IndustryARC, in its latest report, predicts that the surgical clips market is expected to reach US$3.2 billion after growing at an estimated CAGR of 7.1% during 2022-2030. 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. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Key takeaways:
1. 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.
2. 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.
3. 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.
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Report Coverage |
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Report Attribute |
Details |
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By Product Type |
Ligating and Aneurysm Clips |
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By Ailment remedy |
Cancer Therapies, ERCP, LC and Vascular Reconstruction. |
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By Material |
Polymer, Metal, Metal Blends/Alloys, Cobalt-Chromium |
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By Surgical procedure |
Robotics and General/Manual. |
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By Geography |
North America, Europe, Asia-Pacific, South America, and Rest of World. |
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Segmental Analysis:
1. The Surgical Clips Market based on the Surgical procedure Type can be further segmented into Robotics, General/Manual. 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.
2. 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.
3. 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.
4. 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. North American segment is estimated to be the fastest-growing segment over the forecast period 2022-2027. Furthermore, the U.S spends close to 5% of the entire medical budget for the development pertaining to life and medical sciences.
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Competitive Landscape:
The top 5 players in the surgical clips industry are –
1. Johnson & Johnson
2. Ackermann Medical Gmbh & Co.
3. Grena Ltd.
4. Anrei and Sinolinks
5. 3M
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