Anastomosis Devices Market Is Estimated To Witness High Growth...

Anastomosis Devices Market Is Estimated To Witness High Growth Owing To Rising Number Of Surgeries

Posted 2024-01-23 12:25:46

Anastomosis devices are surgical staplers, surgical sutures, and auxiliary materials used during surgical procedures to join tissues and organs in the body. Anastomosis devices allow surgeons to perform complex procedures efficiently with improved precision and minimized risk of leakage. Some key applications of anastomosis devices include coronary artery bypass grafting, gastrointestinal surgery procedures such as bowel resection and hemorrhoidectomy. The devices help join together tissues that are normally separated, such as blood vessels or pieces of the intestine or bowel.

The global anastomosis devices market is estimated to be valued at US$ 25.81 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Rising number of surgical procedures is projected to drive the growth of anastomosis devices market over the forecast period. With significant increase in life expectancy globally, the pool of aging population has increased considerably. Aging increases the risk of developing various lifestyle diseases and medical conditions that often require surgical interventions. According to WHO, the number of surgical procedures performed annually is projected to rise from 243 million in 2012 to over 320 million by 2030. Growing prevalence of gastrointestinal disorders, cardiovascular diseases and cancer is fueling the demand for anastomosis devices. Furthermore, technological advancement in anastomosis devices allowing for minimally invasive surgeries with improved efficiency and safety is supplementing their adoption. However, high costs associated with these specialized surgeries and devices remains a major restraint.

SWOT Analysis

Strength: The Anastomosis Devices Market has strong growth potential owing to the rising geriatric population and increasing prevalence of target diseases. Technological advancements have improved the efficacy and success rates of anastomosis procedures. Established market players offer a wide range of innovative anastomosis products.

Weakness: High costs associated with anastomosis surgeries can limit their adoption in price sensitive regions. Device failures and complications of the procedures are also possible risks.

Opportunity: Emerging economies provide lucrative opportunities for market expansion due to growing healthcare investments and demand. Miniaturization of devices and robot-assisted surgeries are expanding applications of anastomosis products.

Threats: Stringent regulatory approvals and reimbursement policies can affect product launches. Economic slowdowns impact healthcare funding and spending.

Key Takeaways
The global Anastomosis Devices Market Demand is expected to witness high growth. The market was valued at US$ 25.81 Mn in 2024 and is projected to reach US$ 43.40 Mn by 2031, expanding at a CAGR of 6.2% over the forecast period of 2024 to 2031.

North America currently dominates the global market and is expected to maintain its leading position throughout the forecast period. Favorable reimbursement policies, technologically advanced healthcare infrastructure, and rising prevalence of target diseases are major factors driving the North American market. However, Asia Pacific is projected to emerge as the fastest growing regional market owing to increasing medical tourism, rising healthcare investments, and growing adoption of advanced surgery devices.

Key players operating in the Anastomosis Devices Market are AGSCO Corporation, Carborundum Universal Ltd., Entegris Inc., ESD-SIC b.v., ESK-SIC GmbH, Gaddis Engineered Materials, Grindwell Norton Ltd., Norstel AB, Saint-Gobain Ceramics Materials GmbH, and Snam Abrasives Pvt. Ltd. The market is characterized by the presence of several large and mid-size players competing to gain major shares and increasing presence in high-growth emerging markets. Players are focusing on new product launches, expansion strategies, and strengthening their distribution networks globally.

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