A new market research report titled “Surgical Suction Instruments Market by Type (Tubes, Tips, Retractors, Cannulae), Usability (Disposable, Reusable), Application (General Surgery, Neurosurgery, Orthopedic, Cardiovascular, Dental), End User - Global Forecast to 2029” highlights the projected growth of the global surgical suction instruments market. The market, valued at USD 375 million in 2024, is expected to reach USD 503 million by 2029, registering a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2024 to 2029.
The rising demand for surgical procedures, advancements in medical technology, and the growing aging population are key drivers contributing to the significant market expansion. The report segments the market by product type, usability, application, and end-user, offering a comprehensive analysis of the factors influencing market growth.
Key Insights:
Market Value: The surgical suction instruments market is projected to reach USD 503 million by 2029, up from USD 375 million in 2024.
CAGR: The market is expected to grow at a CAGR of 6.1% between 2024 and 2029.
Product Segmentation: The report categorizes instruments by type, including tubes, tips, retractors, and cannulae.
Usability: The market is divided into disposable and reusable instruments, catering to varying surgical requirements.
Applications: Applications of surgical suction instruments span multiple disciplines, including general surgery, neurosurgery, orthopedic surgery, cardiovascular surgery, and dental procedures.
End-User Segments: Hospitals, clinics, and other healthcare providers are the primary end users of these instruments, reflecting the broad demand across healthcare settings.
As surgical techniques continue to advance, the demand for efficient suction devices is expected to grow, enhancing surgical precision and patient outcomes. This report serves as a valuable resource for medical device manufacturers, healthcare providers, and investors seeking to understand the market dynamics and capitalize on emerging opportunities.
North America Emerges as Key Driver of Surgical Suction Instruments Market
North America emerges as a dominant force in the global surgical suction instruments industry, boasting the largest CAGR among regions during the forecast period. This growth is attributed to various factors, including governmental initiatives promoting health awareness and subsidizing treatments, thereby stimulating market expansion. The region experiences a significant uptick in demand for surgical suction instruments, driven by evolving patient needs and dynamic shifts in the healthcare landscape.
Key Developments Shape Surgical Suction Instruments Industry Landscape
1. Olympus Corporation Enhances GI Endo Therapy Portfolio Through Acquisition
In January 2024, Olympus Corporation expanded its capabilities by acquiring Taewoong Medical Co., Ltd., a Korea-based medical device manufacturer. This strategic move bolsters Olympus' GI Endo Therapy product portfolio, aiming to enhance patient outcomes through comprehensive solutions and elevate the standard of care in gastrointestinal endoscopy.
2. Stryker Broadens Aneurysm Treatment Solutions with Cerus Endovascular Acquisition
May 2023 witnessed Stryker's acquisition of Cerus Endovascular Ltd. (UK), a medical device company specializing in neurointerventional devices. Cerus Endovascular's innovative products complement Stryker's existing portfolio, enriching the company's offerings in aneurysm treatment solutions and reinforcing its commitment to advancing neurointerventional care.
3. Cardinal Health, Inc. Partners with Kinaxis to Enhance Supply Chain Agility
Cardinal Health, Inc. announced a strategic partnership with Kinaxis (Canada) to enhance the Kinaxis RapidResponse Platform for supply chain agility and medical product visibility. This collaboration underscores Cardinal Health's commitment to optimizing supply chain operations, ensuring efficient distribution of surgical suction instruments, and meeting evolving healthcare demands.
4. Medtronic and American Society for Gastrointestinal Endoscopy Expand Health Equity Assistance Program
July marked the expansion of the Health Equity Assistance Program by Medtronic and the American Society for Gastrointestinal Endoscopy, supported by Amazon Web Services. As part of this initiative, the first installation of donated GI Genius intelligent endoscopy modules was completed, aiming to improve access to colon cancer screening and advance healthcare equity.
Content Source:
https://www.marketsandmarkets.com/PressReleases/surgical-suction-instruments.asp
https://www.marketsandmarkets.com/ResearchInsight/surgical-suction-instruments-market.asp
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