The general surgery market is forecast to grow steady getting into future decade. The market was valued at $14.6 billion in 2017 and is anticipated to succeed in a price of $21.6 billion in 2024, increasing at a Compound Annual rate (CAGR) of five.7%, during the forecast year.
The general surgery market consists of many completely different classes of devices, together with those employed in bariatric surgery, biopsy, aesthetics, endoscopy, medical specialty, herniation repair, non-vascular stents, and surgical energy.
In 2017, the marketplace for endoscopy devices was expected to be $7.6 billion and is anticipated to grow at a CAGR of 7.3% to succeed in a price of $12.5 bn in 2024.
“An increasing demand for minimally invasive therapies and advancements in imaging technology is fuelling the expansion of the endoscopes market that presently accounts for more than half of the overall surgery market in terms of market size”.
An increasing pressure on early diagnosis of diseases such as cancer is fuelling the expansion of the diagnostic test devices market. This can be expected to grow at a CAGR of 2.2% from 2017 to 2024. Increasing obesity rates are expected to drive the marketplace for bariatric surgery devices at a CAGR of 9.3% from 2017 to 2024 because of the increasing range of bariatric surgical procedures.
The robotic surgical systems market is anticipated to witness important growth over the forecast amount, with a CAGR of 13.5% from 2017 to 2024 for robotic surgical systems used inside general surgery.
‘The general surgery market saw a worth erosion in several countries, and also the trend is anticipated to continue throughout the forecast period. Budget constraints on healthcare systems, along with a purchasing process that is turning into additional clear and stakeholder-intensive – is expected to manage the prices and effectiveness of the buying process; as well as the devices that go together with it”.
