Kenneth Research has examined the statistical and analytical approach that is required for the growth of Asia-Pacific Surgical Staplers Market for the period 2022 and 2031. The key industrial insights provided in the report gives a better idea about the market overview to the readers regarding the existing scenario in the market. In addition, the report includes detailed discussion on current and future market trends that are associated with the growth of the market.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis 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) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst 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 Asia-Pacific Surgical Staplers Market Products.
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According to the statistics by the World Bank, current health expenditure around the world increased from 9.391 % of GDP in the year 2011 to 9.896 % of GDP in the year 2017. Moreover, the statistics also stated that Tuvalu, a nation in Oceania region, had the highest expenditure of 17.143 % of GDP in the year 2017, followed by the United States, with 17.061 % of GDP.
Asia-Pacific Surgical Staplers Market
Asia Pacific is projected to be the fasted growing surgical staplers market in the world. The Asia Pacific surgical staplers market is expected to grow at a CAGR of 9.6% leading to a revenue of USD 0.79 Bn by 2023.
Considering the demographics of the region, about half of the Asian countries currently have less than a 5% share of the older population. The countries with a higher share of younger population are located in South Central Asia – Afghanistan (2.5% geriatric), South-Eastern Asia (e.g., Laos, 3.8% geriatric), and Western Asia (e.g., Kuwait – 2.3%; Yemen – 2.7% geriatric). However, East Asia is one of the oldest sub-regions globally that includes the one of oldest countries in the world—Japan (26.6% geriatric). Overall, in 2016, 12.4% of the population in the Asia-Pacific region was 60 years or older, which is lower than North Americas 17% (approx.). This unique mix serves a as a major driver for the growth of the surgical staplers market in the Asia-Pacific.
Also, Asian countries like China and Japan are large medical devices markets after the U.S. and European Union and are bound to expand more given the fact that the percentage of the geriatric population in Japan is expected to increase from 24% in 2012 to 40% in 2050. These people will require specific age related surgeries. Thus, manufacturers of surgical devices shall get a boost in this region.
The Asia-Pacific surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable surgical staplers. Manual Surgical Staplers dominated the market share in 2017 while the reusable surgical is expected to grow at a higher CAGR in the forecast period (2018-2023).
Asia-Pacific surgical staplers market is further segmented based on its applications – abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries. In 2017, the abdominal surgeries segment held the biggest share of the market.
Key growth factors:
o Increased medical tourism in countries like Thailand, South Korea, and India (A cardiac operation at best of Indian hospitals costs less than 30% of what it would cost in Europe or the United States) over the years due to the availability of cheaper but quality surgical procedures drives the surgical staplers market in the Asia Pacific region.
o The recent launch of public healthcare programs clubbed with increasing private wealth is expected to boost the region’s health care spending by an annual average of 6.6% in 2015-2019. The growth in countries like India is expected to be at a substantial rate of 16.1% per year. The government has set a target of increasing public health expenditure which is expected to boost the demand for advanced medical technologies like surgical staplers.
Threats and key players:
o Expenditure on healthcare in the Asia-Pacific, though increasing, is still quite low compared to regions like North America. (Healthcare expenditure in NA was USD 3306 Bn per capita in 2015 while in APAC it was almost half of NA with USD 1537 Bn per capita). This might act as a challenge to the adoption of surgical staplers.
o Affordability is an issue in countries like India, Taiwan, etc., and hence hospitals are more focused on providing low-cost medical care. Thus, under such conditions, focus on advanced medical devices like surgical staplers remain low, mainly when hand suturing (stitching) is still a popular method for wound closure.
o The key players in the Asia-Pacific surgical staplers market are Ethicon (Johnson & Johnson), Covidien (Medtronic), 3M, B.Braun, Dextera Surgical, CONMED, etc.
What’s covered in the report?
1. Overview of the Asia-Pacific surgical staplers market
2. Analysis of the value chain of surgical staplers
3. Historical, current and forecasted market size data for the Asia-Pacific surgical staplers market
4. Historical, current and forecasted market size data for the Asia-Pacific surgical staplers market segmentation- by product – manual and powered surgical staplers market
5. Historical, current and forecasted market size data for the Asia-Pacific surgical staplers market segmentation- by type – disposable and reusable surgical staplers market
6. Historical, current and forecasted market size data for the Asia-Pacific surgical staplers market segmentation- by application – abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries
7. Historical, current and forecasted market size data for countries (India, China, Japan and South Korea) market size data for the surgical staplers market segmentations (by product- manual and powered, by type -reusable and disposable, by application- abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries)
8. Market trends in the Asia-Pacific surgical staplers market
9. Qualitative analysis of the key drivers and challenges affecting the Asia-Pacific 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)
10. Analysis of the competitive landscape and profiles of major players operating in the market
1. Get a broad understanding of the Asia-Pacific surgical staplers market
2. Get an understanding of how the surgical staplers reach the end users from the manufacturers
3. Get country-specific market size and observations for the Asia- Pacific 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. Get specific drivers and challenges for the 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)
5. Recognize major competitors’ business and market dynamics, and respond accordingly
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The Market report answers the following questions:
What is the aim of the report?
- The Asia-Pacific Surgical Staplers Market report presents the estimated market size of Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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