The global surgical clips market, valued at USD 632.5 million in 2023, is set to experience rapid growth, with projections estimating the market will reach USD 12.9 billion by the end of 2033. This growth represents an impressive compound annual growth rate (CAGR) of 35.5% from 2023 to 2033, according to a recently published report by Future Market Insights.
The increasing demand for minimally invasive procedures, rising healthcare expenditures, and technological advancements in surgical devices are driving the market’s rapid expansion. Surgical clips, which are essential for a variety of procedures, offer advantages such as reduced risk of infection and quicker recovery times, contributing to their widespread adoption across hospitals and healthcare facilities.
In particular, the market for titanium-based surgical clips is expected to witness exceptional growth, with a CAGR of 36.5% from 2023 to 2033. Titanium’s biocompatibility, strength, and lightweight properties make it the material of choice for many medical applications, including surgical procedures, driving demand for titanium-based clips.
“The surgical clips market is positioned for strong growth as healthcare providers increasingly embrace advanced materials and technologies for enhanced patient outcomes,” said a representative from Future Market Insights. “As the demand for minimally invasive surgeries grows, surgical clips will play a crucial role in streamlining procedures and improving recovery times.”
This growth trajectory highlights the continued innovation within the medical device industry and underscores the pivotal role surgical clips will play in shaping the future of healthcare.
Key Takeaways:
- The global surgical clips market was valued at USD 632.5 million in 2023 and is projected to grow rapidly, reaching USD 12.9 billion by 2033, representing a remarkable compound annual growth rate (CAGR) of 35.5% from 2023 to 2033.
- North America is expected to lead the market during the forecast period, driven by factors such as a high number of accidents and trauma cases, a robust healthcare infrastructure, and the presence of major industry players.
- In the United States, the rising number of surgeries, with nearly 27 million procedures conducted annually, and an increase in disposable income are expected to fuel market growth.
- The surgical clips market in China is anticipated to expand significantly, with a projected market value of USD 1.5 billion by 2033. Contributing factors include a large patient population, growing awareness, and the demand for minimally invasive surgeries, supported by enhanced healthcare infrastructure.
- China is poised for an absolute dollar growth of USD 1.4 billion from 2023 to 2033, offering substantial opportunities for market players.
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Competitive Landscape:
The key players operating in the surgical clips market are Ackermann Medical GmbH & Co, Grena Ltd, B. Braun Melsungen AG, Edwards Lifesciences Corporation, and Boston Scientific Corporation.
- In November 2020, a Taiwanese surgical business introduced the InnoClip 5mm multi-fire titanium clip applier. It is designed to improve the outcome of minimally invasive procedures.
- It is expected to lessen the danger of scarring and infection, however, it still has enough clip retention force to secure litigation performance with vessels and structures up to 6-7mm in diameter. Automatic clip feeding, an anti-back mechanism, and an ergonomic design for one-finger rotation are all included in the gadget.
- In November 2020, Meril Endo-Surgery Limited’s Mirus Litigating Clip received FDA approval. It is designed for open general surgery procedures that require a metal ligating clip, such as tubular structures or vessels. MirusTM Ligating Clips are single-use, sterile, implanted titanium clips. The clips come in a variety of sizes, and each plastic cartridge contains six clips.
Market Segments Covered in Surgical Clips Market Analysis:
By Type:
- Ligating
- Aneurysm
By Material Type:
- Titanium
- Polymer
- Other Material Types
By Surgery Type:
- Automated/ Robotic Assisted Surgery
- General Surgery
By End-User:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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