[Report Description]
The North America General Surgical Devices Market is expected to register a CAGR of 6.1% during the forecast period, owing to the factors such as rising demand for minimally invasive devices, growing cases of injuries and accidents in the North America region.
In North America, the growing burden of diseases chronic diseases along with the rising geriatric population is likely to increase the demand for medical devices. According to the STATCAN, Government of Canada, 2019, the geriatric population has been accounted for 17.5% of the present population and could continue to increase significantly in the near future, reaching 22.7% in 2031. Therefore as the geriatric population is expected to rise in the near future which ultimately increases the use of medical devices for surgical procedures as this group of population is more prone to chronic conditions like cardiovascular diseases that drive the market growth. Thus, the growing burden of diseases is expected to increase the demand for medical devices during the forecast period.
Key Market Trends
Handheld Devices is Expected to Dominate the General Surgical Devices Market Over the Forecast Period
In the North American region with the rising number of surgeries leading to an increase use of handheld surgical devices. The development of advanced devices, like robotic hand-held surgical devices for laparoscopic interventions, enhances a surgeon’s dexterity. Many innovations have been made, due to the need for high reliability, accuracy, and patient safety. Needle holders are very similar in shape to hemostats, featuring jaws, and handles. Needle holders allow the needle to be locked into place for suturing, in a variety of tissue types.
As per the 2019 updates of Healthgrades Operating Company, Inc. it was reported that every year about 500,000 women in the United States have a hysterectomy, about 460,000 U.S. residents have a cholecystectomy and 1.3 million pregnant women seek by C-section in the United States. Therefore the market is growing due to the rise in minimally invasive surgical procedures and an increase in outpatient surgeries that has boosted the demand for these surgical devices. Thus, owing to the above-mentioned factors it is expected to drive market growth.
Competitive Landscape
The North America General Surgical Devices Market is fragmented because of the presence of many large, medium, and small players. Some of the major players of the market are B. Braun Melsungen AG, Boston Scientific Corporation, Conmed Corporation, Medtronic Plc and Johnson & Johnson are among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Minimally Invasive Devices
4.2.2 Growing Cases of Injuries and Accidents
4.3 Market Restraints
4.3.1 Stringent Government Regulations
4.3.2 Improper Reimbursement for Surgical Devices
4.4 Porter s Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Handheld Devices
5.1.2 Laproscopic Devices
5.1.3 Electro Surgical Devices
5.1.4 Wound Closure Devices
5.1.5 Trocars and Access Devices
5.1.6 Other Products
5.2 By Application
5.2.1 Gynecology and Urology
5.2.2 Cardiology
5.2.3 Orthopaedic
5.2.4 Neurology
5.2.5 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Medtronic PLC
6.1.2 B. Braun Melsungen AG
6.1.3 Conmed Corporation
6.1.4 Boston Scientific Corporation
6.1.5 Johnson & Johnson
6.1.6 Olympus Corporations
6.1.7 Stryker Corporation
6.1.8 Integer Holdings Corporation
6.1.9 Cadence Inc.
6.1.10 Maquet Holding BV & Co. KG (Getinge AB)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS