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Surgical Stapling Products Market Growth & Forecast 2024-2033
Surgical Stapling Products Market Growth
According to The Business Research Company's, The surgical stapling products market size has grown strongly in recent years. It will grow from $4.23 billion in 2023 to $4.58 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to cost-efficiency in data collection, increased demand for surveillance and monitoring, risen adoption in agriculture, expansion in construction and infrastructure sectors, emergency response and disaster management.
The surgical stapling products market size is expected to see strong growth in the next few years. It will grow to $6.17 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to wider integration in logistics and delivery, advancements in environmental monitoring, expanding role in public safety, precision agriculture evolution, innovation in entertainment and media. Major trends in the forecast period include development of autonomous drone operations, integration with artificial intelligence (ai) and analytics, expansion of drone services in public safety, regulatory framework development, customization for industry-specific applications.
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Market Drivers and Trends:
The growing number of surgical procedures is expected to propel the growth of the surgical stapling products market. Surgical procedures are used to treat damaged tissues that are hurting a person's health and quality of life or to repair damage already done to the body. Surgical stapling products aid in the expansion of surgical operations by providing surgeons with a tool that allows them to handle a wide range of tissues and applications with exceptional clinical efficacy. For instance, in April 2022, The Aesthetic Society, a US-based organization of the most advanced board-certified aesthetic plastic surgeons stated that surgical procedures increased by 54% in 2021 than the prior years. Therefore, the growing number of surgical procedures is driving the growth of the surgical stapling products market.
Product innovations are the key trends gaining popularity in the surgical stapling products market. Companies operating in the surgical stapling products market are adopting new technologies to sustain their position in the market. For instance, in April 2021, Ethicon, a US-based company engaged in manufacturing surgical sutures and wound closure launched the ECHELON 3000 Stapler, a digitally enabled device that provides surgeons with simple, one-handed powered articulation. ECHELON 3000 builds upon the ECHELON™+ Stapler with GST reloads, bringing forward the same capabilities in advancing staple line security and delivering fewer leakage pathways at the staple line.
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Major Key Players of the Market:
3M Company; B. Braun Melsungen AG; Conmed Corporation; Ethicon Endo-Surgery Inc.; Intuitive Surgical Inc.; Medtronic Cranial & Spinal Technologies; Purple Surgical Holdings Limited; Smith & Nephew plc; Stryker Corporation; Becton, Dickinson and Company; AesDex LLC; CareFusion Corporation; Covidien plc; Frankenman International Limited; Johnson & Johnson Services Inc.; Meril Life Science Pvt. Ltd.; Touchstone International Medical Science Co. Ltd.; Zimmer Holdings Inc.; CooperSurgical Inc.; Teleflex Inc.; Reach Surgical Inc.; Medline Industries Inc.; Grena Think Medical; Dextera Surgical Inc.; EndoEvolution LLC; DePuy Synthes Companies; Aesculap; Applied Medical
Surgical Stapling Products Market 2024 Key Insights:
• The surgical stapling products market will grow to $6.17 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• Rising Surgical Procedures Fuel Surge In Demand For Surgical Stapling Products Market
• Ethicon Unveils Echelon 3000 Stapler, Transforming Surgical Stapling Products Market With Digital Advancements
• North America was the largest region in the surgical stapling products market in 2023
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