GLOBAL GENERAL SURGERY DEVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)
The general surgery devices market has been witnessing steady growth over the years owed to the rising prevalence of chronic diseases and the growing geriatric population worldwide. General surgery involves operative procedures for treatment of diseases or injuries in various parts of the body excluding the organs like heart or brain. The increasing adoption of minimally invasive surgeries fuelled by patient preference for quick recovery and minimal scarring has significantly driven the demand for general surgery devices in recent times. Furthermore, the advanced technologies facilitating improved visualization, dexterity and control during complex procedures have boosted the capabilities as well as popularity of general surgery. While developed regions dominate the market currently, emerging nations are expected to provide high growth opportunities owing to growing healthcare expenditure and infrastructure.
Market Dynamics:
The global general surgery devices market is primarily driven by the rising geriatric population prone to injury or disease, increasing obesity rates leading to higher risk of chronic conditions, and growing preference for minimally invasive procedures. However, pricing pressures due to reimbursement cuts and regulatory requirements for new product approval are some of the key factors restraining market growth. The development of robotic assisted platforms expanding the capabilities of complex general surgery presents a major opportunity for manufacturers. Additionally, improving access to healthcare in developing nations will further support the market expansion in the coming years.
For instance, on May 29, 2023, according to a report published in the National Center for Biotechnology Information, in 2022, there were approximately 771 million people aged 65+ years globally, accounting for almost 10% of the world’s population, and this figure has been growing at an increasing rate, which is expected to hit 16% in 2050, and eventually 24% by 2100
Similarly, in October 2022, according to a report published by the World Health Organization (WHO), the share of the population aged 60 years and over will increase from 1.36 billion in 2020 to 1.42 billion, while by 2050, the world’s population of people aged 60 years and older will double (2.1 billion)
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