The significance of colorectal surgical devices is underscored by the transformative impact on patient outcomes through advancements in minimally invasive procedures. Colorectal surgical devices are pivotal in enabling techniques such as laparoscopic and robotic-assisted surgeries. These procedures offer notable advantages, including shorter recovery times, diminished postoperative pain, and the use of smaller incisions. The adoption of such advanced techniques enhances patient comfort, accelerates recovery, and reduces the overall stress associated with traditional surgical approaches.
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Data Bridge Market Research analyses the Global Colorectal Surgical Devices Market is growing with a CAGR of 13.1% in the forecast period of 2022 to 2029. It is expected to reach USD 27,559.70 million by 2029 from USD 10,315.00 million in 2021. The surge in colorectal diseases, encompassing conditions such as colorectal cancer, diverticulitis, ulcerative colitis, and Crohn's disease, is a major driver for the colorectal surgical devices market
Key Findings of the Study
Rising awareness and early diagnosis is expected to drive the market's growth rate
The heightened awareness surrounding colorectal diseases, coupled with an emphasis on early diagnosis, is pivotal in driving the demand for colorectal surgical devices. As public awareness increases, individuals are more inclined to seek medical attention promptly, resulting in a surge in early-stage colorectal disease diagnoses. This shift towards early detection improves patient outcomes and fuels the demand for surgical interventions to address these conditions. The colorectal surgical devices market experiences a positive impact, with a growing need for advanced tools and technologies to support effective and timely colorectal surgical procedures.
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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2022 to 2029
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Base Year
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2021
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Historic Year
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Endoscope, Electrosurgery, Handheld Instruments, Sealing Devices, Surgical Stapling Devices, Accessories), Indication (Colorectal Cancer, Diverticulitis, Ulcerative Colitis, Crohn's Disease, Others), End User (Surgical Centers, Hospitals, Clinics, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Turkey, Russia, Netherlands, Switzerland, Belgium, Rest of Europe, China, Japan, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Israel, Egypt, and Rest of Middle East and Africa
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Market Players Covered
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Abbott (U.S.), Johnson & Johnson Services, Inc. (U.S.), B. Braun Melsungen AG (Germany), BD (U.S.), Boston Scientific Corporation (U.S.), Cardinal Health (U.S), CONMED Corporation (U.S.), Cook (U.S.), CooperSurgical, Inc. (U.S.), Medtronic (Ireland), Smith & Nephew (U.K.), Stryker (U.S.), W.L. Gore & Associates, Inc. (U.S.), Richard Wolf GmbH (Germany), Olympus Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Hebson (India), Teleflex Incorporated, PENTAX Medical (Japan), and 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 global colorectal surgical devices market is segmented on the basis of product type, indication, and end user.
- On the basis of product type, the global colorectal surgical devices market is segmented into endoscope, hand held instruments, electro-surgery, surgical stapling devices, sealing devices, and accessories. The endoscope segment is expected to dominate the global colorectal surgical devices market due to its essential role in minimally invasive surgeries, enabling physicians to visualize and perform procedures inside the body with reduced trauma with the highest CAGR of 14.0%
The endoscope segment of product type is expected to dominate the global colorectal surgical devices market in the forecast period 2022-2029
The endoscope segment of the product type segment is expected to dominate in the global colorectal surgical devices market with a CAGR of 14.0% due to its crucial role in minimally invasive surgeries, which have become increasingly popular due to their benefits such as reduced trauma, quicker recovery times, and smaller incisions. Endoscopes provide surgeons with a high-definition, real-time visualization of internal body structures, enabling precise and efficient interventions. The growing preference for minimally invasive procedures, coupled with advancements in endoscopic technologies, has led to an expanded application of endoscopes in various medical specialties.
- On the basis of indication, the global colorectal surgical devices market is segmented into colorectal cancer, diverticulitis, Crohn’s disease, ulcer-colitis, and others. The colorectal cancer is expected to dominate the market due to its high prevalence globally and the increasing incidence of colorectal cancer cases, with the highest CAGR of 15.0%
The colorectal cancer segment of the indication segment is expected to dominate the global colorectal surgical devices market in the forecast period of 2022 to 2029
The colorectal cancer segment of the indication segment is expected to dominate in the global colorectal surgical devices market with a CAGR of 15.0% because it is a prevalent and life-threatening condition, representing a significant global health burden. The rising incidence of colorectal cancer cases worldwide has fueled the demand for diagnostic and therapeutic interventions. Additionally, advancements in screening technologies and a growing emphasis on early detection contribute to the prominence of this segment. Moreover, increased awareness among healthcare professionals and the general population regarding the importance of colorectal cancer screening further drives market growth.
- On the basis of end user, the global colorectal surgical devices market is segmented into surgical centers, hospitals, clinics, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major global colorectal surgical devices market players in global colorectal surgical devices market are Abbott (U.S.), Johnson & Johnson Services, Inc. (U.S.), B. Braun Melsungen AG (Germany), BD (U.S.), Boston Scientific Corporation (U.S.), Cardinal Health (U.S), CONMED Corporation (U.S.), Cook (U.S.)
Market Developments
- In October 2021, Medtronic plc achieved a significant milestone by receiving the CE (Conformité Européenne) Mark for its Hugo robotic-assisted surgery (RAS) system. This approval for urologic and gynecologic procedures marks a pivotal step, as these procedures collectively constitute approximately half of all robotic surgeries performed. The CE Mark clearance signifies regulatory authorization for the sale and distribution of the Hugo™ system in the Europe market, reflecting Medtronic's commitment to advancing robotic-assisted surgical technologies in the region
- In May 2021, The Cooper Companies Inc. strategically expanded its position in the healthcare market by acquiring OBP Medical. This move underscores the company's commitment to addressing providers' needs by enhancing its surgical segment's product portfolio. The acquisition reinforces The Cooper Companies Inc.'s focus on delivering impactful solutions to the medical community
- In October 2020, 3M launched the PREVENA RESTOR AXIO•FORM Incision Management System, a cutting-edge solution tailored for effectively managing post-operative incisions and the surrounding soft tissue envelope. This innovative system is designed to address the unique challenges associated with orthopedic surgical repair of lower extremity fractures. With its introduction, 3M aims to enhance post-operative care by providing surgeons with an advanced tool to manage incisions and promote optimal healing in orthopedic patients undergoing lower extremity fracture procedures
- In May 2022, Medtronic announced conclusive findings from a globally conducted, randomized study confirming the effectiveness of gastrointestinal (GI) endoscopy. This multinational investigation underscores the significance of GI endoscopy in diagnosing and treating various digestive conditions. The comprehensive nature of the study, spanning diverse populations and regions, enhances the credibility of the evidence supporting the utility of this medical technology. Medtronic's commitment to advancing healthcare technology is highlighted by these results, which contribute valuable insights to inform clinical practices and shape future medical guidelines. The findings reinforce Medtronic's role as a leading player in medical technology, dedicated to improving patient care and outcomes in the realm of gastrointestinal health
Regional Analysis
Geographically, the countries covered in the global colorectal surgical devices market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.
As per Data Bridge Market Research analysis:
North America is estimated to be the fastest growing region in global colorectal surgical devices market for the forecast period 2022-2029
In North America, the U.S. is expected to dominate the market, driven by key industry players, a substantial consumer base with a high GDP, and a robust technological landscape. The U.S., in particular, is expected to experience significant growth attributed to technological advancements. The country's commitment to innovation and openness to adopting technological solutions in healthcare contribute to its leading position in the market. With a combination of economic strength, influential market players, and a forward-looking approach to technology, North America, especially the U.S., emerges as a dominant force in the evolving landscape of the specified market.
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