The surgical staplers market is expected to reach USD 4.78 billion by 2022 from USD 3.38 billion in 2017, at a CAGR of 7.2%. The growth in the surgical staplers market is primarily driven by the increasing number of surgical procedures, growing preference for minimally invasive surgeries, technological advancements, and increasing preference for surgical staplers over sutures.
Product launches & approvals, collaborations, agreements, acquisitions, and expansions were the key growth strategies adopted by the market players to maintain and improve their position in the surgical staplers market. Product launches & approvals are the majorly adopted strategies among the overall growth strategies undertaken by the market players in 2014-2017. Some of the leading players who adopted this strategy include Ethicon Inc. (U.S.), Medtronic plc (Ireland), Intuitive Surgical Inc. (U.S.), and Dextera Surgical Inc. (U.S.).
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The surgical staplers market is duopolistic in nature, with two major players Ethicon Inc. (U.S.) and Medtronic plc (Ireland). Apart from these other prominent players of the market includes CONMED Corporation (U.S.), Smith & Nephew (U.K.), Purple Surgical Inc. (U.K.), Intuitive Surgical Inc. (U.S.), Welfare Medical Ltd. (U.K.), Reach surgical Inc. (China), Meril Life Science Pvt. Ltd. (India), Grena Ltd. (U.K.), B. Braun Melsungen AG (Germany), Dextera Surgical Inc. (U.S.), Frankenman International (China), and Becton, Dickinson and Company (U.S.).
Ethicon Inc. (U.S.) was one the leading players in the surgical staplers market in 2016. The company offers a broad range of surgical stapling products across the globe and is the leading player in this market. The company focuses on strengthening its sales activities and distribution network by working with an efficient network of dealers. The company’s leading position in this market can be attributed to its comprehensive product portfolio in the field of surgical staplers, strong global presence, and strong R&D investments.
Medtronic plc (Ireland) holds the second leading position in the surgical staplers market. The company offers powered, manual, disposable, and reusable staplers that are used for various applications, such as thoracic, bariatric, pediatric, gynecological, and abdominal surgeries. The company focuses on developing new product offerings in the surgical staplers market to strengthen its foothold in the market. In 2017, Medtronic plc launched the Signia stapling system. The product has additional features such as real-time feedback and automated responses to real-time data.