According to the most recent report published by Future Market Insights, a reputable market research company, the surgical sphincteroplasty market is currently valued at US$ 1.5 billion and is projected to grow at a compound annual growth rate (CAGR) of 7.4% to reach US$ 3.2 billion by the end of 2032. The compound annual growth rate for the predicted term is significantly higher than the historical CAGR of 6.1%. Furthermore, it is projected that the market will offer an absolute dollar opportunity of US$ 1.6 billion over the next ten years.
The Non-Surgical segment generated the most revenue in the Global Surgical Sphincteroplasty Market in 2021, rising at a CAGR of 7.2%. The Non-Surgical segment produced the most revenue in the Global Surgical Sphincteroplasty Market in 2021, growing at a higher CAGR of 7.2 than the other segment that year. The geriatric population favors treatments that reverse or stop effects of injury, and the Sacral Nerve Resection treatment earned an excellent success rate by accomplishing this without permanently injuring the nerves that surround it.
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Key Takeaways :
- The Market is expected to grow at a CAGR of 4%which is significantly higher than its historical CAGR of 6.1%.
- By the end of 2032, the Global market for Surgical Sphincteroplasty will reach the valuation of US$ 3.2 Bn.
- Within the period between 2022 and 2032, the market is expected to offer an absolute dollar opportunity of US$ 1.6 Billion.
- The Non-Surgical segment leads among other segments by growing at a CAGR of 2%while its historical growth was just 6.1%during the period between 2017 and 2021.
- The U.S. market for Surgical Sphincteroplasty constitutes a majority stake of35%in the global market. It is expected to grow at a CAGR of 2%during the forecasted period of 2022 to 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 Surgical Sphincteroplasty Market is driven by the market players who are expanding their product portfolios by highly investing in the R&D and product development areas. Government funding, technological breakthroughs, regulatory clearances, mergers and acquisitions, and a diversified product offering have all helped to maintain the environment competitive. The leading companies are expected to gain from new product releases and the expansion of present operations in the untapped international market.
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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 acquisition of Hillrom for US$ 12.5 Billion to accelerate its vision of transforming the healthcare sector from hospitals to home.
- In November 2021, Walgreens Boots Alliance acquired30% stake in German GEHE-Alliance Healthcare Joint Venture from McKesson. This will result in takeover of 100% control of GEHE-Alliance Venture by Walgreens Boots Alliance.
- In December 2021, Tissuemed Ltd. was acquired by Becton, Dickinson and Company to make further advancements in its existing product portfolio. It will combine BD’s experience with Tissuemed’s solid base to establish itself as a dominant player across the globe.
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).
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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.
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
By Region type:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Others
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Russia
- Others
- APAC
- India
- China
- Japan
- South Korea
- Australia
- Others
- Other
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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