The global surgical scalpels market is expected to be worth US$ 1.21 billion in 2022, and it is expected to grow at a CAGR of 3.7% between 2022 and 2032, reaching a value of US$ 1.75 billion by 2032. The rising prevalence of chronic diseases, combined with an increase in the number of surgeries performed globally, is a major factor driving market demand for surgical scalpels.
The stainless steel segment dominated the global surgical scalpels market with a share of approximately 43% in 2021, and this trend is expected to continue during the forecast period.
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Global Surgical Scalpels Market: Dynamics
There are a lot of factors impacting the global surgical scalpels market both negatively and positively. The major drivers of the market’s growth are a rise in the volume of surgical procedures, increase in the number of health care facilities worldwide and less regulatory requirements for product launch. All these factors have contributed to the growth of the global surgical scalpels market revenue. Surgeons are more inclined towards the use of traditional scalpels because of their comfort level and also because traditional scalpels are available easily and at a low price.
However there are also a few factors that have a negative impact on the market, such as an increase in the risk of injury due to the use of scalpels, increased concerns over the safe disposal of used scalpels and increase in alternatives to traditional surgeries.
Global Surgical Scalpels Market: Key Segmental Highlights
The market is segmented into various categories to simplify the study and understanding of the global surgical scalpels market. Here are some of the key highlights of the global surgical scalpels market segments:
Among the product type segments, the disposable surgical scalpel segment dominated the global surgical scalpels market in 2016 and is projected to be the most dominant and lucrative market throughout the forecast period. The reusable surgical scalpels segment is expected to grow at a CAGR of 3.5% during the forecast period.
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In the material type segmentation, stainless steel surgical scalpels are expected to lead the market during the forecast period, with a market size of a little under US$ 434 Mn in 2017, leaving behind the high grade carbon steel market that is estimated to reach a value of about US$ 248 Mn in 2017.
In the end user segmentation, the hospitals segment dominated the global surgical scalpels market in revenue terms in 2016, and the trend is projected to continue throughout the forecast period. It is followed by the ambulatory surgical centres segment with a market value of over US$ 170 Mn in 2017.
Among the various regional markets, APEJ is forecasted to be the dominating market during 2017-2027. The APEJ surgical scalpels market is expected to grow at the highest CAGR of 4.1% and reach a market value of just over US$ 415 Mn by the end of 2027. North America is expected to be the second largest market for surgical scalpels in terms of value and is anticipated to grow at the second highest CAGR of 4.0%.
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Global Surgical Scalpels Market: Competitive Landscape
This comprehensive research report consists of a brief on the competitive scenario of the global surgical scalpels market. It gives complete profiles of the key market players including their current market plans and future growth strategies. Some of the companies featured in the report are Swann-Morton Limited, Hill-Rom, PL Medical Co., LLC., VOGT Medical, Medtronic Plc., Hu-Friedy Mfg. Co., LLC etc.
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