The Global Surgical Equipment market is expected to reach USD 15,7 billion by 2023 with a CAGR of 7.0%. Surgical equipment covers all medical devices used to cut, coagulate, desiccate, and fulgurate the body tissues during any surgical procedures. The growth in the market is being driven by an increase in demand for surgical tools due to rising number of surgical procedures, which in turn is linked to the rising prevalence and incidence of various chronic diseases and the growing ageing population. Moreover, increasing healthcare expenditure, increasing demand of plastic and reconstructive surgery, and rising demand for technologically-advanced minimal invasive surgical procedures are further expected to boost the market over the next few years.
However, stringent government regulations and a reduced year-on-year spend on surgical equipment could hamper market growth during this period. When this is combined with the many new entrants to the market, increasing market share for most companies becomes challenging even though the market is growing. Customer engagement practices through Strategic Account Management (SAM), inside sales or digital sales are all being adopted in an attempt to increase sales within an organisation, placing additional pressure on manufacturers.
Taruna Medical can help manufacturers manage customer expectations within the surgical space whilst keeping costs in line with revenues generated. A large percentage of the sales channel fixed costs become variable as experienced members of Taruna only get a percentage of what they sell and therefore are driven to achieve growth and drive revenue for the benefit of all parties. If you operate within the surgical market and are interested in the benefits of increased customer engagement whilst reducing fixed costs, then please get in touch to discuss how Taruna can help you realise your future potential.