|10-24-2018 11:29 AM CET - Health & Medicine||
Surgical Staplers Market will surge at 7.2% up to 2024 Key Vendors B. Braun Medical, CONMED Corporation, Medtronic, Intuitive, 3M Health Care, Ethicon, Inc., INTEGRA Biosciences, Smith & Nephew, Purple Surgical
Press release from: Global Market Insights, Inc.
Surgical Stapler Market will exceed USD 6.1 billion by 2024; as per a new research report published by Global Market Insights, Inc. Technological advancements in manufacturing safe and effective surgical stapler will propel the business growth in the forecast timeframe. The combination of new functions and new abilities have led to increase in advancements and effectiveness of the wound closure procedure that in turn will efficiently drive the market growth.
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Increase in adoption of surgical stapler over suture in the developing regions of Asia Pacific and Latin America will augment the industry growth in the near future. The growing adoption rate of staplers has increased the efficiency of surgical procedures that were difficult to conduct due to limited access of traditional methods.
Adverse events in the past few years associated with safety of surgical stapler will be one of the market impeding factor. As per the analysis done by U.S. FDA a total of 13,312 cases were reported, of that 3,234 resulted in injury, 9,972 involved a device malfunction and 106 events resulted in death. Product problems related to surgical stapler will result in declining product demand, impeding the industry expansion.
Endoscopic surgical stapler is anticipated to grow at a CAGR of 7.5% during the forecast period. Rise in demand for minimally invasive surgeries such as endoscopic procedures will eventually result in increasing demand for endoscopic stapler, fueling the business growth.
Powered surgical stapler held a substantial market share in the year 2017 with total value of USD 2,749.2 million. Recent technological advancements and increasing R&D activities has resulted in manufacturing of more safe and efficient surgical stapler with minimum risk of post-operative complications. The aforementioned factor will be responsible for industry expansion in near future.
Disposable surgical stapler business is forecast to expand in size with a CAGR of 7.3% during the projection period. Rise in number of complicated surgical procedures that need use of sterile surgical instruments will increase the demand for disposable stapler. Also, use of disposable stapler to minimize bleeding and infections will result in industry expansion.
Cardiac surgery business segment held a considerate amount of market share with USD 827.4 million in 2017. Rising prevalence of chronic diseases such as cardiovascular diseases will result in increase in number of cardiac surgical procedures. Increase in use of surgical stapler in cardiac surgeries will propel the business growth in the upcoming years.
U.S. surgical stapler market valued at USD 1,439.4 million in 2017. Presence of favorable reimbursement policies, insurance coverage and rising number of surgical procedure in the country will be responsible for North American surgical stapler industry growth.
Indian surgical stapler market should grow with a CAGR of 9.8% over the forecast period. Rise in number of chronic surgical procedure, rising geriatric population and improving healthcare infrastructure in the country will lead to increase in product demand, boosting the business progression in Asia Pacific region.
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Some of the notable industry players are 3M, B. Braun Melsungen AG, Conmed Corporation, Ethicon Inc., Frankenman International, Grena, Integra Life Sciences, Intuitive Surgical, Medtronic PLC, Meril Life Sciences, Purple Surgical, Reach Surgical, Smith & Nephew PLC and Welfare Medical. The major players are focusing on expanding their product portfolio by increasing research and development activities, mergers, acquisitions and new product launches.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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This release was published on openPR.
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