The global surgical sphincteroplasty market size is expected to reach USD 2.67 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.6% from 2021 to 2028. Sphincteroplasty is a low-cost surgery as compared to other treatments anal incontinence. Factors such as low maintenance surgical tools and a 98.0% success ratio of sphincteroplasty have improved its adoption among surgeons.
The growing prevalence of anal incontinency (AI), increasing frequency of obstetric injury after childbirth, rise in innovative techniques to treat AI, and growing clinical studies are the key contributing factors propelling the growth of the market. Presence of fewer market players makes this a less competitive market. However, to strengthen their market position they are constantly involved in adopting developmental strategies like collaboration and acquisition with other market players.
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Market leaders are also developing newer noninvasive surgical techniques for treating AI more effectively. Such initiatives are said to boost their market presence, fueling market growth. As a result of the COVID-19 pandemic, the healthcare system dealt with a lot of difficulties, such as the reduced impact of virus outbreaks, cancellation of elective and interventional surgeries, and most chronic pain therapies that were considered non-urgent. The market, however, is projected to be back on track and grow more effectively, by mid-2022.
Surgical Sphincteroplasty Market Report Highlights
- The surgery (sphincteroplasty) segment accounted for a revenue share of 28.1% in 2020, in the market
- The non-surgical sub-segment is expected to witness a CAGR of 6.9% during the forecast period. Factors like improved adoption of non- invasive surgeries by surgeons and caregivers and promising and satisfying outcomes have influenced market growth
- The non-surgical segment is further sub-divided into sacral nerve stimulation, vaginal balloon inserts, and others
- North America dominated the market and accounted for the largest revenue share of 34.9% in 2020
- Asia Pacific is anticipated to witness the fastest CAGR of 7.1% over the forecast period owing to the increasing geriatric population
Key Companies & Market Share Insights
An increase in clinical developments to design innovative products is creating promising opportunities in the market for surgical sphincteroplasty. Due to the presence of fewer market players offering surgical technologies to treat anal incontinence, it is said to be a low competitive market. However, development strategies like collaboration and acquisition undertaken by larger market players are said to boost the market growth. For instance, in October 2021, Laborie Medical Technologies acquired Pevalon’s non-surgical segment Eclipse. The segment is responsible for marketing its largest grossing product, vaginal inserts, to treat incontinence among women. Some of the prominent players in the surgical sphincteroplasty market include: Medtronic, Hill-Rom Services, McKesson, B. Braun, Becton, Novo Surgical, Surgical Holdings, Pelvalon, Salix Pharmaceutical Inc., Johnson & Johnson Inc., Dickinson and Company Inc.
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