The global surgical instruments market is estimated to increase with a CAGR of 5.78% from a market size of US$53.897 billion in 2019. The global surgical instruments market is projected to surge at a significant growth rate in the forecast period owing to the high prevalence of cardiovascular diseases in the world. These include coronary heart diseases, and rheumatic heart diseases among other cardiac diseases driving the market demand in the forecast period. The growing global geriatric population is further propagating the market demand with the surge in age-associated diseases requiring surgeries for treatment further promoting the improvement in the quality of patient’s life. The growing adoption of minimally invasive surgeries is considered to be one of the major drivers where surgical instruments in various robotic and non-robotic surgeries are fueling the market demand leading to the sales of surgical instruments. The rise in minimally invasive procedures will provide a sustainable opportunity for the market to grow where these surgeries help patients to recover fast with a small incision in comparison to a normal surgery with comparatively faster healing time. After the procedure is over, a patient’s hospital stay is reduced with minimum scars left. The blood loss during surgery is also prevented along with the reduction of post-surgical complications and the patient is free to perform his or her daily routine activities within a few weeks.
Furthermore, with the growing number of road accidents are resulting in the surge of emergency cases, hence, contributing to propelling the growth of the global surgical instruments market in the forecast period.
On the basis of Geography, North America is estimated to hold a significant market share with the highest health expenditure of the United States and state-of-the-art healthcare facilities. On the other hand, the Asia Pacific region is accounted to be among the fastest-growing regions, due to the high prevalence of several chronic diseases in the region which demands surgeries.
The increasing adoption of advanced surgical procedures is driving market growth in the forecast period.
The advanced surgical treatments including the adoption of minimally invasive surgeries are transforming healthcare with the provision of extraordinary care and reduced surgery time providing benefits to a wider population of patients worldwide. In addition, it has also helped patients to live longer and improve their quality of life. Technological advancements help to solve critical health issues allowing physicians to treat their patients in a more efficient manner as compared to the traditional ones. With the onset of minimally invasive surgeries, patients experience fewer scars reducing their recovery time as well.
Several advanced surgical treatments have helped survived major heart attacks. For example, angioplasty is usually performed in the case of the thickening of arterial walls due to the formation of plaque in it. This procedure requires the opening of the stiff arteries using catheters, balloon catheters, and stents. The procedure is known as percutaneous coronary intervention (PCI), balloon angioplasty and coronary artery balloon dilation. Laser Angioplasty, another technique is similar to the above-explained angioplasty. The only difference is that the catheter contains a laser tip that opens up the blocked artery and the pulsating beam of the laser vaporizes the plaque build-up.
Other examples include, artificial heart valve surgery, also known as heart valve replacement surgery helps in the replacement of a faulty heart valve with that of a normal healthy one, thus restoring the function of the heart valves. Atherectomy helps in the cutting-off of the plaques via a catheter having a rotating shaver.
The minimally coronary artery bypass graft surgery makes use of small incisions via chest or leg to treat blocked arteries and restores normal blood supply to the heart. The patient is relieved from the hospital faster as compared to the traditional open-heart surgery operated patient. For a patient suffering from a condition known as supraventricular tachyarrhythmias, also known as rapid heartbeats or arrhythmias. A procedure known as radiofrequency ablation helps in the treatment of these arrhythmias where a catheter with an electrode at its tip is guided to that site of the heart muscle which stimulates an abnormal heart rhythm. Hence, a mild and painless radiofrequency energy transmitting heat destroys the selected heart muscle carefully in a very small area.
To relieve highly sick patients because of severe chest pain known as angina, a procedure known as Trans myocardial Revascularization (TMR) is performed which makes use of a laser beam to enter the pumping chamber through the left side of the chest. However, sometimes this procedure is carried in combination with bypass surgery if needed. Several other procedures involve pacemaker surgery and minimally invasive surgeries for the treatment of congenital heart diseases, which has proven to be a lifesaver for many patients. Post-procedure the patients can lead their lives peacefully with very less or no complications at all. Hence, this is known to have a high impact on the growth of the global surgical instruments market in the forecast period.
Concerns regarding the risks related to device-associated infections are restraining the market growth in the forecast period.
Catheter associated infections are rare but are hard to treat and potentially devastating. Septic complications have been found to be associated with several angioplasty procedures. There have been cases where life-threatening complications have been found after cardiac catheterization alone or subsequent coronary angioplasty procedures. In order to maintain a balance between the functional ability of the implanted device and improved quality of life one needs to be cautious regarding the spreading of infections caused by the implants. Concerns are more critical for patients who have a weak immune system or immunity becomes weak due to medical reasons and have to undergo multiple surgeries due to a large number of complications due to device related infections. Every year patients undergo operations which include implantation of venous catheters, embolism protection devices, left ventricular assist devices and various other permanent or temporary implants. These procedures lead to infections which include surgical-site infections having a low-to-medium impact on hampering the market growth in the forecast period and in the upcoming years.