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.
Market Size
The global Anastomosis Device market size 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.
Johnson & Johnson (US), Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Smith & Nephew (UK), EndoEvolution LLC (US), CryoLife, Inc. (US), Becton, Dickinson and Company (US), CONMED Corporation (US), Intuitive Surgical, Inc. (US), Boston Scientific Corporation (US), Baxter International, Inc. (US), Péters Surgical (France), Biosintex (Romania), and Meril Life Sciences (India) are some key players in this market. These companies are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, acquisitions, and expansions.
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“Johnson & Johnson dominated the anastomosis devices market in 2018. “
The company offers a robust and broad portfolio of surgical sutures, staplers, and sealants & adhesives, which serves as an important factor for its large market share. Research and development is a major focus area for the company. J&J invested 6.5% of its Medical Devices segment’s revenue for the development of novel medical devices. In 2017, the company launched its PROXISURE suturing device to improve precision in minimally invasive surgery. J&J has a wide global footprint and strong distribution channels. It also has a prominent presence in the US, where it registered 41.8% of its overall sales in 2018.
“Medtronic is another major player in the anastomosis devices market. “
The company offers a wide range of anastomosis devices, including surgical sutures, surgical staplers, and surgical sealants & adhesives. The company has a strong presence in the US market and is focusing on expanding its reach in emerging markets. The company opened its regional headquarters in Singapore to improve its market presence in the Asia Pacific market. The company’s specialized product portfolio, strong geographic presence, and market penetration are some of the factors expected to enhance its presence in the anastomosis devices market in the coming years.
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