Market Trends of Cutter Staplers Industry
Obstetrics and Gynecology Segment is Expected to Show Significant Growth Over the Forecast Period
Obstetrics and gynecology segment is expected to hold a significant market share due to the rising number of childbirths, the increasing cesarean section surgeries, and the increasing technological advancements in cutter staplers.
According to an article published by WHO in June 2021, cesarean section surgeries are continuing to rise globally, which accounted for more than 1 in 5 (21%) of all childbirths in 2021. This number is set to continue increasing over the coming decade, with nearly a third (29%) of all births likely to take place by cesarean section by 2030. The source also stated that the worldwide cesarean section rates have risen from around 7% to 21% in the last two decades and are projected to continue increasing over this current decade. It is also expected that by 2030 the highest rates are likely to be in Eastern Asia (63%), Latin America and the Caribbean (54%), Western Asia (50%), Northern Africa (48%) Southern Europe (47%) and Australia and New Zealand (45%). Thus, the increasing cesarean section rates are expected to boost the usage of cutter staplers during the forecast period of the study.
Furthermore, according to an article published by the National Vital Statistics Report in January 2023, a total of 3,664,292 births were registered in the United States in 2021, which increased by 1% since the previous year. The general fertility rate in the United States increased by 1% to 56.3 births per 1,000 women aged 15 to 44 in 2021. Thus, the rising number of childbirths is also expected to increase the usage of cutter staplers.
Hence, the aforementioned factors such as the rise in the number of cesarean section procedures and the rising number of childbirths are expected to boost the studied segment growth.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
North America is expected to gain the highest share of the market over the forecast period due to the increasing number of surgical procedures, the increasing healthcare expenditure, and the increasing presence of major market players in the region.
The increasing number of surgical procedures across the region is one of the major factors driving the market growth. For instance, according to the data published by CDC in July 2022, the cesarean delivery rate in the United States increased to 32.1% in the United States in 2021, from 31.8% in the previous year. The rising number of cesarean deliveries is expected to boost the usage of cutter staplers during the forecast period of the study.
Moreover, the rising healthcare spending in the region is also expected to boost market growth. For instance, according to the data published by the Canadian Institute of Health Information in November 2022, it was estimated that the total health spending in Canada would reach USD 331 billion or USD 8,563 per Canadian in 2022. It was also anticipated that health expenditure will represent 12.2% of Canada's gross domestic product (GDP) in 2022.
Thus, the aforementioned factors such as the rising number of surgeries and the increasing healthcare expenditure are likely to propel the market for cutter staplers in the region.
