June 16, 2024
Anastomosis Devices Market

Anastomosis Devices Market is Estimated to Witness High Growth Owing to Rising Incidences of Chronic Diseases

The anastomosis devices market is growing rapidly with increasing surgical interventions for diseases. Anastomosis devices are used for performing surgical procedures like gastric bypass, colostomy and ileostomy in bariatric and GI surgeries. The devices help in joining together or reconnect organs, tissues, blood vessels or intestinal segments after surgery. They provide precise connection and prevent leakage which helps in faster healing. The minimally invasive procedures associated with these devices help in reducing hospital stay and recovery times for patients.

The Global anastomosis devices market is estimated to be valued at US$ 25.81 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Anastomosis Devices Market Growth are AGSSCO Corporation, Carborundum Universal Ltd., Entegris Inc. ESD-SIC b.v., ESK-SIC GmbH, Gaddis Engineered Materials, Grindwell Norton Ltd., Norstel AB, Saint-Gobain Ceramics Materials GmbH, and Snam Abrasives Pvt. Ltd. The companies are focusing on new product launches and geographical expansion to strengthen their market presence.

The rising incidence of obesity, cancer and gastrointestinal diseases has increased surgical procedures which is a key opportunity for anastomosis device manufacturers. Advanced minimally invasive techniques associated with these devices are also driving their adoption.

The North America region dominates the anastomosis devices market owing to growing elderly population suffering from chronic diseases. However, factors such as rapidly improving healthcare infrastructure and rising medical tourism are helping drive high demand and adoption of these devices in the Asia Pacific region.

Market Drivers

The rising geriatric population worldwide who are highly prone to chronic diseases like cancer, cardiovascular and gastrointestinal diseases is one of the major drivers for the anastomosis devices market. According to estimates nearly 25% of the European population and 20% of the US population will be aged 65 years and older by 2050. This significantly increases the prevalence of diseases requiring surgical interventions where anastomosis devices are used.

PEST Analysis

Political: Healthcare reforms and regulations regarding medical device approval and standards could impact the market growth in different regions.

Economic: Rising disposable incomes and growing healthcare expenditures are expected to increase the demand for advanced anastomosis devices.

Social: Growing geriatric population and increasing prevalence of chronic diseases like cancer are major drivers of the anastomosis devices market.

Technological: Continuous research and development to develop innovative minimally invasive surgical procedures and product innovation lead to newer generation anastomosis devices with improved safety and efficacy.

The regions where the anastomosis devices market is concentrated in terms of value are North America and Europe. These developed markets have advanced healthcare infrastructure and higher patient awareness. Presence of leading industry players and availability of skilled physicians also contribute to the major market share of these regions.

The Asia Pacific region is expected to exhibit the fastest growth during the forecast period owing to rapidly developing healthcare sector, increasing healthcare expenditures, rising medical tourism, and growing adoption of advanced medical technologies in major countries like China and India. Moreover, growing prevalence of cancer and other chronic diseases is also generating higher demand for effective anastomosis solutions in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it