Latin America Surgical Staplers Market to reach USD 0.35 billion by 2031 from USD 0.22 Bn, at a CAGR of 6.93% during the forecast period
Key Companies Covered in the Latin America 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 and other key market players.
The global Latin America Surgical Staplers Market size is projected to reach USD 0.35 billion by 2031 from USD 0.22 Bn, at a CAGR of 6.93% during the forecast period. Kenneth Research has evaluated the current market opportunities in Latin America 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.”
Latin America 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 use of surgical staplers not only expedites the closure procedure but also minimises post procedural complexities like bleeding, and reduces hospital stays, etc. The Latin America surgical staplers market is expected to grow at a CAGR of 6.70%, leading to a revenue of USD 0.21 Bn by 2023.
Most countries in Latin America are experiencing epidemiologic and nutrition transitions. The epidemiologic transition is characterised by a shift from highly infectious diseases and mortality to increase of non-communicable diseases. The nutrition transition is due to a shift from high prevalence of malnutrition to predominance of diet-related non-communicable diseases like obesity. Obesity increases the probability of having heart problems due to rise in cholesterol level, etc., thereby raising the possibility of requiring cardiac surgeries as well as bariatric surgeries for stomach fat reduction. The ageing of Mexico’s population and an increase in chronic diseases such as cancer and diabetes (at 56 percent and 219 percent, respectively, between 1980 and 2011), are driving up demand for surgeries in Latin America. Also, there is a surge in health insurance penetration in the region of late. In 2016, AON announced a deal to acquire Admix to build its position in the growing private health insurance market in Latin America. All these factors are driving the growth of the surgical staplers market in the region.
The Latin America surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable surgical staplers. The manual surgical staplers dominated the market share in 2017 while the reusable surgical is expected to grow at a higher CAGR during the forecast period (2018-2023).
The Latin America surgical staplers market is further segmented based on its applications – abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries. In 2017, the general surgeries segment held the biggest share of the market.
Key growth factors:
o With increased globalisation, life expectancy is higher in Latin America, and with that, the burden of non-communicable diseases like hypertension, diabetes, cancer, and obesity has increased as well. Also, ageing of the overall population in Latin America will give rise to age-related problems like weak bones, heart problems, etc. These factors will lead to an increase in the number of surgeries in the region.
o Additionally, from 2017, the region was expected to have resume economic growth after a period of recession. Per capita income is expected to grow at a modest growth rate. This is expected to aid the growth of the healthcare sector and boost the adoption of surgical staplers.
Threats and key players:
o Latin American countries maintain high tariffs on some medical products, creating complications for medical devices exporters from other regions. This might challenge the import and use of surgical staplers manufactured by big U.S. companies like Ethicon.
o Due to the country’s high unemployment rate, many beneficiaries opted out of the private health insurance sector in between 2014 to 2016 to eliminate the payment of premium. Also, to cut down on expenses, companies in Brazil are continuously replacing their employees’ health insurance plans with cheaper coverage plans. This might lead people to opt for less number of surgeries, and that would hinder the adoption surgical staplers.
o Some of the key players in the Latin America Surgical Staplers market are Covidien (Medtronic), Ethicon, Grena, B.Braun, Dextera Surgical, Intuitive Surgical, etc.
What’s covered in the report?
1. Overview of the Latin America surgical staplers market
2. Analysis of the value chain of surgical staplers
3. Historical, current and forecasted market size data for the Latin America surgical staplers market
4. Historical, current and forecasted market size data for Latin America surgical staplers market segmentation- by product – manual and powered Surgical Staplers market
5. Historical, current and forecasted market size data for Latin America surgical staplers market segmentation- by type – disposable and reusable surgical staplers market
6. Historical, current and forecasted market size data for Latin America surgical staplers market segmentation- by application – abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries
7. Historical, current and forecasted market size data for countries (Brazil, Argentina and Rest of Latin America) market size data for the surgical staplers market segmentations (by product- manual and powered, by type -reusable and disposable, by application- abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries)
8. Market trends in Latin America surgical staplers market
9. Qualitative analysis of the key drivers and challenges affecting the Latin America 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)
10. Analysis of the competitive landscape and profiles of major players operating in the market
1. Get a broad understanding of the Latin America surgical staplers market
2. Get an understanding of how the surgical staplers reach the end users from the manufacturers
3. Get country-specific market size and observations for the 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)
4. Get specific drivers and challenges for 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)
5. 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 Latin America 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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