In a recent published report, Kenneth Research has updated the Market report for Asia China Surgical Staplers Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Asia China Surgical Staplers Market Products.
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According to the statistics by the WHO, grew from 6.20% in 2001 to 6.69% in 2018. Additionally, the current healthcare expenditure per capita (current US$) grew 3x from USD 222.49 in 2001 to USD 721.88 in 2018.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Surgical stapling is a technological advancement in medical wound closure methods and is often used as an alternative to traditional methods like suturing. The China surgical staplers market is expected to grow at a high CAGR through the forecast period.
Rise in consumer income, ageing of the overall Chinese population, and favorable government initiatives are fuelling China’s healthcare market which in turn is expected to propel the surgical staplers market in the country. The Chinese government policy is focused on improving health care accessibility and affordability to the general public. Also, the government in China is keen on adopting new and advanced technologies in the healthcare landscape.
Given the healthcare sector’s favourable growth prospects, foreign medical companies like Boston Scientific signed a strategic alliance with Frankenman Medical Equipment Company in China, which is a local market leader dealing in surgical staplers. In addition to partnerships, favourable regulatory policies are helping Chinese companies grow faster and develop medical devices at a cheaper rate than the U.S. and making China one of the surgical staplers’ patents producing countries.
o The China surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable surgical staplers. The reusable surgical stapler segment is expected to grow at a higher CAGR in the forecast period (2018-2023).
o The China surgical staplers market is further segmented based on its applications – abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries.
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Key growth factors:
o China’s medical device market is one of the fastest growing markets with double-digit growth rates for over a decade. Also, healthcare expenditure in China is expected to increase to between 6.5% and 7% by 2020. These are expected to increase the adoption of advanced medical devices like surgical staplers in the market.
o China is launching trials and issuing policies to push the growth of commercial health insurance, which previously had a minimal role in the healthcare system. The coming years are expected to have reimbursement schemes on offer with public health insurance as the pillar and private insurance as a meaningful supplement. This would allow people of the country to opt for complicated and expensive surgeries which, without health insurances, would not have been possible, and therefore boosts the growth of the surgical staplers market.
Threats and key players:
o Companies interested in entering the Chinese surgical staplers market often face barriers like language problems and a volatile regulatory environment. Also, medical device companies face pressure to cut down on prices for public hospitals. The procurement process, price limits, and secondary bargaining issues relating to the centralized procurement and bidding process in China hinder the entry of foreign companies, thereby stalling the overall growth of the surgical staplers market.
o The key players in the China surgical staplers market are Ethicon (Johnson & Johnson), Covidien (Medtronic), Frankenman International Ltd, B.Braun, Reach Surgical, Lepu Medical, etc.
What’s covered in the report?
1. Overview of the China surgical staplers market
2. Analysis of the value chain of surgical staplers
3. Historical, current and forecasted market size data for the China surgical staplers market
4. Historical, current and forecasted market size data for the China surgical staplers market segmentation- by product – manual and powered surgical staplers market
5. Historical, current and forecasted market size data for the China surgical staplers market segmentation- by type – disposable and reusable surgical staplers market
6. Historical, current and forecasted market size data for China surgical staplers market segmentation- by application – abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries
7. Market trends in the China surgical staplers market
8. Qualitative analysis of the key drivers and challenges affecting the China surgical staplers market and its segmentations (by product- manual and powered, by type -reusable and disposable, by application- abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries)
9. Analysis of the competitive landscape and profiles of major players operating in the market
1. Get a broad understanding of the China surgical staplers market
2. Get an understanding of how the surgical staplers reach end users from the manufacturers
3. Get specific drivers and challenges for surgical staplers market and its segmentations (by product- manual and powered, by type – reusable and disposable, by application- abdominal surgery, cardiac surgery, orthopedic surgery, general surgery and other surgeries)
4. Recognize major competitors’ business and market dynamics, and respond accordingly
The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Asia China Surgical Staplers Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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