Press release
Surgical Staplers Market to thrive at a CAGR of 8.1% Forecast until 2023| Ethicon (Johnson & Johnson), Covidien (Medtronic), 3M, B.Braun, Dextera Surgical, Intuitive Surgical
The rapid increase in the occurrence of diseases such as obesity, cardiovascular problems, and cancer, are contributing to the rise in the number of surgeries of the open, as well as minimally invasive type. Also, the continuous introduction of new technologies and innovations in the medical devices market to provide faster recovery to patients, is raising the demand for surgical staplers. The global surgical staplers market is expected to grow at a CAGR of 8.1%, leading to global revenue of USD 5.66 billion by 2023.
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The surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable surgical staplers. Manual surgical staplers dominated the market share in 2017 while the reusable surgical staplers are expected to grow at a higher CAGR in the coming years.
The surgical staplers market is further segmented based on its applications in - abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries. In 2017, the abdominal surgeries segment held the biggest share of the market while the orthopaedic surgeries segment is expected to register the highest growth in the coming years.
Key growth factors:
- A rise in the number of surgeries, ageing of global populations and, fast penetration of healthcare insurances are strong contributing factors to the growth of the surgical staplers market.
- In 2015, the older population was 8.5% of the total population. The rise in the geriatric population is leading to rise in age-related diseases which will increase the requirement for surgeries. Moreover, increase in non-communicable diseases like cardiac diseases, obesity and cancers are leading to a rise in its associated procedures. This is increasing the demand for surgical stapling devices.
- Insurance companies are eyeing regions like Asia-Pacific (India), and the Middle East & Africa, which have high out-of-pocket spending on healthcare - to provide coverage to the population under their health insurance schemes.
- Also, surgical stapling processes are faster and more accurate than suturing when appropriately performed, resulting in a lower chance of leakage, fewer wound infections as compared to sutures and quicker recovery time.
Threats and key players:
- Surgical staplers are more expensive than suturing needles. Thus, even though the surgical staplers are a more advanced procedure than suturing or stitching, its adoption in economically backward regions like sub-Saharan Africa, Latin America, etc., is hindered.
- Healthcare spending around the world is not even. The per capita spending on healthcare in some countries like South Africa is much lower than developed countries like the United States. This challenges the growth of the market.
- The presence of alternative wound closure methods in the market like traditional suturing, tissue glue, tape, and healing by secondary intention also hinder the growth of the market.
- The key players in the Surgical Staplers market are Ethicon (Johnson & Johnson), Covidien (Medtronic), 3M, B.Braun, Dextera Surgical, Intuitive Surgical, etc..
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Table of Contents:
Chapter 1: Executive summary
1.1 Market scope and segmentation
1.2 Key questions answered in this study
1.3 Executive summary
Chapter 2: Introduction
2.1. Market definitions
2.2. Value chain of surgical staplers
Chapter 3: Global surgical staplers market overview
3.1. Global market overview
- Global historical (2015-2017) market size (USD Bn)
- Global forecasted (2018-2023) market size (USD Bn)
- Key observations
3.2. Geographical performance- by revenue
3.3. Global surgical staplers market- drivers
3.4. Global surgical staplers market- challenges
3.5. Global surgical staplers market - trends
Chapter 4: Global surgical staplers market -regional overview
4.1. North America
- Historical (2015-2017) market size (USD Bn)
- Forecasted (2018-2023) market size (USD Bn)
- Drivers
- Challenges
- Trends
4.2. Europe
- Historical (2015-2017) market size (USD Bn)
- Forecasted (2018-2023) market size (USD Bn)
- Drivers
- Challenges
- Trends
4.3. Asia-Pacific
- Historical (2015-2017) market size (USD Bn)
- Forecasted (2018-2023) market size (USD Bn)
- Drivers
- Challenges
- Trends
4.4. Latin America
- Historical (2015-2017) market size (USD Bn)
- Forecasted (2018-2023) market size (USD Bn)
- Drivers
- Challenges
- Trends
4.5. Middle East & Africa
- Historical (2015-2017) market size (USD Bn)
- Forecasted (2018-2023) market size (USD Bn)
- Drivers
- Challenges
- Trends
Chapter 5: Global surgical staplers market segmentations
5.1. Global powered surgical staplers market
- Market size (USD Bn) (2015, 2017, 2023)
- Drivers
- Challenges
5.2. Global manual surgical staplers market
- Market size (USD Bn) (2015, 2017, 2023)
- Drivers
- Challenges
5.3. Global disposable surgical staplers market
- Market size (USD Bn) (2015, 2017, 2023)
- Drivers
- Challenges
5.4. Global reusable surgical staplers market
- Market size (USD Bn) (2015, 2017, 2023)
- Drivers
- Challenges
5.5. Global surgical staplers market - overview by applications (Abdominal Surgery, Orthopedic Surgery, Cardiac Surgery, General Surgery, Other Surgery)
- Market size (USD Bn) (2015, 2017, 2023)
- Drivers
- Challenges
Continue…
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