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$6.1 bn by 2024| Surgical Staplers Market to Witness Substantial Growth

Author : Rahul Sankrityayan | Published Date : 2019-03-18 

The Surgical Stapler Market is set to exceed USD 6.1 billion by 2024; according to a new research study published by Global Market Insights, Inc. Rise in number of surgical procedures in the developed regions of North America will enhance the growth of surgical Staplers market. According to the recent data from National Center for Health Statistics, around 50 million surgical procedures are conducted in U.S. annually, that majorly include appendectomy, cardiovascular and general surgeries. The increasing effective use of surgical Staplers in several different surgeries has resulted in increased number of surgical procedures that are conducted without much post-surgical complications.

Technological advancements in surgical Staplers has resulted in manufacturing of different surgical devices and other instruments that are effectively and safely used in surgical procedures. The progression of mechanical sutures by use of surgical Staplers has led to market growth by minimizing the earlier surgical complications. Currently, surgical Staplers are repeatedly used several times in chronic surgical procedures such as complex laparoscopic operations, digestive reconstructions and extensive resections.
 
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Surgical staplers market stands as one of the major recipients of the ongoing technological interventions and increasing demand for minimally invasive approach in the healthcare fraternity. The industry in the year 2017 generated a revenue close to USD 3.7 billion, with the strategic landscape characterized by a plethora of product innovations and extensive R&D initiatives. The ratio of surgical procedures has dramatically increased worldwide, with approximately 2/3rd of hospitalized cases resulting in some sort of surgery. Geographically, this ratio is led by North America, primarily by the U.S. According to National Center for Health Sciences, more than 50 million surgical procedures are conducted in the United States annually, which overtly makes it a viable investment avenue for the surgical staplers industry growth.

As per a report by Global Market Insights, Inc. U.S. surgical staplers market generated a revenue of USD 1439.4 million in 2017. A sophisticated healthcare infrastructure and the surging prevalence of gynecological surgery are cited as the two major factors fueling the regional growth. As per reliable estimates, out of the 4 million babies born every year in the United States, 33% of them are born through caesarean delivery approach. In fact, the ratio of caesarean surgery in child birth has seen quite an upsurge globally as well, owing to which gynaecology has emerged as one of the pivotal application arenas for surgical staplers market. In terms of its contribution to the overall surgical staplers industry, the gynaecology segment is estimated to register a CAGR of 7.7% over 2018-2024.

Bariatric surgery is yet another profound opportunistic avenue for surgical staplers market, with the segment having contributed USD 1139.4 million to the overall share in 2017. As per the statistics by WHO, approximately 13% of the world population was obese in the year 2014. In the U.S. alone, the total number of bariatric surgical procedures was close to 300,000 in 2011.

U.S. dominated North American surgical Staplers market with the revenue of 1,439.4 million in 2017. Ongoing technological advancements leading to manufacturing of superior quality surgical Staplers coupled with increase in number of surgical procedures conducted in U.S. will result in higher revenue share over the forecast period. Also, availability of sophisticated infrastructure required for carrying out complex surgical procedures will drive the regional growth.

Germany dominated the European surgical stapler with a total value of USD 276.7 million in 2017.Germany is the most populated country in the Europe region with around 82 million inhabitants, of that 22.2 million were aged 60 and over. Rise in number of chronic diseases in adult population and technological advancements in the country will favor the market growth in the upcoming years.

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Prominent industry players include include 3M, B. Braun Melsungen AG, Conmed Corporation, Ethicon Inc., Frankenman International, Grena, Integra Life Sciences, Intuitive Surgical, Medtronic PLC, Meril Life Sciences, Purple Surgical, Reach Surgical, Smith & Nephew PLC and Welfare Medical. The industry players focus on strategies such as merger and acquisition, new product launch and geographical expansion in order to enhance their market presence across the world.

Surgical Staplers Market by Product

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Surgical Stapler Market by Technology

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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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