DUBLIN, Nov. 1, 2019 /PRNewswire/ -- The "Anastomosis Device Market by Product, Surgical Staplers (Manual, Powered), Surgical Sutures (Absorbable, Non-absorbable), and Surgical Sealants and Adhesives, Application (GI, CVD, Other), & End Users (Hospital, ASCs/Clinic) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global anastomosis devices market is projected to reach USD 2.9 billion by 2024 from an estimated USD 2.1 billion in 2019, at a CAGR of 7.2% during the forecast period.
The key factors driving the growth of this market include the increasing incidence of target diseases & the subsequent growth in the number of surgical procedures and growing demand for minimally invasive surgeries. However, the high cost of devices and extensive clinical data requirements for launching new products are expected to restrain the growth of this market during the forecast period.
By application, the gastrointestinal surgeries segment is expected to grow at the highest CAGR during the forecast period (2019-2024)
On the basis of application, the market is segmented into gastrointestinal surgeries, cardiovascular and thoracic surgeries, and other applications. The gastrointestinal surgeries segment commanded the largest share of the anastomosis devices market in 2018. The large share of this segment can be attributed to the rising incidence of gastrointestinal cancer and the extensive usage of anastomosis devices in these surgical procedures.
The Asia Pacific to witness the highest growth during the forecast period (2019-2024)
The Asia Pacific market is projected to register the highest growth during the forecast period. Factors such as the increasing number of hospitals, developing healthcare infrastructure, increasing healthcare expenditure, growing geriatric population, and the presence of a large patient population are driving the growth of the anastomosis devices market in the Asia Pacific.
- Increasing Target Disease Prevalence and Subsequent Growth in the Number of Surgical Procedures
- Growing Demand for Minimally Invasive Surgeries
- Technological Advancements
- High Cost of Devices and Extensive Clinical Data Requirements for Launching New Products
- Growing Healthcare Markets in Emerging Economies
- Product Recalls
- Dearth of Trained Professionals
- B. Braun Melsungen AG
- Baxter International, Inc.
- Becton, Dickinson and Company
- Boston Scientific Corporation
- CONMED Corporation
- Cryolife, Inc.
- Endoevolution, LLC.
- Internacional Farmacutica S.A. De C.V.
- Intuitive Surgical, Inc.
- Johnson & Johnson
- Medtronic Plc
- Meril Life Sciences Pvt., Ltd.
- Pters Surgical
- Smith & Nephew Plc
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