Surgical Stapling Devices Market Set to Expand by 2024
Global Surgical Stapling Devices Market: Overview
Surgical stapling devices were developed in response to rising concerns regarding the healing of traditional sutures. Compared to modern surgical staplers, sutures are more prone to separation and leaks. Additionally, surgical stapling devices offer a number of advantages over sutures such as accuracy, speed, and evenness of wound closure.
According to the US Food and Drug Administration (FDA), surgical staplers have been on the market for years now and these complex mechanical medical devices have been maturing in their technology. Employed in gynecologic, gastrointestinal, thoracic, and several other surgeries, surgical stapling devices are used to cut through tissues and organs, to remove part of an organ, and to develop connections between structures.
Two major types of surgical stapling devices are available in the market: manual and powered. These devices can be either reusable or disposable. Either way, both types are loaded with disposable cartridges. Geographically, the global surgical stapling devices market covers four main segments: Asia Pacific, North America, Europe, and Rest of the World.
This report offers readers a comprehensive and objective assessment of the global surgical stapling devices market and serves as an ideal blueprint for those looking to expand or enter into a business in this avenue. Supported with accurate facts and figures pertaining to the historical, current, and future performance of the surgical stapling devices market, the report offers actionable insights into where the market is headed and the key factors driving and hampering its growth. The most prominent players competing in the space are also highlighted and reviewed based on recent developments, product portfolio, business strategies, and financial standing.
Global Surgical Stapling Devices Market: Key Trends and Opportunities
The global surgical stapling devices market is single-handedly propelled by the rise in the number of surgeries performed around the world. The demographic trend of increasing geriatric population, growing prevalence of chronic diseases, presence of favorable reimbursement scenarios in developed and developing countries, and advancing medical tourism industry have contributed toward the increase in cardiovascular, neurological, and orthopedic surgeries, among others. This growth in surgical procedures has boosted the demand for surgical stapling devices significantly. Advent of new technologies, highly developed health care infrastructure in developed countries, rising demand for powered surgical instruments and accessories in emerging economies, and growing accessibility to health care facilities in developing countries are the other factors contributing to the expansion of this market.
Global Surgical Stapling Devices Market: Region-wise Outlook
Europe and North America are the dominant regional markets for surgical stapling devices and are likely to retain their lead during the forecast period. These regions are primarily driven by the early acceptance of advanced product innovations and technically advanced equipment. Asia Pacific is a much smaller market compared to the aforementioned developed markets; however, the potential for growth in the region is exceptional.
The RoW segment of the global market also holds immense scope for growth. The patient pool in Asia Pacific and RoW is high, thus translating into an increased number of surgical procedures and soaring demand for surgical stapling devices. Rising awareness about the availability and use of advanced surgical equipment and increasing health care expenditure in several developing countries are also likely to boost the surgical stapling devices market in Asia Pacific and RoW.
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Conmed Corporation, Alcon Laboratories Inc., KLS Martin Group, Zimmer Holdings Inc., Stryker Corporation, Ethicon Inc., Smith & Nephew PLC, Medtronic Inc., and CareFusion Corporation are some of the leading players operating in the global surgical stapling devices market.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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