Market Overview and Growth Highlights 2019-2027
Surgical Staplers are used in the surgery in place of sutures in order to close skin wounds, connect or remove parts of body. Use of staplers over sutures helps in reducing the local inflammatory response, width of the wound and the time taken to close the wound. Surgical stapling is the technology used in medical wound closure and is often used as an alternative to traditional methods. The use of staplers not only impedes the closure procedure but also minimizes the procedural complexities such as bleeding and reducing hospitalization.
Rapid increase in the diseases such as cancer, obesity and cardiovascular diseases in North America region are expected to contribute to rise in the number of open and minimally invasive surgeries. Escalating research and development activities for innovation in the medical devices industry is projected to escalate the demand for surgical staplers. North America surgical staplers’ market is estimated to surpass USD 2 Billion by 2027 and is anticipated to record a CAGR of around 8% during the forecast period i.e. 2019-2027.
Rise in the demand for minimal invasive surgeries, increased adoption of surgical staplers over orthodox surgical sutures in developing and developed countries, and technological advancements in the medical devices market are expected to boost the market growth. Surgical staplers offer various advantages such as they are more economical, accurate, and faster than hand suturing and causes few infections than stiches. Currently, clips are used instead of staples as they prevent piercing of staples. Stapling are suspect to cause blood leakages from stapled organs.
Market Segmentation Synopsis
The market is segmented by usage into reusable and disposable out of which, the disposable segment is anticipated to have leading shares on account of ease of use, no chances of cross infection and no need for cleaning and sterilization. In the U.S., sedentary lifestyle has been observed which has led to increase in the obesity. This has intensified the demand for weight loss procedures thus leading to the growth of surgical staplers, for instance, approx. 113,000 bariatric surgeries are being performed in the U.S. every year. Moreover, Center for Disease Control and Prevention (CDC) has promoted the use of disposable devices. The sterilization of the medical devices has to be strictly followed by the medical centers in order to avoid infections.
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The market is segmented by technology into manual and powered devices out of which, the manual devices segment is anticipated to have leading shares owing to the availability of various manual stapler brands around the world.
By End Users
The market is segmented by end users into hospitals, clinics, ambulatory surgical centers and others out of which, the hospitals segment is anticipated to have leading shares owing to high number of surgical procedures being performed in hospitals of different specialties.
On the basis of geography, the market is segmented into U.S., Canada, Mexico and others, out of which the U.S. holds the major share in the market on account of increasing technological advancements, growing number of surgical procedures and minimally invasive surgeries. Recent developments in minimally invasive surgeries have led to the development of special devices for thoracoscopic and laparoscopic surgeries that includes the use of surgical staplers in the region.
Market Drivers and Challenges
It is estimated that the total population of North America aged above 65 is expected to rise from 16% in 2015 to 22% by 2030. The growth in the geriatric population with their age-related diseases is expected to boost the surgical staplers market. Moreover, healthcare expenditure has increased in the recent years which has resulted in the increased usage of superior and improved medical equipment and technologies. These factors are expected to propel the market growth.
According to the U.S. Food and Drug Administration (FDA), use of surgical staplers has resulted in 8,000 to 9,000 complications every year in the U.S. and many injuries or death due to the misfire or failure of staples and staplers that do not form properly. Furthermore, stringent procedures for all the medical devices to be approved by the FDA as this process may take many years for the companies to be a part of FDA. These factors are expected to hamper the growth of the market during the forecast period.
Some of the key market players include Medtronic, Ethicon. U.S., LLC., Cardica Inc., Smith and Nephew Plc., CONMED Corporation, Purple Surgical Inc., Welfare Medical Ltd, Reach Surgical., Grena Ltd., B.Braun Melsungen AG, Frankenman International Limited, Zimmer Biomet, Stryker, Meril Life Sciences Pvt. Ltd., Touchstone International Medical Science Co. Ltd.
Companies in the market are focusing towards improvising the technology and developing advanced surgical staplers in order to gain the competitive edge in the market.