According to the latest report published by Transparency Market Research on the global endosurgery devices market for the historical period 2017-2018 and forecast period from 2019 to 2027, technological advancements and increase in the number of surgeries are projected to be major drivers of the global endosurgery devices market during the forecast period
Endosurgery Devices Market: Overview
- According to the latest report published by Transparency Market Research on the global endosurgery devices market for the historical period 2017-2018 and forecast period from 2019 to 2027, technological advancements and increase in the number of surgeries are projected to be major drivers of the global endosurgery devices market during the forecast period
- The global endosurgery devices market was valued at ~US$ 8.8 Bn in 2018 and is expected to expand at a CAGR of ~4% from 2019 to 2027
Launch of New Endosurgery Devices-based Products: Key Drivers
- Technological advancements in endosurgery devices provide enhanced surgical options for bariatric and gynecology surgery applications
- For instance, in 2017, Medtronic launched Signia Stapling System, which provides an ideal solution to the innovative intelligence-based minimally invasive surgery by offering real-time feedback and using adaptive firing technology to measure the firing force and adjust the stapler's speed based on tissue variability measurements
- In 2018, Intuitive Surgical (da Vinci) launched SureForm 60, a robotic stapling instrument that is single-patient, and offers greater degree of ease and autonomy to surgeons. The system also offers 120 degrees of fully wristed articulation, up to 60 degrees in all directions during surgery, which helps surgeons with greater range of motion not possible manually.
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Rise in Minimally Invasive Surgeries
- Usage of endosurgery devices in several surgical applications is increasing due to its characteristics such as ease of use, less pain caused to patients, and lower risk of side effects after the surgery
- Utilization of endosurgery devices in bariatric applications is rising due to obesity and rise in awareness about its treatments
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Surge in Adoption of Advanced Robotic Endosurgery Devices
- Recent developments in technology have led to a rise in the usage of advanced endosurgery devices such as the smart stapling system
- Intuitive Surgical (da Vinci) offers SureForm 60, which is a robotic stapling instrument
- The advent of robotic surgical systems and adoption among various specialties drive the demand for advanced surgical instruments to be used in these robotic surgical procedures. This has encouraged key surgical robot manufacturers to develop new endosurgery devices indigenously and in collaboration with key endosurgery device manufacturers.
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High Demand for Endosurgery Devices in Bariatric Surgery
- In terms of application, the bariatric surgery segment held a major share of the global endosurgery devices market in 2018. Rise in the global geriatric population is likely to lead to an increase in the number of people affected with various diseases that require surgery, which, in turn, is projected to boost the demand for endosurgery devices.
- Endoscopic sleeve gastroplasty, sleeve gastrectomy, and biliopancreatic diversion with duodenal switch are part of the bariatric surgery
- Other applications where endosurgery devices are used are gynecology, abdominal & general surgery, and cardiothoracic surgeries, among others
North America to Dominate Endosurgery Devices Market
- North America accounted for a major share of the global endosurgery devices market in 2018, followed by Europe. There is a presence of major market players in North America. Moreover, the large share of the region can be attributed to the early launch and adoption of advanced endosurgery devices and a highly structured healthcare industry in the region.
- Europe is likely to be a highly attractive market for endosurgery devices during the forecast period, primarily due to the increase in the number of people undergoing surgeries
- The endosurgery devices market in Asia Pacific is projected to expand at a rapid rate during the forecast period due to a large patient base, increase in awareness about endosurgical treatments, and improving healthcare infrastructure
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Endosurgery Devices Market: Competition Landscape
- Detailed profiles of manufacturers of endosurgery devices have been provided in the report to evaluate their key product offerings, financials, business strategies, and recent developments
- The global endosurgery devices marketis fragmented due to the presence of several large and small players in the market
- Major players operating in the global endosurgery devices market are
- Medtronic
- Stryker
- Ethicon, Inc.
- KARL STORZ SE & Co. KG
- Olympus Corporation
- Erbe Elektromedizin GmbH
- Meril Life Science Pvt. Ltd
- Healthium Medtech
- Conmed Corporation
- Reach Surgical
In the global endosurgery devices market report, we have discussed individual strategies, followed by company profiles of the manufacturers of endosurgery devices. The ‘competitive landscape’ section has been included in the global endosurgery devices market report to provide readers with a dashboard view of the key players operating in the global endosurgery devices market.
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