Kenneth Research has examined the statistical and analytical approach that is required for the growth of North 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 North 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.
North 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 rapid increase in the number of diseases like obesity, cardiovascular problems, and cancer, in North America 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 region, are raising the demand for surgical staplers. The North America surgical staplers market is expected to grow at a CAGR of 7.9% leading to a revenue of USD 2.37 Bn by 2023.
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 became newly insured. Under such coverages, people are expected to opt for surgeries, which without insurances will be expensive. This is expected to raise the demand for surgical staplers in the region.
Reusable surgical staplers are gaining traction in the region from the fact that 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 the hospitals in the region as it can be categorised under the green products“ that have a reduced impact on the environment compared to single-use disposable surgical stapling devices.
The North America 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 is expected to grow at a higher CAGR during the forecast period (2018-2023).
The North 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 The percentage of the total population of North America 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 expected to drive the surgical staplers market.
o Public healthcare expenditure as a percentage of GDP has increased manifold in the U.S. in the last two decades (from 5.9% in 1995 to 8.5% in 2014) resulting in increased use of improved and superior medical equipment and technologies. Further growth is expected to raise the demands for advanced medical instruments like surgical staplers.
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 get approved by the US Food and Drug Administration (FDA), to be made available in the U.S. market is a hindrance to the growth of the market as this process can take years for the companies to be a part of an FDA trial for their equipment.
o The key players in the North America 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 North America surgical staplers market
2. Analysis of the value chain of surgical staplers
3. Historical, current and forecasted market size data for the North America surgical staplers market
4. Historical, current and forecasted market size data for the North America surgical staplers market segmentation- by product – manual and powered surgical staplers market
5. Historical, current and forecasted market size data for the North America surgical staplers market segmentation- by type – disposable and reusable surgical staplers market
6. Historical, current and forecasted market size data for the North 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 (U.S. and Canada) 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 North America surgical staplers market
9. Qualitative analysis of the key drivers and challenges affecting the North 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 North 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 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 North 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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