Global Surgical Clips Market by Material (Polymer, Titanium), by Type (Aneurysm, Ligating) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global surgical clips market was valued at USD 367.5 Million in 2020. It is expected to grow at a compound annual rate (CAGR of 26.7%) between 2021 and 2028. Market growth is being driven by the increasing use of minimally invasive surgical techniques, which are able to speed up recovery times, reduce hospital stays, minimize post-surgery complications, as well as the ease of care for elderly patients. In minimally invasive surgery, ligating clips have been shown to reduce incisions and prevent blood and bile leakage. B. Braun, Boston Scientific, Grena, Ltd. and Grena, Ltd. developed ligating clip technology to speed up and accurately place surgical instruments during operations. They also prevent clips from slipping at the point of attachment. Aneurysm clips are a key tool in the treatment of cranial aneurysms. They can be used as a part of surgical procedures, which is one of the most common treatment options for neurological disorders. The market has grown due to technological advancements and the affordability of surgical clips.

The market has been negatively affected by COVID-19. Due to the reduction in elective surgery and decreased surgeon capability to perform them, this has had a negative impact on the market. These surgeries can spread COVID-19 infections to the operating rooms, posing a risk to patients and surgeons. The pandemic was also marked by the inability to find surgical staff and patients' willingness to have surgeries. The shortage of surgical instruments also slowed market growth as manufacturing facilities were closed. The pandemic will be reduced if there are specific guidelines for each specialty that provide safe and effective surgical care.

Market growth will also be affected by the impact of COVID-19's raw material sector. The strict regulations regarding the production, disposal, and use of polymer-based medical products may also hinder new market players. It is expected that the current slowdown in raw materials supply will increase the replacement rate for other materials such as Stainless Steel and alloys by advanced polymer products.

Material Insights

In 2020, titanium surgical clips accounted for 82.6% of the total revenue. Titanium surgical clips have many advantages, including durability, lightness, non-reactivity and high tensile strengths. Its remarkable compatibility with imaging modalities such as CT, Xrays and MRI makes it an excellent choice for surgical equipment. This allows for segment growth.

A polymer is a great material for surgical clips because it resists axial pull, radiolucency, and inertness. The polymer's non-conductive properties resist thermal spread, preventing tissue necrosis and saving nearby organs. Hem-o–lok is a non-absorbable, polymer clip that is commonly used. It has a higher tissue holding power and better resistance to arterial pressure (up 800 mmHg), than titanium clips. It has many additional advantages over metal clips, including excellent tactile feedback and no spillage. Many market players have developed absorbable polymers that can be used to reduce the need for surgical clips after recovery. Advanced surgical clips are being introduced to the market and will replace other materials such as tantalum, stainless, and alloys.

Surgery Type Insights

In 2020, general surgery accounted for 87.5% of the total. Surgery clips are needed for general surgery, including vascular, urologic and gynecological procedures. Surgical clips have many advantages over sutures, including a lower infection rate, quicker healing times, reduced scar visibility and patient satisfaction.

The automated/robotic-assisted surgery segment is still in the initial growth phase. Its market share is limited due to a lack of infrastructure, financial aid, skilled personnel, and insufficient evidence regarding automated surgery. This surgery is now more popular in economically developed countries due to its lower human error rate and better efficiency.

End-user insights

Due to its large volume of procedures and preventive surgeries, the hospitals segment accounted for 78.8% of the total market share in 2020. In developed countries, insurance agencies will reimburse medical bills that contain ligature expenses. This is due to an increase in surgical procedures such as abdominal laparoscopy and neurosurgery, as well the rising incidence of trauma. This resulted in a rise in the number of surgical procedures that were performed at hospitals using clipping equipment, which has positively impacted segment growth.

Ambulatory Surgical Centers are expected to experience the highest growth rate at 28.6% over the forecast period. This is due to lower out-of pocket costs, improved patient access, and reduced facility costs. While most countries in Asia and the Middle East lack the infrastructure and economy to establish ambulatory centers to reduce the burden on hospitals, they are working hard to do so.

Type Insights

In 2020, ligating clips accounted for 78.2% of the total revenue. Ligating clips offer many benefits, including structural and dimensional stability, compatibility to open and endoscopic clip applicers, tactile feedback that allows surgeons to ensure precise locking, biocompatibility and the ability to prevent biofluid leaching (such as blood and bile) after surgery. They are a popular choice for surgicalligature. Hem-o-lok, and Hemoclip are the most popular ligating clips. You can find them in a variety of sizes, from small microchips to large clips, depending on how big your ligature is.

Dissolvable surgical clips are being developed to stop the clip from moving away from the area of application and prevent it from being removed after recovery. The market for aneurysm clips is expected to grow in the future. The market has seen positive growth due to increased use of the aneurysm-clipping technique.

Regional Insights

Asia Pacific accounted for 27.8% of the global market share in 2020. It is expected to experience the fastest growth during the forecast period. Regional market growth is fueled by a high patient population and large number of surgeries. The region's growing healthcare infrastructure and medical tourism market are attracting international market players. Local market players can enter the market by offering competitive products and pricing due to the absence of reimbursement policies.

North America will grow at a rate of 28.4% over the forecast period. This is due to factors like the growing number of preventive surgery, the adoption of technologically advanced devices and the growing preference for minimally invasive procedures. The United States is home to the majority of market players, making it the center of the market.

The forecast period for Europe is expected to see a lot of growth. This growth can be attributed in part to the increasing prevalence of chronic diseases, high adoption and use of advanced technologies, large geriatric populations, rising reimbursements for surgical procedures and growing demand for minimally invasive techniques over traditional ones.

Market Share Insights & Key Companies

Due to the existence of local sellers and manufacturers in many regions, the market is fragmented. These clips are available in a variety of sizes and styles from major players, and they are only sold for certain applications. Customers consider affordability and strong marketing to be key factors in determining their purchasing decisions. Major players such as Teleflex, Boston Scientific and Ackermann Medical have formed strategic alliances with local suppliers to help them cope with increasing competition in the market. The following are some of the most prominent players in global surgical clips market:

• Ackermann Medical GmbH & Co.

• B. Braun Melsungen AG

• Boston Scientific Corporation

• Edwards Lifesciences Corporation

• Grena Ltd.

• Johnson & Johnson (Ethicon).

• Scanlan International, Inc.

• Teleflex Incorporated.

• MERIL LIFESCIENCES Ltd. Ltd.

• Anrei and Sinolinks

Up Market Research published a new report titled “Surgical Clips Market research report which is segmented by Material (Polymer, Titanium), by Type (Aneurysm, Ligating), By Players/Companies Grena Ltd, B Braun Melsungen AG, Edwards Lifesciences Corporation, Teleflex Incorporated, Ackermann Medical GmbH & Co, Boston Scientific Corporation, Anrei and Sinolinks, Scanlan International Inc, Johnson & Johnson (Ethicon), MERIL LIFESCIENCES Pvt Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Surgical Clips Market Report Segments:

The market is segmented by Material (Polymer, Titanium), by Type (Aneurysm, Ligating).

Surgical Clips Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Surgical Clips Market

Overview of the regional outlook of the Surgical Clips Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Surgical Clips Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Surgical Clips Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Polymer

                2. Titanium

                1. Aneurysm

                2. Ligating

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Surgical Clips Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Surgical Clips Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.