The international Surgical Stapling Devices market is set to touch USD 8.5 billion by 2026, this industry is expected to grow with 8.4% CAGR during the coming years. The increasing applications of surgical stapling devices in the tissues and wound management is expected to boost the demand for these devices.
The demand for electrosurgical devices is expected to increase over forecast period due to the addition of new technologically advanced devices such as bio welding and cold plasma. These devices are used in sealing wounds without scars or stitches. Also the demand for surgical stapling devices are foreseen to be one of the most emerging medical devices as they are anticipated to emerge as an alternative to sealants and sutures.
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The increasing initiatives taken by governments of developed countries to promote the usage of these devices in medical operations as these are coming out to be most effective and efficient type of devices is expected to fuel the adoption of these devices. For example, such types of devices are approved for use in the Europe for using it in operations such as skin grafting.
Surgical stapling devices market is segmented on the basis of end use, product, type, and region. Based on end use the market is segmented in hospitals, and ambulatory centers. Considering the product the market is segmented into Powered and Manual. Based on type the market is bifurcated into Reusable and Disposable. On the basis of region the global surgical stapling devices market is bifurcated into Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.
The rise in surgeries at global level due to increasing health issues is expected to boost the demand for surgical stapling devices market. Moreover, surgeries such as laparoscopic needs accuracy within limited anatomical areas while execution and also these surgeries requires large workforce while execution. In such situations, the power stapling is becoming a mode of rescue for the healthcare service offering. The easy process of wound closure with the elimination of manual efforts is one of the key advantage of powered stapling devices.
The factors such as sedentary lifestyles, unhealthy diet patterns across different age groups is resulting into the increasing obese population. Also, stressed lifestyle and busy working schedules is disturbing the healthy balance of human beings in terms of diet and sleep pattern and ultimately resulting into rising health issues such as diabetes, high blood pressure, and others. Hence, such factors are simultaneously increasing cases of performing surgeries on patients. A surgery is becoming one of the most preferred option for cutting out excess fat and these surgeries are expected to boost the demand for surgical stapling devices over forecast period.
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Asia Pacific region is anticipated to register highest CAGR growth rate over forecast period due to the increasing expenditure by healthcare service providers on delivering an improved healthcare solutions to their patients. The rapid changes in lifestyle and increasing disposable incomes resulting into increasing diseased population and this is expected to create an immense scope for growth of this market in this region. Also, the increasing number of patients is leading to increase in the surgical operation and hence expected to drive the surgical stapling devices market.The Europe region is second largest market for surgical stapling devices following North America. European countries are also some of the early pioneer countries in terms of adopting a technically advanced equipment and this factor is boosting the growth of surgical stapling devices and hence driving market growth. The North America and Europe region are dominating the global surgical stapling devices and are likely to retain their position over forecast period. Being the quick adopter of new technologies in healthcare sector, the North America region is holding a lion’s share in the overall market in terms of revenue in 2017. The rise in bariatric surgeries, introduction of powered staples, and growing need for tissue and wound management is expected to fuel the demand for surgical stapling devices in this region over forecast period.
The companies catering to the global stapling devices market includes Zimmer Holdings, Inc., Conmed Corporation, Smith & Nephew plc, Cardica, Inc., Ethicon, Inc., Stryker Corporation, and Covidienplc (Medtronic plc), CareFusion Corporation, Alcon Laboratories Inc., and others. Currently, Ethicon, Inc., Stryker Corporation, and Covidienplc (Medtronic plc) are dominating the market in terms of revenue generation from the sale of surgical stapling devices at international level. These leading players present in the surgical stapling devices market are currently undergoing rapid product innovations and focusing on entering in untapped markets to fuel revenue pocketing process through the sale of surgical stapling devices.
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