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Surgical Clips Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 115 Pages
  • January 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5012639

The surgical clips market is projected to register a CAGR of 5.2% over the forecast period.

During the COVID-19 pandemic, most of the elective and non-urgent surgeries have been postponed as the healthcare infrastructure has been reserved for the treatment of COVID-19 patients. As a result, all the surgical departments across the world have been facing a severe downward trend in the number of surgeries performed during the pandemic. According to a research article published in the International Journal of Surgery, 2020, all surgical specialties have had to limit their surgical practices and prioritize the necessary surgeries. The selection of patients for urgent surgery during the pandemic is vitally essential to ensure that patients have post-operative reserves to combat any possibility of being infected with COVID-19. Thus, the reduction in the number of surgical procedures during the COVID-19 pandemic is expected to negatively impact the market's growth.

The significant factors contributing to the studied market's growth include the increasing number of surgical procedures, primarily due to injuries during sports activities and accidents, and cardiac surgeries. The growing burden of cardiovascular diseases and other chronic conditions (where the surgery is being suggested as mandatory) and the increasing elderly population are expected to drive the studied market's growth. 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.

Key Market Trends

The Ligating Clips Segment is Expected to Dominate the Market Over the Forecast Period

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.

North America Dominates the Market and is Expected to do the Same in the Forecast Period

North America is expected to dominate the overall market throughout the forecast period. The market is witnessing growth due 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. Thus, because of the increasing number of surgical procedures and new product approvals, the surgical clips market is expected to grow over the forecast period in North America.

Competitive Landscape

The surgical clips market is moderately competitive and consists of a few major players. Some of the companies currently dominating the market are Ackermann Medical GmbH & Co., B. Braun Melsungen AG, Boston Scientific Corporation, Edwards Lifesciences Corporation, Johnson & Johnson, Lemaitre Vascular Inc., Medtronic PLC, Scanlan International, and Teleflex Incorporated, among others. The key players are evolving through various strategies, such as new product launches and acquisitions, to secure their positions in the global competitive market.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in the Number of Surgical Procedures Worldwide
4.2.2 Surge in the Global Geriatric Population
4.3 Market Restraints
4.3.1 Poor Demand in the Underdeveloped Countries
4.3.2 Complications Associated with Surgical Clips
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Type
5.1.1 Ligating Clips
5.1.2 Aneurysm Clips
5.1.3 Other Types
5.2 By Material Type
5.2.1 Titanium
5.2.2 Polymer
5.2.3 Other Material Types
5.3 By Surgery Type
5.3.1 Automated Surgery Clips
5.3.2 Manual Surgery Clips
5.4 Geography
5.4.1 North America United States (By Type, By Material, and By Surgery) Canada (By Type, By Material, and By Surgery) Mexico (By Type, By Material, and By Surgery)
5.4.2 Europe Germany (By Type, By Material, and By Surgery) United Kingdom (By Type, By Material, and By Surgery) France (By Type, By Material, and By Surgery) Italy (By Type, By Material, and By Surgery) Spain (By Type, By Material, and By Surgery) Rest of Europe (By Type, By Material, and By Surgery)
5.4.3 Asia-Pacific China (By Type, By Material, and By Surgery) Japan (By Type, By Material, and By Surgery) India (By Type, By Material, and By Surgery) Australia (By Type, By Material, and By Surgery) South Korea (By Type, By Material, and By Surgery) Rest of Asia-Pacific (By Type, By Material, and By Surgery)
5.4.4 Middle-East and Africa GCC (By Type, By Material, and By Surgery) South Africa (By Type, By Material, and By Surgery) Rest of Middle-East and Africa (By Type, By Material, and By Surgery)
5.4.5 South America Brazil (By Type, By Material, and By Surgery) Argentina (By Type, By Material, and By Surgery) Rest of South America (By Type, By Material, and By Surgery)
6.1 Company Profiles
6.1.1 Ackermann Medical GmbH & Co.
6.1.2 B. Braun Melsungen AG
6.1.3 Boston Scientific Corporation
6.1.4 Edwards Lifesciences Corporation
6.1.5 Johnson & Johnson
6.1.6 Lemaitre Vascular Inc.
6.1.7 Medtronic PLC
6.1.8 Scanlan International
6.1.9 Teleflex Incorporated
6.1.10 Grena Ltd
6.1.11 Stapleline Medizintechnik GmbH
6.1.12 Cook Medical
6.1.13 Aesculap Inc.
6.1.14 Betatech Medical
6.1.15 Kent Scientific Corporation
6.1.16 Hangzhou Optcla Medical Instrument Co. Ltd
6.1.17 EndoVision
6.1.18 Hangzhou Kangji Medical Instruments Co. Ltd
6.1.19 LocaMed Ltd
6.1.20 Zhejiang Geyi Medical Instrument Co. Ltd

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 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
  • Stapleline Medizintechnik GmbH
  • Cook Medical
  • Aesculap Inc.
  • Betatech Medical
  • Kent Scientific Corporation
  • Hangzhou Optcla Medical Instrument Co. Ltd
  • EndoVision
  • Hangzhou Kangji Medical Instruments Co. Ltd
  • LocaMed Ltd
  • Zhejiang Geyi Medical Instrument Co. Ltd