NEW YORK, May 28, 2018 (GLOBE NEWSWIRE) -- The surgical staplers market size is projected to grow at a CAGR of 7.7% during 2018-2023, to reach $5.4 billion by 2023. The growth in the market is led by increasing surgical procedures, introduction of technologically advanced surgical staplers, growing number of bariatric and other weight loss surgeries, and increasing preference for surgical staplers over traditional sutures.
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Being overweight and obesity are major risk factors associated to various diseases such as, cardiovascular diseases, diabetes, musculoskeletal disorders and some cancers. It has been also estimated that out of all the global deaths, 5% are due to obesity that leads to a negative impact of around $2.0 trillion, on global economy. Subsequently, an increase in the rate of bariatric surgeries over time has also been observed. According to ASMBS, the estimated number of bariatric surgeries stood at 196,000 in 2015 as compared to 158,000 in 2011, in the U.S. Bariatric and other weight loss related surgeries use surgical staplers to close the surgical openings, therefore, an increase in the number of bariatric surgeries drives the growth of the global surgical staplers market.
Europe was the second largest market for surgical staplers, accounting for 29.7% of the global market in 2016. The growth in the European surgical staplers market is mainly attributable to the increasing aging population and rising number of chronic diseases which increase the number of surgeries to be performed. Among the European nations, France is expected to be the fastest growing market for surgical staplers in Europe during the forecast period. The high growth is mainly due to the increasing number of surgical procedures in the country.
Key players in the surgical staplers market are entering into partnerships with other firms to gain a larger share in the market. For instance, in October 2016, Dextera Surgical Inc. (Dextera) entered into a marketing and distribution agreement with B. Braun Surgical S.A. (B. Braun Aesculap Group) to introduce Dextera’s MicroCutter 5/80 surgical stapler in Spain, through B. Braun Surgical S.A.’s laparoscopic unit. The agreement was aimed to expand B. Braun’s comprehensive portfolio of surgical devices.
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Some of the key players operating in the surgical staplers market include Dextera Surgical Inc., Ethicon Inc., Intuitive Surgical Inc., Frankenman International Ltd., Smith & Nephew Plc, Braun Melsungen AG, Becton, Dickinson and Company, B. Zimmer Biomet Holdings Inc., Conmed Corporation and Meril Life Science Pvt. Ltd.
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