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Rising Prevalence Of Cardiovascular And Gastrointestinal Diseases Is Poised To Propel The Demand For Anastomosis Devices Market

The global anastomosis devices market size is expected to reach USD 5.84 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.6% from 2022 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.

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. The growth can be attributed to wide product offering by various market players

·         Reusable anastomotic devices are anticipated to exhibit a CAGR of about 6.0% 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 6.5% 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

Gain deeper insights on the market and receive your free copy with TOC now @: Anastomosis Device Market Report

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.

Anastomosis Devices Market Insights By Demography

North America accounted for the largest revenue share of over 40.0% in 2021. The increasing prevalence of cardiovascular diseases and the growing number of R&D collaborations carried out by major players in the region are projected to stimulate the growth of the regional market. Asia Pacific (APAC) is likely to register the highest CAGR over the forecast period. Japan, China, and India are the key contributors to the APAC market. The regional market is estimated to experience the fastest growth during the forecast period, owing to improving economic conditions, growing healthcare awareness, and the increasing aging population in this region. The rising interest of companies to expand their presence in the region coupled with growing demand for anastomosis devices is anticipated to drive the market.

Industry Share Analysis By Major Companies

The key players are involved in various strategies such as mergers & acquisitions, new product developments, collaborations & partnerships, and expansion strategies to improve their market penetration. Some of the prominent players operating in the global anastomosis devices market are:

·        Medtronic

·        LivaNova PLC

·        MAQUET Holding B.V. & Co. KG.

·        Dextera Surgical Inc.

·        Vitalitec Internaional Inc.

·        Synovis Micro Companies Alliance, Inc.

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Anastomosis Devices Market Segmentation

Grand View Research has segmented the global anastomosis devices market based on product type, application, end-user, and region:

·         Anastomosis Devices Product Type Outlook (Revenue, USD Million, 2017 - 2030)

·         Anastomosis Devices Application Outlook (Revenue, USD Million, 2017 - 2030)

·         Anastomosis Devices End-user Outlook (Revenue, USD Million, 2017 - 2030)

·         Anastomosis Devices Regional Outlook (Revenue, USD Million, 2017 - 2030)

·         List of Key Players of the Anastomosis Devices Market

Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

on September 27 at 7:08

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