Surgical Stapling Devices Market reflects a cumulative CAGR of around 8.4% over the forecast period (2022-2031).
[195 Pages Report] According to a recent study by Future Market Insights (FMI), the global surgical stapling devices market is expected to witness high growth during the forecast period. The market is expected to grow from US$ 2.8 Bn in 2021 to over US$ 6.2 Bn by 2031. This reflects a cumulative CAGR of around 8.4% over the forecast period (2022-2031).
Increasing number of surgeries performed, together with growing product innovation trends are the primary factors driving the surgical stapling devices market in the forecast period. The demand for this market is expected to surge due to an increase in bariatric surgeries and the application of advanced technologies to carry out endoscopic procedures.
Surgical stapling devices also known as surgical staplers, are surgical devices that are utilized for closure of skin cuts after a surgery is completed or for wound closure. The adoption of surgical stapling devices has observed a rise due to the benefits the surgical stapler provides compared to the traditional stitching and suturing methods.
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Technological advancements in the surgical and other related staples have primarily affected the adoption of these staplers among healthcare professionals. The key players are focusing on decreasing the diameter of the stapling devices to help in internal as well as external wound closure. In addition, varying angle and nob size of the stapling device enables the healthcare providers to carry out laparoscopic procedures with ease. These advantages are expected to boost the adoption of surgical stapling devices over traditional suturing devices.
Moreover, the launch of powered stapling device has helped to decrease the incision closure time after surgical procedure, resulting into lesser blood loss and other complications. These technological advantages provided by these devices are anticipated to fuel the market growth.
Key Takeaways from Surgical Stapling Devices Market Study
- Powered surgical stapling device is estimated to be the largest shareholder of this market with a revenue share of over 62% in 2022 by product type, expanding at a rapid rate owing to its benefits such as lesser blood loss and ease of wound closure over traditional suturing technique.
- Disposable surgical stapling devices, by usage type will expand at a rapid rate as this device decreases the rate of hospital acquired infections and is anticipated to hold a share of 67.9% in 2022.
- By stapling type, curved type of surgical stapling devices will gain traction due to its optimal performance and minimal trauma during the stapling and is estimated to be worth US$ 1.46 Bn in 2022.
- Skin is the most rapidly growing segment by indication with nearly 1/4th of the market share in 2021 by revenue share. This segment is expected to grow at the same rate during the forecast period owing to the number of road accident related injuries, increasing number of surgical procedures and subsequent demand for surgical staplers for wound closure purpose.
- On account of greater implementation of surgical devices in hospitals with growing adoption of robotic technology in surgery, hospitals showed the maximum growth among all end users with a market share of nearly 67% in 2021.
- North America held the largest share in 2021 due to rise in number of FDA approvals and growing number of surgeries. It is further expected for this region to follow the similar trend-line during the forecast period with over 30% of the market share.
“Surge in number of surgical procedures, increasing number of product launches, availability of powered devices and increasing adoption of stapling devices Is Expected to Drive the Demand of Surgical Stapling Devices over the Decade,” says the FMI Analyst
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Who is winning?The key market players covered by FMI include Johnson & Johnson Services, Inc., 3M Company, Dextera Surgical Inc., Purple Surgical Holdings Limited, Meril Life Sciences Pvt. Ltd. and Grena Ltd.
Some of the leading manufacturers of surgical stapling devices market are focusing on product launch, approvals, collaboration and partnership strategies for global expansion objectives, thereby, enhancing their market presence. Such as:
- In November 2021, Medtronic plc announced that the U.S. Food and Drug Administration (FDA) has granted 510(k) clearance for its PillCam Small Bowel 3 system for remote endoscopy procedures.
- In April 2021, Medtronic plc announced the U.S. Food and Drug Administration (FDA) granted de novo clearance for GI Genius intelligent endoscopy module in the United States.
Want more insights?Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global surgical stapling devices market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on surgical stapling devices segment based on product (powered surgical stapling device and manual surgical stapling device), usage (disposable surgical stapling device and reusable surgical stapling device), stapling type (straight, curved and circular) indication (skin, digestive tract, blood vessels, hernia, lung and others) and end user (hospitals, ambulatory surgical centers and others) across seven major regions.
Surgical Stapling Devices Market by CategoryBy Product:
- Powered Surgical Stapling Device
- Manual Surgical Stapling Device
- Disposable Surgical Stapling Device
- Reusable Surgical Stapling Device
By Stapling Type:
- Digestive Tract
- Blood Vessels
By End User:
- Ambulatory Surgical Centers
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- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa