Market Size of Anastomosis Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Anastomosis Devices Market Analysis
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.
