Surgical Clips Market size is forecast to reach $6.9 billion by 2025, growing at a CAGR of 5.41% during the forecast period 2020-2025. Surgical clips are sterile medical devices which are used to hold things together. Growing emphasis on patient safety and demand for enhanced treatment outcomes during surgical procedures are the major factors driving the growth of the market. Increasing number of cardiac and vascular surgeries being performed worldwide and technological advancements in clipping is set to further enhance the overall market demand of surgical clips during the forecast period 2020-2025.
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Product – Segment Analysis
The Ligating clip segment held the largest share in the surgical clips market in 2019 and is estimated to grow at a CAGR of 4.21% during the forecast period 2020-2025. This is owing to increase in number of surgeries and increase in geriatric population. However, the aneurysm clips segment is set to exhibit rapid growth in the market during the forecast period 2020-2025 owing to increase in prevalence of aneurysm, and growth in demand for aneurysm clipping. The increase in number of surgical procedures is owing to the increasing injuries during sports activities and cardiac surgeries owing to high prevalence of cardiovascular diseases.
Types – Segment Analysis
The titanium surgical clips segment dominates the global market and it is estimated to remain dominant during the forecast period 2020-2025.This is mainly owing to its advantage of inertness and cost effectiveness. They have a wide range of uses such as wound closure and bowel anastomoses. Titanium surgical clips is a very effective and it allows the surgeon to cut down on the actual time of the surgery.
The global surgical clips market is segmented into hospital & clinic and ambulatory surgery center. At present, the hospital & clinic segment is the major revenue contributor, and is estimated to remain dominant during the forecast period 2020-2025.High number of patients and greater volume of surgeries mainly contribute to the dominance of hospitals segment in the global surgical clips market. However, ambulatory surgery center segment is forecast to register fastest growth in the market during the forecast period 2020-2025 owing to growth in the number of ambulatory surgery centers. The support of the ambulatory surgery center association to ambulatory surgery centers is projected to boost the growth in the global surgical clips market.
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Geography – Segment Analysis
North America dominates the global surgical clips market in 2019 with a market share of more than 41.8%. This is mainly owing to increasing incidence of chronic diseases and rising number of surgical cases in the region and the availability of higher number of trained medical professionals and supportive reimbursement policies in the healthcare system. In this region the U.S hold the maximum share owing to supportive policies in the healthcare system.
However, Asia-Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025. This is owing to the developing medical infrastructure, increasing spending on healthcare and growing population and also owing to the rise in the number of surgeries along with the adoption of surgical clips.
Drivers – Surgical Clips market
Growth in number of surgical procedures across the globe with the rise in the adoption of surgical clips in the medical treatment is increasing the demand for enhanced treatment outcomes during surgical procedures. The increasing number of surgical cases drives the demand for surgical clips in the market. Surgical clips do not enter the body and so it is used for neurological, general, and orthopaedic surgeries. Surgeons are preferring the manual procedure owing to cost-effectiveness. Furthermore, the automated surgical clips segment is projected to experience substantial growth in the global surgical clips market. Surgical clips are applied during cholecystectomy on the cystic duct and artery. Rarely one or more clips can get displaced. This is usually dropped during this laparoscopic procedure.
With the rise in the adoption of robotic and minimally invasive surgeries and the significant growth potential, there has been an increasing usage of surgical clips during the time of surgeries. Surgical clips have a variety of medical applications like vasectomy or to prevent blood loss from blood vessels during surgery. The efficient use of the surgical clips ensures safety to surgical procedure which is also helpful to reduce the procedural time and related risks. Surgical clips are clamped over the vessels and arteries to control the bleeding and owing to their reliability, cost effectiveness and convenience of treatment and are widely used during the surgeries of geriatric population.
Challenges – Surgical Clips Market
Some of the factors that is estimated to impede the growth of the surgical clips market are the migration of clips from one place to another, which can be harmful to the patient. The reason behind the migration of clips from one place to another is the pressure exerted from the intra-abdominal organ movements. Also the use of surgical clips can lead to complications during diagnostic imaging procedures which can hamper the growth of the market.
Surgical Clips Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the surgical clips market. In 2019, surgical clips market share is consolidated by the top ten players present in the market. Surgical clips market top 10 companies Ackermann Medical GmbH & Co, B. Braun Melsungen AG, Boston Scientific Corporation, Edwards Lifesciences Corporation, Johnson & Johnson, Lemaitre Vascular, Inc., Medtronic Plc., Scanlan International, Teleflex Incorporated. among others.
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