According to market research report, Anastomosis Device Market is projected to grow from USD 3.0 billion in 2022 to USD 4.4 billion by 2027, at a CAGR of 8.3% from 2022 to 2027 according to a new report by MarketsandMarkets™.
The increasing incidence of target diseases and the subsequent growth in the number of surgical procedures, the growing demand for minimally invasive surgeries, and technological advancements are the major factors driving the market’s growth. Emerging economies such as China, Japan, and India are providing profitable opportunities for the players operating in the market.
Globally, a staggering 310 million major surgeries are performed annually—around 40 to 50 million in the US and 20 million in Europe. The growing number of surgeries can be attributed to the rapidly growing senior population worldwide and the increasing prevalence of chronic diseases.
Apart from the rising geriatric population, the prevalence of lifestyle disorders such as cardiac diseases, diabetes, hypertension, obesity, and cancer is also increasing globally—not only among the elderly but also among younger people. With the rise in the overall number of such surgeries performed globally, the demand for anastomosis devices is also set to rise. These devices aid in faster recovery, minimal scarring, and reduced blood loss.
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“Surgical Staplers segment accounted for the largest share of the anastomosis devices market, by product.”
The anastomosis device market is segmented into surgical staplers, surgical sutures, and surgical sealants & adhesives. In 2021, the surgical staplers segment accounted for the largest share of the market. The surgical staplers market is further segmented into manual and powered surgical staplers. In 2021, the manual surgical staplers segment accounted for the largest share of the surgical staplers market. The large share of this segment can be attributed to the wide range of advantages associated with these devices, such as ease of use, minimal risk of complications like blood loss/leakage, shorter operating time, and reduced hospital costs.
“Cardiovascular & Thoracic Surgery accounted for the largest share in the market, by application.”
The anastomosis device market has been segmented into cardiovascular & thoracic surgery, gastrointestinal surgery, orthopaedic surgery, gynaecological surgery, and other applications. In 2021, the cardiovascular & thoracic surgery segment accounted for the largest share of the temperature monitoring market. Market growth can largely be attributed to the many cardiovascular surgeries performed across the globe because of the high incidence of cardiovascular disease (CVD), the increasing number of coronary and percutaneous cardiology interventions, and the growing adoption of anastomosis devices in these surgical procedures.
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“North America is the largest regional market for anastomosis devices.”
The global anastomosis device market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the largest share of the market. The large share of North America in the global market can be attributed to the positive reimbursement scenario in the US, the rising incidence of cancer, and the implementation of a new funding model for Canadian hospitals.
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The key players in anastomosis device market are Johnson & Johnson (US), Medtronic Plc (Ireland), B. Braun Melsungen (Germany), Intuitive Surgical Inc. (US), Boston Scientific Corporation (US), Artivion, Inc. (US), Smith & Nephew Plc (UK), Becton, Dickinson and Company (US), CONMED Corporation (US), Advanced Medical Solutions Group Plc (UK), Baxter International, Inc. (US), Teleflex (US), Meril Life Sciences (India), Surgical Specialties Corporation (US), Péters Surgical (France), DemeTECH Corporation (US), Purple Surgical (UK), Internacional Farmacéutica S.A. de C.V. (Mexico), BioSintex (Romania), Lotus Surgicals (India), Mellon Medical (Netherlands), and Frankenman International (China), EndoEvolution (US), Welfare Medical (UK) and Unisur Lifecare (India).