Key Companies Covered in the 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 Market size is projected to reach USD 7.08 billion by 2031 from USD 2.08 billion in 2022, at a CAGR of 7.62% during the forecast period. Kenneth Research has evaluated the current market opportunities in North 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.”
North 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 rapid increase in the number of diseases like obesity, cardiovascular problems, and cancer, in North America are contributing to the rise in the number of surgeries of open as well as minimally invasive type. Ongoing research and development of new technologies and innovations in the medical devices market of the region, are raising the demand for surgical staplers. The North America surgical staplers market is expected to grow at a CAGR of 7.9% leading to a revenue of USD 2.37 Bn by 2023.
United States is likely to be witnessing an increasing demand for branded, generic drugs and medical devices from 2016 onwards as the number of insured individuals continues to grow under ACA and Medicaid. Between September 2013 and February 2015, 16.9 million Americans became newly insured. Under such coverages, people are expected to opt for surgeries, which without insurances will be expensive. This is expected to raise the demand for surgical staplers in the region.
Reusable surgical staplers are gaining traction in the region from the fact that regulatory bodies like the United States Environmental Protection Agency, Occupational Safety and Health Administration (OSHA), U.S. Food and Drug Administration (FDA), and others have stringent guidelines on monitoring and regulating the amount of medical waste that is created. Reusable surgical staplers are expected to be increasingly preferred by the hospitals in the region as it can be categorised under the green products“ that have a reduced impact on the environment compared to single-use disposable surgical stapling devices.
The North America surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable Surgical Staplers. Powered surgical staplers dominated the market share in 2017 and the reusable surgical is expected to grow at a higher CAGR during the forecast period (2018-2023).
The North 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 The percentage of the total population of North America aged 65 and above will rise from 15% in 2015 to 21% by 2030. The growing population of the elderly, coupled with their specific age-related diseases, are expected to drive the surgical staplers market.
o Public healthcare expenditure as a percentage of GDP has increased manifold in the U.S. in the last two decades (from 5.9% in 1995 to 8.5% in 2014) resulting in increased use of improved and superior medical equipment and technologies. Further growth is expected to raise the demands for advanced medical instruments like surgical staplers.
Threats and key players:
o According to the U.S. Food and Drug Administration, the use of surgical staplers results in 8,000 to 9,000 reported complications every year in the United States, with many resulting in injuries or death due to failure or misfire of staples, and due to staples that do not form properly. This is a major challenge for the adoption of surgical staplers in the region.
o The stringent procedure for all medical devices to get approved by the US Food and Drug Administration (FDA), to be made available in the U.S. market is a hindrance to the growth of the market as this process can take years for the companies to be a part of an FDA trial for their equipment.
o The key players in the North America Surgical Staplers market are Ethicon (Johnson & Johnson), Covidien (Medtronic), 3M, B.Braun, Dextera Surgical, Intuitive Surgical, etc.
What’s covered in the report?
1. Overview of the North America surgical staplers market
2. Analysis of the value chain of surgical staplers
3. Historical, current and forecasted market size data for the North America surgical staplers market
4. Historical, current and forecasted market size data for the North America surgical staplers market segmentation- by product – manual and powered surgical staplers market
5. Historical, current and forecasted market size data for the North America surgical staplers market segmentation- by type – disposable and reusable surgical staplers market
6. Historical, current and forecasted market size data for the North 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 (U.S. and Canada) 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 the North America surgical staplers market
9. Qualitative analysis of the key drivers and challenges affecting the North 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 North 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 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)
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 North 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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