The Global Surgical Stapling Market to grow at a CAGR of 7.6% during the forecast period 2018–2024 to account for $5.8 billion by 2024
Factors such as growing surgical procedures across the globe, growing disease incidence, increasing adoption of staplers over traditional sutures, and high preference for minimally invasive surgery will increase the market growth during the forecast period.
BANGALORE, India, April 23, 2018: Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Global Surgical Stapling Market – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2018–2024” (March 2018).
According to Infoholic Research, the surgical stapling market is growing steadily due to some primary factors such as the increasing incidence of diseases universally, growing elderly population, growing healthcare expenditure, and high adoption of staplers over sutures. The high cost of this medical device and availability of alternate technologies such as sutures, sealants, clips, adhesives etc., are some of the factors hampering the market growth. The surgical staplers mainly find its application in cardiac & thoracic surgery, gynecology surgery, general surgery, orthopedic surgery, cosmetic surgery and others. Cardiac and thoracic surgery occupied a major market share in 2017 and this is expected to grow at high CAGR in the next few years. The increase in life threatening diseases has resulted in more surgical procedures across the globe and more than 230 million surgeries are performed worldwide. More than 22 million surgeries take place in the US every year. The Asia Pacific region accounts for the largest distribution of surgical procedures of nearly 33% of the worldwide procedures, largely due to its population of over 4 billion. China currently performs the highest number of plastic surgeries in Asia, according to a survey conducted by the International Society of Aesthetic Plastic Surgery.
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The “Global Surgical Stapling market” is expected to grow at a CAGR of 7.6% during the forecast period 2018–2024 to touch an aggregate of $5.8 billion by 2024.
The market is analyzed based on five segments – type, product, applications, end-users and regions. The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). In North America, the US and Canada are set to be the leading countries. Europe is set to be the second leading region. It held around 31.0% of the market share in 2017. Asia-Pacific is expected to grow at the fastest CAGR during the forecast period.
The Surgical Stapling market based on type is segmented into disposable staplers and reusable staplers. Disposable staplers occupied the largest share in 2017, and reusable stapler is expected to grow at a high CAGR in the coming years because it will lead to reduced generation of surgical waste compared to disposable staplers. Another factor is the high preference from hospital procurement team as it has much less impact on the environment.
“The surgical stapling market is growing steadily and major vendors in the market are using product approvals and new product launch as key strategy to increase their revenue. The increasing popularity of cosmetic surgery and high preference for minimally invasive surgery are expected to provide a better opportunity to increase the use of surgical staplers.” - Arpitha Shetty, Research Analyst (Research – Healthcare) at Infoholic Research
View complete report @ https://www.infoholicresearch.com/report/surgical-stapling-market-2018-2024/
Further, the report also aims to cover the below-mentioned points:
- An in-depth analysis of the key business opportunities in countries and verticals
- The details about the various types of surgical staplers
- The details of trending surgical stapling devices in the market
- The complete analysis of the top 11 players in this market
- Industry outlook including current and future market trends, drivers, restraints, and emerging technologies