North America $2.3 Bn Surgical Staplers Market to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 2, 2018--The “North America Surgical Staplers Market (2018-2023)” report has been added to ResearchAndMarkets.com’s offering.
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.
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.
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: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. 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: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. 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. The key players in the North America Surgical Staplers market are Ethicon (Johnson & Johnson), Covidien (Medtronic), 3M, B.Braun, Dextera Surgical, Intuitive Surgical, etc.
Key Topics Covered:
Chapter 1: Executive Summary
Chapter 2: Introduction
Chapter 3: North America Surgical Staplers Market Overview
Chapter 4: North America Surgical Staplers Market Segmentation - By Product
Chapter 5: North America Surgical Staplers Market Segmentation - By Type
Chapter 6: North America Surgical Staplers Market Segmentation - By Application
Chapter 7: North America Surgical Staplers Market - Major Segmentations - By Countries
Chapter 8: Competitive Landscape
Chapter 9: Conclusion
Chapter 10: Appendix
Companies MentionedJohnson & Johnson B Braun 3M Dextera Surgical Intuitive Surgical Smith & Nephew CONMED Medtronic Purple Surgical Grena Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/qw9bvb/north_america_2?w=4
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Related Topics:Wound Care
INDUSTRY KEYWORD: HEALTH GENERAL HEALTH
SOURCE: Research and Markets
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PUB: 10/02/2018 02:18 PM/DISC: 10/02/2018 02:18 PM