Surgical Clips Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMHOS1215 | Last Updated On: Jun 21 2022 | Available Formats

> Global Surgical Clips Market Expected to reach a high CAGR of 4.93% By 2029: DataM Intelligence

Global Surgical Clips Market is segmented By Product Type (Ligating Clips, Aneurysm Clips, Others), By Material Type (Polymer, Tantalum, Stainless Steel, Titanium, Others), By Surgery Type (Automated Surgery Clips, Manual Surgery Clips), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global "Surgical Clips Market" is expected to grow at a CAGR of 5.5% during the forecasting period (2022-2029).

Surgical clips are sterile medical devices used for rapid control of bleeding from blood vessels and arteries. These clips do not require to penetrate the blood vessels, and thus, are preferably used instead of staples for some surgical applications. Features of surgical clips such as lower cost as compared to other surgical devices, better sterilization and inertness, watertight closure, and ready-to-use and handy pre-loaded disposable clip cartridge.

Market Dynamics

The global surgical clips market growth is driven by the growth in a number of surgical procedures across geographies with an increase in awareness of clipping. Furthermore, the surge in the number of chronic diseases, and technological advancements in clipping are expected to boost the growth of the surgical clips market during the forecast period.

The increase in the number of surgical procedures worldwide will drive the market growth    

The rising number of individuals undergoing surgical procedures due to the widespread prevalence of chronic ailments, such as arthritis, cancer, obesity, and cardiovascular diseases (CVDs), represents one of the major growth-inducing factors. This can also be attributed to the growing geriatric population worldwide, which is more vulnerable to medical conditions that require surgical interventions. According to Globocan 2020, the incidence of cancer cases was estimated at 19,292,789 cases in 2020, globally. Similarly, according to the British Heart Foundation's Heart and Circulatory Disease Statistics 2020, a total of 167,116 patients with heart and circulatory diseases were diagnosed in 2018 in the United Kingdom. Thus, the high incidence of chronic diseases increases the demand for surgical procedures, which in turn is expected to significantly aid the growth of the surgical clips market over the forecast period.

Furthermore, the expanding medical tourism sector, coupled with the increasing popularity of cosmetic surgeries, is bolstering the market growth. Apart from this, a significant rise in fatal road accidents and high hospital admission rates are catalyzing the demand for surgical clips around the wound.

The growing prevalence of surgical clips resistance will hamper the growth of the market

However, retained clips lead to diminished quality of computed tomography (CT) and magnetic resonance imaging (MRI) images and cause complications.  Moreover, the implementation of stringent healthcare norms that promote safety and efficacy during invasive surgical procedures is impelling the market growth.

COVID-19 Impact Analysis

COVID-19 has negatively impacted the market. This is due to the heavy reduction of elective surgeries and reduced surgeon capacity to perform them. The operating rooms where these surgeries are performed are highly prone to COVID-19 infection spread, thus risking the life of surgeons and patients. In addition, the unavailability of surgical staff and the willingness of the patients to undergo surgeries were the major drawbacks observed during the pandemic. Manufacturing facilities remained shut leading to a shortage of surgical tools, which also hindered the market growth. However, guidelines provided specifically for each specialty to provide safe and effective surgical care are expected to reduce the ramifications of the pandemic during the forecast period.

The impact of COVID-19 on the raw material sectors is also expected to have direct repercussions on the market growth. In addition, strict regulatory guidelines on the production, use, and disposal of polymer-based medical devices may hamper the entry of new market players. The current slowdown in raw material supply is anticipated to boost the replacement rate of other materials, such as stainless steel and alloys, with advanced polymer-based products.

Segment Analysis

The ligating clips  segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)        

The demand for ligating clips is increasing in the market, and it is estimated to rise further during the forecast period. The growth of the ligating clips market is majorly attributed to the increasing number of surgeries and the growing burden of the geriatric population. These clips are used in surgeries for vessel closures and insecure fixation on the tubular structures.

As per the United Nations' World Population Prospects: the 2019 Revision, one in six people in the world will be over the age of 65 years by 2050, which is up from one in 11 in 2019. This growing elderly population is more prone to chronic diseases, which may increase the number of surgeries performed. According to Eurostat, 2018, approximately 1.4 million cesarean sections were performed in the European Union in 2018, while transluminal coronary angioplasties were the most common in Croatia and Germany, accounting for an average of 411 and 409 procedures per 100,000 inhabitants, respectively. Additionally, according to the Lancet Commission for Global Surgery (LCoGS), a minimum of 5000 surgeries per 100,000 population are to be performed to meet the surgical burden of diseases in low- and middle-income countries (LMICs) by 2030. Thus, the growing count of surgeries being performed worldwide and the ever-increasing elderly population are expected to drive the growth of the studied segment over the forecast period.

Geographical Analysis

North America region holds the largest market share of the global surgical clips market

North America dominates the market for surgical clips and is expected to show a similar trend over the forecast period, owing to factors such as the presence of key players, high incidence of chronic diseases, accidents, and trauma in the region, and established regional healthcare infrastructure. In the North American region, the United States has the maximum share due to supportive healthcare policies, a high number of target patients, and an increasing inclination toward sophisticated healthcare facilities.

For instance, according to OECD, the number of cesarean sections performed in the United States was 1,208,176 procedures in 2018. The high number of surgeries being performed in the region is the major factor driving the studied market's growth.

Decreased post-operative brain contusions, prolonged efficacy of aneurysm clipping, and reduced serious complications led to the increased adoption of the aneurysm clipping technique, which positively impacted the market in the region.

Competitive Landscape

The surgical clips market is a moderately competitive presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include 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, Grena Ltd among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the surgical clips market globally. For instance, In November 2020, Taiwan Surgical Corporation launched InnoClipTM 5mm Multi-fire Titanium Clip Applier to reduce the trauma, recovery time, and the risk of infection and scarring in minimally invasive surgeries (MIS).

B. Braun Melsungen AG  

Overview:

B. Braun Melsungen AG (B. Braun) develops, manufactures, and distributes medical technology and pharmaceutical products, and provides medical services.     

Product Portfolio:

Titanium Ligation-Clips:  The Clip appliers in conjunction with the proven Aesculap Titanium Ligation-Clips, a reliable combination. The special closing characteristic of the clip allows repositioning of the clip and reduces the risk of tissue slippage out of the clip.

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