Surgical Stapling Devices Market Expected to Garner around US$ 4,363.6 Million by 2027 | CAGR: 7.8%: Coherent Market Insights
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The Global Surgical Stapling Devices Market, by product type (Manual, Powered), by Usage (Disposable, Reusable), by application (Cardiothoracic Surgery, Pelvic & Abdominal Surgery, Orthopedic Surgery and Other Surgeries), by end user (Hospital, Ambulatory Surgical Centers) and by region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa), was valued at US$ 2,399.0 Mn in 2019 and is projected to register a CAGR of 7.8% over the forecast period (2020-2027).
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The global Surgical Stapling Devices Market is poised to witness tremendous growth over the projected timeline, supported by the rising innovations by manufacturers in this market and growing preference for minimally invasive surgeries among doctors and patients worldwide. Increasing product innovations is another significant factor anticipated to drive the global market growth in the forthcoming years.
The leading market players are actively engaged in product innovations, with the intent to expand their global market share. For instance, Dextera Surgical Inc. launched the MicroCutter 5/80 in 2016, which is the world’s first and only 5mm surgical stapler that articulates to 80 degrees in each direction. In 2017, Ethicon (Johnson & Johnson), a leading global provider of medical devices, received 510(k) clearance from the U.S. FDA for Echelon Circular Powered Stapler for use in circular anastomosis. The circular anastomosis is a critical step in cancer surgery and has high complication risk including bleeding. Moreover, the introduction of new devices and constantly occuring technical improvements in the existing devices are expected to further bolster the growth of the global Surgical Stapling Devices Market.
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The leading players operating in the global Surgical Stapling Devices Market include Medtronic plc, Johnson & Johnson, 3M Company, Aesculap, Inc. (B. Braun), SeCQure Surgical Corporation, Purple Surgical Holdings Limited, Meril Life Sciences Pvt. Ltd., and Grena Ltd.
These companies have been focusing on strategic collaborations and acquisitions for the development and expansion of product portfolio to fuel their business growth. For instance, in 2016 Intuitive Surgical signed a development contract with Dextera Surgical to develop a cartridge and surgical stapler for its da Vinci robotic surgical system. In addition, the market players are working on the development and expansion of various novel minimally invasive surgery technologies. In 2017, Medtronic launched Signia Stapling System. The addition of the Signia system to the company’s product portfolio, provides healthcare professionals with immediate feedback and automated responses to the real-time information.
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Key Takeaways of the Surgical Stapling Devices Market:
- Among the various product types, the manual staples segment holds the foremost position in the global Surgical Stapling Devices Market, owing to the low cost of these products.
- Among usage types, the disposable staplers segment dominates the global Surgical Stapling Devices Market, due to the increasing preference by surgeons and patients who are sensitive to nickel or metal allergies.
- In terms of application, the pelvic & abdominal surgery segment leads the global Surgical Stapling Devices Market, owing to the increasing number of bariatric surgeries performed with rising obesity prevalence worldwide
- Th hospitals end-use segment holds the foremost position in the global market, owing to the increasing patient volume undergoing complex surgeries and easy availability of multiple specialty treatments at one place.
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