According to the most recent report published by Future Market Insights, a leading Market Research firm, the Surgical Sphincteroplasty Market Growth is valued at US$ 1.5 billion and is expected to reach US$ 3.2 billion by the end of 2032 at a CAGR of 7.4%. The forecasted compound annual growth rate is significantly higher than the historical CAGR of 6.1%. Furthermore, the market is expected to provide an absolute dollar opportunity of $1.6 billion over the next ten years.
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The Surgical Sphincteroplasty Market Growth is valued at US$ 1.5 billion and is expected to reach US$ 3.2 billion by the end of 2032 at a CAGR of 7.4%, according to the most recent report published by Future Market Insights, a leading Market Research firm. The compound annual growth rate forecasted is significantly higher than the historical CAGR of 6.1%. Furthermore, the market is expected to provide a $1.6 billion absolute dollar opportunity over the next ten years.
Key Takeaways from the Market Study
- The market is expected to grow at a 4% CAGR, which is significantly higher than the 6.1% CAGR recorded in the past.
- By the end of 2032, the global market for Surgical Sphincteroplasty will be worth US$ 3.2 billion.
- The market is expected to offer an absolute dollar opportunity of US$ 1.6 billion between 2022 and 2032.
- Among other segments, the Non-Surgical segment is growing at a CAGR of 2%, whereas its historical growth rate was only 6.1% between 2017 and 2021.
- The U.S. market for Surgical Sphincteroplasty accounts for 35% of the global market. During the forecasted period of 2022 to 2032, it is expected to grow at a CAGR of 2%.
- 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:
- Baxter International Inc. completed the acquisition of Hillrom for US$ 12.5 billion in December 2021 to accelerate its vision of transforming the healthcare sector from hospitals to homes.
- McKesson sold a 30% stake in the German GEHE-Alliance Healthcare Joint Venture to Walgreens Boots Alliance in November 2021. This will result in Walgreens Boots Alliance gaining complete control of the GEHE-Alliance Venture.
- Tissuemed Ltd. was acquired by Becton, Dickinson and Company in December 2021 to advance its existing product portfolio. It will leverage BD’s experience and Tissuemed’s solid foundation to establish itself as a global 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 (2017-2021) and forecast statistics for the period of 2022-2032.
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).
Future Market Insights’ Domain Knowledge in Healthcare Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Healthcare domain team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the Healthcare industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Future Market Insights (ESOMAR certified 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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