U.S. General Surgery Devices Market Size to Hit USD 12.33 Bn by 2033

According to latest report, the U.S. general surgery devices market size was exhibited at USD 5.44 billion in 2023 and is projected to hit around USD 12.33 billion by 2033, growing at a CAGR of 8.53% during the forecast period 2024 to 2033. Potential factors contributing to this growth include the increasing geriatric population, high demand for plastic surgeries, and growing prevalence of orthopedic disorders among individuals. Moreover, increasing number of invasive surgeries for various chronic diseases majorly contributing to market growth.

The major driving factors attributing to the market growth are sedentary lifestyle, poor nutrition, and lack of physical activity which further lead to chronic diseases such as cancer, diabetes, obesity, and cardiovascular diseases. According to the National Institute of Diabetes and Digestive and Kidney Diseases, Statistics, 42.7% of people are obese and 30.7 % of people are overweight in the U.S. Rising prevalence of obesity further contributes to increased demand for median sternotomy procedures thereby expected to drive the segment growth.

In addition, the growing geriatric population is one of the major driving factors fueling the market growth. As per the U.S. Census Bureau report, U.S. population aged 65 and over grew nearly five times faster than the total population over the 100 years from 1920 to 2020, according to 2020 Census. The number of geriatric population reported to be 55.8% in 2020. Thus, the rapidly rising geriatric population showcases significant opportunities in the sternal closure system.

Moreover, well-structured healthcare facilities and ample reimbursement coverages are likely to boost the market growth over the forecast years. The U.S. general surgery devices market accounted for around 35% of the global general surgery devices market in 2023. Advancements in surgical technologies and invasive cardiac surgeries have led to a growing need for specialized sternal closure systems that offer stability, reduced trauma, and enhanced patient outcomes.

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U.S. General Surgery Devices Market By Key Takeaways:

• Based on type, disposable Surgical Supplies dominated the market with a share of 52.2% in 2023
• The energy-based & powered instrument segment is expected to grow at the fastest CAGR from 2024 to 2033
• Based on application, orthopedic surgery held the largest market share in 2023.
• The plastic surgery segment is expected to expand at the fastest CAGR of 8.9% over the forecast period.
• Based on end-use, hospitals dominated the market with a share of 59.25% in 2023.
• The ambulatory surgical center segment is anticipated to witness growth at the fastest CAGR from 2024 to 2033

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U.S. General Surgery Devices Market Concentration  & Characteristics

The U.S. general surgery device industry is concentrated with a high degree of innovations, more number of merger and acquisition activities, and regional and product expansion initiatives undertaken by key companies.

Companies are increasingly focusing on launching new initiatives to maintain their leadership positions and strengthen their presence in this industry. In addition, they implement strategic approaches such as regional as well as product expansionis to serve a wide range of customers and capitalize on geographical growth opportunities. By introducing innovative products, companies can attract customers, drive revenue growth, and enhance their brand reputation in a wide array of geographical industries. For instance, in September 2022, Olympus Corporation introduced the THUNDERBEAT Open Fine Jaw Type X surgical energy devices for open surgery, featuring a new thermal shield to enhance safety during procedures. This innovative device will soon be launched in Europe and the U.S.

Numerous market industries are actively involved in acquiring smaller companies to expand their presence. This strategic approach enables firms to enhance their capabilities, broaden their product portfolios, and improve their competencies. For instance, in September 2022, CONMED Corporation announced its acquisition of Biorez, Inc., a medical device startup based in New Haven, CT. This acquisition, was valued at $85 million at closing with potential additional payments of up to $165 million over four years.

Regulations have the potential to impact companies in various ways, influencing both the demand and supply chain of products. The FDA's Center for Devices and Radiological Health (CDRH) oversees the regulation of companies involved in manufacturing, repackaging, relabeling, and/or importing medical devices distributed in the U.S.

U.S. General Surgery Devices Market By Recent Developments

• In September 2023, Stryker announced a plan to submit the OTTAVA robotic surgical system for an investigational device exemption (IDE) application to the U.S. Food & Drug Administration (FDA) in the second half of 2024 to initiate clinical trials.
• In February 2023, Surgical, Inc. announced a partnership with Google Cloud to integrate Google Cloud's secure cloud data architecture and machine learning technologies. This partnership aims to enhance the capabilities of Asensus Surgical's Performance-Guided Surgery (PGS) framework through the Intelligent Surgical Unit.
• In January 2023, Orthofix Medical Inc. along with SeaSpine Holdings Corporation announced the successful completion of their merger of equals following approval from both companies' stockholders.This strategic move combines the strengths of both companies to create a leading global spine and orthopedics entity.

Some of the prominent players in the U.S. general surgery devices market include:

• Johnson & Johnson Service, Inc.
• Conmed Corporation
• Integra LifeSciences
• Becton, Dickinson, and Company (Bd)
• Cadence Inc
• Integer Holdings Corporation
• Stryker
• Boston Scientific Corporation
• 3M Healthcare
• Biomez, Inc.

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Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the U.S. General Surgery Devices Market analysis from 2021 to 2033 to identify the prevailing U.S. General Surgery Devices Market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the cancer supportive care drugs industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global U.S. General Surgery Devices Market trends, key players, market segments, application areas, and market growth strategies.

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