PUBLISHER: The Business Research Company | PRODUCT CODE: 1409429
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409429
“Foreign Body Removal Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on foreign body removal market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for foreign body removal? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The foreign body removal market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Foreign body removal involves the process of extracting objects that have become lodged or impacted in different areas of the body. These foreign bodies can be acquired through ingestion, inhalation, or injuries affecting various regions of the body.
The primary types of devices used in foreign body removal include forceps, retrieval baskets, balloon catheters, surgical scissors, and others. Forceps are specialized tools designed for delicate procedures that require a firm grip, hold, or pulling action. The applications for foreign body removal span areas such as the stomach, gut, mouth, ear, nose, and others. End users of these devices include hospitals and clinics, ambulatory surgical centers, and other medical facilities.
The foreign body removal market research report is one of a series of new reports from The Business Research Company that provides foreign body removal market statistics, including foreign body removal industry global market size, regional shares, competitors with foreign body removal market share, detailed foreign body removal market segments, market trends, and opportunities, and any further data you may need to thrive in the foreign body removal industry. This foreign body removal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The foreign body removal market size has grown strongly in recent years. It will grow from $1.95 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth observed in the historical period can be attributed to several factors, including the increasing incidence of accidents leading to foreign body entrapment, a rising geriatric population requiring medical interventions, improvements in healthcare infrastructure facilitating foreign body removal procedures, the growing awareness of foreign body-related issues, and an expanding geographic reach of healthcare services. These factors collectively contributed to the increased demand for and adoption of foreign body removal procedures during the specified historical timeframe.
The foreign body removal market size is expected to see strong growth in the next few years. It will grow to $2.61 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to various factors, including the sustained increase in foreign body ingestion and aspiration rates, ongoing innovations in surgical techniques for removal, a growing emphasis on awareness and education about foreign body risks, global population growth contributing to more cases, and a rise in pediatric cases. Major trends expected in this forecast period include a rising demand for minimally invasive surgery techniques, the increasing prevalence of chronic diseases necessitating foreign body removal procedures, a growing geriatric population requiring medical attention, continuous technological advancements in medical practices, and an overall increase in awareness regarding the importance of addressing foreign body-related issues.
The anticipated surge in the demand for minimally invasive surgery is set to drive the growth of the foreign body removal market. Minimally invasive surgical procedures involve smaller incisions, shorter recovery times, and fewer stitches. Foreign body removal, a minimally invasive surgical intervention, focuses on extracting objects lodged in the digestive system or other body regions that have been swallowed. The rise in demand for minimally invasive surgery, especially for foreign body removal, stems from the increasing preference for procedures that offer reduced invasiveness. An ASPS survey in the USA revealed that 35% of women who underwent cosmetic surgeries or minimally invasive procedures in the previous year anticipated increased expenditure on treatments in 2021. This growing preference for minimally invasive surgeries is a significant driving force behind the increased demand for the foreign body removal market.
The escalating number of accidents is expected to significantly contribute to the growth of the foreign body removal market. Accidents, unforeseen incidents resulting in harm or injury, often necessitate prompt intervention to remove foreign bodies, preventing potential complications and reducing tissue damage, infections, and discomfort. Foreign body removal devices play a critical role in accident scenarios, aiding in effective and swift intervention to minimize secondary injuries and aid in the healing process. For instance, data from the World Health Organization in June 2022 highlighted that approximately 1.3 million individuals die annually from road accidents globally. This alarming increase in accidents is a key factor driving the demand for foreign body removal interventions to address related injuries and complications.
Technological innovations stand out as a significant trend shaping the foreign body removal market. Leading companies within this market are focused on developing technologically advanced solutions to fortify their market positions. Olympus Corporation, a Japan-based manufacturer of optical and reprography products, launched a line of single-use Foreign Body Retrieval devices in December 2021. These devices provide doctors with diverse options, catering to infection prevention requirements and specialized interventions. Specifically designed single-use gripping forceps replace previously available reusable devices, aiding in the retrieval of foreign substances, stents, and removed tissue, such as polyps. This technological advancement aligns with the industry's endeavor to offer efficient and safer solutions for foreign body removal procedures, emphasizing infection prevention and specialized applications.
Key players within the foreign body removal market are emphasizing the development of innovative products, particularly microsurgery instruments, to bolster their market revenues. Microsurgery instruments serve as specialized tools utilized for precise and intricate procedures on small anatomical structures such as blood vessels, nerves, and bones. An exemplar in this realm is the launch of the infinex series by Surtex Instruments Ltd., a US-based instrument manufacturer, in November 2023. This new series boasts a self-centering handle design, optimizing the cutting force of the blade while ensuring proper hand alignment. The Magna and Maestro brands within the product line epitomize surgical innovation and craftsmanship. Notably, the Infinex Magna line features diamond-dusted jaws on microsurgery forceps and needle holders, enhancing instrument durability and providing surgeons with superior grip, stability, and control in intricate surgical settings. This innovative approach aims to elevate surgical precision and effectiveness in foreign body removal procedures.
In December 2021, Alleima, a Sweden-based manufacturer specializing in advanced stainless steels and special alloys, executed the acquisition of Endosmart Gesellschaft fur Medizintechnik GmbH (Endosmart GmbH) for an undisclosed sum. This strategic acquisition is poised to expand Alleima's capabilities and diversify its portfolio by introducing new products and materials. Endosmart GmbH, a Germany-based medical devices and components manufacturing company, specializes in offering a range of products such as retrieval baskets, snares, breast cancer tumor markers, and surgical instruments. The acquisition of Endosmart is aimed at synergizing capabilities, leveraging innovative solutions, and broadening Alleima's scope within the medical device industry, specifically enhancing their offerings in foreign body removal and related medical procedures.
Major companies operating in the foreign body removal market report are Boston Scientific Corporation, CONMED Corporation, MEDIVATORS Inc., Applied Medical Resources Corporation, Olympus Corporation, Diversatek Inc., Endo-Therapeutics Inc., Bernell Corporation, Rumex International Co., Anthony Products Inc., GerMedUSA Inc., UrgentMED, Optics Incorporated, Cook Medical LLC, Medtronic plc, Stryker Corporation, Smith & Nephew plc, Johnson & Johnson Services Inc., B. Braun Melsungen AG, Teleflex Incorporated, C. R. Bard Inc., Merit Medical Systems Inc., Terumo Corporation, Abbott Laboratories, Cardinal Health Inc., Becton Dickinson and Company, Teleflex Medical OEM, Cook Group Incorporated, AngioDynamics Inc., Hologic Inc., Integra LifeSciences Holdings Corporation, Zimmer Biomet Holdings Inc., Karl Storz SE & Co. KG, Fujifilm Holdings Corporation, Richard Wolf GmbH, Pentax Medical Company .
North America was the largest region in the foreign body removal market in 2023. The regions covered in the foreign body removal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the foreign body removal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The foreign body removal market consists of sales of loops, coagulation forceps, coagulation knife and cryoprobes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.