Kenneth Research has examined the statistical and analytical approach that is required for the growth of Latin America 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 Latin America 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.
Latin America 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, etc. The Latin America surgical staplers market is expected to grow at a CAGR of 6.70%, leading to a revenue of USD 0.21 Bn by 2023.
Most countries in Latin America are experiencing epidemiologic and nutrition transitions. The epidemiologic transition is characterised by a shift from highly infectious diseases and mortality to increase of non-communicable diseases. The nutrition transition is due to a shift from high prevalence of malnutrition to predominance of diet-related non-communicable diseases like obesity. Obesity increases the probability of having heart problems due to rise in cholesterol level, etc., thereby raising the possibility of requiring cardiac surgeries as well as bariatric surgeries for stomach fat reduction. The ageing of Mexico’s population and an increase in chronic diseases such as cancer and diabetes (at 56 percent and 219 percent, respectively, between 1980 and 2011), are driving up demand for surgeries in Latin America. Also, there is a surge in health insurance penetration in the region of late. In 2016, AON announced a deal to acquire Admix to build its position in the growing private health insurance market in Latin America. All these factors are driving the growth of the surgical staplers market in the region.
The Latin America surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable surgical staplers. The manual surgical staplers dominated the market share in 2017 while the reusable surgical is expected to grow at a higher CAGR during the forecast period (2018-2023).
The Latin America 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.
Key growth factors:
o With increased globalisation, life expectancy is higher in Latin America, and with that, the burden of non-communicable diseases like hypertension, diabetes, cancer, and obesity has increased as well. Also, ageing of the overall population in Latin America will give rise to age-related problems like weak bones, heart problems, etc. These factors will lead to an increase in the number of surgeries in the region.
o Additionally, from 2017, the region was expected to have resume economic growth after a period of recession. Per capita income is expected to grow at a modest growth rate. This is expected to aid the growth of the healthcare sector and boost the adoption of surgical staplers.
Threats and key players:
o Latin American countries maintain high tariffs on some medical products, creating complications for medical devices exporters from other regions. This might challenge the import and use of surgical staplers manufactured by big U.S. companies like Ethicon.
o Due to the country’s high unemployment rate, many beneficiaries opted out of the private health insurance sector in between 2014 to 2016 to eliminate the payment of premium. Also, to cut down on expenses, companies in Brazil are continuously replacing their employees’ health insurance plans with cheaper coverage plans. This might lead people to opt for less number of surgeries, and that would hinder the adoption surgical staplers.
o Some of the key players in the Latin America Surgical Staplers market are Covidien (Medtronic), Ethicon, Grena, B.Braun, Dextera Surgical, Intuitive Surgical, etc.
What’s covered in the report?
1. Overview of the Latin America surgical staplers market
2. Analysis of the value chain of surgical staplers
3. Historical, current and forecasted market size data for the Latin America surgical staplers market
4. Historical, current and forecasted market size data for Latin America surgical staplers market segmentation- by product – manual and powered Surgical Staplers market
5. Historical, current and forecasted market size data for Latin America surgical staplers market segmentation- by type – disposable and reusable surgical staplers market
6. Historical, current and forecasted market size data for Latin America 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 (Brazil, Argentina and Rest of Latin America) 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 Latin America surgical staplers market
9. Qualitative analysis of the key drivers and challenges affecting the Latin America 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 Latin America 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 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)
4. 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)
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 Latin America 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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