Dublin, May 11, 2023 (GLOBE NEWSWIRE) -- The "Surgical Stapling Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Type, Application, and End User" report has been added to ResearchAndMarkets.com's offering.
The surgical stapling devices market is expected to reach US$ 7,747.1 million by 2028 from US$ 4,795.8 million in 2022; it is estimated to grow at a CAGR of 8.3% from 2022 to 2028.
Increase in wounds & surgical procedures and new product launches & strategic collaborations are among the key forces driving the surgical stapling devices market. However, increase in product recalls & high cost of surgical stapling devices are hindering the surgical stapling devices market growth.
A significant rise in the number of surgical procedures performed at hospitals has compelled medical device manufacturers to develop and launch new products and obtain regulatory approvals for them. Major companies in the surgical stapling devices market allocate significant resources to research and development activities to come up with new offerings.
Some of the recent product launches and developments in the surgical stapling devices market are mentioned below.
- In October 2022, Teleflex Incorporated completed the acquisition of Standard Bariatrics, Inc., which has commercialized an innovative powered stapling technology for bariatric surgery. Teleflex acquired Standard Bariatrics for US$ 170 million at closing, with additional consideration of up to US$ 130 million that is payable upon achieving certain commercial milestones.
- In June 2022, Ethicon, a part of Johnson & Johnson MedTech, launched ECHELON 3000 Stapler in the US. It is a digitally enabled device that provides surgeons with simple, one-handed powered articulation to help address the unique needs of their patients. Designed with a 39% greater jaw aperture and a 27% greater articulation span, ECHELON 3000 gives surgeons better access and control over each transection, even in tight spaces and on challenging tissue. Combined with software that provides real-time haptic and audible device feedback, these features enable surgeons to make critical adjustments during procedures.
An increase in the number of developments and launches of such innovative products, along with business acquisitions and collaborations, boosts the growth of the surgical stapling devices market.
Type Insights - Surgical Stapling Devices Market
The surgical stapling devices market, by type, is segmented into disposable surgical staplers and reusable surgical staplers. The disposable surgical staplers segment held a larger market share in 2022 and is anticipated to register a higher CAGR during the forecast period (2022-2028).
Medical-grade plastic is the material used in disposable devices, while reusable devices are made from stainless steel and used for biomedical applications. The disposable circular suture device is used as an alternative to manual suturing during surgeries The main principle of operation is the use of titanium staples for tissue anastomosis, like a stapling machine.
Due to the development of modern technology and the improvement of the production process, the disposable circular anastomoses currently used in clinical practice are of reliable quality, easy to use, loose and elastic, especially with the advantages of fast suturing, easy operation, and a few side effects.
Most laparoscopic head staple cartridges can change direction to make them more flexible in the narrow operating space; at the same time, they are equipped with disposable safety devices to prevent the used staple cartridge from being fired again to ensure safe operation.
The Centers for Disease Control and Prevention (CDC) promotes the use of disposable devices and provides protocols to prevent the spread of pathogens. Regulatory authorities such as the US Food and Drug Administration (FDA) have also stated a few measures to ensure that set protocols for the sterilization of medical devices are strictly followed to avoid infections.
Application Insights - Surgical Stapling Devices Market
Based on application, the global surgical stapling devices market is divided into orthopedic surgery, endoscopic surgery, cardiac and thoracic surgery, abdominal and pelvic surgery, and others.
The orthopedic surgery segment held the largest share of the surgical stapling devices market in 2022 and is expected to grow at the highest CAGR during the forecast period. Surgical staples have become essential components of modern-day surgery and are generally preferred over other suture methods, especially if the cut is wide and large.
For instance, Johnson & Johnson Medtech's subsidiary Ethicon launched the next-generation digitally enabled Echelon 3000 Stapler for surgeons in the US. The new advanced surgical device has been designed to staple and transect different tissue types in open and minimally invasive surgical procedures. It is designed with a 27% bigger articulation span and a 39% bigger jaw aperture.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $4795.8 million |
| Forecasted Market Value (USD) by 2028 | $7747.1 million |
| Compound Annual Growth Rate | 8.3% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increase in Wounds and Surgical Procedures
- Launch of New Products and Strategic Collaborations Between Companies
Restraints
- Product Recalls and High Device Costs
Opportunities
- Surging Popularity of Cosmetic Surgery and Growth in Medical Tourism in Developing Countries
Companies Mentioned
- Intutive Surgical Inc.
- Medtronic Plc
- Ethicon USA LLC
- Frankenman International Ltd
- Panther Healthcare Medical Equipment Co Ltd
- B. Braun SE
- Grena Ltd
- Conmed Corp
- 3M Co
- Purple Surgical UK Ltd
For more information about this report visit https://www.researchandmarkets.com/r/ejx121
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