Surgical stapling is a technological advancement in medical wound closure methods and is often used as an alternative to traditional methods like suturing. The use of surgical staplers not only expedites the closure procedure but also minimises post procedural complexities like bleeding, while reducing hospital stays.
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The rapid increase in the occurrence of diseases such as obesity, cardiovascular problems, and cancer, are contributing to the rise in the number of surgeries of the open, as well as minimally invasive type. Also, the continuous introduction of new technologies and innovations in the medical devices market to provide faster recovery to patients, is raising the demand for surgical staplers. The global surgical staplers market is expected to grow at a CAGR of 8.1%, leading to global revenue of USD 5.66 billion by 2023.
The surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable surgical staplers. Manual surgical staplers dominated the market share in 2017 while the reusable surgical staplers are expected to grow at a higher CAGR in the coming years.
The surgical staplers market is further segmented based on its applications in – abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries. In 2017, the abdominal surgeries segment held the biggest share of the market while the orthopaedic surgeries segment is expected to register the highest growth in the coming years.
Key growth factors:
o A rise in the number of surgeries, ageing of global populations and, fast penetration of healthcare insurances are strong contributing factors to the growth of the surgical staplers market.
o In 2015, the older population was 8.5% of the total population. The rise in the geriatric population is leading to rise in age-related diseases which will increase the requirement for surgeries. Moreover, increase in non-communicable diseases like cardiac diseases, obesity and cancers are leading to a rise in its associated procedures. This is increasing the demand for surgical stapling devices.
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o Insurance companies are eyeing regions like Asia-Pacific (India), and the Middle East & Africa, which have high out-of-pocket spending on healthcare – to provide coverage to the population under their health insurance schemes.
o Also, surgical stapling processes are faster and more accurate than suturing when appropriately performed, resulting in a lower chance of leakage, fewer wound infections as compared to sutures and quicker recovery time.
Threats and key players:
o Surgical staplers are more expensive than suturing needles. Thus, even though the surgical staplers are a more advanced procedure than suturing or stitching, its adoption in economically backward regions like sub-Saharan Africa, Latin America, etc., is hindered.
o Healthcare spending around the world is not even. The per capita spending on healthcare in some countries like South Africa is much lower than developed countries like the United States. This challenges the growth of the market.
o The presence of alternative wound closure methods in the market like traditional suturing, tissue glue, tape, and healing by secondary intention also hinder the growth of the market.
o The key players in the Surgical Staplers market are Ethicon (Johnson & Johnson), Covidien (Medtronic), 3M, B.Braun, Dextera Surgical, Intuitive Surgical, etc.
What’s covered in the report?
o Overview of the global surgical staplers market
o The current and forecasted market size data for the global surgical staplers market
o The current and forecasted market size data for the segments of the market – by product – powered and manual surgical staplers
o The current and forecasted market size data for the segments of the market – by type – global reusable and disposable surgical staplers market
o The current and forecasted market size data for the segments of the market – by applications of the surgical staplers in abdominal surgery, cardiac surgery, orthopedic surgery, general surgery and others surgery segments.
o Market trends in the surgical staplers market
o Market drivers and challenges in the surgical staplers market
o Step by step explanation of the process through which a surgical stapler reaches the end user from the manufacturers.
o Current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa) market size data for the surgical staplers market and its segments
o A brief analysis of patents of surgical staplers
o Analysis of company profiles of major players operating in the market
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