Anastomosis Devices Market Growth & Trends
The global anastomosis devices market size is expected to reach USD 5.80 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.5% from 2023 to 2030. The rising prevalence of cardiovascular and gastrointestinal diseases is poised to propel the demand for anastomosis devices in the forthcoming years. According to the WHO, an estimated 17.9 million people died from Cardiovascular Diseases (CVD) in 2019, which represented 32% of all deaths in the world. It also states that 85% of these deaths are due to strokes and heart attacks. Coronary Heart/Artery Disease (CHD/CAD) is the most common type of heart disease and approximately 805,000 Americans have a heart attack each year. Surgery is crucial for the treatment of such life-threatening diseases, thereby increasing the adoption of anastomosis devices in these surgeries.
The outbreak of COVID-19 impacted elective procedures. Restrictions of COVID-19 resulted in postponements to the number of procedures performed. Presently most countries have elevated restrictions on elective procedures. Consequently, there would be lucrative demand for anastomosis devices as these procedures start with full force. Besides, demand for healthier patient outcomes will drive the introduction of advanced technologies in anastomosis devices and promotes market growth. For instance, in October 2020, GI Windows Corp. raised $16.4 million in a Series A-1 funding that involved investment from Johnson & Johnson Innovation and others. The funds are allotted to improve the development and clinical trials of the firm’s anastomosis technology.
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Anastomosis Devices Market Report Highlights
Disposable anastomotic devices will continue to dominate the market until 2030, commanding just over 88.0% of the overall revenue share in 2022. The growth can be attributed to wide product offering by various market players
Reusable anastomotic devices are anticipated to exhibit a CAGR of about 6.1% over the forecast period owing to the increasing need to reduce biomedical waste
Based on application, cardiovascular surgery held the largest share of the market in 2021 owing to the rising prevalence of CHD and the increasing number of CABG procedures around the globe
The ambulatory care centers & clinics segment is anticipated to expand at a lucrative CAGR of 5.6% during the forecast period. Increasing healthcare expenditure owing to the rising prevalence of chronic diseases and cases of hospital readmissions has encouraged the expansion of outpatient centers
North America was at the forefront in the global arena owing to the presence of well-structured reimbursement policies, widening base of the target population, and local presence of a large number of key players
Asia Pacific is expected to register a lucrative CAGR of 6.4% during the forecast period owing to the 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 and product innovation to augment their market penetration. For instance, in November 2020, GI Windows Medical Corp. broadcasted that the self-forming magnetic compression anastomosis device has received U.S. FDA Breakthrough Device Designation
Anastomosis Devices Market Report Scope
Report Attribute Details
Market size value in 2023 — USD 3.98 billion
Revenue forecast in 2030 — USD 5.80 billion
Growth rate — CAGR of 5.5% from 2023 to 2030
Base year for estimation — 2022
Historical data — 2018–2021
Forecast period — 2023–2030
Report updated — September 2023
Quantitative units — Revenue in USD million/billion and CAGR from 2023 to 2030
Report coverage — Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered — Product, application, end-use, region
Regions covered — North America; Europe; Asia Pacific; Latin America; MEA
Country Scope — U.S.; Canada; UK; Germany; Italy; France; Spain; Demark; Sweden; Norway; Japan; China; India; Australia; South Korea; Brazil; Thailand; Mexico; Argentina; South Africa; UAE; Kuwait
Key companies profiled — Medtronic; LivaNova PLC; MAQUET Holding B.V. & Co. KG.; Dextera Surgical Inc.; Vitalitec Internaional Inc.; Synovis Micro Companies Alliance, Inc.; Ethicon US, LLC; Peters Surgical
Customization scope — Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options — Avail customized purchase options to meet your exact research needs. Explore purchase options
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