Anastomosis Devices Market Size, Share & Trends Analysis Report By Product (Disposable, Reusable), By Application (Cardiovascular Surgery, Gastrointestinal Surgery), By End-user, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global anastomosis devices market size was valued at USD 3.58 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2030. Rising surgical procedures along with the growing prevalence of cardiovascular and gastrointestinal diseases are the key trends escalating market growth. The surgical practice has been considerably impacted by the outbreak of COVID-19. The pandemic has created challenges for general surgery practice. It has had ramifications for ways of working, open vs minimally invasive, surgical techniques, patient and staff safety, theatre workflow, training, and education. All specialisms have had to triage the importance of their regular surgical procedures and think about non-surgical management options where possible. Many elective or semi-elective procedures including gastrointestinal malignancies have been suspended. However, the market will witness the demand after the commencement of these surgeries at full force.

Moreover, the demand for improved patient outcomes will drive the uptake of novel innovations in anastomosis devices and contributes to market growth. For instance, in December 2020, India Medtronic Private Limited, a wholly-owned subsidiary of Medtronic introduced EEA Circular Stapler with Tri-Staple Technology. This is the first 3-row Circular Stapler with wide-ranging height staples is indicated for use in colorectal procedures.

The introduction of technologically-advanced products and favorable reimbursement scenarios in cardiac procedures, which comprises Coronary Bypass Graft Surgery (CABG), open-heart valve replacement, and angioplasty in developed countries are boosting the growth of the market for anastomosis devices. For instance, Medicare Part B covers coronary artery bypass graft surgery, coronary angioplasty, valve repair & replacement, and other comprehensive Cardiac Rehabilitation (CR) programs.

Product Type Insights

The disposable segment held the largest revenue share of over 88.0% in 2021, owing to the availability of an array of disposable anastomotic products and greater market penetration. The majority of key players are involved in the production of the disposable type of products.

These products reduce the risk of Surgical Site Infections (SSI), cross-contamination, and other Healthcare-associated Infections (HAI). Another advantage of disposable anastomotic devices over reusable ones is that they do not require reprocessing between consecutive uses, thereby reducing reprocessing costs and speeding up the entire process. This segment is poised to post a healthy growth rate owing to the aforementioned benefits.

The reusable anastomotic device is an emerging segment in the market for anastomosis devices. It is expected to witness a lucrative CAGR over the forecast period. The development of technologically-advanced products and the rising need to reduce biomedical waste are some of the key factors anticipated to fuel the growth of the segment in the forthcoming years.

Application Insights

Cardiovascular surgery was the most prominent application segment with over 51.0% revenue share in 2021. According to the WHO, an estimated 17.9 million people died from Cardiovascular Diseases (CVD) in 2019, which represented 32% of all deaths globally. The rising prevalence of CVD is contributing to the increase in the number of heart surgeries such as CABG.

The gastrointestinal surgery segment, comprising colorectal surgeries and large bowel resections, is anticipated to witness tremendous growth over the forecast period, owing to the increasing prevalence of colorectal cancer and other gastrointestinal diseases, which require bowel resection. According to the American Cancer Society, an estimated 104,610 new cases of colon cancer and 43,340 cases of rectal cancer diagnosed in the U.S. in 2020.

The prevalence of colorectal cancer is increasing in the Asia Pacific region, owing to which the anastomosis devices market holds phenomenal potential in the region. It also states that East Asian countries such as Japan, China, South Korea, and Singapore exhibited a two to four-fold increase in incidence over the last decade. Moreover, a large number of products for use in gastrointestinal anastomosis are expected to be introduced in the market over the forecast period, thereby providing a lucrative growth platform to the market in the near future.

End-user Insights

The hospital segment dominated the market with over 55.0% revenue share in 2021. As hospitals offer superior care to patients thus witnessing lucrative growth. In January 2020, the American heart association stated that the number of in-patients owing to cardiovascular disease is likely to increase nearly by 23.6 million by 2030. Furthermore, several factors such as the growing number of patients approaching hospitals owing to proper reimbursement facilities and accessibility to the treatment at ease are driving the segment growth.

The ambulatory care centers & clinics segment is projected to expand at the fastest CAGR over the forecast period. Increasing preference for outpatient care, as it is cost-effective and does not require a hospital stay, is likely to be the key factor driving the growth. Government initiatives and the availability of funding for ambulatory healthcare facilities are also anticipated to impel the growth of the segment in the forthcoming years.

Regional Insights

North America accounted for the largest revenue share of over 40.0% in 2021. The increasing prevalence of cardiovascular diseases and the growing number of R&D collaborations carried out by major players in the region are projected to stimulate the growth of the regional market. Furthermore, growing access to medical assistance, increasing awareness regarding CVD and CHD, rising disposable income, and highly established R&D infrastructure are key factors contributing to the growth.

Asia Pacific (APAC) is likely to register the highest CAGR over the forecast period. Japan, China, and India are the key contributors to the APAC market. The regional market is estimated to experience the fastest growth during the forecast period, owing to improving economic conditions, growing healthcare awareness, and the increasing aging population in this region. Aged people are more susceptible to cardiovascular and gastrointestinal diseases, thereby presenting a huge target population for the industry.

The rising interest of companies to expand their presence in the region coupled with growing demand for anastomosis devices is anticipated to drive the market. Additionally, increasing R&D activities and soaring healthcare expenditure are working in favor of the regional market.

Key Companies & Market Share Insights

The key players are involved in various strategies such as mergers & acquisitions, new product developments, collaborations & partnerships, and expansion strategies to improve their market penetration. For instance, in March 2021, Vascular Graft Solutions Ltd. received a receipt of marketing authorization from the FDA for the VIOLA. This is a new device for clampless proximal anastomosis in CABG. Some of the prominent players operating in the global anastomosis devices market are:

• Medtronic

• LivaNova PLC

• MAQUET Holding B.V. & Co. KG.

• Dextera Surgical Inc.

• Vitalitec Internaional Inc.

• Synovis Micro Companies Alliance, Inc.

• Ethicon US, LLC

• Peters Surgical

Anastomosis Devices Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global anastomosis devices market report based on product type, application, end-user, and region:

• Product Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Disposable

  • Reusable

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Cardiovascular Surgery

  • Gastrointestinal Surgery

  • Others

• End-user Outlook (Revenue, USD Million, 2017 - 2030)

  • Hospitals

  • Ambulatory Care Centers & Clinics

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa