Surgical Clips Market Overview
Surgical Clips Market size is estimated to reach $7.1 billion by 2027, growing at a CAGR of 6.1% during the forecast period 2022-2027. Surgical Clips can be demarcated as compact and meager fasteners erected from a metal that is chemically inert in nature. They are used as staple pins but with a different goal of stopping the blood seepage in arteries or veins. Surgical clips are diverged into ligating clips, aneurysm clips, and laparoscopic clips. Metal clips are quite eminent as they are widely used during a medical procedure such as ERCP (=Endoscopic retrograde cholangiopancreatography) used to cure problems in the liver, pancreas, bile duct, and blue-chip surgery like LT (= laparoscopic cholecystectomy) for removing the gallbladder. Multiple studies and experiments have urged that the surgical clip reduces the rate of postoperative complications and also helps in minimizing the problems associated with diagnostic imaging. The convenience of surgical clips over suture, puffiness in a number of contemporary techniques such as state-of-the-art therapies like CABG, ICD, etc to cure several cardiovascular and neurological maladies are provoking the demand and driving the growth of the Surgical Clips Industry for the period 2022-2027.
Surgical Clips Market Segment Analysis-By Surgical procedure
The Surgical Clips Market based on the Surgical procedure Type can be further segmented into Robotics, General/Manual. The General/Manual segment held the largest share in 2021 owing to the factors such as an increase in surgeries such as artery bypass, Lumpectomy, laparoscopic cholecystectomy, Endoscopic retrograde cholangiopancreatography, Thrombectomy, and many more to deal with contemporary health problems that are pushing the demand for surgical clips usage in the medical field, across the board presence of general surgical methods as compare to robotics techniques, Dearth of digital proficiency and infrastructure in the field of robotics is another aspect thrusting the market.
However, the robotics segment is estimated to be the fastest-growing segment with a CAGR of 6.8% over the period 2022-2027. The growth is severely attributed to the rising influence of minimally invasive surgeries, and the use of robotic-assisted surgeries to make precise incisions. Moreover, the complexity of surgery can be bought down multiplicatively. For example, Da Vinci Surgical systems, a robotic medical intervention has been used for more than 7 million medical procedures.
Surgical Clips Market Segment Analysis-By Material
The Surgical Clips Market based on the material type can be further segmented into Polymer (=polyester), metal (=Titanium), metal blends/alloys {(=stainless steel, nitinol (NiTi), cobalt-chromium (CoCr)}. The Metal segment held the largest share in 2021 owing to the factors such as effectiveness in stapling and restricting the bleeding. When it comes to sturdiness titanium behaves like tungsten, and while comes to weight it acts like lithium. Titanium is paramagnetic, thereby allowing for safe MRI scans and CT procedures. 40.5 MRI Machines and 55.2 MRI Machines are available per million people in the countries of Japan and the US, which further propels the use of titanium surgical clips. Furthermore, it is inert in nature meaning it doesn’t react which is why it’s the most appropriate metal for medical use.
However, the Polymer segment is estimated to be the fastest-growing segment with a CAGR of 6.9% over the forecast period 2022-2027. The polymer has been of extreme use in terms of its chemical properties. Owing to the pandemic woes, the following array of polymers was highly used. Injection molding and other perishable hospital consumables saw revenue growth of 4.4 in the year 2020.
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Surgical Clips Market Segment Analysis-By Geography
The Surgical Clips based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. The Asia-Pacific held the largest share with 37.3% of the overall market in 2021. The growth in this segment is owing to the factors such as escalation in countless health problems and infectious maladies attributed to the gigantic population especially in two Countries India and China, and the presence of many densely populated cities such as Mumbai and Dhaka, improving healthcare infrastructure in developing countries like India, China, Indonesia, Bangladesh, and Vietnam ascribed to increasing wealth, beyond belief financing into research and development of new medical procedures and drugs.
However, the North American segment is estimated to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to better digital infrastructure ascribing to the presence of Tech and other prominent players like Apple, Microsoft, Neuralink, etc., breakthroughs in advanced technologies, enlargement in the aged/elderly population. Furthermore, the U.S spends close to 5% of the entire medical budget for the development pertaining to life and medical sciences.
Surgical Clips Market Drivers
Intensification in elderly population and health maladies Boost Product Demand
Following COVID-19 there has been a surge in the incidence of innumerable transmittable and atypical ailments leading to serious health hitches. On top of that, the world population is expanding. The total population of the world is approximately 8 billion people as of now and out of these 8 billion around 7oo million is the number of people aging above 65 and the number is anticipated to expand up to 1-2 billion in the coming future. With age immunity starts dwindling and the body allure profusion of maladies. Therefore, the demand for assistance of surgical clips is swelling in various t therapies like Lumpectomy, Thrombectomy, and many more.
Technological Advancements are Projected to Drive Market Growth
With every second ticking by and moment passing by, the humanity is getting one step ahead than it was in past towards new miracles and breakthroughs ascribing to hard work, indomitable and tenacious will of scientists and researchers across the globe. Researchers are working round the clock and everyone is enjoying the fruits of their due diligent and honest efforts. As per the study conducted in 2018, of 169 404 patients in 73 hospitals, the use of robotic surgery for all general surgery procedures increased from 1.8% to 15.1% from 2012 to 2018. The surgical clips market is expected to witness a boost as the use of artificial intelligence is expanding, the concepts of robotics surgeries are becoming more prominent and gaining more legitimacy.
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Surgical Clips Market Challenges
Slithering of pins and allergic reaction is Anticipated to Hamper Market Growth
Surgical Clips are emerging as a strong contender of suture material as these clips extend a variety of benefits while stitching the opening. These clips can be effortlessly used in parts having little to no surface area. But there is a well-known saying which goes, “Every coin has two sides” surgical clips have also few cons associated with their usage such as slithering of pins after some time, blocking X-rays, other health issues like soreness, swelling, etc. in a few cases which might strangle the steady growth of the respective market.
Surgical Clips Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Surgical Clips Market. Surgical Clips top 10 companies include:
Johnson & Johnson
Ackermann Medical Gmbh & Co.
Grena Ltd.
Anrei and Sinolinks
3M
Teleflex Incorporated.
Boston Scientific
MERIL LIFESCIENCES pvt ltd
Edwards Lifesciences
Scanlan International Inc.
Johnson & Johnson
Recent Developments:
In November 2020, Taiwan based surgical corporation launched InnoClip TM 5mm multi-fire titanium clip applier which is supposed to facilitate the outcome of minimally invasive surgeries. The product is said to reduce the risk of infection and scarring but demonstrates adequate clip retention force which secures the litigation performance with vessels and structures up to 6-7mm. The device is featured with automatic clip feeding to reduce procedure time, an anti-back mechanism to enhance in-jaw security, and an ergonomic design for one-finger rotation.
In November 2020, Meril Endo-Surgery limited obtained FDA approval for its Mirus Litigating Clip. It is intended to be used for open general surgery procedures, specifically tubular structures or vessels wherever a metal ligating clip is indicated. Mirus™ Ligating clips are sterile, single-use, the implantable device made of implant-grade titanium (ISO 5832-2 / ASTM F 67). The clips are available in various sizes with 6 clips packed in a single plastic cartridge.
In September 2019, the Class-II device recalled was seen in DS Titanium Litigation Clip. The reason for which the manufacturer ordered a recall is, “Added a contraindication to IFU: Do not use the DS clips for living donor nephrectomies. Added other contraindications. A publication from 2017 recommended Aesculap DS Clips for kidney transplantation with living donors. The information from this publication was not approved or validated by the firm.”
Key Takeaways
Geographically, the Asia-Pacific Surgical Clips Market accounted for the highest revenue share in 2021. However, North America is poised to dominate the market over the period 2022-2027 owing to the hasty intensification in Elongated maladies such as cancer, heart sicknesses, etc. due to expanding old age population.
The ascension in numerous contemporary therapies for curing fatal diseases is driving the Surgical Clips Market. However, slithering of pins and allergic reactions are some of the major factors that are said to reduce the growth of the Surgical Clips Market.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Surgical Clips Market report
Relevant Links:
Surgical Sutures Market
https://www.industryarc.com/Report/16280/surgical-sutures-market.html
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