Market Size of Global Surgical Clips Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 5.20 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Surgical Clips Market Analysis
The surgical clips market is expected to register a CAGR of 5.2% over the forecast period.
COVID-19 had a profound impact on the studied market owing to the cancellations of surgical procedures worldwide. For instance, according to a research article published in the JAMA Network, in December 2021, there were 458,469 surgical procedures performed during the first shutdown period in 2020 compared to 905,444 surgical during the equivalent period in pre-pandemic. All surgical specialists limited their surgical practices and prioritized the necessary surgeries. However, the market recovered in the later phase of the pandemic as the restrictions were lifted and surgical procedures gained pace. The market is expected to show stable growth over the next 4-5 years due to the rising surgical interventions.
In addition, the increase in the number of surgical procedures worldwide, the surge in the global geriatric population, and the surge in healthcare expenditure worldwide are actively affecting the growth of the studied market.
According to the Organization for Economic Co-operation and Development (OECD) data updated in August 2022, the number of surgeries, including cardiovascular surgeries performed in some European countries such as Portugal, Denmark, Ireland, and Norway in 2021 includes 94.87, 49.33, 32.84, 21.5 (in thousand). Such a huge number of surgeries in developed European countries will lead to increased adoption of the surgical clips market over the forecast period.
Also, the high incidence of surgical procedures is expected to propel the market growth. For instance, according to a study published in November 2021, laparoscopic cholecystectomy is the most common abdominal surgical treatment in the United States, with over 750,000 performed annually. Surgical clips are most commonly used as an alternative to suturing for ligation in patients undergoing several surgical procedures, especially cholecystectomies. Hence, the high burden of surgical procedures is expected to propel the market growth.
Moreover, the growing burden of cardiovascular diseases and other chronic conditions (where surgery is being suggested as mandatory) and the increasing elderly population is expected to drive the studied market's growth. For instance, according to the American Cancer Society Cancer Statistics 2022, 1,918,030 new cancer cases and 609,360 cancer deaths are predicted to occur in the United States in 2022. Also, according to the world population prospect 2022 report, the world's population is projected to reach 8 billion in 2022. The high burden of cancer and the rising geriatric population require surgical procedures for treating cancer and other chronic diseases, which is estimated to propel the utility of surgical clips, thereby augmenting the market growth.
Therefore, owing to the factors such as the rising prevalence of chronic diseases and the geriatric population, the studied market is anticipated to witness growth over the analysis period. However, the poor demand in underdeveloped countries and complications associated with surgical clips will likely impede the market growth.
Surgical Clips Industry Segmentation
As per the 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 (Ligating Clips, Aneurysm Clips, and Other Types), Material Type (Titanium, Polymer, and Other Material Types), Surgery Type (Automated Surgery Clips and Manual Surgery Clips), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Type | |
Ligating Clips | |
Aneurysm Clips | |
Other Types |
By Material Type | |
Titanium | |
Polymer | |
Other Material Types |
By Surgery Type | |
Automated Surgery Clips | |
Manual Surgery Clips |
Geography | ||||||||
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Global Surgical Clips Market Size Summary
The surgical clips market is poised for steady growth over the forecast period, driven by an increase in surgical interventions globally and a rising geriatric population. The market experienced a significant impact due to the COVID-19 pandemic, which led to the postponement of non-essential surgeries. However, as restrictions eased, the market began to recover, supported by the growing demand for surgical procedures. Factors such as the high incidence of chronic diseases, including cardiovascular conditions and cancer, which often require surgical intervention, are expected to further propel market growth. The use of surgical clips as a preferred alternative to suturing in various procedures, including laparoscopic cholecystectomies, is also contributing to the market's expansion.
North America is anticipated to hold a significant share of the surgical clips market, attributed to its advanced healthcare infrastructure, high healthcare expenditure, and a substantial concentration of market players. The region's growing awareness of available medical technologies and the increasing prevalence of chronic diseases among the elderly population are key drivers of market growth. The market is moderately competitive, with major players like Ackermann Medical GmbH & Co., B. Braun SE, and Boston Scientific Corporation leading the industry. Recent product approvals and innovations, such as the Ruyi Clip and Instinct Plus Endoscopic Clipping Device, are expected to enhance the market's growth trajectory. Despite challenges in underdeveloped regions and potential complications associated with surgical clips, the overall outlook for the market remains positive.
Global Surgical Clips Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increase in the Number of Surgical Procedures Worldwide
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1.2.2 Surge in the Global Geriatric Population
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1.2.3 Surge in Healthcare Expenditure Worldwide
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1.3 Market Restraints
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1.3.1 Poor Demand in the Underdeveloped Countries
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1.3.2 Complications Associated with Surgical Clips
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1.4 Porter Five Forces
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Type
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2.1.1 Ligating Clips
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2.1.2 Aneurysm Clips
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2.1.3 Other Types
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2.2 By Material Type
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2.2.1 Titanium
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2.2.2 Polymer
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2.2.3 Other Material Types
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2.3 By Surgery Type
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2.3.1 Automated Surgery Clips
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2.3.2 Manual Surgery Clips
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global Surgical Clips Market Size FAQs
What is the current Global Surgical Clips Market size?
The Global Surgical Clips Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Global Surgical Clips Market?
Ackermann Medical GmbH & Co, Boston Scientific Corporation, Edwards Lifesciences Corporation, B. Braun SE and Johnson & Johnson Services, Inc. are the major companies operating in the Global Surgical Clips Market.