As per the latest 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 anticipated to reach the valuation of US$ 3.2 Billion by the end of 2032 by growing at a CAGR of 7.4%. The compound annual growth rate for the forecasted period is significantly higher from the historical CAGR of 6.1%. Furthermore, the market is expected to offer an absolute dollar opportunity of US$ 1.6 Billion in the upcoming 10 years.
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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.
Key Takeaways from the Market Study
- 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 Billion.
- 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 US. market for Surgical Sphincteroplasty constitutes a majority stake of 35% 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 acquired 30% 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 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).
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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 (FMI)
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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