Global Surgical Stapling Devices Market to

30 Apr

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Global Surgical Stapling Devices Market to Grow with a CAGR OF 5.41% Over the Period of 2020 to 2026

  • By admin

  • January, 1970

A surgical stapler is a specialized device that can be used in surgery or in any accidental injury instead of sutures to close skin wounds. A surgical stapler reduces time in the surgical process and is also less painful. The growing usage of surgical stapling devices in bariatric surgeries is one major factor driving the market globally. The prevalence of obesity is on the rise worldwide. Physicians around the world are implementing MI techniques for various weight-loss surgical procedures. With advances in the R&D of surgical robotics, its application in bariatric surgeries continues to evolve. According to the American Society for Metabolic and Bariatric Surgery (ASMBS) estimates, around 179,000 bariatric surgeries were performed in the Americas in 2013, of which sleeve gastrectomy accounted for 42.1%, Roux-en-Y gastric bypass shared 34.2%, gastric band 14.0%, and others with 9.7%. Many individuals with obesity prefer laparoscopic procedures such as liposuction for weight loss. Most of the surgical staplers are used in the closing of bariatric surgeries. Some products include ECHELON FLEX Powered Plus Stapler by Ethicon, MicroCutter 5/80 by Dextera Surgical, Endo GIA Ultra Universal Staplers, and Reloads by Medtronic. These surgical staplers are advanced with newer technologies and guide surgeons to complete the staple line in an optimal way.

 

Infinium Global Research’s recent report on the Global Surgical Stapling Devices Market (By Usage Type - Disposable, and Reusable; Product Type - Manual Surgical Stapling Devices, and Powered Surgical Stapling Devices; Applications - Abdominal Surgery, Obstetrics and Gynecological Surgeries, Cardiac and Thoracic Surgery, Orthopedic Surgery, and Others; End User - Hospitals, and ASCs): Global Industry Analysis, Trends, Size, Share and Forecasts up to 2026” provides a comprehensive outline of the factors responsible for the growth of the market.

 

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Hospitals Sector to Remain the Largest End Users of Surgical Stapling Devices Market

The hospitals segment is likely to dominate the Surgical Stapling Device Market due to the higher implementation of surgical devices in the healthcare facility provider. The hospital segment is projected to grow at a faster rate in the upcoming years due to higher adoption of the product in emerging countries. A major trend in hospitals suggests a shift towards clinical efficiency models, which comprise the advent of robotic technology in surgery. Robotic surgeries develop the consequence of minimally invasive surgeries. Furthermore, the hospital segment is poised to retain its dominance over the forecast period due to favorable reimbursement scenario for bariatric surgeries.

 

North America Region to Generate the Largest Revenue in the Global Surgical Stapling Devices Market

North America holds the largest market share (about 32.17% in 2019) in the global surgical stapling devices market by region. The market in North America is expected to experience high growth because of the increasing incidence of gastrointestinal disorders and chronic diseases such as colon cancer, rectal cancer, and severe abdominal diseases. Another reason for the high growth is the rapid shift from inpatient surgical therapy to outpatient surgical procedures with technologically advanced devices offered by leading vendors in the market. This will propel the demand for surgical procedures in the region. The U.S. generated the highest revenue by country in the North America surgical stapling devices market. From 2010 to 2018, the total number of surgeries in community hospitals in the US increased by around 19%. The US was the first country to witness a surgery performed with single-use surgical stapling devices. According to a CDC report, trauma injury accounts for 30% of deaths in the US. Every year trauma accounts for over 41 million emergency department visits and over 2.3 million hospital admissions in the region each year. Furthermore, APAC is the fastest-growing region in the global surgical stapling devices market due to the large patient pool requiring MI and other general surgeries. APAC presents significant opportunities for vendors to expand their position in the market.


New Product Innovations to Remain the Key Strategy of the Vendors in the Surgical Stapling Devices Market

Some of the significant vendors in the global surgical stapling devices market are The Dow Chemical Company, BASF, Ashland Global Specialty Chemicals Inc., Roquette, Evonik Industries, Archer Daniels Midland, and many others. Though the increasing demand for functional excipients will provide immense growth opportunities, the loss of patents and patent expiry will challenge the growth of the surgical stapling devices market participants. To make the most of the opportunities, market players should focus more on the growth prospects in the fast-growing segments, whereas sustaining their positions in the slow-growing segments. Furthermore, new product launches, business expansions, mergers & acquisitions, partnerships and collaborations, and joint ventures with educational universities are the crucial strategies adopted by most of the companies in the global surgical stapling devices market. The requirement of innovative functional excipients in the pharmaceutical industry will lead to innovations in the market throughout the projection period. Due to this strategy, leading players are continuously introducing numerous advanced excipients and modified categories of existing excipients in the market.

 

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Impact of the COVID 19 Pandemic on Global Surgical Stapling Devices Market

The effect of the COVID 19 pandemic on the surgical stapling devices market is expected to diminish the deals of the gadget as nations resort to consistent lockdown to control the spread of the infection. The worldwide pandemic has caused around 33% of the populace under lockdown, around 184 nations are affected by the COVID 19 outbreak. As of now, as the whole medical care framework is principally centered around treating this infection, elective medical procedures, unimportant clinical surgeries are postponed during the 2020 COVID-19 episode. This will prompt a fall in the number of surgeries directed in 2020, particularly in nations such as The U.S., the U.K., Italy, and Germany that are seriously hit by the COVID 19 pandemic and are the major revenue contributors to the surgical stapling devices market, which will bring about low interest for stapling gadgets for the underlying quarters of the monetary year 2020. Presently, the upstream endeavors of the supply chain have not completely continued their work as transportation restrictions still prevail. Aside from that, the apparent lack of required raw materials for the production of surgical stapling devices has decreased the production rate of the gadgets. For the time being, the crude material expense may ascend somewhat, and the yield and volume is expected to fall. Subsequently, the assembling will stay under tension until the transportation issues are solved. Nevertheless, over the post-pandemic time frame, the market is projected to experience stable growth as elective medical procedures will be among the underlying areas of medical services to bounce back immediately.