PORTLAND, Ore., March 15, 2021 /PRNewswire/ — Allied Market Research published a report, titled, “Surgical Equipment Market by Product (Sutures & Staplers, Handheld Surgical Instruments, Electrosurgical Devices, Others), Category (Reusable Surgical Equipment and Disposable Surgical Equipment), and Application (Neurosurgery, Plastic & Reconstructive Surgeries, Wound Closure, Urology, Obstetrics & Gynecology, Thoracic Surgery, Microvascular, Cardiovascular, Orthopedic Surgery, Laparoscopy, Ophthalmic Application, Veterinary Application, Dental Application, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027.” According to the report, the global surgical equipment market garnered $31.72 billion in 2019 and is expected to reach $44.44 billion by 2027, registering a CAGR of 6.3% from 2020 to 2027.
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Key determinants of the market-
Surge in geriatric population, rise in chronic diseases, growth in demand for minimally invasive surgeries, and increase in number of surgical procedures across the globe drive the global surgical equipment market. However, high price competition and unfavorable taxation policy hinder the market growth. On the other hand, growth prospects in the emerging economies and advancement in technology are expected to pave the way for numerous opportunities in the near future.
- To meet the increasing demand for appropriately trained…