Like suturing, the surgical stapling is often used as an alternate to the traditional methods whereas, it is technological advancement in the medical wound closure techniques. The enormous use of the surgical staplers not only accelerates the closure process but also decreases the post procedural complexities such as decreases the hospital stays, bleeding and many more.
Additionally, in the many regions across the Latin America are observing epidemiologic and nutrition transitions. The epidemiologic transition is classified by the movement from the extraordinary infectious diseases and mortality to grow of non-communicable syndromes. The nutrition transition is owing to a movement from wide commonness of the malnutrition to numerousness of diet-related non-communicable syndromes such as obesity. The Obesity grows the probability of having the heart difficulties owing to increase in the cholesterol level and several others, thereby increasing the possibility of demanding the cardiac surgeries as well as bariatric surgeries for the stomach fat deduction.
Not only has this, AON broadcasted in 2016 a deal to attain Admix to generate its position in the increasing private health insurance market in the economy. All such aspects are fueling the growth to the surgical staplers market across the economy. According to the report analysis, ‘Latin America Surgical Staplers Market (2018-2023)’ states that in the Latin America surgical staplers market, there are several key players which recently happening more actively for leading the fastest market growth and registering the handsome value of market share during the reviewed period while adopting the profit making strategies, studying and analyzing the government regulations, developing the productivity of the product and delivering the better consumer satisfaction includes Johnson & Johnson, B Braun, 3M, Dextera Surgical, Intuitive Surgical, Medtronic, Grena Ltd., and several others.
Additionally, the Latin America surgical staplers market is predicted to increase at a handsome CAGR of 6.70%, leading to a revenue of USD 0.21 Bn by 2023. For instance, the Latin American regions manage the high tariffs on some medical products, generating the difficulties for medical devices exporters from other economies. This might challenge the import and utilize of surgical staplers produced by big U.S. companies such as Ethicon. Furthermore, owing to the region’s great unemployment rate, several recipients opted out of the private health insurance segment in between 2014 to 2016 to eradicate the payment of premium. Also, to cut down on expenditures, corporates in Brazil are uninterruptedly substituting their employees' health insurance schedules with the inexpensive coverage plans. This might lead individual to opt for lower number of surgeries, and that would restrict the implementation surgical staplers.
Although, along the augmented globalisation, life expectation is sophisticated in Latin America, and with that, the weight of non-communicable diseases like hypertension, diabetes, cancer, and obesity has grown as well. Also, ageing of the overall populace in Latin America will lead the increment to the age-related problems like weak bones, heart problems, and several others. These factors will lead to an augment in the number of surgeries in the economy more significantly. Therefore, in the near years, it is anticipated that the market of surgical staplers will increase around the globe over the coming decades.
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Ankur Gupta, Head Marketing & Communications