Surgical Stapling Devices Market
Number of pages: 100 | Report Format: PDF | Published date: October 11, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market size value in 2021 |
US$ 3,978.6 million |
|
Revenue forecast in 2030 |
US$ 8,222.31 million |
|
Growth Rate |
CAGR of 8.40% from 2022 to 2030 |
|
Base year for estimation |
2021 |
|
Forecast period |
2022-2030 |
|
Segments covered |
product, type, end user, and region. |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global surgical stapling devices market was pegged at US$ 3,978.6 million in 2021 and is expected to witness a CAGR of 8.40% during the forecast period.
Market Fundamentals
Surgical stapling devices or surgical staplers are medical devices used in complex surgery for wound or incision closure. These surgical staples can decrease the time needed to complete the surgery and cause less pain. Some common materials used in surgical staples are titanium, plastic, and polylactide-polyglycolide copolymer. Staples are used according to patient preference and type of incisions. For instance, a polylactide-polyglycolide copolymer-based pin is used in plastic surgeries to reduce the appearance of scars.
[8749534]
Market Dynamics
As more surgical operations are performed, there is a rising demand for surgical stapling devices. The benefits of using fastening devices for tissue reaction lowered infection risk. Full wound closure is anticipated to increase demand for surgical stapling instruments. Rising technological advancements resulting in the launch of new products are also increasing market revenue. However, some difficulties, such as device reclassification, making the regulatory clearance procedure more complex, and adverse events and development concerns, are projected to hamper surgical stapling devices market expansion.
Market Ecosystem
The global surgical stapling devices market has been analyzed from four perspectives: product, type, end user, and region.
Surgical Stapling Market by product
[34329843]
According to the product, the global surgical stapling devices market for surgical stapling devices is bifurcated into powered and manual. The powered segment holds the majority of the market share. The growth is owing to the increased availability of powered machines and the high preference by surgeons. Moreover, one of the best advantages offered by powered stapling devices is smooth wound closure without manual force. The manual segment is also expected to show high growth in the projected period as manual stapling products are cost-effective.
Surgical Stapling Devices Market by Type
The global surgical stapling devices market is segmented by type into reusable and disposable. The disposable segment holds the majority share. The growth of disposable surgical stapling devices is due to their high demand in the healthcare industry for wound closure. Furthermore, disposable type surgical stapling devices are top-rated in hospitals and ambulatory surgical centers as they reduce the risk of contamination and are budget-friendly. The CDC (Centers for Disease Control) supports the expansion of disposable type by providing practical guidelines to ensure the protocols are strictly followed.
Surgical Stapling Devices Market by End-user
According to end-users, the global surgical stapling devices market is segmented into hospitals and ambulatory surgical centers. The hospital segment has dominated the market. This growth is observed due to the high hospital demand for surgical stapling devices. The hospital segment is also expected to grow in the forecast period as such devices offer many advantages, making surgical procedures quite convenient.
Surgical Stapling Devices Market by Region
Regionally, the global surgical stapling devices market has been segmented into North America, Europe, Asia Pacific, and the rest of the world. North America is the largest regional market for surgical stapling devices. It is expected to maintain its dominance during the projected period. These areas are primarily fueled by the early adoption of significant product developments and technologically advanced equipment. The Asia Pacific is a significantly smaller market than the aforementioned important markets. Yet, the region's development potential is expected to be extraordinary during the forecast period. The rest of the world section has enormous potential for expansion as well. The patient pool in Asia and the rest of the world is high, resulting in a rise in surgical operations and a surge in demand for surgical stapling devices. Furthermore, increased knowledge of the availability and usage of modern surgical technology, as well as rising healthcare spending in numerous developing nations, are also expected to positively impact the region.
Competitive Landscape
Some of the prominent players operating in the global surgical stapling devices Market are
The effective management of infections by utilizing these wraps is a significant element for the worldwide Surgical Staplers Devices market growth in terms of revenue. Other important factors expected to drive revenue growth of the global surgical stapling devices market includes the quickly expanding number of hospitals and clinics around the world, the need for sterilized products for patient use to prevent infections and post-surgery recovery, and rising healthcare facility spending.
Strict government rules on manufacturing are a significant factor that may restrain the worldwide surgical stapling devices market expansion.
The global surgical stapling market was pegged at US$ 3,978.6 million in 2021 and is expected to witness a CAGR of 8.40 % during the forecast period.
The global surgical stapling devices market is expected to clock US$ 8222.31 million by 2030.
*Insights on financial performance is subject to availability of information in public domain
Recommended Reports