Surgical equipment is medical devices/tools that serve the specific purpose during surgery. These tools enable the physical modification of biological tissue to provide access to underlying body components. The global surgical equipment market is expected to grow at significant CAGR of 11.1% during the forecast period. Inception of modern electronic technologies such as minimally invasive surgery equipment, and robotic & power assisted systems are primarily driving the surgical equipment market. Development of da Vinci Surgical System by Intuitive Surgical, Inc., in 2011 has provided a breakthrough platform for the robotic assisted surgeries. Despite such promising factors, inadequate quality assurance concerning to performance, improper sterilization procedures for reusable equipment and the absence of affirmative regulatory framework in some regions (such as developing economies).stand as restraints for the development of the market.
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Medtronic Inc., Stryker Corporation, Conmed Corporation, Carefusion Corporation, Alcon Laboratories Inc., Smith & Nephew PLC, Ethicon Inc., Zimmer Holdings Inc. and KLS martin group are the key players of this market and are sharing approximately half of the global revenue of the surgical equipment market. Presently, Stryker, Zimmer and Carefusion are dominating the market for electrosurgical devices that are anticipating tremendous growth in the overall surgical equipment market during the study period. Product launch is the popular strategy followed in the global surgical equipment market, which has helped the manufacturers to gain substantial market share. Recently, Zimmer had launched three products for minimally invasive surgery, namely Viewline Retractor System, Tube Retraction System and Posterior Instrument Set. These products largely find their applications in microdiscectomy procedures.