[218 Pages Report] The global anastomosis devices market is projected to reach USD 2.9 billion by 2024 from an estimated USD 2.1 billion in 2019 at a CAGR of 7.2% during the forecast period. The growth of this market is primarily driven by the increasing incidence of target diseases and the subsequent growth in the number of surgical procedures, growing demand for minimally invasive surgeries, and technological advancements.
Based on the type, the global anastomosis devices market is segmented into surgical staplers, surgical sutures, and surgical sealants & adhesives. In 2018, surgical staplers accounted for the largest share of the market, and this segment is also estimated to grow at the highest CAGR during the forecast period.
The large share of this segment can be attributed to the advantages associated with surgical staplers (ease of use, minimal risk of complications, reduced blood loss/leakage, and shorter operating time) in comparison with surgical sutures and surgical sealants and adhesives.
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Based on application, the market is segmented into gastrointestinal surgeries, cardiovascular & thoracic surgeries, and other applications. The gastrointestinal surgeries segment is estimated to grow at the highest CAGR during the forecast period.
The large share of this end-user segment can be attributed to the increasing number of hospitals, high patient preference for hospital treatment, and the availability of skilled healthcare professionals & technologically advanced facilities.
North America dominated the anastomosis devices market in 2018. The large share of North America in the global market can be attributed to the favorable reimbursement scenario in the US, rising incidence of cancer in the region, and the implementation of a new funding model for Canadian hospitals.