Surgical instruments are specialized tools or devices designed for specific tasks during surgical procedures, facilitating tissue manipulation or visualization. They are classified based on their function and the type of surgery. The categories include measuring instruments, suturing or stapling instruments, grasping, holding, and clamping instruments, retracting and exposing instruments, suctioning and aspirating instruments, dilating and probing instruments, and instruments for cutting, incising, or dissecting. These instruments are crucial in ensuring precise and effective surgical interventions across various medical specialties.
According to Data Bridge Market Research, the Open Surgery Instruments Market is accounted at USD 60.24 billion in 2021 and is expected to reach USD 94.00 billion by 2029. The market is expected to grow with a CAGR of 5.72% in the forecast period of 2022 to 2029.
“Increasing number of surgeries drives the market’s growth”
The open surgery instruments market is experiencing growth due to an increasing number of surgeries being performed worldwide. The rise in surgical procedures, including general surgery, orthopedic surgery, cardiovascular surgery, and others, drives the demand for open surgery instruments. These instruments are essential for surgeons to perform precise and effective procedures. Factors such as the growing aging population, advancements in surgical techniques, and the rising prevalence of chronic diseases contribute to expanding the open surgery instruments market.
What restraints the growth of open surgery instruments market?
“Lack of adequate reimbursement policies restraints the market’s growth”
The growth of the open surgery instruments market is hindered by the lack of adequate reimbursement policies. Reimbursement is crucial in determining the affordability and accessibility of surgical procedures and related instruments. In many healthcare systems, the absence of favourable reimbursement policies for open surgery instruments creates financial burdens for patients and healthcare providers. This can result in limited adoption of advanced open surgery instruments and a slower market growth rate. Efforts to establish comprehensive reimbursement policies that support the utilization of open surgery instruments could help overcome this restraint and foster market expansion.
Segmentation: Open Surgery Instruments Market
The open surgery instruments market is segmented on the basis of product, application and end-user.
- On the basis of product, the open surgery instruments market has been segmented into scalpel, scissors, forceps, clamps, needles and suture, retractors, suction, staplers and clips, energy systems, laparoscopic instruments.
- On the basis of application, the open surgery instruments market has been segmented into cardiothoracic surgery, urologic surgery, orthopedic surgery, robot assisted surgery.
- On the basis of end-user, the open surgery instruments market has been segmented into hospitals, ambulatory surgery centers and clinics.
Regional Insights: North America dominates the open surgery instruments market
North America dominates the open surgery instruments market due to the increasing number of surgical centres and the rising adoption of minimally invasive surgeries. These factors drive the demand for open surgery instruments, essential for performing a wide range of surgical procedures in these healthcare facilities.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the increasing awareness among physicians and technicians regarding the advantages offered by modern surgical instruments. This awareness drives the demand for advanced instruments that enable improved surgical outcomes, increased precision, and enhanced patient safety, leading to the market's overall growth.
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Recent Developments
- In April 2022, a new era was introduced at the Nephro-Urology facilities in Bengaluru with the introduction of the Versius Robotic surgical system.
- In April 2021, Dolphin Sutures Company expanded its product line in India by introducing TEFLENE, a type of non-absorbable polytetrafluoroethylene sutures. These sutures, made from a monofilament PTFE strand, offer a valuable addition to the company's range of products.
- In March 2021, Origami Surgical Inc.'s StitchKit robotic platform technology, comprising three innovative devices, has received approval from the FDA. This regulatory milestone highlights the acceptance and endorsement of Origami Surgical's advanced robotic platform for use in surgical procedures.
The Prominent Key Players Operating in the Open Surgery Instruments Market Include:
- Johnson and Johnson Private Limited (U.S.)
- BD (U.S.)
- B. Braun Melsungen AG (Germany)
- Hill-Rom Services Inc. (U.S.)
- Medtronic (Ireland)
- Swann-Morton Ltd. (U.S.)
- Kai Industries Co., Ltd. (Japan)
- Zimmer Biomet (U.S.)
- KLS Martin Group (Germany)
- SteriLance Medical (Suzhou) Inc. (China)
- Huaiyin Medical Instruments Co.,Ltd (China)
- Integra LifeSciences (U.S.)
- Smith+Nephew (U.S.)
- Aspen Surgical (U.S.)
- CooperSurgical Inc. (U.S.)
- Thompson Surgical Instruments Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of open surgery instruments market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Open Surgery Instruments Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
