The vessel sealing devices market is expected to witness a CAGR of nearly 4.25%, over the forecast period.
Global Vessel Sealing Devices market impacted by will Covid-19 pandemic at moderate growth rate. In the business world, the COVID-19 pandemic has created unprecedented economic uncertainty. While some businesses are relatively insulated due to low exposure, many others have been unable to avoid the pandemic's effects and are experiencing financial hardship. However, the number of surgeries is declined during the Covid-19 hampered the market growth. According to a British Journal of Surgery report 2020, approximately 28 million surgeries have been canceled or postponed during Covid 19. Thus Vessel Sealing devices market was substantially impacted by the Covid-19.
The major factors attributing to the growth of the market are the increasing number of surgical processes. According to a research article by Prashant Bhandarkar et al., published in the World Journal of September 2020, estimated that about 5,000 surgeries are required to meet the surgical burden of diseases of 100,000 people in low- and middle-income countries (LMICs). Additionally, the reported rates of surgery vary from 295 in low- and middle-income countries (LMICs) to 23,000 in high-income countries (HIC) per 100,000 population. Thus, incresing the number of surgical procedure in expected to boost the market.
Additonally, technological advancement in medical devices further growing demand for reliable and efficient technologies during surgeries, to decrease blood loss and infection rates and reduce operative time, is the major reason for the market growth. For Instance, in December 2020, Bolder Surgical, a provider of surgical devices and instruments, has introduced the CoolSeal Vessel Sealing platform, which performs minimally invasive surgery in pediatric patients safely and effectively. Moreover, rising investments in surgical instruments by hospitals and government initiatives are boosting the market studied.
However, the high cost of the instruments involved and the complications arising after using the devices are the major drawbacks of the market studied.
Key Market Trends
Laparoscopic Segment Accounted for Major Share on the Market
Laparoscopy is a surgical diagnostic method used to analyze the organs inside the abdomen. It is a minimally invasive procedure that requires only small incisions. It uses an instrument called a laparoscope, to look at the abdominal organs. Vessel sealing devices are the major part of the laparoscopic surgeries that are performed.
The major factors driving the growth of the segment are the increasing awareness of the advantages of laparoscopic surgeries over open surgeries and an increasing number of laparoscopic surgeries across the world.
However, many studies have been described the safety and efficiency of the vessels sealing devices in laparoscopic surgeries That will help in fueling the market over the projecting period. For instance, as per the study published in Surgical Innovation in June 2021, the title "Safety and Efficacy of Using Staplers and Vessel Sealing Devices for Laparoscopic Splenectomy: A Randomized Controlled Trial" study concluded that the vessel sealing devices have great safety and effectiveness over the endoscopic staplers. Thus the higher safety and effectiveness of the vessel sealing devices boost the market.
Laparoscopy is a minimally invasive surgical procedure that allows a surgeon to view the inside of the abdomen and pelvis through small incisions rather than large skin incisions. Because of their convenience, minimally invasive procedures are becoming increasingly popular. Because minimally invasive surgeries (MIS) cause less post-operative pain, patients are prescribed lower doses of pain relievers thereby driving the segment growth.
North America Dominates the Market and Expected to do the Same during the Forecast Period
North America is expected to dominate the overall vessel sealing devices market, throughout the forecast period. The largest share is mainly due to the presence of key players and an increase in per capita healthcare spending and expansion in the investment and product launches, made by the major market players in the region. For instance, In June 2021, Johnson and Johnson's Ethicon launched ENSEAL X1 Curved Jaw Tissue Sealer for use in colorectal, bariatric surgery, gynecological, and thoracic procedures.
Furthermore, there is a growing awareness among the population about the advantages of surgeries with such advanced technology. High adoption of surgical procedures with advanced energy in the United States, an increase in the number of approvals for new devices by the Food and Drug Administration, and a rise in the fraction of minimally invasive surgical procedures performed in the United States aid to North America’s high market share in the market studied. according to the article published in the JAMA Network in December 2021, by Aviva S. Mattingly, BA1, In the United States from January 1, 2019, to January 20, 2021, a total of 13 108 567 surgical procedures were performed. In 2019, there were 6 651 921 procedures, and in 2020, there will be 5 973 573 procedures. Thus, incresing number of surgeries in united states drive the demand for the vessel sealing devices thereby boost the market.
According to the American Cancer society, Cancer Treatment and Survivorship Facts and Figures 2019-2021, on January 1, 2019, an estimated 16.9 million people in the United States had a history of cancer and on January 1, 2030, the number of cancer survivors is expected to rise to more than 22.1 million, owing to population growth and ageing. This is intended to drive the market in North America.
Thus all all aforemention factor with incresing number of surgeries and technological advancement in the medical devices boost the market ij the region.
The vessel sealing devices market is moderately competitive, and it consists of several major players. Some of the market players are Medtronic PLC, B Braun Melsungen AG, Erbe Medical India Pvt. Ltd, Olympus Corporation, Ethicon US LLC (Johnson and Johnson), Boston Scientific Corporation, BOWA-electronic GmbH, and Co. KG, CONMED Corporation, and Bolder Surgical Holdings Inc.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Number of Surgical Procedures
4.2.2 Technological Advancements in Vessel Sealing Devices
4.3 Market Restraints
4.3.1 Complications of the Vessel Sealing Devices
4.3.2 High Cost of Surgeries
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
5.2 By Application
5.2.1 General Surgery
5.2.2 Laparoscopic Surgery
5.3 By End User
5.3.1 Hospitals and Specialty Clinics
5.3.2 Ambulatory Surgical Centers
5.4.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.4.5 South America
220.127.116.11 Rest of South America
6.1.1 Medtronic PLC
6.1.2 B Braun Melsungen AG
6.1.3 Erbe Medical India Pvt. Ltd
6.1.4 Olympus Corporation
6.1.5 Ethicon US LLC (Johnson & Johnson)
6.1.6 Boston Scientific Corporation
6.1.7 BOWA-electronic GmbH & Co. KG
6.1.8 OmniGuide Holdings Inc.
6.1.9 CONMED Corporation
6.1.10 Hologic (Bolder Surgical Holdings Inc.)
6.1.11 XCELLANCE Medical Technologies
6.1.12 LAMIDEY NOURY.FR.
A selection of companies mentioned in this report includes:
- Medtronic PLC
- B Braun Melsungen AG
- Erbe Medical India Pvt. Ltd
- Olympus Corporation
- Ethicon US LLC (Johnson & Johnson)
- Boston Scientific Corporation
- BOWA-electronic GmbH & Co. KG
- OmniGuide Holdings Inc.
- CONMED Corporation
- Hologic (Bolder Surgical Holdings Inc.)
- XCELLANCE Medical Technologies
- LAMIDEY NOURY.FR.