Medtronic, Stryker, and Johnson & Johnson Services Inc. were Dominating the Global Colorectal Surgical Devices Market in 2021

The Global Colorectal Surgical Devices Market is expected to grow with a CAGR of 13.1% in the forecast period of 2022 to 2029. The years considered for the study are mentioned below.

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The global colorectal surgical devices market is a highly consolidated market, including a specific number of key players. The market has witnessed increased strategic developments owing to a favourable market scenario.

Major players dealing in the global colorectal surgical devices market are introducing a strong range of product providers, launching new devices, and adopting strategic initiatives such as acquisition, agreement, business expansion, award, and recognition. This helped companies to maximize sales with an enhanced product portfolio.

For instance:

  • In May 2021, The Cooper Companies Inc., announced the acquisition of obp Medical to focus on providing impactful solutions that address providers’ needs. This acquisition has helped the company to increase the surgical segment’s product portfolio.

Medtronic is the dominating player in the global colorectal surgical devices market. The other key players existing in the market are BD, Boston Scientific Corporation, Johnson & Johnson Services Inc., COOK Group, Cardinal Health, CONMED Corporation, Olympus Corporation, Teleflex Incorporated, Smith + Nephew, KARL STORZ SE & Co. KG, W. L. Gore & Associates, Inc., Richard Wolf GmbH, Hebson, Hallmark surgical, SAFEHEAL, Stryker, The Cooper Companies Inc., PENTAX Medical, Ovesco Endoscopy AG, BiPAD Surgical, Inc., Symmetry Surgical Inc., Summit Hill Laboratories among others.  

Medtronic

Medtronic was founded in 1979, with headquarters in Minneapolis, U.S. The company is focused on biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health and extend life. The company have various business segments such as cardiovascular, neuroscience, medical-surgical and diabetes, in which medical-surgical is the market focused category.

The company provide products via various product categories such as Cerebral Oximetry, Colorectal Health, Crohn's Disease – Information and Diagnostic Technologies, Gastrointestinal Health, GYN & Women’s Health, ICU Early Mobility, ICU Sedation, Lung Health and Thoracic Surgery, Manage Neonatal Stressors, Medical Surgical Monitoring, Minimally Invasive Colorectal Surgery, Obesity & Metabolic Health, Patient-Ventilator Asynchrony, Postoperative Delirium, Procedural Sedation Outside the Operating Room, Respiratory Compromise, Ventilator-Associated Pneumonia and Ventilator Weaning Management in which Colorectal Health is the market focused category.

For instance,

  • In February 2022, Medtronic partnered with the American Society for Gastrointestinal Endoscopy (ASGE) to provide colorectal cancer screening technologies in low income and underserved communities across the United States. This has increased the company’s revenue and product portfolio.

The company has a wide presence across North America, APAC, and Europe. They have various subsidiaries across the globe, which are Arterial Vascular Engineering UK Limited (United Kingdom), AVE Connaught Ireland, AVE Galway Limited (Ireland), AVE Ireland Limited (Ireland), AVECOR Cardiovascular Limited (United Kingdom), B.V. Medtronic FSC (Netherlands), and Cardiotron Medizintechnik G.m.b.H. (Germany).

Stryker

Stryker was founded in 1894, with headquarters in Michigan, U.S. The company focuses on providing the products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. The company have various business segments, such as MedSurg & Neurotechnology and Orthopedics & Spine, in which MedSurg & Neurotechnology is the market focused category.

The company provide products via various product categories such as MedSurg & Neurotechnology and Orthopedics & Spine, in which MedSurg & Neurotechnology is the market focused category.

For instance,

  • In September 2018, Stryker announced that they had completed the acquisition of K2M Group Holdings, Inc., a global leader in complex spine and minimally invasive solutions. This acquisition has helped the company to increase its minimally invasive solutions portfolio.

The company has a presence across North America, South America, Europe, Middle East and Africa, and Asia-Pacific. The company has various subsidiaries, such as Aimago SA (Switzerland), NV Stryker SA (Belgium), Stryker Capital BV (the Netherlands), Stryker China Limited (Hong Kong), and Stryker Colombia SAS (Colombia), among others.

Johnson & Johnson Services, Inc.

Johnson & Johnson Services, Inc. was founded in 1866, headquartered in New Jersey, U.S. The company focuses on improving accessibility and affordability, creating healthier communities, and putting a healthy mind, body, and environment. The company have various business segments such as Consumer Health, Medical Devices, and Pharmaceutical Products, in which Medical Devices is the market focused.

The company provide products via various product categories such as Consumer Health, Medical Devices, and Pharmaceutical Products in which Medical Devices is the market focused category.

For instance,

  • In May 2022, Johnson & Johnson Services, Inc. announced that its MONARCH Platform received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for endourological procedures. This FDA clearance has increased company sales in the U.S. for the medical device segment.

The company has a presence across South America, North America, South Asia, Oceania, East Asia, and Europe. The company has various subsidiaries such as Acclarent (U.S.), Actelion Pharmaceuticals US, Inc. (U.S.), Akros Medical, Inc (U.S.), ALZA Corporation (U.S.), and Ethicon LLC (U.S.) among others.