(PharmaNewsWire.Com, February 14, 2019 ) China Surgical Staplers Market Surgical stapling is a technological advancement in medical wound closure methods and is often used as an alternative to traditional methods like suturing. The China surgical staplers market is expected to grow at a high CAGR through the forecast period. Rise in consumer income, ageing of the overall Chinese population, and favorable government initiatives are fuelling China's healthcare market which in turn is expected to propel the surgical staplers market in the country. The Chinese government policy is focused on improving health care accessibility and affordability to the general public. Also, the government in China is keen on adopting new and advanced technologies in the healthcare landscape.
Given the healthcare sector's favourable growth prospects, foreign medical companies like Boston Scientific signed a strategic alliance with Frankenman Medical Equipment Company in China, which is a local market leader dealing in surgical staplers. In addition to partnerships, favourable regulatory policies are helping Chinese companies grow faster and develop medical devices at a cheaper rate than the U.S. and making China one of the surgical staplers' patents producing countries. o The China surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable surgical staplers. The reusable surgical stapler segment is expected to grow at a higher CAGR in the forecast period (2018-2023). o The China surgical staplers market is further segmented based on its applications - abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries.
Key growth factors:
o China's medical device market is one of the fastest growing markets with double-digit growth rates for over a decade. Also, healthcare expenditure in China is expected to increase to between 6.5% and 7% by 2020. These are expected to increase the adoption of advanced medical devices like surgical staplers in the market. o China is launching trials and issuing policies to push the growth of commercial health insurance, which previously had a minimal role in the healthcare system. The coming years are expected to have reimbursement schemes on offer with public health insurance as the pillar and private insurance as a meaningful supplement. This would allow people of the country to opt for complicated and expensive surgeries which, without health insurances, would not have been possible, and therefore boosts the growth of the surgical staplers market.
Research Report Hub Research Report Hub offers wide-ranging collection of market research reports under virtually every market verticals and sub-categories from different publishers across the globe. We offer reliable market intelligence reports and report customization services to better understand current and projected market scenarios. It also gives a clearer depiction of industries and facilitates to simply perceive competitor activity in the respective industry. Our services are also geared towards helping organizations procure market reports at the finest price. About US
Research Report Hub Sector 04, Plot 101, Sant Nagar, Moshi PCNDTA, Pune, 412105 Maharashtra, India
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including: