The Anastomosis Devices Market is estimated to be valued at US$ 22.4 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Anastomosis devices are used to create an anastomosis or a connection between hollow organs, blood vessels or between the tube-like structures during surgical procedures. They help join together parts of the hollow or tubular organs or vessels that have been divided or severed. Anastomosis devices provide safe, reliable and reproducible connections and help minimize operative time and post-operative complications.

Market key trends:

Rise in minimally invasive surgeries: Minimally invasive surgery involves smaller incisions and reduced trauma to the patient compared to traditional open surgeries. There has been a substantial rise in minimally invasive surgeries globally owing to advantages such as reduced procedural pain, lower risk of infections, faster recovery time and fewer scars. Anastomosis devices are crucial instruments used for precise and reliable connections in minimally invasive procedures. The growing preference for minimally invasive techniques among patients and surgeons is expected to propel the demand for anastomosis devices over the forecast period.

Porter's Analysis

Threat of new entrants: The anastomosis devices market has high capital requirement for R&D and production facilities which poses a barrier for new entrants. However, opportunities exist for firms providing innovative technologies.

Bargaining power of buyers: The bargaining power of buyers is moderate as the demand for anastomosis devices is driven by the growing number of surgical procedures. Buyers have a good understanding of their requirements.

Bargaining power of suppliers: A few major players dominate the supply side. However, the threat of forward integration by suppliers is low as manufacturing anastomosis devices requires significant technical expertise.

Threat of new substitutes: There is a low threat of substitute products existing as anastomosis devices have well-established application in various surgical procedures.

Competitive rivalry: The market is moderately competitive with the presence of few global players. Companies compete based on product quality, innovation and geographic expansion.

SWOT Analysis

Strengths: Rising prevalence of diseases requiring surgical procedures and technological advancements in product design.

Weaknesses: High costs associated with manufacturing and risks of product failures.

Opportunities: Growth opportunities in developing countries and emerging applications in minimally invasive surgeries.

Threats: Stringent regulatory approvals and reimbursement policies.

Key Takeaways

The Global Anastomosis Devices Market Share is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing demand for minimally invasive surgeries and rising geriatric population undergoing various medical procedures.

Regionally, North America is expected to dominate the market during the forecast period. This is attributed to the rising healthcare spending and technological advancements in the region. Asia Pacific exhibits lucrative prospects for the market driven by growing medical tourism, healthcare infrastructure development and increasing disposable incomes.

Key players operating in the Anastomosis Devices Market are Medtronic, Liva Nova PLC, Dextera Surgical Inc., Ethicon US, LLC., Synovis Micro Alliance, Inc., Vitalitec International Inc., and MAQUET Holding B. V. & Co. KG., among others. The companies are focusing on new product launches, acquisitions and geographical expansion to strengthen their market presence.

Read more

https://healthcarelatesteditionnews.blogspot.com/2023/12/the-anastomosis-devices-market-is.html