According to a recent report by Reports and Data, the global Surgical Devices Market is expected to reach USD 20.20 Billion by 2028, with a revenue CAGR of 9.6% over the forecast period. The growing prevalence of chronic diseases and an increasing number of surgical procedures are among the main factors expected to drive market growth.

Additionally, the rising demand for handheld surgical devices is also expected to contribute to the revenue growth of the market going forward. Chronic diseases are a major cause of health expenditures globally and are a serious threat to both morbidity and mortality.

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Handheld surgical devices are increasingly being used in noninvasive surgeries due to their low cost compared to robotic devices. This convenience of use has led to the rapid adoption of handheld surgical instruments by surgeons, further driving market growth.

However, stringent government regulations for surgical device approval for marketing and the negative impact of Covid-19 on surgical device manufacturing companies are expected to hinder revenue growth during the forecast period.

The report also highlights some key factors, including the reusable surgical device segment, which is expected to expand at a significant CAGR due to the rising demand for reusable surgical devices among healthcare providers.

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The surgical sutures and staples segment is also expected to register considerable revenue growth over the forecast period, mainly due to their widespread use in wound healing procedures. The orthopedic surgery segment is expected to register a significant revenue growth rate in the global surgical devices market due to the rising number of orthopedic surgical procedures.

North America is expected to account for the largest revenue share in the global market over the forecast period. The high presence of major surgical device providers in countries in the region, such as Stryker Corporation, Aspen Surgical Products, Inc., Cadence Inc., and Becton, Dickinson and Company, is expected to propel revenue growth of the market.

The report also profiles several companies in the global market, including Smith & Nephew plc, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, Medtronic plc, Stryker Corporation, Ethicon, Inc. (Johnson & Johnson Medical Devices), Aspen Surgical Products, Inc., CONMED Corporation, Cadence Inc., and Becton, Dickinson and Company.

In June 2021, Aspen Surgical Products, Inc. announced the acquisition of Stork, a division of Briggs Healthcare. This acquisition is expected to strengthen Aspen's broad portfolio of medical and surgical disposables offered for the acute care industry.

The global surgical devices market has been segmented by Reports and Data based on device type, product, application, and region. The device types include disposable surgical devices, reusable surgical devices, and medical robotics & computer-assisted devices. The product categories include surgical sutures and staples, auxiliary instruments, energy-based & powered instruments, and others. The application segment includes orthopedic surgery, laparoscopy, neurosurgery, wound closure, and others. The regional outlook covers North America, Europe, Asia Pacific, Latin America, and MEA.

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