The escalating prevalence of diseases linked to the liver and pancreas has emerged as a pivotal factor propelling the market growth. In recent years, the healthcare landscape has witnessed a notable surge in conditions such as liver cirrhosis, hepatocellular carcinoma, pancreatic cancer, and chronic pancreatitis among others. This surge in diseases affecting the liver and pancreas has created a substantial demand for advanced surgical interventions and innovative medical devices. The healthcare industry is witnessing a surge in the number of HPB surgeries performed as these hepato-pancreatic conditions become more prevalent across the globe. These surgical procedures necessitate a range of specialized devices and instruments designed to facilitate complex surgeries, minimize risks, and improve patient outcomes.
Consequently, the increasing demand for HPB surgeries and the corresponding need for surgical devices have collectively propelled the market growth. This trend is likely to persist as healthcare professionals and medical device manufacturers continue to innovate and improve surgical techniques and devices for better patient care. Thus, the rising incidence of liver and pancreas-related diseases is expected to drive market growth.
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Data Bridge Market Research analyzes that the North America Hepato-Pancreatico-Biliary (HPB) Surgeries Surgical Devices Market is expected to grow with a CAGR of 8.7% in the forecast period of 2023 to 2030 and is expected to reach USD 3,118,543.41 thousand by 2030. The product segment is projected to propel the market growth as increasing demand for North America hepato-pancreatico-biliary (HPB) surgeries surgical devices worldwide.
Key Findings of the Study
Incorporation of AI Technology in Surgical Devices
The incorporation of AI (Artificial Intelligence) technology into surgical devices presents a remarkable opportunity for market growth. AI has the potential to revolutionize the field of HPB surgery by enhancing precision, improving patient outcomes, and reducing the overall complexity of these intricate procedures. AI can assist surgeons in several ways, such as image analysis for better preoperative planning and intraoperative guidance. Machine learning algorithms can process vast amounts of medical data, enabling more accurate diagnoses and surgical strategies tailored to each patient's unique anatomy. During surgery, AI-powered surgical devices can provide real-time feedback and assistance to surgeons, helping them make more informed decisions and execute precise movements.
Integration of AI into surgical devices holds immense promise for the HPB surgeries and surgical devices market as AI technology continues to advance, attracting healthcare providers and surgeons looking to improve the quality of care they provide, which is expected to create opportunities for market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD thousand
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Segments Covered
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Product (Electrosurgery Instruments, Endoscope, Visualization and Robotic Surgical System, Hand Instruments, Access Instruments, Surgical Suture and Stapler Devices, Energy/Vessel Sealing Devices, Fluid Management Systems, Stents, and Others), Indication (Liver Cancer, Pancreatic Cancer, Bile Duct Cancer, Gallstones, Pancreatitis, Cirrhosis, Cholecystitis, and Others), Type of Surgery (Open surgery and Minimally Invasive Surgery), Age Group (Pediatric, Adult, and Geriatric), End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Trauma Centers, and Others), Distribution Channel (Direct Tender, Retail Sales, and Others)
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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Medtronic (Ireland), Cook (U.S.), Olympus Corporation (Japan), B. Braun SE (Germany), HOBBS MEDICAL INC. (U.S.), Mediflex Surgical Products (U.S.), Thompson Surgical (U.S.), STeleMed Systems, Inc. (U.S.), Boston Scientific Corporation (U.S.), CONMED Corporation (U.S.), BD (U.S.), CooperSurgical Inc (U.S.), KARL STORZ (Germany), STERIS (U.S.), FUJIFILM Corporation (Japan), and Johnson & Johnson Services, Inc. (U.S.) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis
The North America hepato-pancreatico-biliary (HPB) surgeries surgical devices market is segmented into six notable segments based on product, indication, type of surgery, age group, end user, and distribution channel.
- On the basis of product, the market is segmented into electrosurgery instruments, endoscope, visualization and Robotic Surgical System, hand instruments, access instruments, Surgical Suture and stapler devices, energy/vessel sealing devices, fluid management systems, stents, and others
In 2023, electrosurgery instruments segment is expected to dominate the market
In 2023, electrosurgery instruments segment is expected to dominate the market with 24.11% market share due to most preferred product by the healthcare professionals.
- On the basis of indication, the market is segmented into liver cancer, pancreatic cancer, gall stones, bile duct cancer, cirrhosis, pancreatitis, cholecystitis, and others
In 2023, liver cancer segment is expected to dominate the market
In 2023, liver cancer segment is expected to dominate the market with 22.65% market share due to changes in lifestyle and increasing alcohol consumption
- On the basis of type of surgery, the market is segmented into open surgery and minimally-invasive surgery. In 2023, open surgery segment is expected to dominate the market with 70.44% market share
- On the basis of age group, the market is segmented into adults, geriatrics, and pediatric. In 2023, adults segment is expected to dominate the market with 60.95% market share
- On the basis of end user, the market is segmented into hospitals, specialty clinics, trauma centers, Ambulatory Surgical Centers, and others. In 2023, hospitals segment is expected to dominate the market with 72.74% market share
- On the basis of distribution channel, the market is segmented into direct tenders, retail sales, and others. In 2023, direct tenders segment is expected to dominate the market with 70.80% market share
Major Players
Data Bridge Market Research analysis Johnson & Johnson Services (U.S.), Cook (U.S.), Medtronic (U.S.), BD (U.S.), and B. Braun SE (U.S.) as the major market players in the North America hepato-pancreatico-biliary (HPB) surgeries surgical devices market
Market Developments
- In August 2023, Boston Scientific Corporation declared the POLARxTM Cryoablation System has been given U.S. Food and Drug Administration (FDA) approval. The new system uses the POLARx FIT Cryoablation Balloon Catheter, a device with the unusual ability to enable two balloon sizes—28 and 31mm—in one catheter. This catheter is indicated for the treatment of patients with paroxysmal atrial fibrillation (AF). This sort of approval of newly launched products will help the company to gain more brand value and customer reliability
- In September 2022, CONMED Corporation has announced that Curt R. Hartman, Chair of the Board, President, and Chief Executive Officer, and Todd W. Garner, Executive Vice President and Chief Financial Officer, will take part in a fireside chat at the 20th Annual Morgan Stanley North America Healthcare Conference, which will take place on September 13, 2022. This sort of participation has helped the company gain more recognition among competitors and customers
- In April 2022, FUJIFILM Corporation announced the availability of Sonosite LX, the industry leader’s latest premium point-of-care ultrasound system in Canada. This helped the company to expand its product portfolio
- In August 2021, Cook Medical announced that it was expanding its Illinois facility and is hiring over 100 manufacturing employees and five professional positions at their facility in Canton, Illinois. The expanded manufacturing capabilities will help Cook meet patient and customer demand for its medical devices,
- In July 2021, BD, announced it has acquired Tepha, Inc., a leading developer and manufacturer of a proprietary resorbable polymer technology. This strategic acquisition advances BD's category leadership in surgical mesh and enables future innovations to provide new solutions to physicians and their patients
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada, Mexico
As per Data Bridge Market Research analysis:
U.S. is expected to dominate and be the fastest growing country in the region in North America hepato-pancreatico-biliary (HPB) surgeries surgical devices market
U.S. is expected to dominate and be the fastest growing country in the region in North America hepato-pancreatico-biliary (HPB) surgeries surgical devices market due to the presence of major market players and rapid development in pharmaceutical industries in this region. In addition to this, rising strategic initiatives by major market players in the region are expected propel the market's growth rate in this region.
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