Anastomosis Devices Market Share, Size, Trends, Industry Analysis Report, By End-Use (Hospitals, Ambulatory Surgical Centers & Clinics); By Application; By Type; By Region; Segment Forecast, 2022 - 2030
- Published Date:Jun-2022
- Pages: 111
- Format: PDF
- Report ID: PM2436
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global anastomosis devices market was evaluated at USD 3.63 billion in 2021 and is expected to grow at a CAGR of 5.7% during the forecast period. The growth of this market is attributed to the increase in the number of cardiac and gastrointestinal surgeries worldwide. Besides this, the rising geriatric population and the growing prevalence of coronary heart devices are positively influencing the industry growth.
Know more about this report: Request for sample pages
Moreover, the rapid explosion of COVID-19 disease globally has negatively impacted the demand for anastomosis devices market. The COVID 19 pandemic has adversely affected the development of the anastomosis devices market as there was a shortage of medical equipment needed to perform surgeries.
A gap was witnessed between the demand and supply of anastomosis devices, which hindered the growth of the healthcare sector. However, as the situation is significantly improving, the demand for anastomosis devices market is anticipated to showcase considerable growth in the coming years.
Industry Dynamics
Growth Drivers
The growth of the industry is primarily driven by the rising prevalence of cardiovascular and gastrointestinal diseases. According to the WHO survey reports, 17.9 million people died due to cardiovascular diseases in 2019. The COVID patients also showed gastrointestinal symptoms. In line with this, the increasing incidence of target diseases and the growing number of surgical procedures significantly contribute to the global industry growth.
Furthermore, the rising demand for high-quality minimally invasive surgeries is positively influencing the industry's growth. Apart from this, the growing geriatric population and increasing healthcare expenditure by the government of various countries are providing a boost to the industry growth.
Several manufacturers are undertaking technological advancements, such as developing a sutureless anastomosis device by Jomed International, Helsingborg, Sweden, to perform the quick sutureless vascular anastomosis. Besides this, unhealthy food habits and the sedentary lifestyle of individuals are catalyzing the industry's growth.
The COVID-19 pandemic had an unfavorable impact on the demand for anastomosis equipment. There was a shortage of devices needed to perform complex surgical procedures. However, with the current improving situation, the demand for the industry is predicted to rise significantly as COVID has increased the number of cardiovascular cases worldwide.
Moreover, many companies, such as Becton, CONMED Corporation, Meril Life Sciences, etc., are investing heavily in research and development (R&D) activities to develop advanced anastomosis equipment for better clinical results. Additionally, the growing requirement for devices in other orthopedic, gynecological, and ophthalmic surgeries is creating a positive outlook for the industry.
Know more about this report: Request for sample pages
Report Segmentation
The market is majorly segmented on the basis of type, application, end-use, and region.
|
By Type |
By Application |
By End-Use |
By Region |
|
|
|
|
Know more about this report: Request for sample pages
Insight by Type
The disposable segment held the largest revenue share in 2021, owing to the ease of use and greater availability of a wide array of disposable anastomosis devices in the industry. Various advancements in technology have improved the adoption rate of anastomosis devices globally.
However, the demand for reusable anastomosis devices is also increasing due to the rising number of cardiovascular surgeries. They will capture the industry in the future as surgeons in the healthcare sector are consistently looking out for cost-effective ways. This segment is further significantly contributing to the segment’s growth.
Insight by Application
The cardiovascular surgery segment is projected to witness the highest growth rate over the study period. This is primarily attributed to the rising prevalence of cardiovascular diseases worldwide. Besides this, surgeons are widely using highly non-invasive techniques to carry out surgical procedures. Moreover, the gastrointestinal surgery segment is expected to contribute the most considerable revenue due to the increasing number of patients suffering from colorectal cancer.
Geographic Overview
North America is the greatest revenue contributor in the global market due to the increasing prevalence of cardiovascular diseases in the region. The demand for the industry has been exceeded by increasing healthcare expenditure by the government. The rising number of patients having cancer and the growing number of research and development activities carried out by the market players are further strengthening the industry growth.
Furthermore, favorable medical assistance and growing awareness among the patients about the benefits of anastomosis devices are providing an impetus to the industry growth in the region. Additionally, the Asia Pacific is expected to substantially rise during the forecast period due to the development of healthcare infrastructure, increasing healthcare expenditure by the government, inflating disposable incomes, growing geriatric population, and strong economic growth. Furthermore, the growing health awareness among individuals is expected to strengthen the market growth.
The key contributors to the APAC region are China, India, and Japan, which are likely to witness the highest CAGR over the predicted period. The increasing number of hospitals coupled with the growing demand for anastomosis devices are anticipated to drive the market. The major companies are adopting various strategies to capture a significant share in the market. Additionally, an increasing number of surgeries and an aging population are contributing significantly to the market growth in the region.
Competitive Insight
The major players operating in the global market include Aesdex, B. Braun, Ethicon, Getinge, LivaNova PLC, MAQUET Holding, Medtronic, Novare Surgical Systems, Peters Surgical, and Vitalitec International.
Anastomosis Devices Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2021 |
USD 3.63 Billion |
|
Revenue forecast in 2030 |
USD 5.89 Billion |
|
CAGR |
5.7% from 2022 - 2030 |
|
Base year |
2021 |
|
Historical data |
2018 - 2020 |
|
Forecast period |
2022 - 2030 |
|
Quantitative units |
Revenue in USD Billion and CAGR from 2022 to 2030 |
|
Segments covered |
By Type, By Application, By End-Use, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Key companies |
Aesdex, B. Braun, Ethicon, Getinge, LivaNova PLC, MAQUET Holding, Medtronic, Novare Surgical Systems, Peters Surgical, and Vitalitec International |
© 2024 Polaris Market Research and Consulting. All rights reserved
