Surgical devices market projected to reach $296.76 billion by 2031

  • MarketsandMarkets projects the global surgical devices market to reach $296.76 billion by 2031, while a related report covers smoke evacuation systems.
  • The surgical devices market is forecast to rise from $188.74 billion in 2026 at a 9.5% CAGR; smoke evacuation systems are forecast to grow from $0.20 billion in 2025 to $0.30 billion by 2031 at 7.5%.
  • North America leads the broad surgical devices market, Asia Pacific has the highest projected growth, and smoke evacuation pencils, wands and laparoscopic applications lead the related market.

MarketsandMarkets projects the global surgical devices market to grow from $188.74 billion in 2026 to $296.76 billion by 2031, a 9.5% compound annual growth rate. Drivers include aging populations, chronic disease, rising procedure volumes, minimally invasive and robotic-assisted surgery, technological advances, higher healthcare spending and expanding healthcare infrastructure. North America is the largest regional market, while Asia Pacific is expected to record the highest growth rate; implants lead products and hospitals lead end users. A related ResearchAndMarkets.com report projects the global smoke evacuation systems market to rise from $0.20 billion in 2025 to $0.30 billion by 2031, a 7.5% CAGR, supported by electrosurgical procedures, operating-room safety concerns, filtration advances and laparoscopic surgery. Smoke evacuation pencils and wands are expected to lead products, while the United States is projected to have North America's highest CAGR. Regulatory gaps, costs and surgeon resistance remain constraints.

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