SAN FRANCISCO, Sept. 20, 2021 /PRNewswire/ -- The global surgical clips marketsize is expected to reach USD 2.3 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 26.7% from 2021 to 2028. An increasing number of surgical procedures, the growing geriatric population, ease of operations, cost efficiency, and rising adoption of minimally invasive surgeries are the factors expected to contribute to the market growth. The presence of a large number of players at the global and local levels and their growth strategies to enhance product portfolios are likely to boost the market growth.
Key Insights & Findings:
By material, the titanium segment accounted for the largest revenue share in 2020 due to its tensile strength, no deterioration property, inexpensiveness, and compatibility with imaging modalities
Based on surgery type, the general surgery segment held the largest share in 2020
In terms of end user, hospitals grabbed the largest share in 2020 owing to the rise in the number of cases and preventive surgeries performed in this end-user setting
Asia Pacific held the largest share in 2020 due to the rising adoption of surgical clips over traditional ligation techniques and the increased geriatric population
The adoption of surgical clips not only in laparoscopic procedures but also in open surgeries is expected to boost their demand in the upcoming years. Minimized incision size during surgeries and improved recovery time are the leading factors fueling the adoption of these devices among surgeons. The rise in robotic surgery procedures due to their high precision and surgical accuracy is also anticipated to play an important role in the market growth.
The market witnessed a slight decline during the COVID-19 pandemic due to canceling elective procedures. With the surgical procedures resuming in most of the regions with strict guidelines and an increasing number of vaccinated people, the market is likely to stabilize under strict guidelines by early 2022.
Grand View Research has segmented the global surgical clips market on the basis of type, material, surgery type, end user, and region:
Surgical Clips Type Outlook (Revenue, USD Million, 2016 - 2028)
Surgical Clips Material Outlook (Revenue, USD Million, 2016 - 2028)
Surgical Clips Surgery Type Outlook (Revenue, USD Million, 2016 - 2028)
Surgical Clips Regional Outlook (Revenue, USD Million, 2016 - 2028)
Middle East & Africa
List of Key Players of Surgical Clips Market
Ackermann Medical GmbH & Co.
B. Braun Melsungen AG
Boston Scientific Corporation
Edwards Lifesciences Corporation
Johnson & Johnson (Ethicon)
Scanlan International, Inc.
MERIL LIFESCIENCES Pvt. Ltd.
Anrei and Sinolinks
Check out more studies related to surgical devices and equipment, conducted by Grand View Research:
Surgical Drainage Devices Market – The global surgical drainage devices market size was valued at USD 1.15 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% from 2021 to 2028. The market witnessed a substantial decline in 2020 owing to the ongoing COVID-19 pandemic.
Surgical Equipment Market – The global surgical equipment market size was valued at USD 9.32 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.8% from 2021 to 2028. Large unmet surgical needs, growing healthcare costs, rising geriatric population, and increasing surgical volume are the key factor projected to drive the market growth during the forecast period.
Surgical Robots Market – The global surgical robots market size was valued at USD 2.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 21.6% from 2021 to 2028. Growing adoption and acceptance of Minimally Invasive Surgeries (MIS) owing to benefits, such as shorter hospital stays, and the introduction of cost-effective & flexible surgical robots by new players are some of the key factors driving the growth of this market.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.