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Global Office-Based Surgical Product Market – Industry Trends and Forecast to 2031

Healthcare

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Global Office-Based Surgical Product Market – Industry Trends and Forecast to 2031

  • Healthcare
  • Upcoming Report
  • Jan 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Office-Based Surgical Product Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 1,680.00 USD Million
Diagram Market Size (Forecast Year) USD 3,109.56 USD Million
Diagram CAGR %

Major Markets Players

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Global Office-Based Surgical Product Market, By Product (Defibrillators, Ventilation Devices, Vital Sign Monitoring Devices, Crash Carts, Resuscitation Equipment, Anaesthesia Devices, Others), Application (ENT, Ophthalmology, Dermatology, Gynaecology, Others), Modality (Portable, Installed), Distribution Channel (Direct Tenders, Retail Sales, Others) - Industry Trends and Forecast to 2031.

Office-Based Surgical Product Market

Office-Based Surgical Product Market Analysis and Size         

Office-based surgical products encompass medical devices and equipment crafted for utilization in outpatient or ambulatory settings, including medical offices, clinics, and surgical centers. Tailored for procedures that eliminate the need for a hospital stay, these products facilitate healthcare delivery that is both convenient and cost-effective. Unceasing innovation in medical technology is a central force in molding the market for office-based surgical products. Progress in surgical instruments, imaging technologies, and minimally invasive techniques contributes to heightened precision and efficiency in procedures carried out in outpatient settings.

Data Bridge Market Research analyzes that the global office-based surgical product market, which was USD 1,680.00 million in 2022, would reach up to USD 3,109.56 million by 2031 and is expected to undergo a CAGR of 8.00% during the forecast period. “Ophthalmology” dominates the application segment of the office-based surgical product market due to rising ophthalmology procedures. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Product (Defibrillators, Ventilation Devices, Vital Sign Monitoring Devices, Crash Carts, Resuscitation Equipment, Anaesthesia Devices, Others), Application (ENT, Ophthalmology, Dermatology, Gynaecology, Others), Modality (Portable, Installed), Distribution Channel (Direct Tenders, Retail Sales, Others)

Countries Covered

U.S., Canada, Mexico, Germany, France, Spain, Turkey, U.K., Netherlands, Russia, Switzerland, Belgium, Hungary, Italy, Rest of Europe, China, India, Japan, Australia, South Korea, Malaysia, Singapore, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Egypt, Saudi Arabia, U.A.E., Israel, Rest of Middle East and Africa

Market Players Covered

Johnson & Johnson (U.S.), Medtronic (U.S.), Stryker Corporation (U.S.), Intuitive Surgical (U.S.), Boston Scientific Corporation (U.S.), KARL STORZ SE & Co. KG (Germany), Olympus Corporation (Japan), Smith & Nephew (U.K.), Zimmer Biomet (U.S.), Cook Group Incorporated (U.S.), Hologic, Inc. (U.S.), Terumo Corporation (Japan), BD (U.S.), KLS Martin Group (Germany), Arthrex, Inc. (U.S.), Merit Medical Systems, Inc. (U.S.)

Market Opportunities

  • Cost-efficiency initiatives
  • Training and educational services

Market Definition

Office-based surgical products refer to medical devices and equipment designed for use in outpatient or ambulatory settings, such as medical offices, clinics, or surgical centers. These products are specifically tailored for procedures that do not require a hospital stay, allowing for more convenient and cost-effective healthcare delivery. Examples include minimally invasive surgical instruments, diagnostic tools, and specialized equipment for various medical specialties, enabling healthcare professionals to perform a range of surgical interventions in a less formalized setting than a traditional hospital operating room. Office-based surgical products contribute to the trend of shifting certain medical procedures from hospitals to outpatient facilities.

Global Office-Based Surgical Product Market Dynamics

Drivers

  • Technological advancements in surgical instruments

Continuous innovation in medical technology plays a pivotal role in shaping the office-based surgical products market. Advances in surgical instruments, imaging technologies, and minimally invasive techniques enhance the precision and efficiency of procedures conducted in outpatient settings. Technologies such as robotic-assisted surgery and sophisticated diagnostic tools not only improve patient outcomes but also contribute to the appeal of office-based surgeries by offering less invasive alternatives to traditional procedures, ultimately fostering growth in this market.

  • Rise of ambulatory surgery centers (ASCs)

The emergence and proliferation of ambulatory surgery centers (ASCs) are pivotal drivers of the office-based surgical products market. ASCs are specialized facilities dedicated to providing outpatient surgical care, offering a more convenient and focused environment for various medical procedures. These centers cater to the increasing demand for efficient, cost-effective, and specialized surgical services outside traditional hospital settings. The rise of ASCs aligns with a broader trend in healthcare toward value-based care and patient-centric models, emphasizing positive outcomes and streamlined experiences. As ASCs become integral to the healthcare landscape, the demand for office-based surgical products is propelled by the specific needs and capabilities of these outpatient surgical facilities.

Opportunities

  • Cost-efficient initiatives

The emphasis on cost-effective healthcare solutions in outpatient settings creates opportunities for companies to develop products that contribute to overall cost savings. Manufacturers focusing on producing high-quality, yet economically viable, office-based surgical products can gain a competitive edge in the market.

  • Training and education services

As the demand for office-based surgical procedures grows, there is an opportunity to provide training and education services to healthcare professionals. Companies can offer specialized training programs, workshops, and educational materials to ensure that healthcare providers are proficient in using the latest office-based surgical products and technologies.

Restraints/Challenges

  • Limited infrastructure

In some areas, the availability of suitable infrastructure for office-based surgical procedures may be limited. This includes challenges related to the availability of advanced medical facilities, trained personnel, and technology necessary for performing certain surgical interventions in outpatient settings.

  • Patient safety concerns

Ensuring patient safety in office-based surgical settings is crucial. Challenges may arise in maintaining the same level of safety and infection control as in traditional hospital settings. Addressing these concerns is essential to gaining and maintaining the trust of patients and healthcare professionals.

This office-based surgical product market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the office-based surgical product market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Office-Based Surgical Product Market Scope

The office-based surgical product market is segmented on the basis of product, application, modality, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

  • Defibrillators
  • Ventilation Devices
  • Vital Sign Monitoring Devices
  • Crash Carts
  • Resuscitation Equipment
  • Anesthesia Devices
  • Others

Application

  • ENT
  • Ophthalmology
  • Dermatology
  • Gynecology
  • Others

Modality

  • Portable
  • Installed

Distribution Channel

  • Direct Tenders
  • Retail Sales
  • Others

Global Office-Based Surgical Product Market Regional Analysis/Insights

The office-based surgical product market is analyzed and market size insights and trends are provided by country, product, application, modality, and distribution channel as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and rest of Middle East and Africa.

North America is expected to dominate with highest market share and show fastest growth rate in the forecast period due to advanced healthcare infrastructure, high healthcare spending.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Office-Based Surgical Product Market Share Analysis

The office-based surgical product market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to office-based surgical product market.

Some of the major players operating in the office-based surgical product market are:

  • Johnson & Johnson (U.S.)
  • Medtronic (U.S.)
  • Stryker Corporation (U.S.)
  • Intuitive Surgical (U.S.)
  • Boston Scientific Corporation (U.S.)
  • KARL STORZ SE & Co. KG (Germany)
  • Olympus Corporation (Japan)
  • Smith & Nephew (U.K.)
  • Zimmer Biomet (U.S.)
  • Cook Group Incorporated (U.S.)
  • Hologic, Inc. (U.S.)
  • Terumo Corporation (Japan)
  • BD (U.S.)
  • KLS Martin Group (Germany)
  • Arthrex, Inc. (U.S.)
  • Merit Medical Systems, Inc. (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The Office-Based Surgical Product Market will be worth USD 3,109.56 million by 2031 during the forecast period.
The Office-Based Surgical Product Market growth rate is 8.00% during the forecast period.
The Technological advancements in surgical instruments and Rise of ambulatory surgery centers (ASCs) are the growth drivers of the Office-Based Surgical Product Market.
The product, application, modality, and distribution channel are the factors on which the Office-Based Surgical Product Market research is based.
The major companies in the Office-Based Surgical Product Market are Johnson & Johnson (U.S.), Medtronic (U.S.), Stryker Corporation (U.S.), Intuitive Surgical (U.S.), Boston Scientific Corporation (U.S.), KARL STORZ SE & Co. KG (Germany), Olympus Corporation (Japan), Smith & Nephew (U.K.), Zimmer Biomet (U.S.), Cook Group Incorporated (U.S.), Hologic, Inc. (U.S.), Terumo Corporation (Japan), BD (U.S.), KLS Martin Group (Germany), Arthrex, Inc. (U.S.), Merit Medical Systems, Inc. (U.S.).
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