Key Companies Covered in the 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.), Intuitive Surgical Inc. (U.S.), and other key market players.
The global Surgical Staplers Market size is projected to reach USD 4.78 billion by 2031 from USD 3.38 billion in 2022, at a CAGR of 7.2% during the forecast period. Kenneth Research has evaluated the current market opportunities in 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.”
Global 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, while reducing hospital stays.
The rapid increase in the occurrence of diseases such as obesity, cardiovascular problems, and cancer, are contributing to the rise in the number of surgeries of the open, as well as minimally invasive type. Also, the continuous introduction of new technologies and innovations in the medical devices market to provide faster recovery to patients, is raising the demand for surgical staplers. The global surgical staplers market is expected to grow at a CAGR of 8.1%, leading to global revenue of USD 5.66 billion by 2023.
The surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable surgical staplers. Manual surgical staplers dominated the market share in 2017 while the reusable surgical staplers are expected to grow at a higher CAGR in the coming years.
The surgical staplers market is further segmented based on its applications in – abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries. In 2017, the abdominal surgeries segment held the biggest share of the market while the orthopaedic surgeries segment is expected to register the highest growth in the coming years.
Key growth factors:
o A rise in the number of surgeries, ageing of global populations and, fast penetration of healthcare insurances are strong contributing factors to the growth of the surgical staplers market.
o In 2015, the older population was 8.5% of the total population. The rise in the geriatric population is leading to rise in age-related diseases which will increase the requirement for surgeries. Moreover, increase in non-communicable diseases like cardiac diseases, obesity and cancers are leading to a rise in its associated procedures. This is increasing the demand for surgical stapling devices.
o Insurance companies are eyeing regions like Asia-Pacific (India), and the Middle East & Africa, which have high out-of-pocket spending on healthcare – to provide coverage to the population under their health insurance schemes.
o Also, surgical stapling processes are faster and more accurate than suturing when appropriately performed, resulting in a lower chance of leakage, fewer wound infections as compared to sutures and quicker recovery time.
Threats and key players:
o Surgical staplers are more expensive than suturing needles. Thus, even though the surgical staplers are a more advanced procedure than suturing or stitching, its adoption in economically backward regions like sub-Saharan Africa, Latin America, etc., is hindered.
o Healthcare spending around the world is not even. The per capita spending on healthcare in some countries like South Africa is much lower than developed countries like the United States. This challenges the growth of the market.
o The presence of alternative wound closure methods in the market like traditional suturing, tissue glue, tape, and healing by secondary intention also hinder the growth of the market.
o The key players in the Surgical Staplers market are Ethicon (Johnson & Johnson), Covidien (Medtronic), 3M, B.Braun, Dextera Surgical, Intuitive Surgical, etc.
What’s covered in the report?
o Overview of the global surgical staplers market
o The current and forecasted market size data for the global surgical staplers market
o The current and forecasted market size data for the segments of the market – by product – powered and manual surgical staplers
o The current and forecasted market size data for the segments of the market – by type – global reusable and disposable surgical staplers market
o The current and forecasted market size data for the segments of the market – by applications of the surgical staplers in abdominal surgery, cardiac surgery, orthopedic surgery, general surgery and others surgery segments.
o Market trends in the surgical staplers market
o Market drivers and challenges in the surgical staplers market
o Step by step explanation of the process through which a surgical stapler reaches the end user from the manufacturers.
o Current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa) market size data for the surgical staplers market and its segments
o A brief analysis of patents of surgical staplers
o Analysis of company profiles of major players operating in the market
o Get a broad understanding of the global surgical staplers market and its segments
o Get region-specific drivers and challenges affecting the global surgical staplers market
o Determine the developed and new markets where surgical staplers are used
o Formulate a product market strategy – based on the position in the value chain to determine the optimal product/service placement
o Recognize significant 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 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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