Surgical Stapling Devices Market Is Expected to reach US$ 6.2 Bn by 2031 : Future Market Insights, Inc.
According to a recent market study by Future Market Insights (FMI), the global surgical stapling devices market was estimated to be worth US$ 2.8 billion in 2021 and is projected to grow to US$ 6.2 billion by 2031.
The global demand for surgical stapling devices is propelling along with the world’s rising geriatric population. Lesser time consumed by surgical stapling devices for closing wounds, and the accuracy & precision of these devices is favouring their adoption for treating wounds of aged patients.
With deployment of advanced technologies, medical practitioners will keep adopting specialised devices that facilitate specific surgical operations in medical procedures. Rising number of invasive surgeries has necessitated the need for improved devices for wound management. And, surgical staples have effectively replaced sutures for closing wounds during such procedures.
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Future Market Insights recently published its report on the global market for surgical stapling devices, the highlights from which indicate that rising number of laparoscopic surgeries performed across the globe have triggered the use of surgical stapling devices.
In the report, titled “Surgical Stapling Devices Market: Global Industry Analysis and Opportunity Assessment, 2022-2031,” North America has been identified as the largest market for surgical stapling devices. By the end of forecast period, more than US$ 1,000 Mn revenues will be solely attributed by North America’s surgical stapling devices market.
Advanced healthcare infrastructure in Western Europe has facilitated the region’s surgical stapling devices market, which will register a value CAGR of 7.9% through 2031. Although, fastest consumption of surgical stapling devices will be witnessed in the Asia-Pacific excluding Japan (APEJ) region. The APEJ surgical stapling devices market is expected to soar at the highest CAGR of 8.6%.
Leading Manufacturers of Surgical Stapling Devices:
- Medtronic plc
- Grena Ltd.
- Purple Surgical Holdings Limited
- Dextera Surgical Inc.
- Johnson & Johnson Services, Inc.
- 3M Company
- Meril Life Sciences Pvt. Ltd.
The report reveals that hospitals will remain the largest end-users of surgical stapling devices in the world – accounting for more than 60% of global revenues. Meanwhile, the demand for surgical stapling devices will also gain traction in ambulatory surgical centres.
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Key findings in the report indicate that powered surgical stapling devices worth US$ 1,182 Mn were sold globally in 2016, while the demand for manual surgical stapling products is anticipated to incur a downtrend in the years to come.
Throughout the forecast period, six out of ten surgical stapling devices sold in the world are likely to be disposable, while revenues from reusable surgical stapling products will be growing at a sluggish rate. Preference to curved surgical stapling is also on a rise, revenues from which are expected to soar impressively at 9% CAGR.
Dermatological surgeries will undoubtedly require greater number of surgical stapling devices. The report estimates that in 2016, nearly US$ 600 million revenues were amassed from the sales of surgical stapling devices in treatment of skin-related surgical wounds. The use of advanced surgical stapling devices is also expected to gain momentum for closing dissected or ruptured blood vessels during surgeries. Wounds situated in the patient’s digestive tract are also being treated by surgical stapling, and by the end of 2026, around US$ 665 million worth of devices will be consumed for such treatments.
We have segmented the global surgical stapling devices market into six sections. They are as follows:
- North America
- Latin America
- Western Europe
- Eastern Europe
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By End User
- Ambulatory Surgical Centres
By Stapling Type
By Usage Type
- Disposable Surgical Stapling Devices
- Reusable Surgical Stapling Devices
- Digestive Tract
- Blood Vessels
- Powered Surgical Stapling Devices
- Manual Surgical Stapling Devices
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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