The surgical kits market is expected to witness robust growth due to the rising prevalence of chronic diseases, and an increasing number of minimally invasive surgeries across the world. According to the American Society of Plastic Surgeons, nearly 1.8 million surgical cosmetic procedures and about 15.5 million minimally invasive surgeries were performed in the United States, in 2018. Hence, the procedures performed have increased hospital admissions, which significantly help in the growth of the market, globally. Also, there is a rise in the number of surgeries in various regions, such as Europe, Asia-Pacific, etc. The most significant increases were seen in the oldest age groups, which further increases the patient population and leads to an increase in hospital admissions and the growth of the market studied.
The other driving factors also include rising demand for minimally invasive surgeries, the rise in awareness regarding hospital-acquired infection, and the rise in the global geriatric population associated with the increase in the number of surgeries.
Key Market Trends
Disposable Surgical Equipments are Expected to Witness Highest CAGR in the Near Future
Currently, healthcare professionals are switching from reusable instruments to disposables, to avoid the hazards of improper cleaning and reprocessing of the surgical kits, which pose a threat to the patients.
Moreover, disposable kits are cost-effective compared to the reusable ones, which are beneficial for both healthcare professionals, as well as patients. Currently, hospitals around the world are adopting the disposable surgical instruments. The demand for these instruments is increasing, which may provide a growth opportunity for the surgical kits market in the future.
North America Dominates the Surgical Kits Market
The United States emerged as the key domestic market for surgical kits in North America, on account of the continuous technological developments and the rising uptake of minimally invasive surgeries. The growth in North America was primarily driven by the adoption of new technologies, the growing aging population, favorable regulatory framework, and high per capita income.
The market for surgical kits is highly competitive, with an active presence of the local players. However, a few major players are providing products across all regions, worldwide. Due to the low prices of surgical kits, some new companies are also penetrating the market and are expected to hold a substantial share in the future.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support