ANASTOMOSIS DEVICES MARKET ANALYSIS

The global anastomosis devices market was valued at US$ 21.2 Mn in 2022 and is forecast to reach a value of US$ 32.4 Mn by 2030 at a CAGR of 5.4% between 2023 and 2030. The anastomosis devices market is experiencing strong growth due to the increasing prevalence of cardiovascular diseases and rise in number of surgical procedures around the world. Moreover, increasing demand for anastomosis devices and rise in burden of gastrointestinal cancer around the world is expected to boost the market growth. However, factors such as availability of other substitutes and high cost of anastomosis devices are expected to hamper the market growth.

Global Anastomosis Devices Market: Regional Insights

Based on geography, the global anastomosis devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period due to the increasing prevalence of cardiac and gastrointestinal diseases, rising number of cardiac and gastrointestinal surgeries, increasing preference for minimally invasive surgeries, and increase in demand for anastomosis devices in this region. For instance, according to the Centers for Disease Control and Prevention (CDC), cardiovascular disease is the leading cause of death in the United States. One person dies every 33 seconds in the U.S. from cardiovascular disease. Over 695,000 people in the U.S. died from heart disease in 2021; that’s 1 in every 5 deaths.

Europe and Asia Pacific are also expected to witness significant growth in the global anastomosis devices market owing to the rise in burden of cardiac and gastrointestinal disease, rising number of cardiac or gastrointestinal surgeries, and rise in demand for anastomosis devices in these region. For instance, gastrointestinal disorders are responsible for around 1 million deaths each year across Europe across all ages, and are associated with substantial morbidity and healthcare costs. Around 332 million people are estimated to be living with a digestive disorder in Europe, according to the report from United European Gastroenterology (UEG).

Figure 1. Global Anastomosis Devices Market Share (%), by Region, 2023

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Global Anastomosis Devices Market Drivers:

Rise in burden of cardiac disease to propel market growth

One of the key factors expected to augment the growth of the global anastomosis devices market over the forecast period is the increasing prevalence of cardiovascular diseases worldwide. Such a high burden of cardiovascular diseases leads to an increased number of surgical procedures and is expected to increase demand for anastomosis devices. According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death across the globe, taking an estimated 17.9 million lives each year. More than 4 out of 5 CVD deaths are due to heart attacks and strokes, and one third of these deaths occur in people under 70 years of age.

Rise in number of surgical procedures to underpin market growth

Another factor which is driving the growth of the global anastomosis devices market is the rise in number of surgical procedures (such as cardiac or gastrointestinal surgeries) around the world. For instance, according to the National Institutes of Health (NIH), each year, around 2 million people around the world have open-heart surgery to treat various heart problems. Moreover, over 500,000 people undergo open-heart surgery each year in the United States to correct various cardiovascular diseases. Thus, with the increasing number of cardiac or gastrointestinal surgeries, the demand for anastomosis devices is also increasing worldwide.

Global Anastomosis Devices Market Opportunities:

Increasing demand for anastomosis devices across the globe is expected to offer significant growth opportunities for players in the anastomosis devices market. For instance, anastomosis devices are used during surgical procedure that involves connecting two structures and is performed after the resection of an organ to connect a remaining sections. In January 2023, Lydus Medical announced that the Vesseal has received FDA (Food and Drug Administration) clearance 510(k). Vesseal is a microvascular anastomosis suture deployment system, for standardized omni-vessel anastomoses, enabling the simple, fast, safe, and effective procedures.

Rise in burden of gastrointestinal cancer around the world is expected to provide significant growth opportunities for players in the global anastomosis devices market. For instance, according to the International Agency for Research on Cancer (IARC), a part of the World Health Organization of the United Nations, gastrointestinal (GI) cancers account for around one in four cancer cases and one in three cancer deaths globally. Gastrointestinal cancers account for 26% of the global cancer incidence and around 35% of all cancer-related deaths. However, there is considerable variation in incidence and mortality rates across the world.

Global Anastomosis Devices Market Trends:

Increase in number of GI surgeries is a recent trend

Rise in burden of gastrointestinal (GI) diseases lead to an increased number of surgical procedures and is expected to increase the demand for anastomosis devices. Intestinal anastomosis is a surgical procedure performed to establish communication between two formerly distant parts of intestine. This procedure restores intestinal continuity after removal of a pathologic condition affecting the bowel. Intestinal anastomosis is performed following the surgical removal of part of the intestine due to intestinal diseases or cancer. This trend is expected to continue over the forecast period.

Growing geriatric population is another trend

People age 65 and older are more likely than younger people to suffer from cardiovascular disease. Aging can cause changes in the heart vessels and blood vessels that can increase a person's risk of developing cardiovascular disease. Moreover, aging increases the risk of chronic diseases such as cancer, diabetes, arthritis, and dementias. According to the National Institute of Health (NIH), over 85% of older adults have at least one chronic health condition, and 60% have at least two chronic conditions. This trend is also expected to continue over the forecast period.

Global Anastomosis Devices Market Restraints:

High cost of anastomosis devices to hinder market growth

One of the key factors expected to hamper the growth of the global anastomosis devices market is the high cost of anastomosis devices. For instance, developing anastomosis devices is an extremely cost-incentive process. Moreover, developing novel devices that effectively meet the market needs requires significant investment in research and development (R&D). The high cost of anastomosis devices further increases the cost of surgical procedure. This in turn is expected to hamper the use or adoption of anastomosis devices, restraining the market growth.

Availability of other substitutes to hamper market growth

Another factor hampering the growth of the global anastomosis devices market is the availability of other substitutes. For instance, internal substitutes, such as sutures and staplers, are increasingly being used for an anastomosis during various surgical procedure. As a result, surgeons still prefer to use sutures and staplers to perform anastomosis. Moreover, anastomosis devices found limited application in the developing countries due to the lack of marketing approval. Hence, the adoption of anastomosis devices is expected to be hampered by these substitutes.

Figure 2. Global Anastomosis Devices Market Share (%), by Product, 2023

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Global Anastomosis Devices Market Segmentation:

The global anastomosis devices market report is segmented into Product, Application, and Region.

Based on Type, the market is segmented into Disposable and Reusable. Out of which, Disposable Segment is expected to dominate the anastomosis devices market over the forecast period and this is attributed to the availability of an array of disposable anastomotic products.

Reusable Segment is also expected to witness significant growth in the near future and this is owing to the increasing adoption of reusable anastomosis devices.

Based on Application, the market is segmented into Cardiovascular Surgery, Gastro-Intestinal Surgery, and Others. Of which, Cardiovascular Surgery Segment is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of cardiovascular diseases and increasing number of cardiovascular surgeries.

Gastro-Intestinal Surgery Segment is also expected to witness robust growth in the near future and this is owing to increasing prevalence of gastrointestinal (GI) diseases and increasing number of gastrointestinal surgeries across the globe.

Global Anastomosis Devices Market: Key Developments

In January 2022, Seger Surgical Solutions commenced the development of next-gen laparoscopic bowel closure device for intracorporeal anastomosis (IA). The new device, named LAP IA 60, is capable of aligning, closing, and stapling common opening for intracorporeal anastomosis quickly, securely, and without the need for suturing.

In March 2021, Vascular Graft Solutions Ltd. received a receipt of marketing authorization from the Food and Drug Administration (FDA) for VIOLA. This is a new device for clampless proximal anastomosis in Coronary Artery Bypass Graft (CABG).

In September 2020, GI Windows Medical Corporation announced that the U.S. FDA has granted Breakthrough Device Designation for the self-forming magnetic compression anastomosis device indicated for small bowel end to end anastomosis for ileostomy reversal or tissue resection.

Global Anastomosis Devices Market: Key Companies Insights

The global anastomosis devices market is highly competitive. This is attributed to the increasing prevalence of cardiovascular and gastrointestinal (GI) diseases, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global anastomosis devices market are Medtronic, Liva Nova PLC, Dextera Surgical Inc., Ethicon US, LLC., Synovis Micro Alliance, Inc., Vitalitec International Inc., and MAQUET Holding B. V. & Co. KG., among others.

*Definition: A word anastomosis is a medical term for a surgical connection between two tubular structures, channels, or passages that typically do not attach. In medical terminology, anastomosis is when surgeons connect two tube-like structures inside the body. Anastomosis devices are widely used during surgical procedure that involves connecting two structures and is performed after the resection of an organ to connect a remaining sections.