The growth of the market is attributed to the increasing number of surgical procedures across the globe, growing preference for minimally invasive surgeries, technological advancements, and increasing preference for Surgical Staplers over sutures. The growing popularity of cosmetic surgeries, medical tourism in developing economies, increasing healthcare demand in low- and middle-income countries is expected to offer lucrative growth opportunities for players in the surgical staplers market.
According to research report the global Surgical Staplers Market size is expected to reach USD 4.78 Billion by 2022 from USD 3.38 Billion in 2017, at a CAGR of 7.2 %.
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The market is dominated by North America, followed by Europe. North America dominated the market in 2017 and Asia-Pacific is poised to register the highest CAGR during the forecast period.
The dominance of North America is attributed to factors such as the growing geriatric population, increasing incidence of diseases (leading to an increase in the number of surgeries for corrective and preventive treatments), increasing preference for bariatric and cosmetic surgeries, availability of technologically advanced products and their higher adoption rate among surgeons and patients, presence of leading surgical stapler manufactures in the region, and higher public private spending as a percentage of GDP (resulting in better healthcare facilities and infrastructure).
Based on product, the market is segmented into manual surgical stapler and powered surgical stapler. The manual surgical stapler segment is expected to account for the largest share of the surgical stapler market in 2017. Manual surgical staplers are faster, more economical, and cause fewer infections than stitches. It also causes low tissue reactivity, which helps in preventing SSIs as compared to conventional methods available for wound closure such as sutures.
By end user, the market is segmented into hospitals and ambulatory surgical centers (ASCs) clinics. In 2017, this segment is also expected to register the highest CAGR during the forecast period. Rapidly increasing patient volume, the subsequent increase in the number of complex surgeries, easy accessibility to multiple specialty treatments in a single facility, and favorable reimbursements is expected to drive the demand for surgical staplers among hospitals.
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The surgical staplers market is duopolistic in nature with two major players Ethicon Inc. (U.S.) and Medtronic plc (Ireland). CONMED Corporation (U.S.), Smith Nephew (U.K.), Purple Surgical Inc. (U.K.), Intuitive Surgical Inc. (U.S.), Welfare Medical Ltd. (U.K.), Reach surgical Inc. (China), Meril Life Science Pvt. Ltd. (India), Grena Ltd. (U.K.), B. Braun Melsungen AG (Germany), Dextera Surgical Inc. (U.S.), Frankenman International (China), and Becton, Dickinson and Company (U.S.) are some of the other players operating in the global surgical staplers market.
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