Anastomosis Devices - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Anastomosis Devices - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The anastomosis devices market is anticipated to register a CAGR of 7.0% during the forecast period.

The COVID-19 pandemic is an unprecedented health concern and adversely affects various surgical procedures. Due to regulatory authorities' strict guidance to prevent any non-emergent surgeries, the volume of surgeries has drastically decreased throughout the pandemic. According to the study published in October 2021 by the National Library of Medicine globally, there has been a 42.8% decrease in general surgery admissions. Thus, the reduction in the number of surgical procedures during the COVID-19 pandemic affected the market's growth. However, the postponed surgeries resumed worldwide, driving the market's growth during the post-pandemic period.

Factors such as the rise in several surgical procedures like colectomy, CABG, and others and the availability of technologically advanced products and reimbursement policies are boosting the growth of the market for anastomosis devices. For instance, according to an article published by StatPearls, in August 2022, almost 400,000 CABG surgeries are performed each year making it the most commonly performed major surgical procedure in United States. Additionally, according to the data published by the HSRA in March 2022, about 40,000 organ transplants were performed in the United States in 2021. In addition, 26,670 kidney transplants and 9,236 live transplants were performed in the United States in 2021. Thus, an increase in the surgical procedure is expected to increase the number of anastomosis devices demand, hence driving the market.

Moreover, the number of surgical procedures due to trauma, hip and knee replacements, and chronic diseases such as cardiovascular diseases where surgery is mandatory is growing. This is the primary growth factor for the anastomosis devices market. For instance, as per the research study published in June 2021 by the Journal of Thoracic and Cardiovascular Surgery, a total of 92,809 operations were classified as heart surgery procedures in the classical sense, of which 29,444 were isolated coronary artery bypass grafting procedures, 35,469 were isolated heart valve procedures, and the number of isolated heart transplantations increased by 2% to 340. Hence, the high number of heart procedures and operations being performed is expected to boost 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 the market's growth during the forecast period. For instance, in August 2021, Medicare Part B covers coronary artery bypass graft surgery, coronary angioplasty, valve repair & replacement, and other comprehensive Cardiac Rehabilitation (CR) programs. Also, In March 2021, Johnson & Johnson (US) launched the ECHELON+ Stapler, a powered surgical stapler designed to reduce complications in surgery through more uniform tissue compression and better staple formation. Such developments are expected to drive the growth of the market over the forecast period.

The above-mentioned factors are expected to drive the market's growth worldwide. However, the adoption of minimally invasive procedures like percutaneous coronary interventions and highly expensive treatments, and the lack of advanced healthcare infrastructure are expected to hamper the growth of the anastomosis devices market during the forecast period.

Anastomosis Devices Market Trends

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.

Anastomosis Devices Industry Overview

The anastomosis devices market is moderate due to the presence of companies operating globally and regionally. The competitive landscape includes an analysis of a few international and local companies that hold market shares and are well-known, including Baxter (Synovis Micro Companies Alliance), Medtronic PLC, LivaNova PLC, Getinge AB, Johnson & Johnson (Ethicon US LLC.), Meril Life Sciences Pvt. Ltd, Becton, Dickinson and Company, Intuitive Surgical, Boston Scientific Corporation and B. Braun SE, among others.

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