The Global Vessel Sealing Devices Industry is poised for substantial growth in the coming years, with estimates indicating a substantial increase from US$ 1.65 billion in 2023 to a staggering US$ 3.9 billion by 2033. A projected Compound Annual Growth Rate (CAGR) of 9% underpins this exponential growth.
Vessel-sealing devices have proven their effectiveness in a wide array of medical fields, including laparoscopic surgery, neck surgery, and axillary dissection. As these devices continue to outperform in various clinical applications, their influence is anticipated to steadily rise, positioning the vessel-sealing market as a dominant force in the healthcare industry.
The sector’s growth is further accelerated by the continuous evolution of surgical devices, coupled with increasing FDA approvals for vessel-sealing technologies. These developments are set to fuel market expansion throughout the forecast period.
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With fewer blood loss complications and less operating time, surgeons have improved safety and efficiency. Technological advancements in surgical devices and FDA guidelines regarding vessel-sealing devices are likely to drive the growth of the market.
Surgical procedures, product developments, and minimally invasive surgery are a few of the main drivers of this market.
Key Takeaways from the Global Vessel Sealing Devices Industry:
- The vessel-sealing devices market is expected to increase at a notable CAGR of 9%
- North America is a prominent market for vessel-sealing devices and is estimated to expand at a CAGR of 4.5% in the forecast period.
- The United States is projected to account for 75% of the North American vessel-sealing devices market.
- Hospitals and specialty clinics are expected to account for a prominent share of the market and rise at a CAGR of 4.86%.
Competitive Landscape
Manufacturers of vessel-sealing devices implement a variety of strategies to meet the needs of domestic and international customers as part of their competitive strategy. To satisfy the needs of domestic and international customers, companies such as Medtronic PLC maintain a steady emphasis on research and development to minimize risk during operations. Furthermore, to gain an advantage over their competition, key players continue to develop products through acquisition, partnerships, and innovation.
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Key companies in the market include
- Medtronic PLC,
- B Braun Melsungen AG, and
- Erbe Medical India Pvt. Ltd,
- Olympus Corporation,
- Ethicon US LLC (Johnson & Johnson),
- Boston Scientific Corporation,
- BOWA-electronic GmbH & Co. KG,
- OmniGuide Holdings Inc.,
- CONMED Corporation, Bolder Surgical Holdings Inc,
Recent Developments
- Olympus Corporation, a Japan-based manufacturer, offers Thunderbeat instrument lineups for endoscopic and open surgery. The device uses ultrasonic energy for fast and precise dissection.
- In September 2022, Olympus expanded its global footprint with an investment of US$ 34 million in Coimbra, Portugal.
- Ethicon’s Enseal X1 Curved Jaw Tissue Sealer was released in June 2021. This product is used for gynecological, thoracic, bariatric, and colorectal procedures.
- Hologic Inc., a medical technology company, acquired bolder Surgical, a developer and manufacturer of energy vessel sealing surgical devices, in October 2021 for US$ 160 million, to broaden their surgical portfolio.
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Market Segments Covered in the Global Vessel Sealing Devices Industry Analysis
By Application
- General Surgery
- Laparoscopic Surgery
By End User
- Hospitals & Specialty Clinics
- Ambulatory Surgical Centers
By Region
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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