(PharmaNewsWire.Com, June 07, 2017 ) Market Data Forecast recently published a report on the “ North America General Surgical Devices Market " which estimates the market which was worth $2.71 billion in 2016 is expected to reach $4.29 billion by the end of 2021 with a CAGR of 9.60%.
The day to day health care activities highly depend on medical instruments. Health facilities ranging from rural health clinic to large specialized hospitals are in need of medical instruments from a simple scissors to a more complex and advanced medical devices. Yet, most of them lack knowledge about medical instruments that are appropriate for their need. This is particularly true in developing countries where health care technology assessments are rare.
Procurement agencies and health facilities are required to prepare appropriate technical specifications and descriptions of medical instruments or equipment whenever they conduct tenders or prepare purchase orders. In order to accomplish this task effectively, knowledge of the type, nature and specific characteristics of the instruments/equipment is essential.
The DROC Analysis contains some of the factors that have major effects on the market dynamics be it positive or negative. Few factors analysed in the section arerising demand due to rising number of surgical procedures with rising prevalence & incidence of various chronic diseases accompanied by increasing ageing population. Moreover, increasing healthcare expenditure, increasing demand for technologically advanced minimal invasive surgical procedures and rising demand for plastic and reconstructive surgery are further expected to boost to the market growth during the forecast period. However, price competition in the industry is one of the factors holding back the growth. Stringent government regulations and lack of proper reimbursement for surgical equipment may also hamper the market growth during the forecast period.
The market is segmented based on technology, type and end-users and is studied for a deep-level understanding of the General Surgical Devices market. Each sub segment is accompanied with Market Size Estimations and Y-o-Y Forecasts as well.
• Type o Calipers o Forceps o Suction Tubes o Scissors o Probes o Handles o Needle Holders o Speculums o Clamps o Distractors o Retractors o Tendon Strippers o Clips o Sutures o Catheters o Approximators o Others
• Technology o Electrosurgical Equipment o Wireless Surgical Equipment o Manual Surgical Equipment
North American Market is studied in geographic perspective by segregating the market shares between USA and Canada. Electrosurgical devices segments is expected to register the fastest growth during the forecast period owing to the rising demand for these devices among growing number of minimal invasive surgical procedures. The growth in North America is driven by advent of new technologies, favorable regulatory framework, growing ageing population, and high disposable income of consumer population.
As per the report, the key players in this market include Medtronic Plc., Stryker Corporation, Johnsons And Johnsons, Conmed Corporation, Alcon Laboratories Inc., Smith & Nephew PLC, Zimmer Holdings Inc., Boston Scientific Corporation, B. Braun Melsungen AG, KLS Martin Group, Olympus Corporation, Applied Medical Resources Corporation, Microline Surgicals, Inc., Karl Storz GmbH & Co. Kg, Cook Medical Incorporated, and Teleflex Incorporated.
Scope of the North America General Surgical Devices Market :
• Regional and country-level analysis that provides an innate perspective of USA and Canada Market to that of the North American region
• To detect major focus areas of industrial growth Segment-level analysis on basis of type, therapeutics, end-user along with market size forecasts and y-o-y estimations are provided
• Detailed explanation of major drivers, restraints, opportunities, and challenges (DROC) that affect the market and impact the ever-shifting market dynamics
• PESTLE and Porter’s Five Forces Analyses that examine the macro & micro environmental factors such as political influence, technological prowess, industry rivalry to name a few.
• An extensive listing of major market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment
• mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies all rolled out into Competitive landscape
• Expertly devised Market Outlook comprising the Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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