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Surgical Stapling Devices Market will Increase at a CAGR of 7.6% during 2016 to 2026

05-24-2017 03:12 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Surgical Stapling Devices Market will Increase at a CAGR of 7.6%

Two U.S. based companies are likely to dominate the global surgical stapling devices market in terms of market share

In 2015, two leading U.S based companies Johnson and Johnson and Medtronic plc held around 80% share of the global surgical stapling devices market. Although the global surgical stapling devices market is not very niche, other vendors are scattered and focus only on certain countries for the expansion of their business. For instance, vendors in the global surgical stapling devices market are focussing on India and a few other countries in the Asia Pacific region except China and Japan to explore hitherto untapped markets for expanding their business. One such vendor is India based surgical stapling devices company Meril Life Sciences Pvt. Ltd., which exports around 90% of its surgical stapling devices along with its other products to the MEA region.

Rising prevalence of obesity and a geriatric population requiring surgical procedures anticipated to fuel the growth of the global surgical stapling devices market

A sedentary lifestyle leads to higher BMI, as a result, a large number of people are opting for bariatric surgeries. This is a major factor driving adoption of surgical stapling devices over conventional suturing. The increasing prevalence of obesity drives the incidence of bariatric surgeries. Moreover, healthcare professionals, especially in developed regions, are increasingly inclined towards the adoption of surgical stapling devices for bariatric surgeries, which is creating a positive impact on the global surgical stapling devices market. Another factor driving the growth of the global surgical stapling devices market is an increasing geriatric population across the globe. This population is expected to drive demand for surgical stapling devices due to increasing number of surgeries performed for the prevention of various diseases related to old age.

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Surgical stapling devices are preferred over conventional suturing devices during laparoscopic surgeries, as suturing becomes difficult when a surgeon is operating on the 3-dimensional plane while concentrating on the 2-dimensional plane. Surgeons get the required accuracy and precision while operating with surgical stapling devices. This factor is fuelling the growth of the global surgical stapling devices market. Besides, reusable surgical stapling devices are preferred by the procurement team of hospitals as it labelled under the category of “green products”, resulting in considerably less impact on the environment, compared to plastic single-use disposable surgical stapling devices. These products can be easily cleaned and sterilised by standard hospital processes, commonly used for all other stainless steel surgical instruments, thereby creating robust development in the global surgical stapling devices market. Though suturing is considered to be a gold standard in wound closures, stapling devices yield similar and comparable results involving less time to complete the process. Hence the use of stapling devices yields similar results to that of the suturing process with less time required to heal the wound.

Regional overview of the global surgical stapling devices market

The global surgical stapling devices market revenue is expected to increase at a CAGR of 7.6% over the forecast period. In terms of revenue, Powered Surgical Stapling Devices segment is projected to remain dominant among product types. This segment is expected to further gain traction, owing to increasing demand for advanced technology. The North America surgical stapling devices market accounted for the largest revenue share of a little more than 30% in 2015. Increasing geriatric population and growing demand for advanced medical technology in the U.S. present key growth opportunities for manufacturers of surgical stapling devices. The APEJ surgical stapling devices market is slated to register a CAGR of 8.6% over the forecast period due to rising healthcare awareness and demand for advanced medical technology.

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Remarkable development in the global surgical stapling devices market

One of the key players operating in the global surgical stapling devices market – Dextera Surgical Inc. collaborated with Intuitive Surgical in August 2016 for research and development of new robotic stapler products. The U.S. based Dextera Surgical Inc. is a core surgical stapling manufacturing company whose key product is surgical stapling devices. In September 2016, the company introduced micro cutter technology at the annual meeting of the German Society for Thoracic Surgery. This new technology will decrease the pain of cancer patients by reducing the invasiveness of lung surgery. The effectiveness of this technology does not stop here. Micro cutter technology has the potential to improve recovery time after lung surgery. In October 2016, just a month after introducing the micro cutter technology, Dextera Surgical Inc. signed an exclusive agreement with B.Braun Surgicals S.A. for the distribution of its micro cutters in Spain.

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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