PUBLISHER: The Business Research Company | PRODUCT CODE: 1428034
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428034
Surgical stapling devices are medical instruments utilized for internal surgical procedures, such as excising a portion of an organ or tissues and establishing connections between sutures. They facilitate the quicker repair of significant wounds or incisions and are generally less discomforting for patients compared to traditional stitches. These devices find frequent use in minimally invasive surgical procedures.
The primary product types of surgical stapling devices include powered and manual variants. Manual surgical stapling devices necessitate the surgeon to apply variable grip force to advance the knife blade and staples, addressing large wounds or surgical incisions on a patient's skin or scalp that are closed externally. The various surgery types encompass open surgery and laparoscopic surgery, employed in diverse applications such as gynecology surgery, urology surgery, general surgery, among others. Additionally, these devices are utilized by various end-users, including hospitals, ambulatory surgical centers, and others.
The surgical stapling devices market research report is one of a series of new reports from The Business Research Company that provides surgical stapling devices market statistics, including surgical stapling devices industry global market size, regional shares, competitors with a surgical stapling devices market share, detailed surgical stapling devices market segments, market trends, and opportunities, and any further data you may need to thrive in the surgical stapling devices industry. This surgical stapling devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The surgical stapling devices market size has grown rapidly in recent years. It will grow from $3.87 billion in 2023 to $4.27 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The rise observed in the historical period can be attributed to the adoption of minimally invasive surgery, an increasing aging population, a rising incidence of chronic diseases, patient demand for less invasive procedures, and the development of healthcare infrastructure.
The surgical stapling devices market size is expected to see strong growth in the next few years. It will grow to $6.06 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The anticipated growth in the forecast period can be linked to the increasing number of surgical procedures in emerging markets, a rise in bariatric surgeries, a preference for outpatient procedures, a focus on value-based healthcare, and a surge in robotic-assisted surgeries. Key trends expected in the forecast period encompass technological innovations, integration with imaging technologies, the adoption of telemedicine and remote surgical assistance, customizable stapling solutions, and the incorporation of artificial intelligence in surgical decision-making.
The anticipated increase in gastrointestinal surgery procedures is set to drive the future growth of the surgical stapling devices market. Gastrointestinal surgery plays a crucial role in treating disorders affecting the digestive system, encompassing a range of procedures for common and rare issues in the small intestine, esophagus, and stomach. Surgical stapling devices play a pivotal role in facilitating various gastrointestinal surgery procedures by ensuring proper hemostasis and tissue apposition without causing significant ischemia or tissue damage. For example, in January 2023, the United Network for Organ Sharing reported a record annual increase of over 6%, with 603 cases of liver transplants involving living donors in 2022 compared to the previous year. This surge in gastrointestinal surgery procedures highlights the driving force behind the growth of the surgical stapling device market.
The increasing prevalence of chronic diseases is expected to contribute significantly to the growth of the surgical stapling devices market in the foreseeable future. Chronic diseases are prolonged medical conditions that often develop gradually and persist for an extended period, impacting an individual's life. Surgical stapling instruments are utilized in procedures related to or associated with chronic disease-related problems or symptoms. For instance, in March 2022, the Australian Bureau of Statistics reported that 78.6% of Australians suffer from at least one chronic illness, with 11.6 million individuals, representing 46.6% of the population, experiencing at least one chronic condition. Hence, the rising incidence of chronic diseases is a key driver for the surgical stapling devices market.
Technological advancements represent a prominent trend gaining momentum in the surgical stapling device market. Major companies in the market are adopting new technologies to maintain their competitive positions. For instance, in March 2021, Ethicon, a US-based company and part of Johnson & Johnson Medical Devices, introduced the ECHELON+ Stapler with GST Reloads. This powered surgical stapler is designed to enhance staple line security and prevent complications by offering more uniform tissue compression and improved staple creation, especially in challenging conditions. Innovative design elements, including a reengineered ECHELON+ Anvil with Gripping Surface Technology (GST) Reloads and a new motor with Dynamic Firing, distinguish this stapler from previous models, optimizing firing speed in thick tissue for improved compression and audible feedback.
Major companies operating in the surgical stapling devices market are prioritizing the approval of innovative drugs. The approval process for innovative drugs involves rigorous review and approval by regulatory authorities such as the U.S. Food and Drug Administration (FDA) or the European Medicines Agency (EMA). For example, in December 2021, Intuitive Surgical, Inc., a US-based company specializing in robotic surgical products, announced the approval of an 8 mm SureForm 30 Curved-Tip Stapler with reloads for use in thoracic, general, gynecologic, urologic, and pediatric surgery. The unique features of this stapler, including an 8-mm instrument shaft, 120-degree wristed articulation cone, and curved tip, enhance surgeons' visibility and access to anatomy.
In September 2022, Teleflex Incorporated, a US-based provider of medical technologies, completed the acquisition of Standard Bariatrics, Inc. for $170 million. This strategic acquisition strengthens Standard Bariatrics' existing bariatric surgeon portfolio by adding a differentiated product that complements essential surgical products, including the ligation portfolio. Standard Bariatrics, a medical device company specializing in surgical tools, including surgical stapling devices, is poised to enhance its market position through this acquisition.
Major companies operating in the surgical stapling devices market report are 3M Company, Medtronic PLC, Johnson & Johnson MedTech, Becton, Dickinson and Company, Stryker Corporation, B. Braun SE, Zimmer Biomet Holdings Inc., Intuitive Surgical Inc., Smith & Nephew PLC, Teleflex Incorporated, CONMED Corporation, Meril Life Sciences India Pvt. Ltd., Blue Sail Medical Co Ltd., Surgical Specialties Corporation, Ackermann Instrumente GmbH, Frankenman International Ltd., Touchstone International Medical Science Co. Ltd., Genesis Medtech Group., Jiangsu Qianjing Medical Equipment Co. Ltd., Purple Surgical Holdings Limited, Surgical Innovations Group, BioPro Inc., Changzhou Ankang Medical Instruments Co. Ltd., Dextera Surgical Inc., Cardica Inc., Grena Ltd., Welfare Medical Ltd., Lexington Medical Inc., Advin Healthcare Private Limited (AHPL), Victor Medical Instruments Co. Ltd.
North America was the largest region in the surgical stapling devices market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surgical stapling devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the surgical stapling devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The surgical stapling devices market consists of sales of circular staplers, skin staplers, and open staplers. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Surgical Stapling Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on surgical stapling devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for surgical stapling devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The surgical stapling devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.