Partnerships and Expansions Accounted for the Largest Share of the Overall Growth Strategies Followed by Key Players in the Plastic Surgery Instruments Market Between 2015 and 2018.
The global plastic surgery instruments market is expected to reach USD 1,479.0 Million by 2023 from USD 1,002.0 Million in 2018, at a CAGR of 8.1%. This market is experiencing significant growth due to the increasing awareness of cosmetic surgeries, growing number of age-related surgeries across the globe, and increasing incidence of cancer.
Partnerships and expansions accounted for the largest share of the overall growth strategies followed by key players between 2015 and 2018. Some of the companies that adopted this strategy include B. Braun Melsungen AG (Germany), KARL STORZ GmbH & Co. KG (Germany), and Zimmer Biomet (US). The plastic surgery instruments market is fragmented in nature with the presence of several large as well as emerging players.
Sklar Surgical Instruments (US) is one of the leading providers of plastic surgery instruments. The company offers a wide range of precision-crafted, tungsten carbide (TC) or stainless steel, premium OR-grade surgical instruments for different applications, including plastic surgery. It also provides repair and maintenance services to their customers. The company primarily focuses on inorganic growth strategies to enhance its presence in the global plastic surgery instruments market. In this regard, in March 2014, the company acquired Simon Pearce Store (US) for the distribution of its surgical instruments. Furthermore, in October 2014, Sklar partnered with Seneca Medical (US) to supply Seneca Medical’s surgical instruments to hospitals and surgery centers across the Midwest region in the US.
KLS Martin (Germany) is one of the leading players in the plastic surgery instruments market. The company markets its products in over 140 countries across the globe, and its subsidiaries are present in the US, Russia, China, Japan, Dubai/UAE, Brazil, Malaysia, Australia, Italy, France, and the Netherlands. This vast network helps the company provide its solutions and services in most parts of the globe. The company aims to provide high quality, reliable, and easily available surgical products along with long-term service options to their end users. The company’s wide product portfolio, vast distribution network, and strong customer relations are expected to drive its growth in the market.
Integra LifeSciences Corporation (US) is one of the leading players in the market. The company has a strong brand value, which is maintained by offering end users with high-quality products. To maintain its leading position in the plastic surgery instruments market, the company focuses on R&D activities. The company invested USD 58.2 million, USD 50.9 million, and USD 43.6 million in R&D activities in 2016, 2015, and 2014, respectively. The company also focuses on inorganic growth strategies such as acquisitions to strengthen its position in the market.
Related Reports:
Plastic Surgery Instruments Market by Type (Handheld (Forceps, Needle Holder, Scissors, Retractor), Electrosurgery (Bipolar, Monopolar)), Procedure (Cosmetic (Breast Augmentation, Face, Head, Extremities), Reconstructive), End User - Global Forecast to 2023
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