GLOBAL SURGICAL STAPLING DEVICES MARKET FORECAST 2019-2027
NEW YORK, April 2, 2019 /PRNewswire/ -- KEY FINDINGS
Surgical stapling devices are advanced medical devices which are generally preferred to overcome post-operative challenges that occur due to staple line leakages.The global surgical stapling devices market was calculated at $XX million in 2018.
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However, due to growing incidences of neurological diseases and the increased adoption of these surgical staplers in several bariatric procedures the market has witnessed an upswing and is anticipated to capture $67,975 million by 2027 and proliferate at a CAGR of 7.20% between 2019 and 2027.
MARKET INSIGHTS
The incidence of prolonged illnesses such as orthopedic, cardiovascular, and neurological diseases is growing worldwide.The rising incidence of cancer is anticipated to boost the surgical stapling devices market.
Lung cancer is one of the leading causes of death worldwide.This indicates the huge scope of expansion for the therapeutics segment of cancer over the forecast period.
The high cost of operations and strict government policies are the major factors hindering the surgical stapling devices market.
The surgical stapling devices market is segmented based on usages which are sub-divided into disposable surgical stapling devices and reusable surgical stapling devices and also segmented on the basis of the end-user, which is further sub-divided into ASC and hospitals.
REGIONAL INSIGHTS
The geographical segmentation of the global surgical stapling device market is carried out over four major regions, in particular, North America, Europe, Asia-Pacific and Rest of World. By the end of the forecast period, the North American market is expected to dominate the global surgical stapling market.
This growth specific to North America can be attributed to a shift from inpatient surgical therapy to outpatient surgical procedures in the region.A growing trend for the increased adoption of battery-powered surgical staplers has also been observed in this region.
The market in the region is likely to shift from electric powered surgical staplers to battery powered surgical staplers. This is due to the increased advantages such as the ease of use and improved mobility.
COMPETITIVE INSIGHTS
The market has several contending companies that are fighting tooth and nail to gain an advantage over one another through organic and inorganic strategies such as mergers, acquisitions, product launches, etc.Some of these companies are Intuitive Surgical, Smith and Nephew PLC, Cook Medical LLC, Stryker Corporation, Medtronic PLC, Boston Scientific Corporation, Conmed Corporation, St.
Jude Medical Inc. (Acquired By Abbott Laboratories), Dextera Surgical, Ethicon Inc., Atricure Inc., 3M Company, Abbott Vascular Inc., Grena, and Johnson & Johnson.
Ethicon Inc. is one of the world's leading healthcare and consumer goods companies and is a subsidiary of Johnson & Johnson. It operates in three major business segments: medical devices and diagnostics, pharmaceuticals, and consumer products
Companies mentioned
1. 3M COMPANY
2. ABBOTT VASCULAR INC.
3. ATRICURE INC.
4. BOSTON SCIENTIFIC CORPORATION
5. CONMED CORPORATION
6. COOK MEDICAL LLC
7. DEXTERA SURGICAL
8. ETHICON INC.
9. GRENA
10. INTUITIVE SURGICAL
11. JOHNSON AND JOHNSON
12. MEDTRONIC PLC
13. SMITH AND NEPHEW PLC
14. ST. JUDE MEDICAL INC. (ACQUIRED BY ABBOTT LABORATORIES)
15. STRYKER CORPORATION
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