Market Size of North America 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 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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North America General Surgical Devices Market Analysis
The North America General Surgical Devices Market is expected to register a CAGR of 6.1% during the forecast period.
The COVID-19 pandemic adversely affected market growth. The impact was majorly associated with the restrictions on non-emergency surgical procedures during the pandemic. For instance, from the data from PubMed published in October 2021, it was observed that there has been a 42.8% decline in general surgery admission in North American countries such as the United States and Canada. Thus the general surgical devices market has been significantly impacted by COVID-19. However, currently, with the regularization of all the restrictions, the surgical procedure volume has reached pre-pandemic level which is fueling the market growth.
The key factors propelling the market growth in North America include rising demand for minimally invasive surgeries and growing accidents and injuries across the region. As per the American Academy of Orthopedic Surgeons (AAOS) Annual Report 2021, more than 2 million primary and revision hip and knee arthroplasty procedures were performed in the last decade. Primary knee (54.5%) and primary hip (38.6%) procedures made up most of the orthopedic surgeries in the country during the period. In addition, as per the American Joint Replacement Registry (AJRR) 2021, there were around 105,743 hip arthroplasty procedures for femoral neck fractures in the United States. Henceforth, the rising number of orthopedic surgical procedures is anticipated to support the market's growth in the United States.
Additionally, the data updated by Cedars-Sinai in January 2022 shows that coronary artery bypass graft surgery (CABG), also known as coronary artery bypass, or bypass surgery, is the most common heart surgery, and more than 300,000 people have successful bypass surgery in the United States each year. Further, the CDC data published in July 2022 indicated that coronary heart disease is the most common type of heart disease. Approximately 20.1 million adults of age 20 and older have the disease in the United States. As per the CDC data, every 40 seconds, someone suffers from a heart attack, and nearly 805,000 people in the United States have a heart attack every year. Thus, the high burden of cardiovascular diseases is expected to create demand for heart surgeries, further demanding the availability of surgical drills in healthcare settings. Hence, the increasing number of heart surgeries is predicted to fuel the market's growth during the forecast period in the country.
However, stringent government regulations and improper reimbursement for medical devices are some of the factors that are expected to restrain the market growth in the long run.
North America 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. The North America General Surgical Devices Market is Segmented by Product (Handheld Devices, Laparoscopic Devices, Electro Surgical Devices, Wound Closure Devices, Trocars, and Access Devices, and Other Products), Application (Gynecology and Urology, Cardiology, Orthopedic, Neurology, Other Applications) and Geography (United States, Canada, Mexico). The report offers the value (in USD million) for the above segments.
By Product | |
Handheld Devices | |
Laproscopic Devices | |
Electro Surgical Devices | |
Wound Closure Devices | |
Trocars and Access Devices | |
Other Products |
By Application | |
Gynecology and Urology | |
Cardiology | |
Orthopaedic | |
Neurology | |
Other Applications |
Geography | |
United States | |
Canada | |
Mexico |
North America General Surgical Devices Market Size Summary
The North America General Surgical Devices Market is poised for significant growth, driven by the increasing demand for minimally invasive surgeries and the rising incidence of accidents and injuries across the region. The market experienced a setback due to the COVID-19 pandemic, which led to a decline in surgical procedures as non-emergency surgeries were postponed. However, with the lifting of restrictions, surgical volumes have rebounded to pre-pandemic levels, spurring market expansion. The United States, with its advanced healthcare infrastructure and high adoption of novel technologies, is a key contributor to this growth. The prevalence of cardiovascular diseases and orthopedic disorders is fueling the demand for surgical procedures, thereby increasing the need for surgical devices. New product launches, such as robotic-assisted surgical systems, are further propelling the market forward.
Despite the positive growth trajectory, the market faces challenges from stringent government regulations and inadequate reimbursement policies for medical devices. The competitive landscape is marked by the presence of numerous players, including major companies like Medtronic Plc, Johnson & Johnson, and Boston Scientific Corporation, which are actively developing innovative medical devices to meet evolving healthcare needs. Strategic acquisitions and product launches, such as Teleflex's purchase of Standard Bariatrics and Ethicon's introduction of the next-gen Echelon 3000 stapler, highlight the dynamic nature of the market. These developments, coupled with the increasing burden of disorders requiring surgical intervention, are expected to sustain the market's robust growth over the forecast period.
North America 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 Stringent Government Regulations
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1.3.2 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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2.3 Geography
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2.3.1 United States
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2.3.2 Canada
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2.3.3 Mexico
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North America General Surgical Devices Market Size FAQs
What is the current North America General Surgical Devices Market size?
The North America 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 North America General Surgical Devices Market?
Medtronic PLC, B. Braun Melsungen AG, Cadence Inc., Johnson & Johnson and Conmed Corporation are the major companies operating in the North America General Surgical Devices Market.