Portland, OR, Feb. 23, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Surgical Equipment Market Size was pegged at $31.72 billion in 2019, and is anticipated to reach $44.44 billion by 2027, registering a CAGR of 6.3% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
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Increase in geriatric population, rise in chronic diseases, growth in demand for minimally invasive surgeries, and surge in the number of surgical procedures across the world fuel the global surgical equipment market. On the other hand, high price competition and unfavorable taxation policy impede the growth to some extent. Nevertheless, growth prospects in the emerging economies and advancement in technology are expected to create lucrative opportunities in the coming years.
- In order to cater to the escalating demand for highly skilled medical staff for the covid-19 patients, huge mass of medical provisions were deployed to Covid-19 care branches. This, in turn, postponed the surgical activities.
- On the other hand, dearth of raw materials affected the manufacturing of surgical equipment. Thereby impacting the global surgical equipment market negatively.
- However, the worldwide situation is gradually being ameliorated and the market is projected to get back to its position soon.
The global surgical equipment market is analyzed across product, category, application, and region. Based on product, the handheld surgical instruments segment contributed to nearly two-fifths of the total market share in 2019, and is expected to retain its ...
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