The escalating prevalence of diseases linked to the liver and pancreas has emerged as a pivotal factor propelling the market growth. In recent years, the healthcare landscape has witnessed a notable surge in conditions such as liver cirrhosis, hepatocellular carcinoma, pancreatic cancer, and chronic pancreatitis among others. This surge in diseases affecting the liver and pancreas has created a substantial demand for advanced surgical interventions and innovative medical devices. The healthcare industry is witnessing a surge in the number of HPB surgeries performed as these hepato-pancreatic conditions become more prevalent globally. These surgical procedures necessitate a range of specialized devices and instruments designed to facilitate complex surgeries, minimize risks, and improve patient outcomes.
Consequently, the increasing demand for HPB surgeries and the corresponding need for surgical devices has propelled market growth. This trend will persist as healthcare professionals and medical device manufacturers innovate and improve surgical techniques and devices for better patient care. Thus, the rising incidence of liver and pancreas-related diseases drives market growth.
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Data Bridge Market Research analyzes that the Asia-Pacific Hepato-Pancreatico-Biliary (HPB) Surgeries Surgical Devices Market is expected to grow with a CAGR of 9.6% in the forecast period of 2023 to 2030 and is expected to reach USD 2,245,597.16 thousand by 2030. The product segment is projected to propel the market growth as increasing demand for hepato-pancreatico-biliary (HPB) surgeries surgical devices worldwide.
Key Findings of the Study
Incorporation of AI Technology in Surgical Devices
Incorporating AI (Artificial Intelligence) technology into surgical devices presents a remarkable opportunity for market growth. AI has the potential to revolutionize the field of HPB surgery by enhancing precision, improving patient outcomes, and reducing the overall complexity of these intricate procedures. AI can assist surgeons in several ways, such as image analysis for better preoperative planning and intraoperative guidance. Machine learning algorithms can process vast amounts of medical data, enabling more accurate diagnoses and surgical strategies tailored to each patient's unique anatomy. During surgery, AI-powered surgical devices can provide real-time feedback and assistance to surgeons, helping them make more informed decisions and execute precise movements.
Integrating AI into surgical devices holds immense promise for the HPB surgeries and surgical devices market as AI technology advances, attracting healthcare providers and surgeons looking to improve the quality of care they provide, which is expected to create opportunities for market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD thousand
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Segments Covered
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Product (Electrosurgery Instruments, Endoscope, Visualization and Robotic Surgical System, Hand Instruments, Access Instruments, Surgical Suture and Stapler Devices, Energy/Vessel Sealing Devices, Fluid Management System, Stents, and Others), Indication (Liver Cancer, Pancreatic Cancer, Gall Stones, Bile Duct Cancer, Cirrhosis, Pancreatitis, Cholesystitis, Others), Type of Surgery (Open Surgery and Minimally Invasive Surgery), Age Group (Pediatric, Adult, and Geriatric), End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Trauma Centers, and Others), Distribution Channel (Direct Tender, Retail Sales, and Others)
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Countries Covered
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Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, and Rest of Asia-Pacific
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Market Players Covered
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Medtronic (Ireland), Cook (U.S.), Olympus Corporation (Japan), B. Braun SE (Germany), TeleMed Systems, Inc. (U.S.), Boston Scientific Corporation (U.S.), CONMED Corporation (U.S.), BD (U.S.), CooperSurgical Inc (U.S.), KARL STORZ (Germany), Medorah Meditek Pvt. Ltd (India), STERIS (U.S.), FUJIFILM Corporation (Japan), Johnson & Johnson Services, Inc. (U.S.) and among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis
The Asia-Pacific Hepato-Pancreatico-Biliary (HPB) surgeries surgical devices market is segmented into six notable segments based on product, indication, type of surgery, age group, end user, and distribution channel.
- On the basis of product, the market is segmented into electrosurgery instruments, endoscope, visualization and robotic surgical system, hand instruments, access instruments, surgical suture and stapler devices, energy/vessel sealing devices, fluid management system, stents, and others.
In 2023, the electrosurgery instruments segment is expected to dominate the Asia-Pacific Hepato-Pancreatico-Biliary (HPB) surgeries surgical devices market
In 2023, the electrosurgery instruments segment is expected to dominate the market with 27.82% market share due to most preferred product by healthcare professionals.
On the basis of indication, the market is segmented into liver cancer, pancreatic cancer, gall stones, bile duct cancer, cirrhosis, pancreatitis, cholesystitis, and others.
In 2023, the liver cancer segment is expected to dominate the Asia-Pacific Hepato-Pancreatico-Biliary (HPB) surgeries surgical devices market
In 2023, the liver cancer segment is expected to dominate the market with 29.39% market share market due to changes in lifestyle and increasing alcohol consumption.
- On the basis of type of surgery, the market is segmented into open surgery and minimally-invasive surgery. In 2023, the open surgery segment is expected to dominate the market with 72.33% market share.
- On the basis of age group, the market is segmented into adults, geriatrics, and pediatric. In 2023, the adults segment is expected to dominate the market with 62.35% market share.
- On the basis of end user, the market is segmented into hospitals, specialty clinics, trauma centers, ambulatory surgical centers, and others. In 2023, the hospitals segment is expected to dominate the market with 74.04% market share.
- On the basis of distribution channel, the market is segmented into direct tenders, retail sales, and others. In 2023, the direct tenders segment is expected to dominate the market with 71.85% market share.
Major Players
Data Bridge Market Research analyzes Medtronic (Ireland), Cook (U.S.), B. Braun SE (Germany), BD (U.S.), and Johnson & Johnson Services, Inc.(U.S.) as the major players of the Asia-Pacific Hepato-Pancreatico-Biliary (HPB) surgeries surgical devices market.
Market Developments
- In August 2023, Boston Scientific Corporation declared the POLARxTM Cryoablation System has been given the U.S. Food and Drug Administration (FDA) approval. The new system uses the POLARx FIT Cryoablation Balloon Catheter, a device with the unusual ability to enable two balloon sizes—28 and 31mm—in one catheter. This catheter is indicated for the treatment of patients with paroxysmal Atrial Fibrillation (AF). This sort of approval of newly launched products will help the company gain more brand value and customer reliability.
- In September 2022, CONMED Corporation announced that Curt R. Hartman, Chair of the Board, President, and Chief Executive Officer, and Todd W. Garner, Executive Vice President, and Chief Financial Officer, will take part in a fireside chat at the 20th Annual Morgan Stanley Asia-Pacific Healthcare Conference, which will take place on September 13, 2022. This sort of participation has helped the company gain more recognition among competitors and customers.
- In April 2022, FUJIFILM Corporation announced the availability of Sonosite LX, the industry leader’s latest premium point-of-care ultrasound system in Canada. This helped the company to expand its product portfolio.
- In August 2021, Cook Medical announced that it was expanding its Illinois facility and is hiring over 100 manufacturing employees and five professional positions at its facility in Canton, Illinois. The expanded manufacturing capabilities will help Cook meet patient and customer demand for its medical devices.
- In July 2021, BD announced it had acquired Tepha, Inc., a leading developer and manufacturer of a proprietary resorbable polymer technology. This strategic acquisition advances BD's category leadership in surgical mesh and enables future innovations to provide new solutions to physicians and their patients.
Regional Analysis
Geographically, the countries covered in the market report are Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, and Rest of Asia-Pacific.
As per Data Bridge Market Research analysis:
China is the dominant and fastest-growing country in the Asia-Pacific Hepato-Pancreatico-Biliary (HPB) surgeries surgical devices market in the forecast period 2023-2030.
China is expected to be dominate and fastest growing country in the market due to the rising prevalence of pancreatic diseases in the country.
For more detailed information about the Hepato-Pancreatico-Biliary (HPB) surgeries surgical devices market report, click here – https://www.databridgemarketresearch.com/reports/asia-pacific-hepato-pancreatico-biliary-hpb-surgeries-surgical-devices-market
