Endosurgery Devices Market is Projected to Expand at a CAGR of ~4% from 2019 to 2027February 23, 2021
Endosurgery Devices Market: Introduction
Transparency Market Research has published a new report titled, ‘Global Endosurgery Devices Market’. According to the report, the global endosurgery devices market was valued at ~US$ 9 Bn in 2018 and is projected to expand at a CAGR of ~4% from 2019 to 2027.
Endosurgery devices are used in minimally invasive surgeries as well as open or invasive surgeries. These devices use either mechanical stress or power to perform procedures such, as ligation, hemostasis, and access to surgical area, or utilize the high frequency electrical current to cut, coagulate, and desiccate tissues. In terms of product, the endomechanical devices segment dominated the global endosurgery devices market in 2018 and is anticipated to account for the largest market share during the forecast period.
This can be attributed to the increase in usage of surgical staplers, technological advancements in endomechanical devices, and rise in various types of endosurgery such as bariatric and gynecology surgery. The endomechanical devices segment is also likely to be driven by innovation, research & development, and new product launches by major players in the market.
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Based on application, the bariatric surgery segment held a major share of the global endosurgery devices market in 2018. Large share of the segment can be attributed to the increase in incidence of obesity globally
and rise in awareness about its treatment. Bariatric surgery is also known as weight loss surgery. Gastric bypass is the most common form of bariatric surgery. All bariatric surgeries are laparoscopic surgeries. Bariatric surgeries also include endoscopic sleeve gastroplasty, sleeve gastrectomy, and biliopancreatic diversion with duodenal switch.
Global Endosurgery Devices Market: Prominent Regions
North America accounted for a major share of the global endosurgery devices market in 2018, followed by Europe. North America’s dominance can be ascribed to a well-established healthcare industry, early adoption of new products, and presence of major market players in the region. Europe was also an attractive market for endosurgery devices in 2018, attributed to increased focus of companies on introducing new technologically advanced endosurgery devices in the region. The endosurgery devices market in Asia Pacific is expected to grow at a faster pace than other regions during the forecast period, due to a large patient base in countries such as India and China and increase in the number of surgeries performed, which is anticipated to increase the demand for endosurgery devices.
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Global Endosurgery Devices Market: Key Players
Major players operating in the global endosurgery devices market are Medtronic, Stryker, Ethicon, Inc., KARL STORZ SE & Co. KG, Olympus Corporation, Erbe Elektromedizin GmbH, Meril Life Science Pvt. Ltd, Healthium Medtech, Conmed Corporation, and Reach Surgical.
These players have adopted strategies, such as mergers & acquisitions, investments, and strategic partnerships, to increase their share and presence in the global endosurgery devices market. In February 2019, CONMED Corporation acquired Buffalo Filter LLC for US$ 365 Mn. This acquisition placed CONMED in a leading position in the high-growth surgical smoke-evacuation and laparoscopy surgery solutions market. Moreover, in April 2018, Apax Partners acquired Healthium Medtech for US$ 350 Mn.
Healthium Medtech manufactures and distributes a broad portfolio of medical devices and consumables, including wound closure products, minimally invasive products such as endosurgery, and arthroscopy consumables. In January 2017, Ethicon, Inc. acquired Megadyne Medical Products, Inc. The acquisition expanded Ethicon’s advanced range of energy devices with the addition of Megadyne’s advanced portfolio of electrosurgical tools. In January 2015, Medtronic acquired Covidien for US$ 42,900 Mn. The acquisition enhanced and expanded Medtronic’s existing portfolio in minimally invasive surgery devices.