Market Size of China General Surgical Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.10 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China General Surgical Devices Market Analysis
The growing population in China is likely to lead to increasing demand for surgical devices. With the increasing population, there is a growing burden of diseases and innovative medical treatments that account for nearly two-thirds of the rise in spending. Therefore with the increasing prevalence of diseases, the demand for surgical devices is expected to increase.
According to the National Bureau of Statistics of China, 2018, from 2000 to 2018, disposable income per capita in China has increased by around 600 percent for urban and rural households alike. The fast-growing economy has inevitably led to a rapid income increase. Certain investments in the healthcare sector offer attractive long-term financial benefits. Medical care is one such area in which individuals tend to increase spending as incomes grow. Therefore the increasing disposable income in China helps in increasing the market growth.
China General Surgical Devices Industry Segmentation
As per the scope of the report, surgical devices serve a specific purpose during surgery. Typically, surgical devices have generic use, while some specific tools are designed for specific procedures or surgeries.
China General Surgical Devices Market Size Summary
The China general surgical devices market is poised for significant growth, driven by the increasing population and the corresponding rise in disease prevalence. This demographic shift is creating a higher demand for innovative medical treatments and surgical devices. As the population grows, the burden of diseases also increases, necessitating advanced medical interventions. The rapid economic development in China has led to a substantial increase in disposable income, which in turn is fueling higher spending on healthcare. This trend is expected to continue, as individuals are likely to invest more in medical care with rising incomes, thereby propelling the market forward.
The market is characterized by a high degree of fragmentation, with numerous large, medium, and small players contributing to its competitive landscape. Key industry participants include B. Braun Melsungen AG, Boston Scientific Corporation, and Johnson & Johnson, among others. The development of advanced handheld surgical devices, such as robotic instruments for laparoscopic procedures, is enhancing surgical precision and patient safety. Innovations like the PediGuard device, launched by SpineGuard and XingRong Medical, are indicative of the technological advancements driving market expansion. The increasing preference for minimally invasive surgeries is further boosting the demand for these sophisticated surgical devices, reinforcing the market's growth trajectory.
China General Surgical Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Demand for Minimally Invasive Devices
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1.2.2 Growing Cases of Injuries and Accidents
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1.3 Market Restraints
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1.3.1 Improper Reimbursement for Surgical Devices
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product
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2.1.1 Handheld Devices
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2.1.2 Laproscopic Devices
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2.1.3 Electro Surgical Devices
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2.1.4 Wound Closure Devices
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2.1.5 Trocars and Access Devices
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2.1.6 Other Products
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2.2 By Application
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2.2.1 Gynecology and Urology
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2.2.2 Cardiology
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2.2.3 Orthopaedic
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2.2.4 Neurology
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2.2.5 Other Applications
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China General Surgical Devices Market Size FAQs
What is the current China General Surgical Devices Market size?
The China General Surgical Devices Market is projected to register a CAGR of 6.10% during the forecast period (2024-2029)
Who are the key players in China General Surgical Devices Market?
B. Braun Melsungen AG, Boston Scientific Corporation, Johnson & Johnson, Olympus Corporation and Stryker Corporation are the major companies operating in the China General Surgical Devices Market.
