The global anastomosis devices market size is projected to reach USD 24.84 million by 2025
LONDON, May 29, 2018 /PRNewswire/ -- Anastomosis Devices Market Analysis By Product (Disposable, Reusable), By Application (Cardiovascular Surgery, Gastrointestinal Surgery), By Region, Competitive Landscape, And Segment Forecasts, 2018 - 2025
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The global anastomosis devices market size is projected to reach USD 24.84 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 5.2% during the forecast period. Rising prevalence of cardiovascular and gastrointestinal diseases is poised to propel the demand for anastomosis devices in the coming years.
According to WHO, 17.7 million people died from CVD in 2015, which represented 31.0% of all deaths in the world. It also states that 80% of these deaths are due to strokes and heart attacks. CHD/CAD (Coronary Heart/Artery Disease) is the most common type of heart disease and around 370,000 people die annually in the U.S. Surgery is crucial for the treatment of such life-threatening diseases, thereby increasing the adoption of anastomosis devices in these surgeries.
Lifestyle associated changes, medical procedures, and/or drug therapy can be effectively used to prevent or treat CAD in most people.Clearly, invasive cardiac surgery is not the first-line of treatment for patients, where less invasive options such as angioplasty and stenting are feasible.
Nevertheless, for many patients with advanced or diffuse diseases, surgery remains the best option and anastomosis devices are widely used in such surgeries. Swelling demand for CABG, increasing geriatric population, reduced risk associated with surgery, and growing number of people who need re-operations after 10 to 12 years from their first bypass surgery.
Introduction of technologically advanced products with associated advantages such as less exposure to anesthesia, reduced operating time, reduced chances of blood leaks, and convenience are among factors likely to stoke growth of the market.Moreover, presence of favorable reimbursement structure in developed countries is estimated to bolster the growth of the market.
For instance, Medicare policies in the U.S. offer reimbursement for CABG and colorectal surgery.
Further key findings from the study suggest:
• Disposable anastomotic devices will continue to dominate the market until 2025, commanding just over 88.0% of the overall market. The growth of the segment can be attributed to wide product offering of various market players
• Reusable anastomotic devices are anticipated to exhibit a CAGR of about 6.0% over the forecast period owing to increasing need to reduce biomedical waste
• On the basis of application, cardiovascular surgery held the largest share of the market in 2016 owing to rising prevalence of CHD and increasing number of CABG procedures around the globe
• North America was at the forefront in the global arena owing to presence of well-structured reimbursement policies, widening base of target population, and local presence of a large number of key players
• Asia Pacific is expected to grow at a lucrative rate of 6.1% during the forecast period owing to growing geriatric population, rising incidence of CVD, rapid developments in the healthcare sector, and increasing disposable income
• Key market players are engaged in various strategies such as distribution agreements to augment their market penetration. For instance, in February 2016, Maquet Medical Systems USA entered into a distribution agreement with BIOTRONIK to distribute the latter's peripheral vascular devices in the U.S.
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