Visiongain has published a new report on Anastomosis Device Market Report to 2031: Forecasts by Type (Surgical Staplers (Manual and Powered), Surgical Sutures (Absorbable Sutures (Synthetic Sutures (Polyglactin 910 Sutures, Poliglecaprone 25 Sutures, Polydioxanone Sutures, Polyglycolic Acid Sutures, and Other Synthetic Sutures), and Natural Sutures), Non-absorbable Sutures (Polypropylene, Nylon, Stainless Steel, and Other Non-absorbable Sutures), Automated Suturing Devices (Disposable and Reusable), Surgical Sealants and Adhesives (Natural/Biological (Fibrin-based, Collagen-based, and Albumin-based) and Synthetic & Semisynthetic (PEG Hydrogel-based, Cyanoacrylate-based, Urethane-based, and Other Synthetic & Semisynthetic Sealants & Adhesives), By Application (Gastrointestinal Surgeries, Cardiovascular & Thoracic Surgeries, and Others Applications), By End User (Hospitals and Ambulatory Surgical Centers & Clinics) PLUS COVID-19 Recovery Scenarios.
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COVID-19 Impact on Anastomosis Device Market
The COVID-19 pandemic has deleteriously affected all the countries and industries. Similarly, the anastomosis device market is anticipated to take a hit. The target industry is now facing challenges to manage the interrupted demand and supply of components. Also, unpredictable and disturbing supply chain activities and the unavailability of human resources are anticipated to impact the target industry growth. In contrast, the rising research & development activities for developing novel treatments against COVID-19 is creating a lucrative opportunity for the companies. Hence, the overall COVID-19 impact is expected to continue to moderate for the global key players operating in the industry.
Increasing Demand for Minimally Invasive Surgeries
Increasing surgical procedures along with the rising occurrence of gastrointestinal and cardiovascular diseases are escalating the target industry growth. According to data published by Medistim, on average, over 600,000 vascular procedures and 700,000 coronary artery bypass graft (CABG) is performed annually worldwide. As per HonorHealth, approximately 500,000 coronary artery bypass graft (CABG) surgeries are performed in the U.S. annually, making it one of the country's most common procedures, thus boosting the demand for anastomotic devices.
Growing Target Disease Prevalence and Consequently Growing Number of Surgical Procedures
Rising incidence and prevalence of cardiovascular diseases, osteoarthritis disorder, and multiple cancer have led to an increased in the number of surgical procedures that are expected to be major driving factors for the growth of the anastomosis device market during the forecast period. According to Cancer Australia estimates, around 1,405 new cases of brain cancer are expected in 2017. Furthermore, as per the World Health Organization (WHO), the common reason for death is cardiovascular diseases (CVD) across the world. Also, as per the Centers for Disease Control and Prevention (CDC), nearly 1.70 million people die from a chronic disease every year in the USA. Although chronic diseases are the major reason for death for men and women alike because women face unique health issues. Around 37% of women suffer from chronic diseases, compared to 30% of men. Moreover, according to the World Health Organization (WHO) estimates, by 2050, around 130 million people are expected to suffer from osteoarthritis worldwide. Thereby, the rising high prevalence of cardiovascular diseases and other chronic disorders are subsequently growing the number of surgical procedures to maximize patient outcomes. In turn, it is projected to attain substantial growth for the anastomosis device market in the given time frame.
Rapidly Increasing Health Care Expenditure
Healthcare spending has increased drastically in the U.S. in the past few decades. As per the Journal of the American Medical Association (JAMA), healthcare expenditure in the U.S. upsurge near a trillion dollars between 1996 and 2015. The association told that healthcare expenditure in the U.S. during 2017 was around $3.5 trillion, i. e, $11,000 per person. These expenditures are projected to be $6 trillion—approximately $17,000 per person by 2027.
Key players operating in the global Anastomosis Device market are Medtronic, Dextera Surgical Inc., Ethicon Inc., B. Braun Melsungen AG, Vitalitec International Inc., MAQUET Holding B.V. & Co. KG., LivaNova PLC, Novare Surgical Systems, Inc., and Synovis Micro Companies Alliance, Inc.
The key players have adopted new product development, product launches, product approval, agreement, partnerships, and merger as its key business development strategies to tap into the global Anastomosis Device market. For instance, on 13th November 2020, GI Windows Medical Corp. announced received approval by the U.S. Food and Drug Administration (FDA) for the self-forming magnetic compression anastomosis device designated for small bowel end to end anastomosis for ileostomy reversal or tissue resection.
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