Market Overview:
The global anular closure device market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing incidence of annular tears, rising demand for minimally invasive surgeries, and technological advancements in anular closure devices. Based on type, the global anular closure device market is segmented into suturing system, surgical mesh, and reherniation reduction device. Suturing system held the largest share of the global anular closure device market in 2017 owing to its high adoption rate across various applications. However, surgical mesh is expected to grow at a higher CAGR during the forecast period as it offers several benefits such as reduced implantation time and less post-operative pain when compared with other devices. Based on application, hospitals accounted for majority of the share of the global anular closure device market in 2017 due to increased use of these devices for complex spine surgeries.
Product Definition:
Anular closure device is a medical device used to close an opening in the annulus, or outer wall, of the heart. The device is typically made of metal mesh and is placed around the opening using a delivery system such as a catheter. Once in place, the anular closure device expands to securely close the opening. The device may be left in place permanently or removed after healing has occurred.
Suturing System:
A suturing system is a medical device used for closing or sealing cut, puncture or tear in the body. Suturing systems are gaining popularity due to technological advancement and increasing prevalence of chronic diseases such as cardiovascular disorders, orthopedic conditions & cancer. The global suturing system market size was valued at USD 1.6 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period.
Surgical Mesh:
A surgical mesh is a device used for closing or sealing anular defects. The most common use of the surgical mesh is in the repair of ventral hernia, which includes abdominal wall hernias and pelvic floor hernias. Surgical meshes are also used to close other types of anular defects such as perianal fistula, perianal wound, and rectal tear among others.
Application Insights:
Based on application, the global anular closure device market is segmented into hospitals, ambulatory surgical centers and spine surgery centers, and others. The hospitals segment dominated the market in 2017 owing to increasing prevalence of chronic diseases such as heart disease, cancer, respiratory disorders along with rising number of surgeries. In addition, a large number of products are used in cardiac procedures which further drives their demand globally.
The ambulatory surgical center (ASC) segment is expected to grow at a significant rate over the forecast period due to growing awareness about minimally invasive procedures among surgeons coupled with increasing availability of ASCs across the globe. Increasing cases of back pain & spondylolisthesis also drive their demand globally as they provide relief from neck & back pain by reducing inflammation around injury site resulting in faster healing process.
Regional Analysis:
North America dominated the global anular closure device market in 2017. This can be attributed to the presence of a large number of industry players, high prevalence of spinal disorders, and availability of advanced products. The Asia Pacific is expected to grow at a lucrative rate over the forecast period owing to increasing government initiatives for improving healthcare infrastructure and reimbursement policies that encourage medical tourism in this region.
Moreover, rising awareness about minimally invasive surgeries is anticipated to drive growth during the forecast period. In addition, growing medical tourism due to low procedural costs is also expected favorably impact regional growth during the forecast period. Europe accounted for more than 20% share in 2017 owing its developed healthcare system and favorable reimbursement policies towards surgical procedures performed via minimally invasive methods such as anular closures devices (SID).
Growth Factors:
- Increasing incidence of anular tears and defects
- Rising demand for minimally invasive surgeries
- Growing popularity of anular closure devices among surgeons
- Technological advancements in anular closure devices
- increasing healthcare expenditure
Scope Of The Report
Report Attributes
Report Details
Report Title
Anular Closure Device Market Research Report
By Type
Suturing System, Surgical Mesh, Reherniation Reduction Device
By Application
Hospitals, Ambulatory Surgical Centers, Spine Surgery Centers
By Companies
Intrinsic Therapeutics, Anulex Technologies, Inc., Magellan Spine Technologies, Inc.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Anular Closure Device Market Report Segments:
The global Anular Closure Device market is segmented on the basis of:
Types
Suturing System, Surgical Mesh, Reherniation Reduction Device
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Ambulatory Surgical Centers, Spine Surgery Centers
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Intrinsic Therapeutics
- Anulex Technologies, Inc.
- Magellan Spine Technologies, Inc.
Highlights of The Anular Closure Device Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Suturing System
- Surgical Mesh
- Reherniation Reduction Device
- By Application:
- Hospitals
- Ambulatory Surgical Centers
- Spine Surgery Centers
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Anular Closure Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Anular closure devices are a type of birth control that work by stopping the sperm from entering the woman's uterus. This is done by using a ring or patch that sits on top of the vagina and blocks any sperm from reaching the uterus.
Some of the major players in the anular closure device market are Intrinsic Therapeutics, Anulex Technologies, Inc., Magellan Spine Technologies, Inc..
The anular closure device market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Anular Closure Device Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Anular Closure Device Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Anular Closure Device Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Anular Closure Device Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Anular Closure Device Market Size & Forecast, 2018-2028 4.5.1 Anular Closure Device Market Size and Y-o-Y Growth 4.5.2 Anular Closure Device Market Absolute $ Opportunity
Chapter 5 Global Anular Closure Device Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Anular Closure Device Market Size Forecast by Type
5.2.1 Suturing System
5.2.2 Surgical Mesh
5.2.3 Reherniation Reduction Device
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Anular Closure Device Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Anular Closure Device Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Ambulatory Surgical Centers
6.2.3 Spine Surgery Centers
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Anular Closure Device Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Anular Closure Device Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Anular Closure Device Analysis and Forecast
9.1 Introduction
9.2 North America Anular Closure Device Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Anular Closure Device Market Size Forecast by Type
9.6.1 Suturing System
9.6.2 Surgical Mesh
9.6.3 Reherniation Reduction Device
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Anular Closure Device Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Ambulatory Surgical Centers
9.10.3 Spine Surgery Centers
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Anular Closure Device Analysis and Forecast
10.1 Introduction
10.2 Europe Anular Closure Device Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Anular Closure Device Market Size Forecast by Type
10.6.1 Suturing System
10.6.2 Surgical Mesh
10.6.3 Reherniation Reduction Device
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Anular Closure Device Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Ambulatory Surgical Centers
10.10.3 Spine Surgery Centers
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Anular Closure Device Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Anular Closure Device Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Anular Closure Device Market Size Forecast by Type
11.6.1 Suturing System
11.6.2 Surgical Mesh
11.6.3 Reherniation Reduction Device
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Anular Closure Device Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Ambulatory Surgical Centers
11.10.3 Spine Surgery Centers
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Anular Closure Device Analysis and Forecast
12.1 Introduction
12.2 Latin America Anular Closure Device Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Anular Closure Device Market Size Forecast by Type
12.6.1 Suturing System
12.6.2 Surgical Mesh
12.6.3 Reherniation Reduction Device
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Anular Closure Device Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Ambulatory Surgical Centers
12.10.3 Spine Surgery Centers
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Anular Closure Device Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Anular Closure Device Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Anular Closure Device Market Size Forecast by Type
13.6.1 Suturing System
13.6.2 Surgical Mesh
13.6.3 Reherniation Reduction Device
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Anular Closure Device Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Ambulatory Surgical Centers
13.10.3 Spine Surgery Centers
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Anular Closure Device Market: Competitive Dashboard
14.2 Global Anular Closure Device Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Intrinsic Therapeutics
14.3.2 Anulex Technologies, Inc.
14.3.3 Magellan Spine Technologies, Inc.