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

Market Overview

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.

Scope of the Report

Surgical clips are sterile medical devices offered in different sizes. Apart from a central bend, modified clips have a radial bend on each lateral leg of the clip. Clips have a variety of medical applications. Some of the common applications of clips include vasectomy or preventing blood loss from blood vessels during surgery. The surgical clips market is segmented by type, material type, surgery type, and geography. By type, the market is segmented into ligating clips, aneurysm clips, and other types. By material type, the market is segmented into titanium, polymer, and other material types. By surgery type, the market is segmented into automated surgery clips and manual surgery clips. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle-East and Africa, and South America. The report offers the value (in USD million) for the above segments.

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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.

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