In a recent published report, Kenneth Research has updated the U.S. Surgical Staplers Market report for for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for U.S. Surgical Staplers Market products.
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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
U.S. Surgical Staplers Market
Surgical stapling is a technological advancement in medical wound closure methods and is often used as an alternative to traditional methods like suturing. The use of surgical staplers not only expedites the closure procedure but also minimises post procedural complexities like bleeding, and reduces hospital stays. Surgical Stapling is widely used in the U.S. for various types of surgical procedures.
The rapid increase of a number of diseases like obesity, cardiovascular problems, and cancers in the U.S., are contributing to the rise in the number of surgeries of open as well as minimally invasive type. Ongoing research and development of new technologies and innovations in the medical devices market of the country are boosting demand for surgical staplers. The U.S. surgical staplers market is expected to grow at a high CAGR through the forecast period.
Investment in research and development of advanced surgical stapling systems are expected to boost the market. The U.S. is one of the largest patent filers for surgical staplers and its related devices, with companies like Dextera Surgical, and Ethicon continuously researching to develop superior surgical staplers.
From the demand side too, the surgical staplers market is the U.S. looks strong. United States is likely to be witnessing an increasing demand for branded, generic drugs and medical devices from 2016 onwards as the number of insured individuals continues to grow under ACA and Medicaid. Between September 2013 and February 2015, 16.9 million Americans were newly insured. Under such coverages, people are expected to opt for surgeries, which without insurances would be expensive. This is expected to raise the demand for surgical staplers in the region.
Reusable surgical staplers are gaining traction in the region because regulatory bodies like the United States Environmental Protection Agency, Occupational Safety and Health Administration (OSHA), U.S. Food and Drug Administration (FDA), and others, have stringent guidelines on monitoring and regulating the amount of medical waste that is created. Reusable surgical staplers are expected to be increasingly preferred by hospitals in the region since they be categorised under green products” creating less impact on the environment as compared to single-use disposable surgical stapling devices.
o The U.S. surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable surgical staplers. Powered surgical staplers dominated the market share in 2017, and the reusable surgical staplers segment is expected to grow at a higher CAGR in the forecast period (2018-2023).
o The U.S. surgical staplers market is further segmented based on its applications- abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries. In 2017, the general surgeries segment held the biggest share of the market.
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Key growth factors:
o The percentage of the total population of the U.S. aged 65 and above will rise from 15% in 2015 to 21% by 2030. The growing population of the elderly, coupled with their specific age-related diseases, are supposed to drive the surgical staplers market.
o The United States of America was the largest medical devices market in the world, having a market share of 40% of the medical devices market globally in 2015. The country receives one of the highest foreign direct investment in the medical devices industry. The investments are expected to boost the surgical staplers market in the country.
Threats and key players:
o According to the U.S. Food and Drug Administration, the use of surgical staplers results in 8,000 to 9,000 reported complications every year in the United States, with many resulting in injuries or death due to failure or misfire of staples, and due to staples that do not form properly. This is a major challenge for the adoption of surgical staplers in the region.
o The stringent procedure for all medical devices to be approved by the U.S. Food and Drug Administration (FDA), to be made available in the U.S. market is a hindrance to the growth of the market. The process can take years for the companies to be a part of an FDA trial for their equipment.
o The key players in the U.S. surgical staplers market are Ethicon (Johnson & Johnson), Covidien (Medtronic), 3M, B.Braun, Dextera Surgical, Intuitive Surgical, etc.
What’s covered in the report?
1. Overview of the U.S. surgical staplers market
2. Analysis of the value chain of surgical staplers
3. Historical, current and forecasted market size data for the U.S. surgical staplers market
4. Historical, current and forecasted market size data for the U.S. surgical staplers market segmentation- by product – manual and powered surgical staplers market
5. Historical, current and forecasted market size data for the U.S. surgical staplers market segmentation- by type – disposable and reusable surgical staplers market
6. Historical, current and forecasted market size data for the U.S. surgical staplers market segmentation- by application – abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries
7. Market Trends in the U.S. surgical staplers market
8. Qualitative analysis of the key drivers and challenges affecting the U.S. surgical staplers market and its segmentations (by product- manual and powered, by type -reusable and disposable, by application- abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries)
9. Analysis of the competitive landscape and profiles of major players operating in the market
1. Get a broad understanding of the U.S. surgical staplers market
2. Get an understanding of how the surgical staplers reach the end users from the manufacturers
3. Get specific drivers and challenges for surgical staplers market and its segmentations (by product- manual and powered, by type -reusable and disposable, by application- abdominal surgery, cardiac surgery, orthopedic surgery, general surgery and other surgeries)
4. Recognize major competitors’ business and market dynamics, and respond accordingly
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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