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Surgical Electrical Staplers Market Estimated to Grow at a CAGR of 6.0% During the Forecast Period 2021-2026

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Surgical Electrical Staplers Market Estimated to Grow at a CAGR of 6.0% During the Forecast Period 2021-2026

August 03
15:04 2021
Surgical Electrical Staplers Market Estimated to Grow at a CAGR of 6.0% During the Forecast Period 2021-2026

Surgical Electrical Staplers Market
Increase in Preference for Minimally Invasive Surgery and the Rise in Geriatric Population Are the Major Factors Projected to Impel Growth of Surgical Electrical Staplers Market.

Surgical Electrical Staplers Market size was valued at $2,728 million in 2020 and is estimated to be growing at a CAGR of 6.0% during the forecast period 2021-2026. The surgical electrical stapler’s industry growth rate is attributed to the increasing number of surgical procedures across the globe, growing preference for minimally invasive surgeries, and is anticipated to bring new opportunities. Surgical electrical staplers are advanced staplers that are used to close lesions or skin wounds, attach or remove sections of the bowels or lungs, and keep body tissues together both externally and internally after an injury or surgery. Modern surgical electrical staplers are either disposable or reusable, which is made of plastic or stainless steel, and the design of surgical electric staplers can be linear cutter staplers, curved staplers, or circular staplers. Surgical staplers are tools that either help physical modification of biological tissue or provide rapid recovery of the internal and external body tissues. Staples, rather than sutures, minimize the local inflammatory reaction, the wound’s duration, and the time it takes to close the wound. Furthermore, owing to an increase in bariatric procedures and the use of advanced technology to perform endoscopic procedures are expected to increase the demand for surgical stapling devices. Also, the introduction of powered surgical devices and a soaring need for tissue & wound management is also further set to drive the market. However, significant government rules & regulations, inadequate quality assurance, and high cost of surgical electrical staplers are the major barriers to the growth of the surgical electrical staplers market during the forecast period 2021-2026.

Surgical Electrical Staplers Market Segment Analysis – By Product Type

In 2020, on the basis of product type, disposable segment accounted for the largest segmental revenue of the surgical electrical staplers market. The disposable segment held the largest market on account of the fact that there are various advantages associated with these devices including reduced risk of surgical site infections (SSIs) and time efficiency owing to pre-sterilization of devices. This segment is also projected to witness healthy growth throughout the forecast period 2021-2026 with a CAGR of 6.8% as a result of heightened concerns regarding communicable infections thereby, positively impacting the segment growth. Furthermore, the Centers for Disease Control and Prevention (CDC) promote the use of disposable devices and provide protocols to prevent the spread of pathogens. Regulatory bodies such as the United States Food and Drug Administration (FDA) have also confirmed that certain steps must be taken to ensure that sterilization procedures for medical devices are strictly followed in order to prevent infections.Thus, increasing the application of stapling equipment, especially in developed countries is also anticipated to fuel the market growth during the forecast period 2021-206.

Surgical Electrical Staplers Market Segment Analysis – By End Use

On the basis of end use, hospitals segment accounted for the largest segmental revenue of the surgical electrical staplers market in 2020 as they serve as primary centers for treatment and diagnosis of diseases coupled with favorable reimbursement scenario for bariatric surgeries. The growing number of chronic diseases around the world, as well as the growing number of diagnostic and screening tests, are expected to boost market growth. Apart from this, the major trend in hospitals that suggests a shift towards clinical efficiency models include the introduction of robotic technology in surgery.

On the other hand, ambulatory service center’s segment is projected to dominate over the forecast period 2021-2026 with a CAGR of 6.5%. The ambulatory service centers are to witness a healthy growth owing the scarce economic resources and shortage of hospital beds, especially in underdeveloped and developing economies. Moreover, ambulatory service centers are the primary care centers for diagnosis and treatment, with easy accessibility to multiple specialty treatments in a single facility. All these factors are to drive the segmental market growth.

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Surgical Electrical Staplers Market Segment Analysis – By Geography

North America is the major region dominating the surgical electrical staplers market with a market share of 35.6% in the year 2020. This can be attributed to the use of advanced technologies and non-invasive methods in increasing the number of total surgeries performed, the highest obesity rate in this region, the local presence of global players, and FDA approval for non-invasive surgeries in North America have fueled the regional market. Moreover, with recent developments in minimally invasive surgeries, special devices are designed for laparoscopic and thoracoscopy surgeries, which include the use of surgical electrical stapling devices. Hence, it has become the responsibility of surgeons to acquire prerequisite knowledge of stapling devices thereby, indirectly driving regional market growth. However, Asia-Pacific is projected to be the significant-growing market during the forecast period owing to the presence of a large patient pool in economies such as India, China, and Japan. Furthermore, increasing conduct of surgical procedures, coupled with rising healthcare expenditure and rising awareness regarding the use of them, the demand for stapling is anticipated to witness lucrative growth. The key players in the market are also expanding their footprints in this area. Aside from these, initiatives like Johnson & Johnson Medical’s India’s training of 8,000 doctors in advanced surgical products, such as non-invasive surgical staples, are expected to boost the demand in the country.

Surgical Electrical Staplers Market Drivers

Increasing Minimally Invasive Surgery

The surgical electrical stapler market is poised to receive upswing owing to significant increase in the burden of chronic diseases is rapidly increasing worldwide. The inception of modern electronic technologies such as minimally invasive surgery equipment and robotic surgeries is poised drive the growing demand for the surgical electric staplers market. The increasing demand for disposable devices due to heightened concerns for communicable infections and increase in bariatric surgeries due to a rising number of obesity-related operations are other growth augmenting factors that will affect the surgical electric staplers screening market.

Surgical Electrical Staplers Market Challenges

Cost Of Installation And Maintenance Of Equipment’s

Despite several drivers, one of the major factor hindering is the high cost of surgical electrical staplers in public hospitals, clinical sites, research Institutes, etc.is a bit expensive, thereby raising the treatment cost which is restraining the population in opting such treatment facilities. Although, technological advancements opened new opportunities in the market but significant government rules & regulations, inadequate quality assurance are also playing a vital role in challenging the regional market growth.

Surgical Electrical Staplers Market Landscape

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Surgical Electrical Staplers Market. In 2020, Surgical Electrical Staplers market share is fragmented by the top ten players present in the market. Surgical Electrical Staplers Market top 10 companies are Ethicon Inc., Medtronic PLC, Intuitive Surgical Inc., Dextera Surgical Inc., Conmed Corporation, Smith & Nephew, Becton Dickinson And Company, 3m Company, B. Braun Melsungen Ag, Purple Surgical, Frankenman International Ltd., Welfare Medical Ltd., Reach Surgical, Grena Ltd., Meril Life Sciences Pvt Ltd and others.

Acquisitions/Product Launches

In December 2020, Medtronic has announced the launch of EEA Circular Stapler with Tri-Staple Technology – the first 3-row Circular Stapler with varied height staples. The new Tri-Staple Technology comprises a sloped cartridge face that delivers less stress on tissue. It also offers consistent performance over a broad range of tissue thickness and allows for greater perfusion into the staple line.

In September 2019, Ethicon Inc. launched the industry’s first powered circular stapler. The ECHELON CIRCULAR Powered Stapler reduces leaks by 61% at the staple line compared to Medtronic’s DST Series™ EEA™ Stapler.

Key Takeaways

North America dominated the surgical electrical staplers market with a share of 35.6% in the year 2020.

The factors such as increase in preference for minimally invasive surgery and the rise in geriatric population are amongst the major factor projected to impel growth of surgical electrical staplers market.

Additionally, factors such as numerous advantages of surgical electrical staplers such as high speed, less pain, and evenness of wound closure have increased its use in the operating room are to create opportunities paving a way for the growth in the market during forecast period 2021-2026.

Related Reports:

A. Spinal Surgical Robots Market

https://www.industryarc.com/Report/15258/spinal-surgical-robots.html

B. Powered Surgical Instruments Market

https://www.industryarc.com/Research/Powered-Surgical-Instruments-Market-Research-501333

For more Lifesciences and Healthcare Market reports, please click here

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