Medical Device Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Surgical and Medical Device Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Surgical and Medical Device Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
- By Type:
1. Surgical
2. Medical
7. By Application:1. OEMs
2. Aftermarket
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Surgical and Medical Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
Reasons to Purchase the Surgical and Medical Device Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Surgical and Medical Device Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Surgical and Medical Device Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Surgical and Medical Device Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Surgical and Medical Device Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Surgical and Medical Device Market Size & Forecast, 2018-2028
4.5.1 Surgical and Medical Device Market Size and Y-o-Y Growth
4.5.2 Surgical and Medical Device Market Absolute $ Opportunity
Chapter 5 Global Surgical and Medical Device Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Surgical and Medical Device Market Size Forecast by Type
5.2.1 Surgical
5.2.2 Medical
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Surgical and Medical Device Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Surgical and Medical Device Market Size Forecast by Applications
6.2.1 OEMs
6.2.2 Aftermarket
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Surgical and Medical Device Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Surgical and Medical Device Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Surgical and Medical Device Analysis and Forecast
9.1 Introduction
9.2 North America Surgical and Medical Device Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Surgical and Medical Device Market Size Forecast by Type
9.6.1 Surgical
9.6.2 Medical
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Surgical and Medical Device Market Size Forecast by Applications
9.10.1 OEMs
9.10.2 Aftermarket
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Surgical and Medical Device Analysis and Forecast
10.1 Introduction
10.2 Europe Surgical and Medical Device Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Surgical and Medical Device Market Size Forecast by Type
10.6.1 Surgical
10.6.2 Medical
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Surgical and Medical Device Market Size Forecast by Applications
10.10.1 OEMs
10.10.2 Aftermarket
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Surgical and Medical Device Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Surgical and Medical Device Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Surgical and Medical Device Market Size Forecast by Type
11.6.1 Surgical
11.6.2 Medical
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Surgical and Medical Device Market Size Forecast by Applications
11.10.1 OEMs
11.10.2 Aftermarket
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Surgical and Medical Device Analysis and Forecast
12.1 Introduction
12.2 Latin America Surgical and Medical Device Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Surgical and Medical Device Market Size Forecast by Type
12.6.1 Surgical
12.6.2 Medical
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Surgical and Medical Device Market Size Forecast by Applications
12.10.1 OEMs
12.10.2 Aftermarket
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Surgical and Medical Device Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Surgical and Medical Device Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Surgical and Medical Device Market Size Forecast by Type
13.6.1 Surgical
13.6.2 Medical
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Surgical and Medical Device Market Size Forecast by Applications
13.10.1 OEMs
13.10.2 Aftermarket
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Surgical and Medical Device Market: Competitive Dashboard
14.2 Global Surgical and Medical Device Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Medtronic
14.3.2 Johnson & Johnson Services
14.3.3 CONMED
14.3.4 Becton
14.3.5 Dickinson and Company
14.3.6 3M
14.3.7 B. Braun Melsungen
14.3.8 Stryker
14.3.9 Boston Scientific Corporation
14.3.10 Erbe Elektromedizin
14.3.11 GE