Number of pages: 100 | Report Format: PDF | Published date: February 13, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market Size Value in 2021 |
US$ 4.5 billion |
Revenue Forecast in 2030 |
US$ 6.4 billion |
CAGR |
4% |
Base Year For Estimation |
2021 |
Forecast Year |
2022-2030 |
Historical Year |
2020 |
Segment Covered |
Usage, Type, Application, and Region |
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global anastomosis devices market was valued at US$ 4.5 billion in 2021 and is expected to register a revenue CAGR of 4% to reach US$ 6.4 billion by 2030.
Anastomosis Devices Market Fundamentals
Anastomosis devices are often utilized in coronary artery bypass procedures to improve the left ventricular system’s operational efficiency and boost the patient’s survival rate. Anastomosis is performed by surgeons utilizing anastomosis devices during procedures, such as gastrointestinal and cardiac surgery.
The global anastomosis devices market is expected to expand at a significant revenue CAGR during the forecast period due to the rising prevalence of various cardiovascular illnesses and the growing elderly population. The anastomosis devices market is undergoing significant growth and transformation, driven by a number of key trends and developments. The trend towards minimally invasive surgical procedures has been increasing in recent years, driving demand for anastomosis devices. Minimally invasive procedures offer a number of benefits over traditional open surgery, including reduced scarring, faster recovery times, and improved patient outcomes.
Advancements in technology, including the development of new and innovative products, are driving the anastomosis devices market. For instance, there has been a recent trend toward developing sutureless anastomosis devices, designed to improve the efficiency and accuracy of anastomosis procedures. Patient safety is a growing concern in the medical device industry, and the anastomosis devices market is no exception. Companies are increasingly focusing on developing safe and effective products, with features that minimize the risk of complications and improve patient outcomes.
The prevalence of chronic diseases, such as cardiovascular disease and cancer, is increasing globally, driving the demand for anastomosis devices. As these diseases often require surgical intervention, the demand for anastomosis devices is expected to increase in response. The trend towards home healthcare is increasing globally, with patients seeking more convenient and cost-effective healthcare solutions. As a result, the demand for anastomosis devices that can be used in a home healthcare setting is expected to increase in the next few years.
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Anastomosis Devices Market Dynamics
The growing number of individuals diagnosed with cardiovascular and gastrointestinal illnesses across multiple countries is likely to drive the adoption of anastomosis devices. The devices routinely used in coronary artery bypass surgeries are expected to help improve the functioning of the left ventricular system and increase a patient’s chances of survival. Furthermore, patients increasingly demand minimally invasive surgical procedures that employ cutting-edge technologies and gadgets to improve their medical condition and shorten their recovery time. As a result, constant advancements in trans-catheters and drug-eluting stents are being developed, which are projected to fuel the adoption rate of anastomosis devices.
Anastomosis Devices Market Ecosystem
The global anastomosis devices market has been analyzed from four perspectives: usage, type, application, and region.
Anastomosis Devices Market by Usage
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Based on usage, the global anastomosis devices market has been segmented into disposable and reusable.
The disposable category is expected to have the highest revenue share of the anastomosis devices market during the forecast period. The huge variety of disposable anastomotic items available in the market, as well as the growing business sector infiltration of these gadgets, is driving the expansion of this segment. Furthermore, the majority of key market players are involved in the production of disposable items, resulting in a robust inventory network for these products.
Anastomosis Devices Market by Type
Based on type, the global anastomosis devices market has been segmented into surgical staplers, surgical sutures, surgical sealants & adhesives, and others.
The surgical staplers segment accounted for a considerable market revenue share. It is expected to develop significantly during the forecast period as staplers provide different advantages over surgical sutures and surgical sealants and adhesives. Some of them are ease of usage, low risk of complications, less blood loss or leakage, and shorter operating times.
Anastomosis Devices Market by Application
Based on application, the global anastomosis devices market has been segmented into cardiovascular surgery, gastrointestinal surgery, and others.
The cardiovascular surgery segment dominates the market, which is primarily driven by an increase in the number of cardiovascular surgeries conducted and the incidence of chronic conditions, such as heart disorders and gastrointestinal disorders. Cardiovascular diseases (CVDs) are the major cause of death worldwide.
Anastomosis Devices Market by Region
Based on region, the global anastomosis devices market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America has the highest revenue share of the global market. The increasing prevalence of cardiovascular diseases and the rising number of R&D organizations adopted by driving territorial organizations are expected to promote local market expansion. Furthermore, increased access to clinical guidelines, greater information on CVD and CHD, rising disposable income, and a solid R&D framework contribute to development.
The major factors driving revenue growth in North America are an increase in the prevalence of multiple cardiovascular indications, such as coronary artery disease, strokes, and gastric cancers, including adenocarcinoma, lymphoma, and others, increasing surgical procedures, which increase the demand for anastomosis devices. Furthermore, the American Heart Association reported in January 2020 that nearly half of the American population has heart conditions, such as high blood pressure and heart disease.
Anastomosis Devices Market Competitive Landscape
The prominent market players in the global anastomosis devices market include:
The anastomosis devices industry is highly competitive, with numerous companies competing to gain a leading position in the global market. These companies use various strategies, including collaborations, mergers and acquisitions, partnerships, and product launches, to increase their market presence and boost their revenue share in the market. One such company is Medtronic, which has launched many innovative products, such as the Endo GIA stapler and the Eleform stapler, designed to improve the accuracy and efficiency of anastomosis procedures. In addition to established players, the market also has a growing number of new and regional players who aim to establish themselves by introducing innovative products and offering competitive pricing strategies. Due to the increasing number of players and the growing demand for minimally invasive surgical procedures, the competition in the anastomosis devices market is expected to remain fierce in the future. Market players are expected to continue to concentrate on developing innovative products and enhancing the efficiency of their devices to maintain their competitive advantage.
Anastomosis Devices Market Strategic Developments
The increase in the number of surgical procedures such as colectomy and CABG and the availability of technologically advanced products and reimbursement policies are propelling revenue growth in the global market.
Asia Pacific is projected to be the fastest-progressing market for anastomosis devices.
The global anastomosis devices market is expected to be valued at US$ 6.4 billion by 2030.
The global anastomosis devices market is expected to register a revenue CAGR of 4% during the forecast period from 2022 to 2030.
Johnson & Johnson, Medtronic plc, B. Braun Melsungen AG, Smith & Nephew, and Becton, Dickinson and Company are among the top market players.
*Insights on financial performance is subject to availability of information in public domain