Surgical Devices Market Trends

Surgical Devices Market size was valued at USD 16.96 Billion in 2023 and is poised to grow from USD 18.55 Billion in 2024 to USD 38.07 Billion by 2032, growing at a CAGR of 9.4% during the forecast period (2025-2032).

A diverse blend of firms, including large MNCs and smaller companies, characterize the competitive landscape of the global surgical devices market. Leading medical devices manufacturers like Medtronic, Stryker Corporation, Johnson and Johnson, and Zimmer Biomet Holdings offer a variety of products, have a strong awareness of brand, and an expansive global presence. These companies often offer a wide range of surgical devices, spanning from basic instruments to highly specialized tools and advanced robotic systems. 'Olympus Corporation', 'Zimmer Biomet Holdings Inc.', 'Becton, Dickinson and Company (BD)', 'Johnson & Johnson', 'Stryker Corporation', 'Boston Scientific Corporation', 'Medtronic plc', 'Intuitive Surgical Inc.', 'Ethicon (a subsidiary of Johnson & Johnson)', 'Karl Storz SE & Co. KG', 'Smith & Nephew plc', 'Abbott Laboratories', 'Conmed Corporation', 'Cook Medical Inc.', 'Teleflex Incorporated', 'Terumo Corporation', 'B. Braun Melsungen AG', 'Siemens Healthineers', 'GE Healthcare', 'NuVasive Inc.'

A rise in the global incidence rate of chronic diseases, such as cardiovascular ailments, cancer, and orthopedic issues, has fueled the necessity for surgical therapies, which in turn leads to market growth. Surgical equipment can give efficient diagnosis, therapy, and management of a long list of illnesses, highlighting its importance in the healthcare industry.

Minimally Invasive Procedures: There is room for a widespread expansion in the potential of minimally invasive surgical methods. The benefits of these procedures, including expedited recuperation periods, less postoperative pain, and shortened hospital stays make it appealing in the eyes of medical experts and patients alike. As a result, the surgical tools market which produces the goods that are designed to make minimally invasive procedures easier, is booming.

North America traditionally holds the position of the largest regional market in the global surgical devices industry. The United States, being a major player in the healthcare sector, plays a significant role within this region. The adoption of advanced surgical techniques and technologies, coupled with a well-established healthcare infrastructure, contributes to North America's leadership in the market.