The global surgical kits market value reached at US$ 17 Bn in 2020 and predicted to hit US$ 40.5 billion by 2030, growing at a CAGR of 7.1% from 2021 to 2030.
Surgical kits comprise an assortment of surgical tools for a particular type of a procedure or surgery. Surgical kits are required for procedures, including lacerations, life-saving surgeries (heart surgery, brain surgery, etc.), cosmetic surgeries, and exploratory surgeries. Hospitals require multiple surgical kits to have the necessary tools for operating procedures. Investments by key players to strengthen their position are likely to create significant opportunities in the global surgical kits market. For instance, on January 18, 2019, 3i announced the sale of OneMed for GBP 100 Mn. 3i Group plc (“3i”), and funds managed by 3i, entered into a sale and purchase agreement to sell their investment in OneMed, the leading medical supplies distributor in Northern Europe to Nalka Invest AB for GBP 100 Mn.
Most end users are moving toward disposable surgical kits. Surgical kits have been witnessing a paradigm shift toward disposable facemasks over reusable ones. This shift can be attributed to the advantages of disposable surgical kits such as high protection from cross-contamination and elimination of the need to sterilize. Additionally, these kits are cost-effective. Hence, key players are engaged in offering disposable surgical kits. This, in turn, is likely to offer significant opportunities in the global surgical kits market.
Increase in Number of Minimally Invasive (MI) Surgeries
Minimally invasive surgeries involve less post-surgery complications, shorter hospital stays, minimal incisions, and shorter recovery time. These benefits increase the number of people opting for minimally invasive surgeries. For instance, MEMS-built pacemakers are less invasive and inexpensive. According to iData's robotic surgery statistics, in 2019, minimally invasive surgeries accounted for around 86% of total robotic surgeries performed in the U.S. More physicians are being trained in minimally invasive techniques, and the technology has become more acceptable.
Drop-safe Surgical Kits Transforming Surgical Landscape
Improving safety, efficiency, and business performance at operating theaters have become a priority for companies in the surgical kits market. Operating Room Innovations is gaining popularity for DropStop® Securing Kit, which is a cost efficient and sterile solution for ensuring the safety and hold of surgical tools, and prevents sterile items from falling outside of the sterile field.
Drop-safe surgical kits are being highly publicized for their cost reduction, optimization of workflow, and customization of operating rooms. Companies in the surgical kits market are increasing their R&D to draw design innovations in drop-safe surgical kits that prevent unplanned drops of expensive sterile surgical devices. These kits ensure the safety of frequently used surgical tools within reach, allowing the surgical team to focus on the patient and procedure.
Customized Graphic Trays, Feelers, Holders Create Business Opportunities
Companies in the surgical kits market are increasing the availability of sterilization trays as required by customers. Gesco Healthcare - a manufacturer of world class surgical implants & instruments, is broadening its product portfolio in sterilization trays, ROD grippers & holders, and bone probes. This explains why the surgical kits market is projected to advance at a favorable CAGR of 7.1% during the forecast period.
Manufacturers are increasing their production capabilities in TLIF/PLIF instruments and customized graphic trays. Ball tip probes, feeler, and markers are creating revenue opportunities for companies. Modern designs in ROD reducers, silicon handles, and contractors are grabbing the attention of healthcare providers.
Disposable Surgical Kits to Dominate Market
In terms of type, the global surgical kits market has been bifurcated into reusable and disposable. The growth of the disposable segment can be attributed to increase in usage in hospitals, nursing homes, and specialty clinics. North America and Europe contribute significantly to the growth of the disposable segment. The segment held larger share of the surgical kits market in these regions. Reusable kits and devices are soiled, and contaminated with microorganisms when used by patients. This drives the disposable segment. Inadequate cleaning in between patient usage can result in retention of blood, tissue, and other biological debris (soil) in certain types of reusable medical kits and surgical instruments.
High Use of Surgical Kits in General Surgeries
Based on procedure, the global surgical kits market has been classified into ophthalmology, orthopedic, neurosurgery, cardiac surgery, general surgery, gynecology, urology, ear, neck, and head, and others. General surgery is projected to be a highly attractive segment during the forecast period. The growth of the segment can be attributed to the increase in the number of general surgeries. Other factors driving the segment are increase in the number of day surgeries for some procedures so that people can return home more quickly, better use of data to reduce dissimilarity in general surgery performance, and categorize treatment pathways with the most effective outcomes for patients.
Hospitals to be Major End User
In terms of end user, the global surgical kits market has been divided into hospitals, specialty clinics, ambulatory surgical centers, and others. Hospitals is an important channel for usage of multiplexed surgery kits. According to government healthcare facilities, hospitals have reimbursement plans and advanced technology systems for disease treatment. The growth of the segment can be attributed to the rise in the number of surgeries and hospital facilities across the world.
North America to Dominate Surgical Kits Market
In terms of region, the global surgical kits market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global surgical kits market in 2020, followed by Europe. North America accounted for a major share of the global surgical kits market in 2020. Well-established healthcare infrastructure, presence of key players, and increase in focus of companies on the expansion of production capabilities of surgical kits to cater to the rising demand are anticipated to boost the market in the region. On January 16, 2020, Medline Industries, Inc. announced the acquisition of Médi-Sélect, a Quebec City-based medical and dental supplies distributor to join its Medline Canada operations.
The global surgical kits market is fragmented in terms of number of players. Key players in the global surgical kits market include Kimberly-Clark Corporation, Medline Industries, Inc., Cardinal Health, Paul Hartmann AG, Mölnlycke Health Care AB, Hogy Medical, 3M, OneMed, Stradis Healthcare, and Zimmer Biomet.
The Surgical kits market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Surgical kits market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Surgical kits market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Surgical kits market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Surgical kits market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Surgical kits capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Surgical kits by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Surgical kits market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Surgical kits market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Surgical kits market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Surgical kits industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Surgical kits market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Surgical kits market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Surgical kits market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Surgical kits market. These factors have benefited the growth of the global market for Surgical kits. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Surgical kits. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the surgical kits market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the surgical kits market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Surgical kits market.
Market Segments: This part of the report discusses about product, application and other segments of the surgical kits market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
In this study, the years considered to estimate the market size of Surgical kits are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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