USD 5.34 Billion
Report ID:
SQMIG35A2964 |
Region:
Global |
Published Date: November, 2024
Pages:
182
|Tables:
62
|Figures:
70
Surgical Stapling Devices Market size was valued at USD 5.34 Billion in 2023 and is poised to grow from USD 5.84 Billion in 2024 to USD 11.91 Billion by 2032, growing at a CAGR of 9.33% during the forecast period (2025-2032).
The main driver for market growth is the rising preference for staples over sutures. Many manufacturers have successfully launched staplers designed for endoscopic surgery with new technologies. These are employed in various specialties, for instance, tissue and wound treatment, gastrointestinal, thoracic, and gynecological surgery. This demand for surgical staplers is expected to rise because of the increasing bariatric treatments and endoscopic procedures with advanced technologies. Moreover, the rising demand for wound and tissue care accompanied by the emergence of powered surgical instruments will increase surgical stapler usage. In addition, another reason for increased demand for stapling instruments would be due to an increased incidence of chronic conditions. Chronic diseases include cancer, heart disease, neurological disorders, and urological illnesses among others. According to the World Health Organization report 2023 that is released in September, non-communicable diseases account for nearly 40 million deaths yearly worldwide, or 74% of all deaths. Besides, nearly 17.9 million people die globally due to cardiovascular diseases (CVD), which cause the largest proportion of mortality from non-communicable diseases. Therefore, one could expect that the presence of significant patient flow with chronic diseases will excite further development of the surgical stapling devices market in the next years.
Global Market Size
USD 5.34 Billion
Largest Segment
Hospitals
Fastest Growth
Disposable
Growth Rate
9.33%
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Global Surgical Stapling Devices Market is segmented by Product, Type, end user and region. Based on Product, the market is segmented into Powered, and Manual. Based on Type, the market is segmented into Disposable, and Reusable. Based on end user, the market is segmented into Hospitals, and Ambulatory Surgical Centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis By Product
In 2023, revenue was driven primarily by the manual segment. As they are more efficient and faster, manual staplers are favored because they may significantly reduce the time required to conduct surgical operations. Compared to traditional suturing methods, they close wounds more accurately because they boast a higher precision in stapling. Moreover, manual staplers are widely used in many health facilities because they are relatively cheaper compared to the powered equivalent. Many health care professionals prefer the manual stapler rather than the powered stapler because it is cheap but offers reliable performance. Manual staplers would therefore be favored due to their demonstrated effectiveness and value for money in the surgical environment.
Over the projection period, the powered segment is expected to record the fastest CAGR of 9.65%. This is partly due to more surgical procedures being carried out globally with a resulting heightened demand for superior and efficient stapling technologies. Many significant benefits of powered staplers are that they work steadily and smoothly without forcing on the operator's hands, improve the accuracy of surgery, and minimize the operator's work-related fatigue. These devices come in all shapes and sizes, including linear and circular systems and offer many more opportunities for more complex operations. Powered staplers would add features and ease of use that would speed acceptance and spur significant growth in this market.
Analysis By End Use
Hospitals have been the most significant revenue contributor in the year 2023. This is attributed to several factors, including hospital count and favorable rules of reimbursement for various surgeries. The American Hospital Association reported that the U.S. counted approximately 6,090 hospitals in 2020, and this number rose to around 6,120 in 2024. The hospitals lead the league of the biggest consumers of surgical stapling devices. This segment is dominated by established reimbursement structures and wide-ranging service offerings.
The fastest growth during the forecast period is expected in the Ambulatory Surgical Centers(ASCs) segment with a growth rate of 9.54%. Major causes for this boom are the influx of advanced surgical centers, enormous R&D spendings made by leading groups, and the various types of advantages these centers hold over traditional hospitals. ASCs are believed to take a high volume of surgeries, stay of patients for a short time, and cost of treatment being less. Based on these advantages over hospitals, ASCs are increasingly becoming a part of the health care system. With cost-cutting and operating efficiency expected to increase, sharp growth was expected to drive the segment of the ASCs.
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North America accounted for the largest share of 29.85% in the global surgical stapling devices market revenue in 2023. Factors contributing to this include the rising incidence of chronic diseases such as cardiac conditions and the presence of major industry players, including Intuitive Surgical, 3M, CONMED Corporation, and Medtronic. Due to having significant competitors, greater emphasis being placed on making treatments more efficient, and the fact that high investments are being made in R&D, surgical stapling devices had been a considerable part of the North American market in 2023. Significant players of the industry are situated in the US, including Johnson & Johnson, Intuitive Surgical, 3M, CareFusion Corporation, and a Becton Dickinson Company.
Factors such as raising healthcare expenditure and industry participants' and increased focus on launching technologically advanced products are predicted to result in the surge of the Europe-based surgical stapling devices market at a profitable CAGR during the forecasted period. The increase in demand for minimally invasive surgery, an enhanced knowledge of bariatric procedures, and an upsurge in the rates of chronic illnesses are expected to propel the UK surgical stapling devices market to grow at the fastest CAGR during the forecast period. Furthermore, Increased demand for minimally invasive surgeries and growing importance on the healthcare system of the country by the government is going to contribute more to the surgical stapling devices market in France at a strong compound annual growth rate during the projected period. Moreover, due to increased demand for minimally invasive procedures and increased awareness towards bariatric operations the German surgical stapling devices market is poised to grow at a fast CAGR over the course of the forecast period.
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Drivers
Rising Technological Advancements
Rising Number of Surgical Procedures
Restrains
High Cost of Powered Staplers
Risk of Complications and Learning Curve
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New businesses and existing businesses fuel competition within the global market. In this direction, these players are making use of various strategies such as joint ventures, new product launches, and mergers & acquisitions. Competition in this market is expected to deteriorate further with more industry solutions being cleared up by regulatory agencies such as the FDA.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the surgical stapling devices market is evolving rapidly with the advancement of less invasive surgical methods, technical innovation, and growing attention to value-for-money options. Improvements in stapling technologies include enhanced manual instruments and motorized staplers that make the processes of surgeries much more accurate and efficient. The demand for specialized stapling solutions is further being driven by a shift towards less-intrusive treatments. Healthcare providers are eager to find effective ways of reducing expenditure without compromising the quality of care simultaneously. A continued healthy balance between up-to-date technology and expenditure concerns propels future innovations and further increases the application scope of surgical stapling devices globally, in turn forming a dynamic industry.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 5.34 Billion |
Market size value in 2031 | USD 10.89 Billion |
Growth Rate | 9.33% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Surgical Stapling Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Surgical Stapling Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Surgical Stapling Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Surgical Stapling Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35A2964
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