GLOBAL GENERAL SURGERY DEVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Regional Analysis

Global General Surgery Devices Market- Regional Insights

• North America is expected to be the largest market for general surgery devices during the forecast period, accounting for over 35.7% of the market share in 2023. North America continues to dominate the global general surgery devices market owing to presence of major market players and well-developed healthcare infrastructure in the region. The US accounts for the largest market share in North America due to supportive healthcare policies and rising awareness about advanced surgical treatments among population. Moreover, hospitals are well-equipped with advanced surgical devices that perform complex surgeries efficiently. Strong focus on innovation and technological advancements has ensured continuous development of innovative devices with improved functionality. Devices manufacturers also get quick approvals and launches of new devices in the market, which help maintain the leader position of the region. However, pricing pressures from insurance companies and regulatory authorities have led to adoption of cost-effective import devices from other regions.
• Asia Pacific market is expected to be the second-largest market for general surgery devices market, accounting for over 25.2% of the market share in 2023. Asia Pacific region has emerged as the fastest growing market for general surgery devices globally. The growth can be attributed to rapidly developing healthcare infrastructure, growing medical tourism industry and rising healthcare expenditures in emerging economies like China and India. Rapid economic growth has improved access to advanced surgical treatments for larger population base. In addition, growing geriatric population suffering from chronic diseases demand effective surgical care. Industry presence of global players is also strengthening through partnerships, acquisitions and entry of low-cost Devices. Countries like China and India also have skilled workforce for manufacture of affordable devices. This has provided boost to regional exports while satisfying domestic demand. Governments also promote local manufacturing through initiatives to reduce imports. Overall increasing investments by both public and private players to avail surgical facilities will continue driving the Asia Pacific market during forecast period.
• Europe market is expected to be the fastest-growing market for general surgery devices market, with a share of 19% during the forecast period. The growth of the market in Europe is attributed to the increasing prevalence of cardiovascular disease in the region.