by The global Anastomosis Devices Market is estimated to be valued at US$ 22.4 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Anastomosis devices are used in surgical procedures to connect or reattach tubular organs or tissues such as blood vessels or intestines. These devices are used in cardiovascular, gastrointestinal, and others surgeries. Anastomosis devices help in reducing surgical risk, decreasing recovery times and improving outcomes. They offer benefits such as quicker healing, reduced blood loss, minimized trauma and scarring. With rising adoption of minimally invasive surgeries, demand for anastomosis devices is increasing owing to their advantages over conventional suturing techniques.
Market key trends:
One of the key trends in anastomosis devices market is the growing demand for disposable and single-use devices. With advancements in material science, manufacturers are developing cost-effective and user-friendly single-use anastomosis devices. This is helping in preventing infection and contamination. Rising preference for less invasive procedures is also fueling the demand for laparoscopic anastomosis devices. Manufacturers are focusing on developing sophisticated devices compatible with advanced surgical platforms like robotics. Growing burden of diseases requiring anastomosis procedures will continue to present lucrative growth opportunities for players in this market.
Porter’s Analysis
Threat of new entrants: Low capital requirements and availability of efficient medical devices lower the threat of new entrants in the anastomosis devices market.
Bargaining power of buyers: Large pool of players and availability of generic devices increase buyers’ bargaining power in the anastomosis devices market.
Bargaining power of suppliers: Established supply networks of key players reduce suppliers’ bargaining power in the anastomosis devices market.
Threat of new substitutes: Limitedsubstitute optionsmaintain the overall demand for anastomosis devices.
Competitive rivalry: Significant investment in R&D and strong focus on new product launches intensifies competitive rivalry.
Key Takeaways
The Global Anastomosis Devices Market Share is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing prevalence of chronic diseases.
North America is expected to hold the largest share in the global anastomosis devices market during the forecast period due to rising cases of cancer and cardiac diseases in the region. The market in Asia Pacific is anticipated to grow at the fastest CAGR owing to improving healthcare facilities and rapidly growing medical tourism industry in the region.
Key players operating in the anastomosis devices market are Medtronic, Liva Nova PLC, Dextera Surgical Inc., Ethicon US, LLC., Synovis Micro Alliance, Inc., Vitalitec International Inc., and MAQUET Holding B. V. & Co. KG., among others. Significant investment in R&D and new product launches are the key strategies adopted by these players to gain competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
