- Technology advancement along with new launch of powered staplers will drive the overall market growth.
- Increasing number of surgical procedures along with chronic and lifestyle diseases will upsurge the overall demand for surgical staplers.
- Increased funding by private organizations and government for better treatment options, new product launches, and technology expansion will drive the market growth globally.
The latest market report published by Credence Research, Inc., the Surgical Stapler market was valued at $2,847.2 Mn in 2018, expected to grow at a CAGR of 6.8% during the forecast period from 2019 to 2027.
The global surgical stapler market is increasing proficiently from 2019 to 2027 accredited to an increase in surgical procedures for laparoscopy, orthopedics, open surgery, wound, and cosmetic surgeries. Increasing U.S FDA approvals for new stapling devices with upgraded fire technology will enhance the market growth on a global scale. Powered staplers will gain traction slowly in the developing economies due to its advantage over traditional usage.
Circular staplers are preferred more for end-to-end procedures. Top-quality material technology such as titanium and other bio-absorbable materials will further enhance the overall demand due to its reduced immune reactions, faster accuracy, durability and design along with higher patient safety. Increasing product launches, technology expansion and product development for different procedure types and non-invasive surgeries will contribute a significant market share internationally.
Increasing population along with hospital admissions for adult patients for pelvic, abdominal, cardiac and general surgery will further spur revenue growth globally. Enhanced regulatory guidelines in the manufacturing of surgical medical devices will also drive market growth in the Europe and the U.S. According to CDC, more than 1.2. Million cesarean deliveries are performed in the U.S. alone. Moreover, more than 4.5 million laparoscopic procedures are performed every year in the U.S. alone; on a global scale, estimated to be more than 15 million. Additionally, around 600,000 hysterectomies (most common gynecologic surgical procedures) are performed annually in the U.S. alone.
The North America region generated maximum revenue globally, attributed to increasing number of surgical procedures mainly in the geriatric segment, and domicile of key manufacturers in the U.S. market such as B Braun, Baxter, Medtronic, Ethicon, Inc., Smith and Nephew and many others. Major factors accountable for driving the growth are technology expansion, increasing preference for single-use staplers, new product approvals, presence of top manufacturers in the U.S. and increased product expansion in the emerging nations globally.
Key Market Movements
Globally, the Surgical Stapler is growing at a CAGR of 6.8% for the period from 2019 to 2027.
Increased product expansion in the emerging nations along with huge hospital admissions for numerous surgical procedures will drive market growth in the Asia Pacific region. Developments in healthcare infrastructure, a rise medical tourism and medical expenditure will further spur revenue growth.
Other factors like increased funding by private organizations and government for better treatment options, new product launches, and technology expansion will drive the market growth globally.
Medtronic Inc., Smith & Nephew plc, Covidien plc, Ethicon Endo-Surgery Inc., Zimmer Holdings Inc., B. Braun Melsungen AG, Stryker Corporation, Conmed Corporation, Meril Life sciences, Frankenman International, CareFusion Corporation, Purple Surgical, Reach Surgical, Victor Medical Instruments, Surkon Medical, Codman & Shurtleff (Codman), Integra LifeSciences Corporation, Welfare Medical Ltd., Meril Life Science Pvt. Ltd., and CryoLife Inc.