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India Surgical Staplers Market 2022 Industry Share, Global Sales, Growth Rate, Current Trends, Key Players, Future Business Scope and Strategies Forecast to 2031

Kenneth Research has examined the statistical and analytical approach that is required for the growth of India 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 India 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.

India 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 India surgical staplers market is expected to grow at a high CAGR through the forecast period.

India is essentially a young and populous country. Rapid urbanization is leading to an increase in the number of diseases like obesity, cardiovascular problems, and cancers in India and is contributing to the rise in the number of surgeries of the open as well as minimally invasive type are raising the demand for surgical staplers.

Cardiovascular diseases is one of the leading causes of mortality in India. The estimated age-standardized CVD death rate of 272 per 1,00,000 population in India is higher than the global average of 235 per 1,00,000 population. Also, obesity in India has almost reached an epidemic stage with morbid obesity affecting 5% of the country’s population. Consumption of processed food has become widespread in India due to its continued integration with global food markets. It is estimated that the incidence of cancer in India is to grow by 25% by 2020 (according to the cancer registry released by the Indian Council of Medical Research). These factors are readily driving the surgical stapling market since they often necessitate undergoing surgeries.

India is a growing market for surgical staplers. Indian companies like Meril Life Sciences have come up with a range of surgical staplers for various types of surgeries. Manual skin staplers are widely used to close wounds post-surgery, and more people are opting for stapling for the management of haemorrhoids.
o The India surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable surgical staplers. The reusable surgical stapler segment is expected to grow at a higher CAGR during the forecast period (2018-2023).
o The India surgical staplers market is further segmented based on its applications- abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries.

Key growth factors:

o The launch of public healthcare programs, clubbed with increasing private wealth is expected to boost the country’s healthcare spending. The government in the National Health Policy 2017, has proposed to increase public health spending to 2.5% of the GDP, which is expected to boost the demand for advanced medical technologies and devices like surgical staplers.
o The Central Drugs Standard Control Organisation (CDCO) has recognised surgical staplers as a drug recently so that they can strictly regulate the import, manufacture and sale of this class of products as drugs under the Drugs and Cosmetics Rules. This will boost the development of the surgical staplers market.

Threats and key players:

o Affordability is an issue in India, and that is why 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 Health insurance penetration is quite low in India. It has 3.2% insurance penetration, as compared to the U.S. at 7.8% as of 2015. This might therefore, act as a challenge to the growth of surgeries and adoption of surgical staplers.
o The key players in the India surgical staplers market are Ethicon (Johnson & Johnson), Covidien (Medtronic), 3M, B.Braun, Meril Lifesciences, Lotus Surgical, etc.

What’s covered in the report?

1. Overview of the India surgical staplers market
2. Analysis of the value chain of surgical staplers
3. Historical, current and forecasted market size data for the India surgical staplers market
4. Historical, current and forecasted market size data for the India surgical staplers market segmentation- by product – manual and powered surgical staplers market
5. Historical, current and forecasted market size data for India surgical staplers market segmentation- by type – disposable and reusable surgical staplers market
6. Historical, current and forecasted market size data for the India surgical staplers market segmentation- by application – abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries
7. Market trends in the India surgical staplers market
8. Qualitative analysis of the key drivers and challenges affecting the India 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

Why buy?

1. Get a broad understanding of the India surgical staplers market
2. Get an understanding of how the surgical staplers reach end users from the manufacturers
3. 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)
4. 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 India 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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