Key Companies Covered in the India Surgical Staplers Market Research are Ethicon Inc. (U.S.) and Medtronic plc (Ireland). Apart from these other prominent players of the market includes CONMED Corporation (U.S.), Smith & Nephew (U.K.), Purple Surgical Inc. (U.K.) and other key market players.
The global Market size is projected to reach USD 8.07 billion by 2031 from USD 3.97 billion in 2022, at a CAGR of 8.3% during the forecast period. Kenneth Research has evaluated the current market opportunities in India Surgical Staplers Market in the healthcare industry for the forecast period 2022-2031 which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
whereas surgical staplers provide faster, more accurate, and efficient wound closure, which is leading to increased adoption of stapling devices over traditional suturing methods
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In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:
As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
India 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 India surgical staplers market is expected to grow at a high CAGR through the forecast period.
India is essentially a young and populous country. Rapid urbanization is leading to an increase in the number of diseases like obesity, cardiovascular problems, and cancers in India and is contributing to the rise in the number of surgeries of the open as well as minimally invasive type are raising the demand for surgical staplers.
Cardiovascular diseases is one of the leading causes of mortality in India. The estimated age-standardized CVD death rate of 272 per 1,00,000 population in India is higher than the global average of 235 per 1,00,000 population. Also, obesity in India has almost reached an epidemic stage with morbid obesity affecting 5% of the country’s population. Consumption of processed food has become widespread in India due to its continued integration with global food markets. It is estimated that the incidence of cancer in India is to grow by 25% by 2020 (according to the cancer registry released by the Indian Council of Medical Research). These factors are readily driving the surgical stapling market since they often necessitate undergoing surgeries.
India is a growing market for surgical staplers. Indian companies like Meril Life Sciences have come up with a range of surgical staplers for various types of surgeries. Manual skin staplers are widely used to close wounds post-surgery, and more people are opting for stapling for the management of haemorrhoids.
o The India 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 during the forecast period (2018-2023).
o The India 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 The launch of public healthcare programs, clubbed with increasing private wealth is expected to boost the country’s healthcare spending. The government in the National Health Policy 2017, has proposed to increase public health spending to 2.5% of the GDP, which is expected to boost the demand for advanced medical technologies and devices like surgical staplers.
o The Central Drugs Standard Control Organisation (CDCO) has recognised surgical staplers as a drug recently so that they can strictly regulate the import, manufacture and sale of this class of products as drugs under the Drugs and Cosmetics Rules. This will boost the development of the surgical staplers market.
Threats and key players:
o Affordability is an issue in India, and that is why hospitals are more focused on providing low-cost medical care. Thus, under such conditions, focus on advanced medical devices like surgical staplers remain low, mainly when hand suturing (stitching) is still a popular method for wound closure.
o Health insurance penetration is quite low in India. It has 3.2% insurance penetration, as compared to the U.S. at 7.8% as of 2015. This might therefore, act as a challenge to the growth of surgeries and adoption of surgical staplers.
o The key players in the India surgical staplers market are Ethicon (Johnson & Johnson), Covidien (Medtronic), 3M, B.Braun, Meril Lifesciences, Lotus Surgical, etc.
What’s covered in the report?
1. Overview of the India surgical staplers market
2. Analysis of the value chain of surgical staplers
3. Historical, current and forecasted market size data for the India surgical staplers market
4. Historical, current and forecasted market size data for the India surgical staplers market segmentation- by product – manual and powered surgical staplers market
5. Historical, current and forecasted market size data for India surgical staplers market segmentation- by type – disposable and reusable surgical staplers market
6. Historical, current and forecasted market size data for the India surgical staplers market segmentation- by application – abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries
7. Market trends in the India surgical staplers market
8. Qualitative analysis of the key drivers and challenges affecting the India surgical staplers market and its segmentations (by product- manual and powered, by type -reusable and disposable, by application- abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries)
9. Analysis of the competitive landscape and profiles of major players operating in the market
1. Get a broad understanding of the India surgical staplers market
2. Get an understanding of how the surgical staplers reach end users from the manufacturers
3. Get specific drivers and challenges for the surgical staplers market and its segmentations (by product- manual and powered, by type -reusable and disposable, by application- abdominal surgery, cardiac surgery, orthopedic surgery, general surgery and other surgeries)
4. Recognize major competitors’ business and market dynamics, and respond accordingly
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of India Surgical Staplers Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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