Global Surgical Stapling Devices Market: Snapshot
The demand in the global surgical stapling devices market is projected for a healthy growth rate during the forecast period of 2016 to 2024, as a result of several factors, such as rising number of surgical procedures, increasing preference of minimally invasive surgeries, and incrementing usage of surgical stapling devices in bariatric surgeries. Chronis illnesses such as orthopedic, cardiovascular, and neurological diseases have seen significant escalation in the recent times, whereas the adoptability of minimally invasive surgeries has increased as it offers benefits such as faster recovery, fewer post-surgery infections, reduced pain, bleeding control, and high accuracy. Obesity as grown into a widespread problem across the world in the recent times as a result of changed lifestyle, which is propelling the number of bariatric surgeries, and physicians are recommending MI techniques for the surgeries.
On the basis of product type, the global surgical stapling devices market can be segmented into manual surgical stapling devices and powered surgical stapling devices, which currently has more demand than the former. The extended demand for powered surgical stapling devices can be attributed to improved features and rising need for wound management. Based on usage, the market for surgical stapling devices can be classified into disposable or reusable. The report provides current demand and future potential of all segments as well as gauges the lucrativeness of various regions, apart from profiling a number of leading companies in order to represent the competitive landscape.
Global Surgical Stapling Devices Market: Overview
Surgical stapling devices were developed in response to rising concerns regarding the healing of traditional sutures. Compared to modern surgical staplers, sutures are more prone to separation and leaks. Additionally, surgical stapling devices offer a number of advantages over sutures such as accuracy, speed, and evenness of wound closure.
According to the US Food and Drug Administration (FDA), surgical staplers have been on the market for years now and these complex mechanical medical devices have been maturing in their technology. Employed in gynecologic, gastrointestinal, thoracic, and several other surgeries, surgical stapling devices are used to cut through tissues and organs, to remove part of an organ, and to develop connections between structures.
Two major types of surgical stapling devices are available in the market: manual and powered. These devices can be either reusable or disposable. Either way, both types are loaded with disposable cartridges. Geographically, the global surgical stapling devices market covers four main segments: Asia Pacific, North America, Europe, and Rest of the World.
This report offers readers a comprehensive and objective assessment of the global surgical stapling devices market and serves as an ideal blueprint for those looking to expand or enter into a business in this avenue. Supported with accurate facts and figures pertaining to the historical, current, and future performance of the surgical stapling devices market, the report offers actionable insights into where the market is headed and the key factors driving and hampering its growth. The most prominent players competing in the space are also highlighted and reviewed based on recent developments, product portfolio, business strategies, and financial standing.
Global Surgical Stapling Devices Market: Key Trends and Opportunities
The global surgical stapling devices market is single-handedly propelled by the rise in the number of surgeries performed around the world. The demographic trend of increasing geriatric population, growing prevalence of chronic diseases, presence of favorable reimbursement scenarios in developed and developing countries, and advancing medical tourism industry have contributed toward the increase in cardiovascular, neurological, and orthopedic surgeries, among others. This growth in surgical procedures has boosted the demand for surgical stapling devices significantly. Advent of new technologies, highly developed health care infrastructure in developed countries, rising demand for powered surgical instruments and accessories in emerging economies, and growing accessibility to health care facilities in developing countries are the other factors contributing to the expansion of this market.
Global Surgical Stapling Devices Market: Region-wise Outlook
Europe and North America are the dominant regional markets for surgical stapling devices and are likely to retain their lead during the forecast period. These regions are primarily driven by the early acceptance of advanced product innovations and technically advanced equipment. Asia Pacific is a much smaller market compared to the aforementioned developed markets; however, the potential for growth in the region is exceptional.
The RoW segment of the global market also holds immense scope for growth. The patient pool in Asia Pacific and RoW is high, thus translating into an increased number of surgical procedures and soaring demand for surgical stapling devices. Rising awareness about the availability and use of advanced surgical equipment and increasing health care expenditure in several developing countries are also likely to boost the surgical stapling devices market in Asia Pacific and RoW.
Conmed Corporation, Alcon Laboratories Inc., KLS Martin Group, Zimmer Holdings Inc., Stryker Corporation, Ethicon Inc., Smith & Nephew PLC, Medtronic Inc., and CareFusion Corporation are some of the leading players operating in the global surgical stapling devices market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.