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HEALTHCARE & PHARMACEUTICAL

Surgical Kits Market Analysis by Type (Disposable Surgical Kits, and Reusable Surgical Kits); and by Procedure (General Surgery, Cardiac Surgery, Orthopaedic Surgery, Urology, Ophthalmology, Neurosurgery, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2021-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • March 30, 2022: Medline Industries, LPworked together with the UH ERAS Team and the surgical leads for the 11 UH service lines with dedicated ERAS protocols to develop direct-to-patient kits that were tailored for particular procedures and provided information and supplies to assist with the full continuum of a patient's surgical experience, from pre-surgery through recovery.

  • December 20, 2021: Safe Orthopaedic, a company specializing in the design, production, and marketing of single-use technologies for spinal surgeries, delivering the safest treatment for spinal fractures urgently treated, announces the conclusion of the first 3-month evaluation of the initial surgical cases by the group of surgeon evaluators.

Global Surgical Kits Market Size, Forecast, and Trend Highlights Over 2021 - 2031

Base Year

2021

Forecast Year

2022-2031

CAGR

7.1%

Base Year Market Size (2021)

USD 16345.5 Million

Forecast Year Market Size (2031)

USD 32226.7 Million

The global surgical kits market is estimated to garner a revenue of USD 32,226.7 Million by the end of 2031 by growing at a CAGR of 7.1% over the forecast period, i.e., 2022 - 2031. Further, the market generated a revenue of USD 16,345.5 Million in the year 2021. The growth can be attributed to rising demand for minimally invasive surgeries.According to the NCBI, the most crucial factors that patients cited when selecting between open and MIS surgery were long-term outcomes, the surgeon's advice, and the likelihood of complications. In terms of postoperative discomfort, complication risk, recovery time, expense, and the need for anaesthesia, patients also believed that MIS surgery had advantages over open surgery. Most patients appear to favour minimally invasive methods of treatment.

Surgical-Kits-Market-Analysis-overview

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Minimally invasive procedures are those that require only a few stitches and minor incisions (cuts). One or more tiny incisions may be created on the body during the minimally invasive surgery. Less pain, less bodily scars, and a shorter hospital stay are the benefits of this kind of surgery. Further growing geriatric population is also expected to boost the demand for more surgeries resulting into growth of the market.It is estimated that each year in the 75 and older age group, one-fifth of patients would need surgery by 2030.

Global Surgical Kits Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Number of Cataract Surgeries

Cataract is a leading cause of blindness and it can develop at any age. Numerous factors linked to cataract development includes diabetes, hypertension, obesity, smoking, and more. Hence these factors are expected to boost the demand for cataract surgery, fuelling the growth of the market. Age could be another factor responsible for cataract development. Every year, about approximately 25% million cataract surgeries are carried out globally and about 3 million of those in the United States. Worldwide, approximately 59,000 cataract surgeries are carried out each day.

  • Growing Number of Geriatric Population

The number of persons in the globe who are 60 years or older is expected to double by 2050.

  • Rising Demand for Plastic Surgery

According to the survey, approximately 10% of the women claimed they are more interested in cosmetic plastic surgery or non-surgical procedures now than they were before COVID-19. This percentage is much greater among women who have already undergone surgery or a procedure.

  • Surge in Company Acquisition Program to Improve Global Footprint

For instance, Hill-Rom Holdings announced in 2019 that it intends to sell some surgical tools to Audax for a price that is expected to be around USD 170 million. This would also enable Audax to boost its resources throughout its product line.

  • Robust Demand for Surgical Kits in Emerging Nations

Medical Micro Instruments SpA has announced the official launch of its new plant in Pisa, Italy. In order to facilitate company growth, MMI combined locations throughout the Pisa region into a single, 3,000m-squared property. The cutting-edge facility, which includes development, manufacturing, and administration, would work as the world's "Center of Excellence" for microsurgical surgical robots.

Challenges

  • Contamination Issues
  • Improper Sterilization of Surgical Kits
  • Growing Environmental Issues

The contamination of bacteria owing to the improper dispose of surgical kits is the prominent reason expected to hinder the growth of the market. This contamination of bacteria could lead to various contaminating disease in the patients. They have capability of spreading numerous problematic disease including HIV/AIDS and more.

The global surgical kits market is segmented and analysed for demand and supply by procedure into general surgery, cardiac surgery, orthopaedic surgery, urology, ophthalmology, neurosurgery, and others. Amongst these segments, the general surgery segment is anticipated to garner the second-highest revenue of USD 4,318.4 Million by the end of 2031. Moreover, in the year 2021, the general surgery segment garnered a revenue of USD 2,321.1 Million. The abdominal cavity and its contents, including the oesophagus, stomach, small and large intestines, liver, pancreas, gallbladder, appendix, bile ducts, and frequently the thyroid gland, are the focus of general surgery. Hence the rise in chronic ailments and thyroid which usually affect the contents in abdominal cavity is expected to drive the market growth.According to America Thyroid Association,20 million Americans are estimated to suffer from thyroid illness. Additionally, the orthopaedic surgery segment is expected to grow at a highest CAGR of 8.0% over the forecast period.

Global Surgical Kits Market Regional Synopsis

Regionally, the global surgical kits market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these regions, the market in Asia Pacific is projected to hold the largest market share of USD 10,409.2 Million by the end of 2031, growing at the highest CAGR of 7.7% over the forecast period. Additionally, in the year 2021 the market in this region generated a revenue of USD 4,969.0 Million. The growth can be attributed to increasing spending and growing government support in this region. Moreover, implementation of business strategies by various prominent players is expected to boost the market growth. Pristyn Care increased the number of its surgical centres in February 2022 and reached one million patient encounters. Pristyn Care surgical centres are currently operating in all seven metro areas.

The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Market Segmentation

Our in-depth analysis of the global surgical kits market includes the following segments:

By Type

  • Disposable Surgical Kits
  • Reusable Surgical Kits

By Procedure

  • General Surgery
  • Cardiac Surgery
  • Orthopaedic Surgery
  • Urology
  • Ophthalmology
  • Neurosurgery
  • Others

Key Companies Dominating the Global Surgical Kits Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global surgical kits market that are included in our report are Cardinal Health, Paul Hartmann AG, World Precision Instruments, Medline Industries, LP, Rocialle Healthcare Ltd., Safe Orthopaedics, 3M, and Stradis Healthcare.

FREQUENTLY ASKED QUESTIONS

  1. Market Definition and Research Methodology
    1. Market Definition and Segmentation
    2. Assumptions and Acronyms
    3. Research Objective
    4. Research Methodology
  2. Executive Summary – Global Surgical Kits Market
  3. Market Dynamics
    1. Market Drivers
    2. Market Challenges
    3. Market Trends
    4. Market Opportunities
  4. Analysis of Surgical Scalpel in Surgical Kit
  5. Pricing of Surgical Blades
  6. Analysis of Surgical Products in Surgical Kits vs Off the Shelf
  7. Competitive Structure
    1. Market Share Analysis, 2021
    2. Competitive Benchmarking
    3. Competitive Positioning
    4. Company Profiles
      1. Cardinal Health
      2. Paul Hartmann AG
      3. World Precision Instruments
      4. Medline Industries, LP
      5. Rocialle Healthcare Ltd.
      6. Safe Orthopaedics
      7. 3M
      8. Stradis Healthcare
  8. Global Surgical Kits Market 2021-2031
    1. By Value (USD Million)
    2. By Volume (Thousand Units)
    3. Surgical Kits Market Segmentation Analysis 2021-2031
      1. By Type
        1. Disposable Surgical Kits, 2021-2031F (USD Million), (Thousand Units)
        2. Reusable Surgical Kits, 2021-2031F (USD million), (Thousand Units)
      2. By Procedure
        1. General Surgery, 2021-2031F (USD Million), (Thousand Units)
        2. Cardiac Surgery, 2021-2031F (USD Million), (Thousand Units)
        3. Orthopaedic Surgery, 2021-2031F (USD Million), (Thousand Units)
        4. Urology, 2021-2031F (USD Million), (Thousand Units)
        5. Ophthalmology, 2021-2031F (USD Million), (Thousand Units)
        6. Neurosurgery, 2021-2031F (USD Million), (Thousand Units)
        7. Others, 2021-2031F (USD Million), (Thousand Units)
      3. By Region
        1. North America, 2021-2031F (USD Million), (Thousand Units)
        2. Europe, 2021-2031F (USD Million), (Thousand Units)
        3. Asia Pacific, 2021-2031F (USD Million), (Thousand Units)
        4. Latin America, 2021-2031F (USD Million), (Thousand Units)
        5. Middle East and Africa, 2021-2031F (USD Million), (Thousand Units)
  9. Virginia Surgical Kits Market, 2021-2031
    1. By Value (USD million)
    2. By Volume (Thousand Units)
    3. Surgical Kits Market Segmentation Analysis 2021-2031
      1. By Type
        1. Disposable Surgical Kits, 2021-2031F (USD Million), (Thousand Units)
        2. Reusable Surgical Kits, 2021-2031F (USD million), (Thousand Units)
      2. By Procedure
        1. General Surgery, 2021-2031F (USD Million), (Thousand Units)
        2. Cardiac Surgery, 2021-2031F (USD Million), (Thousand Units)
        3. Orthopaedic Surgery, 2021-2031F (USD Million), (Thousand Units)
        4. Urology, 2021-2031F (USD Million), (Thousand Units)
        5. Ophthalmology, 2021-2031F (USD Million), (Thousand Units)
        6. Neurosurgery, 2021-2031F (USD Million), (Thousand Units)
        7. Others, 2021-2031F (USD Million), (Thousand Units)

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