Press release
Global Surgical Stapling Devices Market To Be Driven By The Increasing Prevalence Of Modern Surgical Instruments In The Forecast Period Of 2023-2028
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 4.02 billion
• Forecast CAGR (2023-2028): 7.0%
The global market for surgical stapling devices is being driven by advancements in medical technology. The factors like sophistication of medical instruments, the growing adoption of modern surgical equipment by surgeons and healthcare professionals, and the rising bariatric surgeries are significantly contributing to the growth of the market. In addition to this, the increasing prevalence of chronic diseases such as cancer, tuberculosis, and others is likely to provide impetus to the market in the forecast period. Moreover, the rising number of accidents and sports-related injuries among the young population is anticipated to aid the market in the coming years.
Industry Definition and Major Segments
Surgical stapling devices refer to the medical devices used for stapling tissues inside the body during surgery. Surgical stapling devices bolster the placement of staplers which accelerates the recovery of the tissue and enhances the safety of the patient. Surgical stapling devices can be classified into disposable and reusable.
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By product, the market can be segmented into:
• Powered Surgical Stapling Devices
• Manual Surgical Stapling Devices
Based on type, the market is bifurcated into:
• Disposable Surgical Stapling Devices
• Reusable Surgical Stapling Devices
The significant end-uses of the product are as follows:
• Hospitals
• Ambulatory Centers
The regional markets for surgical stapling devices include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The market growth of surgical stapling devices can be attributed to the introduction of smart stapling devices, and stapling devices with decreased diameter for greater comfort of the patients. The growing adoption of smart surgical stapling devices that offer full-powered functionality is anticipated to propel the market growth in the coming years. Furthermore, the growing R&D activities by the major market players especially in the emerging economies are likely to provide impetus to the market in the forecast period.
Geographically, North America accounts for a significant share in the market owing to the strong foothold of major medical device manufacturers in countries like the United States of America and Canada, coupled with the technologically advanced healthcare infrastructure in the region.
Key Market Players
The major players in the market are Covidien, Ethicon US., LLC, Intuitive Surgical, Cardica, Inc, and Medtronic plc, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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