Market Trends of Anastomosis Devices Industry
Surgical Suture Segment is Expected to Hold Significant Share in the Anastomosis Devices Market
A suture refers to any strand of material used to litigate blood vessels or tissues to close a surgical site. The type of material used primarily decides the level of sutures layers to be done by a speciality doctor. The growing prevalence of unhealthy lifestyles and chronic diseases is expected to drive the growth of the segmental market. For instance, the data published by the European Heart Network in 2021 reported that in the European Union, more than 60 million people live with Cardiovascular disease, and nearly 13 million new cases of cardiovascular diseases are diagnosed yearly. Such increasing prevalence of cardiovascular diseases, which led to an increasing need for surgical procedures and treatment, is expected to drive the growth of the anastomosis devices market.
Various initiatives taken by the key market players, such as product launches, mergers, acquisitions, and partnerships, are expected to boost segmental growth. For instance, in March 2022, C2Dx acquired Hemostatix Medical Technologies, gaining a thermal scalpel system to become the company's third product line. The Hemostatix Thermal Scalpel seals blood vessels as they're cut, effectively cutting and coagulating simultaneously. Such development is expected to drive the growth of the market over the forecast period.
Thus, the segment is expected to grow significantly over the forecast period due to the abovementioned factors.
North America Holds a Significant Share in the Market and Expected to do Same in the Forecast Period.
North America is expected to witness a significant share in the overall market throughout the forecast period due to better regulatory practice framework of surgical devices and growing awareness among the population to approach surgeries in case of injuries and chronic disease problems. For instance, according to the April 2021 data from the University of Alabama at Birmingham, 350,000 CABG surgeries are performed annually in the United States. The rising prevalence of cardiovascular disorders and obesity rates is attributed to the market's growth in this region. Furthermore, according to the CDC's 2022 update, in October 2022, 18.2 million adults had coronary artery disease, and approximately 70% of these patients underwent surgery. The United States records nearly 35 million hospital stays each year. Hence, this rise in hospital stays and surgeries is expected to grow the market. The increasing number of injuries due to road accidents in the United States resulted in increased surgical procedures, thereby increasing the usage of anastomosis devices. According to the data published in March 2022 by ASIRT, annually, 4.4 million Americans are injured seriously enough to require medical attention in the United States.
According to a study published in November 2021 by Surgical Endoscopy, laparoscopic cholecystectomy is the most common abdominal surgical treatment in the United States, with over 750,000 procedures performed annually. These procedures use anastomosis devices, which is expected to boost the market's growth in the country.
Thus, the aforementioned factors are expected to boost the market's growth in North America over the forecast period.
