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General Surgery Devices Market Size to Reach US$ 2.2 Bn by 2030

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Ottawa, Oct. 28, 2021 (GLOBE NEWSWIRE) — According to Precedence Research, the global general surgery devices market size was reached at US$ 1,534.6 million in 2020. The general surgery devices are used in various surgical operations such as stomach surgery, appendix removal, breast surgery, gall bladder removal, and hernia repair. General surgery devices are important to provide improved health to the population. Therefore, wide availability and access to quality surgical devices became more important issue across the globe.

The innovation in general surgery devices is driven by the factors such as economic concerns, need for improved devices, and technological advancements. The availability of advanced surgical devices, rising prevalence of heart related issues, growing incidences of gastrointestinal diseases and osteoporosis, and other such diseases is significantly boosting the demand for the general surgery devices globally. Moreover, improved diagnostics and healthcare facilities, especially in the developed markets have exponentially contributed towards the growth of the general surgery devices market.

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Crucial factors accountable for market growth are:

  • Rising global population
  • RFID and blockchain technology for device tracking
  • Growing disease burden
  • Rapid technological advancements in healthcare industry
  • Growing demand from emerging economies
  • Rising disposable income of the consumers

Scope of the General Surgery Devices Market

Report Coverage Details
Market Size in 2020 US$ 1,534.6 Million
Growth Rate from 2021 to 2030 CAGR of 3.8%
Fastest Growing Market Asia Pacific
Largest Market North America
Segments Covered Type, Application, Region

Recent Developments

  • In December 2020, Koninklijke Philips completed the acquisition of BioTelemetry, a US based diagnostic company, to expand its product offerings.

Regional Snapshots

North America is the leading general surgery devices market owing to the better access to healthcare facilities to the people. Furthermore, the faster adoption and growing popularity of minimal invasive surgery has boosted the market growth in the recent years. Minimal invasive surgery includes robotic, laparoscopic, and endoscopic surgery that offers benefits to the patients such as wider variety of surgeries, less pain, more accurate, less complications, and faster recovery. Hence, the technological advancement played a crucial role in the consumption of general surgery devices in North America.

Asia Pacific is forecasted to be the fastest growing market. This is attributable to the ongoing developments in the manufacturing of the general surgery devices in the economies such as India, China, and Japan. Moreover, growing cases of accidents in the developing nations is further fueling the market growth. According to the United Nations, a higher percentage of road accidents are recorded in the low and middle income nations. Hence, the growing adoption of advanced equipment, growing export of general surgery devices, and rising development of healthcare infrastructure is expected to boost the general surgery devices market in Asia Pacific during the forecast period.

Report Highlights

  • By type, medical robotics and computer assisted general surgery devices segment is estimated to be the most opportunistic segment due to the rising adoption of robotics in surgeries owing to the higher consumer confidence in the advanced procedures.
  • By application, the orthopedic surgery segment held the major revenue share in the global general surgery devices market in 2020 owing to the rising bone disease among the geriatric population and increasing adoption of artificial intelligence in the orthopedic procedures.

Market Dynamics

DriversGrowing geriatric population across the globe is a key driving force of the market. According to the World Health Organization (WHO), by 2020, the population of age 60 years and above is estimated to reach 2 billion. The aged population are vulnerable to numerous disease and it will lead to increased consumption of general surgery devices. Hence, the market is expected to grow rapidly in future.

RestraintsThe high cost of surgery devices is a key restraining factor. The heavy investments due to the technological advancements in the surgery devices have resulted in the high prices of the surgical devices. The acquisition cost of advanced surgery devices is very much high and further, its maintenance cost is also high. This hinders the growth of the market especially in the developing and underdeveloped markets.

OpportunitiesThe introduction of latest technologies such as artificial intelligence, RFID, and blockchain technology in the general surgery devices provides better opportunities. The integration of AI with surgery devices enhanced surgical operations. Further, AI has improved robotics surgery, diagnostic assistance, and medical imaging. The tracking of medical and surgery devices became important to ensure cost effectiveness and transparent supply chain. RFID and blockchain technologies helps in tracking the medical devices efficiently and improves the supply chain functions.

ChallengesCybersecurity has been gaining traction and increased attention in the recent years in the healthcare sector. For instance, Universal Health Services, an US based company, was attacked by a ransomware that resulted in delayed surgery and financial losses. Hence, maintaining data privacy and security is a major challenge to overcome by the healthcare industry.

Segments Covered in the Report

By Type

  • Open Surgery Instrument
  • Disposable Surgical Supplies
  • Minimally Invasive Surgery Instrument
  • Energy Based & Power Instrument
  • Medical Robotics & Computer Assisted Surgery Devices
  • Adhesion Prevention Devices

By Application

  • Ophthalmology
  • Cardiology
  • Orthopedic Surgery
  • Audiology
  • Wound Care
  • Urology & Gynecology
  • Plastic Surgery
  • Thoracic Surgery
  • Others

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

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Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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Artificial Intelligence

ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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