Surgical staplers market is forecasted to attain $5.4 billion value by 2023, P&S Market Research.
The growth in the market is led by increasing surgical procedures, introduction of technologically advanced surgical staplers, growing number of bariatric and other weight loss surgeries, and increasing preference for surgical staplers over traditional sutures.
Insights on market segments
The two types of surgical staplers used in the industry are manual and powered where the manual staplers held the larger share in the surgical staplers market and it is expected to grow at CAGR of 7.2% during the forecast period. Manual staplers are used more as compared to powered staplers as these can be used at a faster pace, are more economical, and cause fewer infections as compared to the conventional stitches. Surgical staplers are either reusable or disposable, and disposable staplers held the larger share in the market as it reduces the chances of infections and the complication associated with surgical procedures.
As per the findings of the research, staplers are used in general, cardiac and thoracic, orthopedic, abdominal and pelvic, and various other surgeries. Amongst all the surgeries, general surgeries were the largest application area in this market. Due to increasing aesthetic surgeries, breast surgeries, surgical oncology, and pediatric surgery procedures, the surgical staplers market size for general surgeries is predicted to attain a value of $1.8 billion by 2023.
Access Report Description with Detailed TOC on “Surgical Staplers Market by Product (Manual Surgical Stapler, Powered Surgical Stapler), by Type (Disposable Surgical Stapler, Reusable Surgical Stapler), by End User (Hospitals, Ambulatory Surgical Center & Clinics), by Application (General Surgery, Abdominal & Pelvic Surgery, Cardiac & Thoracic Surgery, Orthopedic Surgery), by Geography (U.S., Canada, U.K., France, Germany, Japan, China, India, Brazil, Mexico) - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023” at: https://www.psmarketresearch.com/market-analysis/surgical-staplers-market
The key end users in the surgical staplers market include hospitals, and ambulatory surgical centers and clinics. Hospital was the larger consumer in surgical staplers market and the market is also expected to register faster growth in hospitals, due to the high number of surgical procedures performed for the treatment and management of diseases.
Asia–Pacific stands as the fastest growing market
Asia–Pacific is the fastest growing surgical staplers market due to increasing aging population, increasing prevalence of diabetes, booming medical tourism, and rising burn cases and road accidents in the region. According to the World Health Organization (WHO) publication in 2014, nearly 1 million people suffer from moderate to severe burns every year in India. Moreover, road accidents are also a leading cause of formation of severe wounds, which require these staplers for early recovery. According to the Global Status Report on Road Safety by the WHO, in 2015, approximately 261,367 fatal accident cases were reported in China. Similarly, around 207,551 fatal accident cases were reported in India in the same year.
Key players in the market are launching new and innovative products to gain a larger share
Globally, the key providers in the surgical staplers industry are launching new products to gain a larger market share. For instance, in February 2017, Medtronic plc launched its Signia Stapling System. An addition to the Medtronic’s minimally invasive surgeries (MIS) portfolio, the Signia system delivers real-time feedback and automated responses to the real-time data. It also includes Adaptive Firing technology that measures the tissue thickness and regulates the speed of stapler accordingly, allowing a consistent and even application of staplers.
Other key players operating in the surgical staplers market include Ethicon, Inc., Dextera Surgical Inc., Frankenman International Ltd., Intuitive Surgical, Inc., Ethicon Inc., Smith & Nephew Plc, Becton, Dickinson and Company, B. Braun Melsungen AG, Zimmer Biomet Holdings, Inc., Meril Life Science Pvt. Ltd., and Conmed Corporation.
GLOBAL SURGICAL STAPLERS MARKET SEGMENTATION
By End User