Surgical Cutting Tool Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The surgical cutting tool market size has grown strongly in recent years. It will grow from $12.50 billion in 2023 to $13.39 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increasing age-related conditions, growing emphasis on patient safety and infection control, the expansion of medical tourism, an increasing focus on training and skill development for surgeons, and rising awareness and adoption of evidence-based surgical practices.
The surgical cutting tool market size is expected to see strong growth in the next few years. It will grow to $17.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to the growing emphasis on personalized surgical procedures, increasing use of augmented reality and virtual reality in surgical planning, increasing development of eco-friendly, recyclable surgical cutting tools, and a growing focus on minimizing surgical complications. Major trends in the forecast period include advancements in material science, improvements in tool coatings and surface treatments, adoption of computer-aided design (CAD) and computer-aided manufacturing (CAM) technologies, the emergence of new surgical techniques, and increasing investment in research and development.
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Scope Of Surgical Cutting Tool Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Surgical Cutting Tool Market Overview
Market Drivers –
Increasing demand for surgical procedures is expected to propel the growth of the surgical cutting tool market going forward. The demand for surgical procedures is increasing due to an aging population requiring more medical interventions, a rising prevalence of chronic diseases, and improved access to healthcare services globally. Surgical cutting tools are crucial for precise incisions, tissue dissection, and bone cutting, ensuring effective surgical treatment with minimal tissue damage and improved patient outcomes. For instance, in March 2023, according to the British Association of Aesthetic Plastic Surgeons, a UK-based surgical organization, there were 31,057 cosmetic surgery procedures performed in 2022, marking a 102% increase from the previous year, with men accounting for 7% of all procedures, reflecting a 118% rise from 2021. Therefore, increasing demand for surgical procedures is driving the growth of the surgical cutting tool market.
Market Trends –
Major companies operating in the surgical cutting tool market are focusing on developing technologically advanced medical solutions, such as the surgical stapler cutter, to enhance precision, efficiency, and patient outcomes in surgical procedures. A surgical stapler cutter is a medical device used in surgery to staple and simultaneously cut tissue, facilitating efficient closure and reducing surgical time. For instance, in May 2024, Ethicon Inc., a US-based medical equipment manufacturing company, launched the ECHELON LINEAR Cutter, the first linear cutter with combined 3D-stapling technology and gripping surface technology (GST), to help reduce surgical risks and support improved patient outcomes. The Cutter leverages Ethicon’s proven GST to stabilize and compress tissue, reducing slippage, and 3D Stapling Technology with offset staple legs to distribute compression load evenly and reduce potential leak pathways. These advanced technologies help provide exceptional staple line integrity across a broad range of tissue thicknesses, which is crucial as anastomotic leaks are a serious complication in colorectal surgery with mortality rates ranging from 10–15%.
The surgical cutting tool market covered in this report is segmented –
1) By Type: Cobalt Carbide, Niobium Carbide, Titanium Carbide
2) By Application: Ophthalmology, Gynecology, General Surgery, Bariatric Surgery, Plastic Surgery, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Clinics
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Regional Insights –
Asia-Pacific was the largest region in the surgical cutting tools market in 2023. The regions covered in the surgical cutting tool market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the surgical cutting tool market are Medtronic plc, Stryker Corporation, Olympus Corporation, Terumo Corporation, Arthrex Inc, Kennametal, Lisi Medical SA, Integra LifeSciences Corporation, Meril Life Inc, Medacta International SAS, Avalign Technologies Inc, Aesculap Implant Systems Inc, KLS Martin Group, ARCH Global Holdings LLC, Intech Medical SAS, pfm medical ag, Biorad Medisys Pvt Ltd, Autocam Medical Inc, Trauson Medical Holdings Ltd, Precision Spine Inc, Paragon Medical Inc, Medicon de, Kebomed A/s, Astura Medical, Adler Ortho Spa, Nebula Surgical Pvt Ltd, MEDGAL Sp z o.o, Marle Group
Table of Contents
- Executive Summary
- Surgical Cutting Tool Market Report Structure
- Surgical Cutting Tool Market Trends And Strategies
- Surgical Cutting Tool Market – Macro Economic Scenario
- Surgical Cutting Tool Market Size And Growth
…..
- Surgical Cutting Tool Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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