Transparency Market Research observes that competition in the global cutter staplers market is quite cut throat. The report predicts that it is expected to intensify further as players focus on launch of innovative products. Some of the leading companies in the global market are Johnson & Johnson Services, Inc., Purple Surgical International Ltd., Medtronic Plc., Victor Medical Instruments Co., Ltd., and Frankenman International Ltd. Companies are expected to focus on mergers and acquisitions and development of new products to widen their product portfolio in the near future.
According to the research report, the global cutter staplers market is likely to be worth US$4,368.6 mn by the end of 2025 from US$2,060.2 mn in 2016, rising at a steady CAGR of 8.8% between 2017 and 2025. As of 2016, the endo staplers segment accounted for 46.5% in 2016. This segment is estimated to grow at a steady pace in the coming years due to extensive usage of cutter staplers in various types of surgeries. In terms of geography, North America led the global market, boasting a share of about 39% in the global market.
Cutter Staplers Ensure Faster Recovery Time of Wounds thereby Boosting Market
Key driving factor includes burgeoning demand for minimally invasive procedures, Increase in adoption of surgical staplers over surgical sutures, and rise in adoption of stapling devices in robotic-assisted surgeries, etc. The number of surgical procedures have been rising over the past few years. Various factors responsible for the rise are increase in cases of cardiovascular diseases leading to high number of cardiac surgeries, growing interest of people to enhance physical appearance, which increases the number of cosmetic surgical procedures. Adoption of minimally invasive procedures is increasing due to advantages such as smaller incisions, less pain and scarring, fewer complications, shorter hospital stays, and faster recoveries.
Surgical staple sutures are the choice of surgeons for wound closure because of several advantages as compared to surgical sutured. Surgical staplers have the advantage of being more economical, quicker, and cause fewer infections than stitches. All of these factors have made a major contribution towards the growth of the global cutter staplers market. It is a well-known fact that using surgical staplers reduces the risk of infections amongst patients. Furthermore, remarkable technological advancements have introduced products that allow real-time feedback and automated responses for better understanding. The global cutter staplers market is expected to benefit tremendously from all of these factors over the forecast period.
Lack of Knowledge about Best Possible Staplers to Hamper Growth
There is educational gap among surgeons in terms of understanding the safe use of surgical staplers. Factors such as staple size, stapler diameter, tissue location and tissue compressibility, and thickness can affect the integrity of surgical staplers and patient outcomes. Such deficiencies in educational gap among surgeons is likely hamper the growth of the cutters and staplers market during the forecast period. The global market is also likely to be affected by the poor reimbursement policies, especially in the developing countries. Furthermore, lack of awareness about new and improved medical facilities is also expected to have a negative impact on the overall market.