LONDON–(BUSINESS WIRE)–Technavio analysts forecast the global surgical stapling devices market to grow to USD 3.61 billion by 2021, at a CAGR of close to 9% over the forecast period, according to their latest report.
The research study by Technavio on the global surgical stapling devices market for 2017-2021 provides detailed industry analysis based on product type (powered surgical stapling devices and manual surgical stapling devices), usage (disposable surgical stapling devices and reusable manual stapling devices), end-users (hospitals and ambulatory surgical centers), and geography (the Americas, EMEA, and APAC).
A surgical stapler is a medical device used for wound closure and thoracic and intra-abdominal resections. Hospitals are the key end-users for surgical staplers, generating over 55% of the overall market revenue. Since many numbers of surgeries take place in hospitals to treat various conditions, they create a steady demand for surgical stapling devices, thereby driving the growth of the market.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global surgical stapling devices market:
- Rising number of surgical procedures
- Increasing preference for minimally invasive (MI) surgeries
- Growing usage of surgical stapling devices in bariatric surgeries
Rising number of surgical procedures
There is a global increase in the incidence of chronic illnesses such as cardiovascular, orthopedic, and neurological diseases. Orthopedic diseases such as arthritis and spinal deformity and neurological disorders like dementia and epilepsy have also witnessed a significant increase. Many of these diseases require surgical intervention.
“Surgeries that require excision, incision, and surgical stapling of tissue along with general or regional anesthesia are referred to as major surgeries. A maximum number of such surgeries are for the treatment of cardiac, gastrointestinal, neurology, gynecology, urology, and orthopedic conditions, which will drive the demand for surgical stapling devices,” says Barath Palada, a lead analyst at Technavio for orthopedics and medical devices research.
Increasing preference for minimally invasive (MI) surgeries
Advances in the healthcare sector have vastly improved the techniques and outcomes of many surgical procedures globally. The constantly evolving industry is shifting to minimally invasive procedures from the previously popular open surgeries to provide shorter recovery periods and lower the chance for the development of complications. MI procedures offer faster recovery, less pain, fewer post-surgery infections, reduced hospital stays, reduced incision marks, bleeding control, minimal complications, and high accuracy. The open wounds from these MI surgeries are easily closed with the help of a surgical stapler, which acts as a key driver boosting the demand for the market.
Growing usage of surgical stapling devices in bariatric surgeries
“The number of bariatric surgeries or weight loss surgeries is on the rise, and the advances of surgical robotics has made the procedure very safe. This procedure is fast gaining prominence worldwide, particularly among pediatric patients with obesity, which is acting as a major driver of the surgical stapling devices market,” says Barath.
The prevalence of obesity is on the rise worldwide, which is boosting the number of bariatric surgeries. Physicians around the world are implementing MI techniques for various weight loss surgical procedures. Advanced surgical staplers with the latest technologies are widely used in the closing of bariatric surgeries.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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