Canada Surgical Devices Market Overview - Share, Size, Rising Trends, Depth In-sights, Key Players and Future Opportunities 2033: SPER Market Research

August 30, 2024

Surgical gadgets are specialized tools and instruments that are used during surgical procedures to perform a range of functions. They are designed to be precise, durable, and secure when utilized in surgical procedures. These gadgets can be divided into several groups based on their purpose and application. Cutting and dissecting tools are used to make incisions, remove tissues, and execute surgical dissections.

According to SPER market research, ‘Canada Surgical Devices Market Size- By Product, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Canada Surgical Devices Market is predicted to reach USD XX billion by 2033 with a CAGR of XX%.

Drivers: Increased demand for operations and developments in general surgical instruments, as well as rising health-care spending, are driving market expansion. For example, according to CIHI, the expected wait time for hip replacement surgery in Canada in 2021 is 369 days to attain the 90% completion rate. As a result of the long wait periods, the region is projected to experience a strong demand for procedures.

Furthermore, as more older individuals are likely to require surgical procedures for chronic illnesses and age-related problems, Canada's aging population will increase demand for surgical instruments. Technological advancements are also driving growth in the surgical device industry.

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Challenges: The Canadian surgical equipment market has several challenges that may impede future growth. One of the most pressing challenges is the high cost of surgical devices, which can be too expensive for some patients and healthcare institutions, limiting the adoption of sophisticated surgical equipment and impeding market growth.

The pandemic COVID-19 has had a significant impact on the Canadian surgical device industry. The deferral or cancellation of elective treatments, as well as the reallocation of resources to COVID-19 patients, has resulted in a decrease in demand for surgical instruments. The outbreak has also disrupted global supply networks, resulting in delays in surgical instrument production and delivery. Changes in surgical practices have also come from the need for social distance and infection control measures, with a greater emphasis on the use of minimally invasive procedures and personal protective equipment.

Additionally, some of the market key players are; Boston Sicentific Corporation, CONMED Corporation, Medtronic, B.Braun SE, Johnson & Johnson Services, Inc., Stryker, Integer Holdings Corporation.

Key Target Audience: