The Surgical Sphincteroplasty Market Growth is valued at US$ 1.6 billion and is predicted to reach US$ 3.2 billion by the end of 2032 at a CAGR of 7.4%, according to the most recent analysis released by Future Market Insights, a leading Market Research firm. The compound annual growth rate projected is much higher than the historical CAGR of 6.1%. Furthermore, over the next 10 years, the market is estimated to create an absolute dollar potential of US$ 1.6 billion.
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Key Takeaways from the Market Study
- The market is predicted to develop at a 4% CAGR, which is much higher than the previous 6.1% CAGR.
- The global market for Surgical Sphincteroplasty will be valued US$ 3.2 billion by the end of 2032.
- Between 2022 and 2032, the market is estimated to offer an absolute dollar opportunity of US$ 1.6 billion.
- The Non-Surgical segment, for example, is increasing at a CAGR of 2%, compared to a historical growth rate of 6.1% between 2017 and 2021.
- The United States accounts for 35% of the global market for Surgical Sphincteroplasty. It is predicted to expand at a CAGR of 2% between 2022 and 2032.
- The Japanese market is expected to grow at the highest CAGR of 1% followed by China at the forecasted rate of 8.3%.
The COVID-19 pandemic prompted stringent lockdown, shortage of healthcare staffs, cancellation of clinical trials and elective surgical procedures, thus moderately hampering the growth of surgical sphincteroplasty market, comments a Future Market Insights analyst.
Competitive Landscape
The market is being driven by market players who are expanding their product portfolios by heavily investing in R&D and product development. Government funding, technological breakthroughs, regulatory approvals, mergers and acquisitions, and a diverse product offering have all contributed to the environment remaining competitive. New product launches and the expansion of existing operations in the untapped international market are expected to benefit the leading companies.
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The key competitors in the Surgical Sphincteroplasty Market are:
- Medtronic
- Hill-Rom Services, Inc.
- McKesson
- Braun
- Becton
- Dickinson and Company
- Novo Surgical, Inc.
- Surgical Holdings
- Pelvalon
- Salix Pharmaceutical Inc.
- Johnson & Johnson
The major developments in the Surgical Sphincteroplasty Market are:
- In December 2021, Baxter International Inc. completed the $12.5 billion acquisition of Hillrom to accelerate its aim of shifting the healthcare sector from hospitals to homes.
- In November 2021, McKesson sold a 30% stake in the German GEHE-Alliance Healthcare Joint Venture to Walgreens Boots Alliance. As a result of this, Walgreens Boots Alliance will take entire control of the GEHE-Alliance Venture.
- Becton, Dickinson and Company bought Tissuemed Ltd. in December 2021 to expand its existing product offering. It will build on BD’s experience and Tissuemed’s solid base to become a worldwide leader.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Surgical Sphincteroplasty market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2022 to 2032.
The study reveals essential insights on the basis of Type (Surgical and Non-Surgical), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Market Segments Covered In Surgical Sphincteroplasty Market Analysis
By Type:
- Surgical
- Direct apposition sphincteroplasty
- Overlapping sphincteroplasty
- Non-Surgical
- Sacral nerve stimulation
- Vaginal balloon inserts
- Other Non-Surgical
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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