Surgical Stapling Devices Market Size ($7.74 Billion by 2028) Lead by Surging Popularity of Cosmetic Surgery – Exclusive Research Report by The Insight Partners
The global surgical stapling devices market size to grow at a CAGR of 8.3% from 2022 to 2028, it is expected to reach USD 7.74 billion by 2028 from USD 4.79 billion in 2022.
New York, Feb. 21, 2023 (GLOBE NEWSWIRE) — According to The Insight Partners, “Surgical Stapling Devices Market Size, Share, Growth and Global Forecast to 2028 – COVID-19 Impact and Global Analysis By Product (Powered Surgical Staplers and Manual Surgical Staplers), Type (Disposable Surgical Staplers and Reusable Surgical Staplers), Application (Orthopedic Surgery, Endoscopic Surgery, Cardiac and Thoracic Surgery, Abdominal and Pelvic Surgery, and Others), and End User (Hospitals and Ambulatory Surgical Centers)”; the global surgical stapling devices market growth is driven by increase in wounds & surgical procedures, surging popularity of cosmetic surgery and growth in medical tourism in developing countries.
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Global Surgical Stapling Devices Market – Report Scope:
|Market Size Value in||USD 4.79 Billion in 2022|
|Market Size Value by||USD 7.74 Billion by 2028|
|Growth rate||CAGR of 8.3% from 2022 to 2028|
|No. of Pages||190|
|No. of Tables||110|
|No. of Charts & Figures||71|
|Historical data available||Yes|
|Segments covered||Product, Type, Application, and End User|
Global Surgical Stapling Devices Market: Competitive Landscape and Key Developments
Intutive Surgical Inc., Medtronic Plc, Ethicon USA LLC, Frankenman International Ltd, Panther Healthcare Medical Equipment Co Ltd, B. Braun SE, Grena Ltd, Conmed Corp, 3M Co, and Purple Surgical UK Ltd are among the leading companies operating in the global surgical stapling devices market. These players are focusing on expanding and diversifying their market presence, and acquiring a novel customer base, thereby tapping prevailing business opportunities in surgical stapling devices market.
Many market players are launching their innovative products in the surgical stapling devices market with advanced features. For instance,
In June 2022, Ethicon launched next generation Echelon 3000 stapler designed for exceptional access and control. It is digitally enabled device that provides surgeons with simple, one-handed powered articulation to help address the unique needs of their patients. Designed with 39% greater jaw aperture and a 27% greater articulation span,3,4 ECHELON 3000 gives surgeons better access and control over each transection, even in tight spaces and on challenging tissue.
In March 2021, Ethicon launched of the ECHELON+ Stapler with GST Reloads, a new powered surgical stapler designed to increase staple line security and reduce complications through more uniform tissue compression and better staple formation, even in challenging situations.
In December 2021, Intutive Surgical Inc received FDA clearance for 8 mm SureForm 30 Curved-Tip Stapler. and reloads for use in general, thoracic, gynecologic, urologic, and pediatric surgery.
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Surging Popularity of Cosmetic Surgery and Growth in Medical Tourism in Developing Countries in Surgical Stapling Devices to Offer Growth Opportunities
The beauty industry and standards have undergone a significant change in the last few decades. People are not thinking twice before opting for cosmetic procedures to keep up with beauty standards. In addition to surgeries performed for enhancing aesthetics, the demand for various procedures such as breast augmentation, tummy tuck, lipoplasty, rhinoplasty, and hair transplant is increasing significantly. In the past few years, there has been significant growth in breast augmentation and implant removal procedures. Per the Aesthetic Plastic Surgery Statistics, 365,000 breast augmentation procedures were performed in 2021, while 71,000 patients had their implants removed.
Asia Pacific is characterized by developing economies such as China, South Korea, and India. Consumer awareness and consciousness about beauty treatments and aesthetics are rising in these countries. The healthcare sector in Mexico, a developing economy in North America, also offers high-quality cosmetic surgeries at low costs. A large population travels from the US and other neighboring countries to Mexico for various medical treatments, including cosmetic surgeries and dental treatments. According to the Middle East Tourism Journal, ~1.2 million medical tourists visit Mexico every year from all around the world, seeking high-quality treatments at low prices. On an average the cosmetic surgery in Mexico is 50-70% less in comparison with US which increases the affordability. For instance, nose job cost US$ 7,650 in the US and the same procedures only cost US$ 3,000 in Mexico.
Therefore, a surge in the popularity of cosmetic surgeries and the growth of medical tourism in developing economies are creating ample opportunities for the surgical stapling devices market players.
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Surgical Stapling Devices Market: Segmental Overview
Based on application, the global surgical stapling devices market is divided into orthopedic surgery, endoscopic surgery, cardiac and thoracic surgery, abdominal and pelvic surgery, and others. The orthopedic surgery segment held the largest share of the surgical stapling devices market in 2022 and is expected to grow at the highest CAGR during the forecast period. According to the Canadian Joint Replacement Registry (CJRR), more than 63,000 hip replacements and 75,000 knee replacements were performed in Canada in 2019–2020 and the top 3 reasons for both hip and knee revisions were infection, aseptic loosening, and instability. On average, hip and knee replacements had an estimated inpatient cost of ~US$ 10,500, while revision surgeries cost close to US$ 16,800. Furthermore, after orthopedic surgery, there is a significantly higher risk of developing a wound infection when the wound is closed with staples rather than sutures. Bone staples are made of surgical-grade stainless steel or titanium and are thicker, stronger, and larger. For Instance, MedShape Inc., a developer of orthopedic devices using advanced functional materials, announced the full commercial launch of the DynaClip Bone Fixation system. Featuring superelastic nickel-titanium (NiTiNOL) technology, the DynaClip represented the next generation in bone stapling by providing both dynamic compression and reliable durability to withstand the demanding loading conditions in the foot and ankle. Furthermore, Tyber Medical got US Food and Drug Administration (FDA) 510(k) clearance for its new NiTy+ One-Shot staple fixation system.
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