ALBANY, New York, June 12, 2018 /PRNewswire/ --
The global surgical staplers market was valued at around US$ 2 Bn in 2017 and is anticipated to cross US$ 4 Bn by 2026, registering a growth rate of 7.5% during the forecast period, according to a new report published by Transparency Market Research (TMR), titled "Surgical
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Rise in demand for minimally invasive surgery on the backdrop of growing geriatric population to drive market growth
Adoption of minimally invasive procedures is on the rise due to advantages, such as, reduced pain and scarring, smaller incisions, shorter hospital stays, fewer complications, and faster recovery rate. According to Ethicon US, LLC, approximately 2 million minimally invasive procedures were performed in the U.S. in 2015, and the number is set to increase in the near future. Surgical staplers are widely used for minimally invasive surgeries, such as, colorectal, cosmetology, laparoscopic procedures, general surgery, and flexible endoscopic procedures. These techniques cause minimal complications, reduce the risk of infections, cause less pain, and have faster recovery rate, leading to shorter hospital stay as compared to traditional therapies and treatments. These factors have helped in wide acceptance and adoption of minimally invasive surgeries by many medical facilities and centers. Moreover, the growing trend of computer-assisted or robotic minimally invasive surgery is expected to boost the growth of the surgical staplers market during the forecast period.
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Disposable surgical devices and manual devices technology to direct the market
High preference for disposable surgical staplers against reusable ones is a major factor driving the disposable staplers segment. Low chances of cross infection, no need for cleaning or sterilization, and ease of use are some of the key factors driving the disposable staplers segment. The disposable surgical devices segment is anticipated to hold a major share of around 78% by 2026. The reusable staplers segment is expected to remain insignificant during the forecast period, due to complications associated with sterilization and high cost of the product. Among different technologies, the manual devices segment is projected to rule the market, owing to increasing number of surgeries and rising adoption of surgical staplers against surgical sutures in developing countries.
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Patented Endo-Luminal Linear Anastomosis (ELLA) stapler technology to boost market growth
The general surgery application segment of the global surgical staplers market is primarily driven by technological advancements. The general surgery segment is expected to hold more than 40% share of market in 2017 owing to technological advancements, increasing awareness among surgeons, acceptance over conventional sutures, and innovative product launches. Endo-Luminal Linear Anastomosis Stapler (ELLA) is a technology that belongs to TRL level 2 and has been patented in 2016 by Institut d'Investigació Biomèdica de Bellvitge. ELLA stapler technique helps avoid problems, such as, the need to close enterotomy or cross-stapling. The ELLA stapler is an easy, safe, and standard technique. As such, clinicians prefer to work with this new device. The technology was published in March 2016 and the key players are likely to adopt it. This is expected to boost the global surgical staplers market during the forecast period.
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Hospitals: The key end-user of the market
In terms of end-user, the hospitals segment dominated the surgical staplers market in 2017. The trend is expected to continue during the forecast period. The last 50 years have seen a rapid increase in government expenditure on public welfare. Emerging economies have experienced improvement in health care facilities, such as, clinics, hospitals, and operating facilities. Rise in health care spending owing to increase in disposable income of the people is augmenting the number of surgeries performed, thereby driving the growth of the hospitals segment.
Unmet medical needs in developing countries to create lucrative opportunities
Emerging economies in Asia Pacific, Latin America, and Europe offer significant opportunities to the surgical and staplers market due to growing population and high unmet medical needs prevalent in these regions. Rise in expenditure in health care supported by the growth of these economies also plays an important role in offering potential opportunities to the manufacturers of surgical staplers. Emerging economies in Asia Pacific and Latin America have a moderate adoption rate of surgical staplers on account of low awareness among patients. Hence, rise in awareness in the next few years regarding innovative surgical staplers is likely to help the market ensure sustainability. Therefore, companies investing in these rapidly developing markets are expected to record substantial growth, provided pricing and distribution activities are undertaken effectively.
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Players with high revenue, such as Medtronic and Johnson & Johnson, dominate the global market
The global surgical staplers market is highly consolidated, with the presence of a few large-scale public and private medical devices companies. The global market is dominated by a few players based in developed countries. Covidien Plc. (now a part of Medtronic Plc.) and Johnson & Johnson Services, Inc. (Ethicon Inc.) are the key players operating in the market, holding around 80% of its share. Purple Surgical International Ltd., Victor Medical Instruments Co., Ltd., Grena Ltd., Golden Stapler Surgical Co. Ltd, Becton, Dickinson and Company, Smith & Nephew, B. Braun Melsungen AG, XNY Medical, Frankenman International Limited, and Dextera Surgical Inc are the other significant players operating in the global surgical staplers market. As India and China represent two of the fastest growing economies in the world, successful penetration of these markets can generate profitable business for companies.
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