The Business Research Company’s latest report Surgical Equipment Global Market Report 2020 covers Surgical Equipment market drivers, Surgical Equipment market trends, Surgical Equipment market segments, Surgical Equipment market growth rate, Surgical Equipment market major players, and Surgical Equipment market size. The report provides in-depth analysis of the impact of COVID-19 on the Surgical Equipment industry, along with revised market numbers due to the effects of the coronavirus.
Surgical Equipment Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global surgical equipment market is expected to decline from $13.3 billion in 2019 to $11.9 billion in 2020 at a compound annual growth rate (CAGR) of -10.6%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. Several medical facilities in affected countries have been completely closed or have been only providing minimal treatment for emergency cases. This is because the global public health organizations have recommended the medical facilities to postpone elective procedures, surgeries, and non-urgent visits, and to prioritize urgent and emergency visits and procedures in order to protect staff and preserve personal protective equipment and patient care supplies. This has decreased the demand for surgical equipment. Also, the production of surgical equipment also slowed down due to extended lockdown and closure of factories manufacturing the equipment. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach $16.4 billion in 2023.
The report covers the Surgical Equipment market’s segments-
1) By Type: Surgical Sutures And Staples, Handheld Surgical Devices And Equipment, Electrosurgical Devices And Equipment.
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Others.
3) By Type Of Expenditure: Public, Private.
4) By Product: Instruments/Equipment, Disposables.
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