LONDON--(EON: Enhanced Online News)--Technavio research analysts forecast the global laparotomy sponges market to grow at a CAGR of close to 8% during the forecast period, according to their latest report.
“These advanced laparotomy sponges clinically proved that they reduce the occurrence of miscounted and misplaced sponges and eliminate retained surgical sponges. Such advanced products are expected to drive the global laparotomy sponges market”
The study covers the present scenario and growth prospects of the global laparotomy sponges market for 2016-2020. The report also lists radiopaque laparotomy sponges, traditional laparotomy sponges, and RFID laparotomy sponges as the three major product segments in the market.
“According to the National Institute of Diabetes and Digestive and Kidney Diseases report in 2010, approximately 60-70 million individuals are affected by digestive disease worldwide. Thus, the growing number of abdominal disorders such as colon cancer and irritable bowel syndrome will lead to open abdominal surgeries, which, in turn, will drive the demand for laparotomy sponges,” says Barath Palada, a lead analyst at Technavio for medical devices research.
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Technavio healthcare and life sciences analysts highlight the following four drivers that are contributing to the growth of the global laparotomy sponges market:
- Growing number of abdominal laparotomy procedures
- Advances in technology
- Use of product bundling strategy
Growing number of abdominal laparotomy procedures
The growing number of laparotomy procedures is expected to drive the global laparotomy sponges market. The increasing number of laparotomy procedures is due to increased prevalence of intestinal diseases. For instance, according to the Mayo Clinic, approximately 300,000 laparotomies are performed every year in the US alone. Moreover, the growing number of bariatric surgeries too, is expected to drive demand for laparotomy. In 2015, the Centers for Disease Control and Prevention in the US reported that annually more than 250 million surgical procedures are performed worldwide, of which about 51.4 million surgeries were performed in the US. Thus, all these parameters augur well for the growth of laparotomy sponges market.
Advances in technology
Technological advancements in laparotomy sponges are providing opportunities for both vendors and healthcare providers to address healthcare challenges such as sterilization and affordable healthcare services. Advances in technology will lead to the development of innovative products equipped with cutting-edge technologies. Some of the laparotomy sponges available in the market are labeled with RFID tags, which help to reduce retention of sponges and improve the quality of the operation. Also, manufacturers are focusing on developing cost-effective and affordable technologies such as RFID tag sponges, which have a price range of USD 30-50. In addition, the emergence of sterile laparotomy sponge is due to its advantages such as enhanced safety from infective agents.
“These advanced laparotomy sponges clinically proved that they reduce the occurrence of miscounted and misplaced sponges and eliminate retained surgical sponges. Such advanced products are expected to drive the global laparotomy sponges market,” says Barath.
Use of product bundling strategy
Product bundling strategy is increasingly gaining popularity as companies try to overcome expenses such as acquisition-related costs. This strategy can significantly increase profits over time. In product bundling, multiple products are packaged together and sold as a single solution. First-aid kits, surgical sets, and custom procedure trays containing medical dressings and wound care products, such as laparotomy sponges, are some of the products sold through this strategy. Vendors also use this strategy to market and sell disposable dressing kits comprising disposable surgical dressing bags, medical bed sheets, masks and caps; laparotomy sponges; and medical hand sanitizers. These bundled products help surgeons to perform surgeries simply and in an organized manner. This strategy is a gaining popularity in the healthcare sector as it allows vendors to sell multiple products together.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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