The global surgical and infection control device market has experienced significant growth during the last five years and is expected to continue its growth momentum, according to a new report from Research and Markets, "Global Surgical & Infection Control Device Industry 2012-2017: Trends, Profits and Forecast Analysis."
The report says that this market will reach approximately $84 billion in 2017 with a CAGR of 6.6 percent over the next five years.
Increased focus on the prevention, diagnosis, and treatment of diseases requiring surgical procedures, advances in anesthetics, and an increasing aging population is expected to provide opportunities for industry companies.
The global surgical and infection control device market is consolidated and consists of safety syringes, injection needles, surgical endoscopes, wound dressing materials, stereotactic surgical devices, surgical gloves and apparel, and surgical lights. North America dominates this market, and a combination of factors such as technology innovation, the aging population, improper sterilization techniques, and rising patient pool is seen to impact the market dynamics significantly.
According to the report, the surgical market is facing challenges such as wide variation in awareness and adoption rates, a decline in capital expenditure of hospitals, lack of trained and qualified manpower, and socioeconomic diversity in population and healthcare infrastructure; however, an increase in GDP and per capita income is expected to drive the demand for surgical and infection control devices. Research indicates that the growing middle class in Asia, especially China, India, and southeast Asia present growth potential. North America represents opportunity for the market and is expected to have the largest share over the forecast period.