China Surgical Staplers Market (2018-2023)
China Surgical Staplers Market
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.
Key growth factors:
- 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).
- The China surgical staplers market is further segmented based on its applications - abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries.
Threats and key players:
- 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.
- 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.
What's covered in the report?
- 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.
- 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.
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 marketWhy buy?
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