Europe Surgical Equipment Market Size, Share, Market Research and Industry Forecast Report, 2026 (Includes Business Impact of COVID-19)

  • TBI271378
  • November 28, 2020
  • Global
  • 132 pages
  • Lucintel

Industry Insights, Market Size, CAGR, High-Level Analysis: Europe Surgical Equipment Market

The Europe surgical equipment market size was valued at USD 3.5 billion in 2018 and is expected to exhibit a CAGR of 7.6% during the forecast period. Increase in the number of surgical procedures, growing geriatric population, which is prone to chronic diseases, and rising awareness about treatment options are key factors driving the market. High healthcare expenditure in Eastern and Central European countries is also a major driver. The geriatric population in Europe is expected to increase over the next few years. According to statistics released by the European Commission, old-age dependency ratio is forecasted to increase from 29.6% in 2016 to over 50.0% in 2070. According to the European Chronic Disease Alliance, approximately 23.5% of working Europeans are affected by a chronic disorder that is cardiovascular or orthopedic, dermatological, or urological. The high prevalence of chronic diseases is increasing the overall number of surgeries undertaken. Initiatives undertaken by various organizations for improving the quality of healthcare services for female reproductive organ disorders is yet another driving factor. European Society for Radiotherapy and Oncology (ESTRO), European Society of Gynecological Oncology (ESGO), and European Society of Pathology (ESP) are developing evidence-based & clinically relevant guidelines for improving healthcare for females with cervical cancer in Europe. These initiatives, along with the growing number of surgeries undertaken for female reproductive organ disorders, are expected to drive the market over the coming years. In addition, technological advancements in surgery are also aiding growth. Increasingly efficient human-operated surgical robots are being used to perform surgeries that require high precision. The introduction of robotics and other electrosurgical technologies are, thus, collectively driving the market. Integration of virtual reality in surgeries is yet another key driver.

Product Insights of Europe Surgical Equipment Market

By product type, the Europe surgical devices market is divided into surgical sutures & staplers, handheld devices, and electrosurgical devices. Surgical sutures & staplers segment held the largest share in 2018 and is expected to maintain its lead over the forecast period. These equipments are used for closing surgical incisions and are anticipated to witness steady growth in demand over the forecast period. Quick placement, low risk of infections, efficient wound closure, and minimal tissue reaction are the key benefits offered by staples, driving the demand for such tools in surgical interventions. Electrosurgical devices segment is growing at the fastest rate, owing to vast number of benefits they can offer. Electrosurgical equipments can reduce the overall hospital stay of patients and are also an ideal choice for treatment in ambulatory care. Electrosurgical techniques help surgeons make precise incisions with low blood loss, thereby promoting wider usability of these devices in hospitals and operating rooms. Electrosurgery can help reduce blood loss through immediate and precise cauterization of tissue, using an electric current. Medtronics Valleylab REM system and electrosurgical generators & monitors have been successfully used for over 100 million surgical procedures globally. The demand for such tools and techniques are showing a surge in demand across multiple regions and hospital settings.

Application Insights of Europe Surgical Equipment Market

By application, the Europe surgical instruments market is divided into neurosurgery, plastic & reconstructive surgery, wound closure, obstetrics & gynecology, cardiovascular, orthopedic, and others. Obstetrics & gynecology segment is expected to lead the market, owing to an increase in number of female reproductive organ disorders and increase in surgeries that require cervical cerclage or cervical stitches. According to the U.S. National Library of Medicine National Institutes of Health, every European surgeon performs approximately 202 procedures per year. These surgeries comprise cesarean, normal, and pediatric surgeries. The increase in prevalence of disorders in children is expected to drive the market in Europe. In addition, increase in number of minimally invasive gynecology operations-that result in less postoperative pain and a shorter hospital stay-is further augmenting growth in the region. These surgeries demand the use of surgical devices and equipments such as hysteroscope & laparoscope. According to the data published by the International Society of Aesthetic Plastic Surgery, the highest amount of aesthetic & plastic surgeries in Europe are performed in Germany, followed by France and Italy. This increase in the number of aesthetic and plastic surgical procedures-such as breast augmentation, eyelid surgery, and liposuction-has increased the demand for surgical equipments.

Regional Insights of Europe Surgical Equipment Market

Geographically, the Europe surgical equipment market is segmented into Germany, the U.K., France, Italy, Spain, and Rest of Europe. In 2015, import of surgical equipments in European countries reached approximately ‚¬12.3 billion (USD 14.02 billion). Belgium (~19%) and Germany (~15%) are the leading importers in the EU. Germany accounts for over 30.0% of the total production of these equipments and captured a leading share in Europe. It is also the leading exporter of surgical equipments in Europe and a trade hub for leading global surgical instrument manufacturers due to the absence of trade barriers on American medical devices. Furthermore, increase in number of road accidents in Europe is also expected to propel the demand for surgical equipments. According to Statista Research Department, traffic accidents are one of the leading cause of death in Europe. Increase in cases of trauma & burn injuries and growing geriatric population that need replacement surgeries is also expected to positively influence the market over the forecast period.

Market Share Insights of Europe Surgical Equipment Market

Some key players are B. Braun Melsungen; Smith & Nephew; Erbe Elektromedizin GmbH; Medtronic plc; Swann-Morton; GEISTER Medizintechnik GmbH; and RESORBA Medical GmbH. These players are focused on growth strategies such as mergers & acquisitions, medical product innovations, and new product launches. Companies such as Smith & Nephew and Stryker Corporation have increasingly focused on expanding their product range in orthopedic surgical equipments. For instance, in 2016, Smith & Nephew acquired Blue Belt Holdings, Inc., which operated in orthopedic surgical robotics. This acquisition was expected to boost the formers growth.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Europe Surgical Equipment Market Research Report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, this market research report has segmented the Europe surgical equipment market report on the basis of product, application, and country:

Product Outlook (Revenue, USD Million, 2019 - 2030)

  • Surgical Sutures & Staplers
  • Handheld Surgical Devices
  • Forceps and Spatulas
  • Retractors
  • Dilators
  • Graspers
  • Auxiliary Equipments
  • Cutter Equipments
  • Others
  • Electrosurgical Devices

Application Outlook (Revenue, USD Million, 2019 - 2030)

  • Neurosurgery
  • Plastic & Reconstructive Surgery
  • Wound Closure
  • Obstetrics & Gynecology
  • Cardiovascular
  • Orthopedic
  • Others

Table of Contents
Chapter 1 Methodology and Scope                   1.1 Research Methodology                   1.2 Information Procurement                       1.2.1 Purchased database                       1.2.2 GVR’s internal database                       1.2.3 Secondary sources                       1.2.4 Primary research                       1.2.5 Details of primary research                  Data for primary interviews in North America                  Data for primary interviews in Europe                  Data for primary interviews in
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