Surgical Kits Market Trends

Growth Drivers

• Growing Number of Cataract Surgeries- Cataract is a leading cause of blindness and it can develop at any age. Numerous factors linked to cataract development includes diabetes, hypertension, obesity, smoking, and more. Hence these factors are expected to boost the demand for cataract surgery, fuelling the growth of the market. Age could be another factor responsible for cataract development. Every year, about approximately 25% million cataract surgeries are carried out globally and about 3 million of those in the United States. Worldwide, approximately 59,000 cataract surgeries are carried out each day.

• Growing Number of Geriatric Population - The number of persons in the globe who are 60 years or older is expected to double by 2050.

• Rising Demand for Plastic Surgery- According to the survey, approximately 10% of the women claimed they are more interested in cosmetic plastic surgery or non-surgical procedures now than they were before COVID-19. This percentage is much greater among women who have already undergone surgery or a procedure.

• Surge in Company Acquisition Program to Improve Global Footprint - For instance, Hill-Rom Holdings announced in 2019 that it intends to sell some surgical tools to Audax for a price that is expected to be around USD 170 million. This would also enable Audax to boost its resources throughout its product line.

• Robust Demand for Surgical Kits in Emerging Nations- Medical Micro Instruments SpA has announced the official launch of its new plant in Pisa, Italy. In order to facilitate company growth, MMI combined locations throughout the Pisa region into a single, 3,000m-squared property. The cutting-edge facility, which includes development, manufacturing, and administration, would work as the world's "Center of Excellence" for microsurgical surgical robots.

Challenges

• Contamination Issues
• Improper Sterilization of Surgical Kits
• Growing Environmental Issues

The contamination of bacteria owing to the improper dispose of surgical kits is the prominent reason expected to hinder the growth of the market. This contamination of bacteria could lead to various contaminating disease in the patients. They have capability of spreading numerous problematic disease including HIV/AIDS and more.

The global surgical kits market is segmented and analysed for demand and supply by procedure into general surgery, cardiac surgery, orthopaedic surgery, urology, ophthalmology, neurosurgery, and others. Amongst these segments, the general surgery segment is anticipated to garner the second-highest revenue of USD 4,318.4 Million by the end of 2031. Moreover, in the year 2021, the general surgery segment garnered a revenue of USD 2,321.1 Million. The abdominal cavity and its contents, including the oesophagus, stomach, small and large intestines, liver, pancreas, gallbladder, appendix, bile ducts, and frequently the thyroid gland, are the focus of general surgery. Hence the rise in chronic ailments and thyroid which usually affect the contents in abdominal cavity is expected to drive the market growth.According to America Thyroid Association,20 million Americans are estimated to suffer from thyroid illness. Additionally, the orthopaedic surgery segment is expected to grow at a highest CAGR of 8.0% over the forecast period.