(PharmaNewsWire.Com, April 17, 2020 ) The global surgical staplers market is expected to reach USD 4.78 Billion by 2022 from USD 3.38 Billion in 2017, at a CAGR of 7.2 %.
The growth of the market is attributed to the increasing number of surgical procedures across the globe, growing preference for minimally invasive surgeries, technological advancements, and increasing preference for surgical staplers over sutures. The growing popularity of cosmetic surgeries, medical tourism in developing economies, increasing healthcare demand in low- and middle-income countries is expected to offer lucrative growth opportunities for players in the surgical staplers market.
Manual surgical staplers to dominate the market in 2017
Based on product, the market is segmented into manual surgical stapler and powered surgical stapler. The manual surgical stapler segment is expected to account for the largest share of the surgical stapler market in 2017. Manual surgical staplers are faster, more economical, and cause fewer infections than stitches. It also causes low tissue reactivity, which helps in preventing SSIs as compared to conventional methods available for wound closure such as sutures.
On the basis of end user, hospitals are to grow at the highest CAGR within the forecast period
By end user, the market is segmented into hospitals and ambulatory surgical centers (ASCs) & clinics. In 2017, this segment is also expected to register the highest CAGR during the forecast period. Rapidly increasing patient volume, the subsequent increase in the number of complex surgeries, easy accessibility to multiple specialty treatments in a single facility, and favorable reimbursements is expected to drive the demand for surgical staplers among hospitals.
North America to dominate the market followed by Europe
By region, the market is segmented into North America, Europe, Asia-Pacific, and RoW. In 2017, North America accounted for the largest share of the market; Asia-Pacific is expected to register the highest CAGR during the forecasted period, followed by Europe. The high growth of the Asia-Pacific market is attributed to the factors such as increasing per capita income levels (and consequent increase in purchasing power), growing healthcare awareness, rising number of private sector hospitals, development of primary healthcare infrastructure, and growing medical tourism in this region. Europe is the second largest growing market; factors such as growing number of surgical procedures and increasing preference for bariatric and cosmetic surgeries are expected to fuel the market growth in this region.
The surgical staplers market is duopolistic in nature with two major players Ethicon Inc. (U.S.) and Medtronic plc (Ireland). CONMED Corporation (U.S.), Smith & Nephew (U.K.), Purple Surgical Inc. (U.K.), Intuitive Surgical Inc. (U.S.), Welfare Medical Ltd. (U.K.), Reach surgical Inc. (China), Meril Life Science Pvt. Ltd. (India), Grena Ltd. (U.K.), B. Braun Melsungen AG (Germany), Dextera Surgical Inc. (U.S.), Frankenman International (China), and Becton, Dickinson and Company (U.S.) are some of the other players operating in the global surgical staplers market.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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:
