Surgical Stapling Devices Market Is Predicted to Reach USD 3.81 Billion by 2026
The rising prevalence of chronic diseases is expected to contribute positively to the surgical stapling devices market, says Fortune Business Insights in a report, titled “Surgical Stapling Devices ” Market Size, Share & Industry Analysis, By Product Type (Powered, Manual), By Type (Disposable, Re-usable), By Application (Gynecology Surgery, Urology Surgery, General Surgery, Others), By Surgery Type (Open Surgery, Laparoscopic Surgery), By End-user (Hospitals, Speciality Clinics, Others) and Regional Forecast, 2019-2026.” The global surgical stapling devices market size was valued at USD 2.16 Billion in 2018 is expected to reach USD 3.81 Billion by 2026, exhibiting a CAGR of 7.4% between 2019-2026.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
The report covers:
- Global Surgical Stapling Devices Market trends, with detailed analysis on consumer trends & manufacturer trends.
- Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
- Key areas of investments identifying market opportunities and challenges in forecast timeframe.
- Competitive analysis of the industry players along with the overview on strategic management.
- Comprehensive company profiles of the major industry players.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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https://www.fortunebusinessinsights.com/industry-reports/surgical-stapling-devices-market-101593
Leading Players operating in the Surgical Stapling Devices Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Medtronic
- Johnson and Johnson Services, Inc.
- 3M
- Smith & Nephew
- Braun Melsungen AG
- Purple Surgical
- Intuitive Surgical
- AesDex, LLC
- Becton, Dickinson and Company
- Conmed Corporation
As per the report of Surgical Stapling Devices Market, the increasing number of surgical procedures and types of incisions performed will benefit the market during the forecast period. According to the data published by OECD, estimated 200,000 cesarean section procedures were carried out in the year 2017 in UK. Furthermore, the increasing number of bariatric surgeries is expected to propel the growth of the market. In addition, the rising adoption of surgical staplers owing to the advantages the surgical staples offer compared with the traditional suturing and stitching methods will create growth opportunities for the surgical stapling devices market.
Increasing cases of Cancer Will Facilitate Growth
The increasing cases of radical mastectomy and rising number of surgical procedures will aid the market. According to OECD statistics, an estimated 17,000 mastectomy in-patient cases were recorded in U.S for 2017. The rising number of visits to ambulatory surgical centers and growing incidence of chronic disease such as cancer will boost the market growth. The surge in laparoscopic procedures owing to the its advantages such as smaller incision, lesser hospital stays and lower cost associated with the procedure will augment the growth of the market.
According to the statistical analysis by Healthcare Cost and Utilization Project, and estimated 100,500 laparoscopic gastrointestinal surgeries were performed in ambulatory surgical centers in U.S for the year 2014. In addition, the increasing awareness regarding surgical staplers is expected to stimulate growth of the surgical stapling devices market.