November 25th, 2020 Coherent Market Insights Releases
Surgical staplers and staples are used both externally and internally. Removable skin staples are medical devices, used externally to close wounds under high tension, including wounds on the scalp or the trunk of the body. Surgical staplers for internal use are regulated as Class I medical devices, which do not require a premarket submission to the U.S. Food and Drug Administration.
The global surgical stapling devices market is estimated to account for US$ 4,363.6 Mn in terms of value by the end of 2027.
Global Surgical Stapling Devices Market: Drivers
Increasing preference for surgical stapling devices is expected to propel growth of the global surgical stapling devices market over the forecast period. Surgical stapling devices are preferred over conventional suturing devices during laparoscopic surgeries, as suturing becomes difficult when a surgeon is operating in 3-dimensional plane while concentrating on 2-dimentional plane. Thus, surgeons get the required accuracy and precision while operating with surgical stapling devices.
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Global Surgical Stapling Devices Market: Opportunities
Introduction of stapling devices with absorbable staplers is expected to offer lucrative growth opportunities for players in the global surgical stapling devices market. Absorbable staplers are comprised of a co-polymer of polylactic acid and polyglycolic acid, (PLA/PGA), which is absorbed over a period of 4-6 weeks.
Global Surgical Stapling Devices Market: Restraints
Functional failure during stapling is expected to hinder the market growth. There are several incidences wherein the stapling devices fail to fire the stapler pin into the tissue to be stapled. This may cause due to improper firing of the stapling pin because of the defect in the stapling devices.
The global surgical stapling devices market was valued at US$ 2,399.0 Mn in 2019 and is forecast to reach a value of US$ 4,363.6 Mn by 2027 at a CAGR of 7.8% between 2020 and 2027. Increasing preference for surgical stapling devices is expected to propel growth of the global surgical stapling devices market over the forecast period.
Powered Surgical Stapling Device segment held dominant position in the global surgical stapling devices market in 2019, accounting for 61.2% share in terms of value, increasing product launches is expected to assist the segment growth during the forecasted period.
Disposable Surgical Stapling Devices segment held dominant position in the global surgical stapling devices market in 2019, accounting for 66.9%, the segment growth is attributed to increasing demand for disposable stabling devices in developing economies.
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The market is witnessing product recalls. For instance, in October 2019, Ethicon, a subsidiary of Johnson & Johnson, issued a Class I recall of its Echelon Flex Endopath staplers after the product failed to completely form staples.
The market is witnessing several M&A activities. For instance, in October 2019, HJ Capital 1, the parent company of SeCQure Surgical Corporation, acquired the biosurgery business of Atrium Medical, a subsidiary of Getinge.
Global Surgical Stapling Devices Market: Competitive Landscape
Major players operating in the global surgical stapling devices market include Medtronic plc, Johnson & Johnson, 3M Company, Aesculap, Inc. (B. Braun), SeCQure Surgical Corporation, Purple Surgical Holdings Limited, Meril Life Sciences Pvt. Ltd., and Grena Ltd.
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Global Surgical Stapling Devices Market: Key Developments
June 2019: Medtronic Plc issued select recall of its Endo GIA surgical staplers over potential missing components
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