Tag: Cardiovascular Surgery

Powered Surgical Instruments Market Size Worth $2.8 Billion By 2026

The global powered surgical instruments market size is expected to reach USD 2.8 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 3.8%. Increasing number of surgical procedures, coupled with technological advancements, is anticipated to drive the market. Moreover, increasing awareness and affordability of plastic or reconstructive surgeries and surgeries for sports injuries is likely propel growth over the forecast period.

Increase in factors such as demand for minimally invasive surgeries & robot-aided procedures as well as improving accessibility to healthcare is contributing to growth. In addition, increasing geriatric population and rising awareness about availability of surgical procedures are likely to boost the market.

Increase in number of road accidents and rising healthcare expenditure in emerging economies are other factors likely to boost revenue generation in the market. According to the U.S. Census Bureau, the global healthcare expenditure is expected to reach USD 18.28 trillion by 2040, growing at a CAGR of 2.6%. According to WHO, the global population aged 60 years and above is expected to reach 2 billion by 2050, from 900 million in 2015. This demographic is more susceptible to a vast number of diseases, increasing the need for effective treatments, thereby boosting the market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/powered-surgical-instruments-market

Further key findings from the study suggest:

  • North America accounted for the largest share of over 42.0%, owing to high prevalence of chronic disorders, favorable reimbursement policies, presence of key players, and government initiatives.
  • Asian countries are estimated to show the highest growth rate of 5% over the forecast period, due to an increasing adoption of advanced technologies, increasing investments, improving reimbursement scenario, and increasing medical tourism.
  • Handpiece powered surgical instruments is expected to dominate over the forecast period. It accounted for more than more than 40.0% of share in 2018.
  • Based on application, orthopedic, followed by cardiovascular surgery, were leading segments in the market, owing to high use of powered instruments, rising geriatric population, and growing incidence of osteoporosis and heart conditions.
  • Key players in powered surgical instruments market are opting for strategies, such as partnerships & acquisitions, introduction of new products, and investments in new technologies, to expand their product portfolio and to strengthen global footprint. For instance, in November 2018, Stryker Corporation announced acquisition of K2M Group Holdings, Inc., thereby expanding its product portfolio.

Anastomosis Devices Market Size Worth $24.84 Million By 2025

The global anastomosis devices market size is projected to reach USD 24.84 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 5.2% during the forecast period. Rising prevalence of cardiovascular and gastrointestinal diseases is poised to propel the demand for anastomosis devices in the coming years.

According to WHO, 17.7 million people died from CVD in 2015, which represented 31.0% of all deaths in the world. It also states that 80% of these deaths are due to strokes and heart attacks. CHD/CAD (Coronary Heart/Artery Disease) is the most common type of heart disease and around 370,000 people die annually in the U.S. Surgery is crucial for the treatment of such life-threatening diseases, thereby increasing the adoption of anastomosis devices in these surgeries.

Lifestyle associated changes, medical procedures, and/or drug therapy can be effectively used to prevent or treat CAD in most people. Clearly, invasive cardiac surgery is not the first-line of treatment for patients, where less invasive options such as angioplasty and stenting are feasible. Nevertheless, for many patients with advanced or diffuse diseases, surgery remains the best option and anastomosis devices are widely used in such surgeries. Swelling demand for CABG, increasing geriatric population, reduced risk associated with surgery, and growing number of people who need re-operations after 10 to 12 years from their first bypass surgery.

Introduction of technologically advanced products with associated advantages such as less exposure to anesthesia, reduced operating time, reduced chances of blood leaks, and convenience are among factors likely to stoke growth of the market. Moreover, presence of favorable reimbursement structure in developed countries is estimated to bolster the growth of the market. For instance, Medicare policies in the U.S. offer reimbursement for CABG and colorectal surgery.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/anastomosis-devices-market

Further key findings from the report suggest:

  • Disposable anastomotic devices will continue to dominate the market until 2025, commanding just over 88.0% of the overall market. The growth of the segment can be attributed to wide product offering of various market players
  • Reusable anastomotic devices are anticipated to exhibit a CAGR of about 6.0% over the forecast period owing to increasing need to reduce biomedical waste
  • On the basis of application, cardiovascular surgery held the largest share of the market in 2016 owing to rising prevalence of CHD and increasing number of CABG procedures around the globe
  • North America was at the forefront in the global arena owing to the presence of well-structured reimbursement policies, widening base of target population, and local presence of a large number of key players
  • Asia Pacific is expected to grow at a lucrative rate of 6.1% during the forecast period owing to growing geriatric population, rising incidence of CVD, rapid developments in the healthcare sector, and increasing disposable income
  • Key market players are engaged in various strategies such as distribution agreements to augment their market penetration. For instance, in February 2016, Maquet Medical Systems USA entered into a distribution agreement with BIOTRONIK to distribute the latter’s peripheral vascular devices in the U.S.