Analyzing the Market and Competitive Landscape for Surgical Staples
The surgical staples market is anticipated to witness rapid growth as the applications of stapling in medicine has gradually moved from open surgery to endoscopic surgery. With a goal to improve patient outcomes, the healthcare industry is steadily shifting toward the adoption of advanced medical devices for new surgical techniques, for instance, the increasing preference […]READ MORE >>
The surgical staples market is anticipated to witness rapid growth as the applications of stapling in medicine has gradually moved from open surgery to endoscopic surgery.
With a goal to improve patient outcomes, the healthcare industry is steadily shifting toward the adoption of advanced medical devices for new surgical techniques, for instance, the increasing preference for surgical staples over conventional sutures. Besides being a complicated process, sutured surgical sites are likely to exhibit wound leakage and separation. Surgical staples, on the other hand, offer faster recovery, higher accuracy, efficient wound closure, and reduced hospital stay. With rapid technological advances, especially in the healthcare sector, the majority of market players are commercializing staples for endoscopic surgeries. These devices find extensive applications across various branches of medicine including tissue and wound management procedures, gynecology, thoracic, gastrointestinal related surgeries.
In emerging markets such as India and China, surgical staples are widely employed for bariatric and endoscopic surgeries and cosmetic/skin grafting procedures. Although the adoption of surgical staples is growing at an exponential rate, the market is facing several challenges. The increasing incidences of allergies owing to the use of metallic surgical staples is one of the major challenges facing this market. Infiniti’s research experts have a deep understanding of the medical devices sector, helping them provide strategic insights to the client in terms of market assessment, competitive landscape, and market entry strategies.
The Business Challenge
A leading healthcare company based out of Germany wanted an in-depth understanding of the market landscape for surgical staples including market dynamics, current sales trends, growth drivers, challenges, and competition. Without a clear visibility of the market size and potential, the client was unable to develop an effective growth and marketing strategy. As a part of the market intelligence study, the client wanted insights into market opportunities, potential challenges, and market size estimation for internal staplers across the target regions.
Our Research Methodology
Our market intelligence experts carried out a robust, thorough, and well-proven process in conducting research studies. Our research analysts offered actionable insights based on specific client needs through a meticulous process of collecting, filtering and analyzing information on the target markets, competitors, and customer segments. An initial hypothesis was developed around the target segments, and the potential respondents were identified through robust secondary research. Furthermore, we collated information from external sources and conducted in-depth interviews and discussions with market stakeholders across the value chain of the global surgical stapling market in target regions.
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Our Solution Helped the Client:
- Identify the market opportunities, potential markets, and competitors
- Analyze average growth rate, total sales, and average selling price of surgical staples
- Expand their product portfolio across low-penetrated target regions
Benefits of Our Integrated Approach
After a detailed analysis and comprehensive benchmarking exercise, the company obtained an in-depth understanding of the market. Within a span of eight weeks, our market intelligence team analyzed the market size for the product lines (circular stapler, linear stapler, and linear cutting stapler) and end-user application segments. We helped the clients understand the competitive landscape, assess and enter new markets, and analyze customer needs and satisfaction levels.
We identified the key competitors, their products, regulatory timelines, and technologies employed which helped the client make informed decisions. Moreover, the client saw clear benefits from our relationship; not only in terms of the revenue impact or analytics turnaround time but also in terms of the experience we were staging for them by exposing them to a new way of problem-solving.
Some of the key points appreciated by our clients
- Dedicated Market Assessment. A centralized platform for the collection, storing, processing, reporting, and dissemination of information with the specific purpose of assisting the decision-making process and developing actionable insights. This portal includes comprehensive information on quantitative and qualitative aspects on target markets, competitors and end-users.
- Collaborative learning. We leveraged the experience of our healthcare team and our technical capabilities to enable report-sharing and other collaborative features appreciated by our clients.
- Interactive Dashboard. Using our portal-based solution for healthcare professionals, we took a design-first approach to problem-solving and helped break through previously held assertions.
- Value for Money. Infiniti’s dedicated client management team customizes reports to suit business requirements and offers the best insights for every dollar spent.
A must-read case study for strategy experts and decision makers looking to gain insights into the healthcare industry.
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