The increasing number of operative and minimally invasive procedures is driving the global vessel sealing market
At a compound annual growth rate of 5.90 %, the size of the worldwide Vessel Sealing Devices market is projected to reach USD 6166.10 Million in 2030.
Covid-19 Impact & Market Status
Due to travel prohibitions and business closures, the COVID-19 has had a negative impact on economies and businesses in a number of countries. The closure of various plants and factories has had a severe influence on global supply chains, negatively affecting manufacturing, delivery schedules, and product sales in the worldwide vessel sealing devices market. The vessel sealing devices market experienced a severe impact like most of the other markets and the rise of the market was hampered due to the reduced demand for vessel sealing devices during this period as everything came to a standstill.
Instruments Segment To Be In High Demand
The instruments segment currently earns the highest revenue share in the global vessel sealing devices market and is expected to continue in the same way during the analysis period due to the rising demand for reliable, economical, and safe vessel sealing equipment, product advancements, and the growing number of surgical procedures. Reprocessed or reused vessel sealing instruments are also in high demand due to their cost-effectiveness and accompanying environmental benefits, such as a large reduction in medical waste. Also, due to technological improvements such as integrated devices and diverse applications, the generators segment is expected to increase significantly.
Laparoscopic Surgeries Segment To Earn Highest Revenue
The laparoscopic surgeries segment currently earns the highest revenue share in the global vessel sealing devices market and is expected to continue in the same way during the analysis period due to the growing preference for and number of minimally invasive surgeries, as well as awareness of the advantages of laparoscopic surgeries over open surgeries. The surgeons are able to see the inside organs through small skin incisions.
Hospitals And Specialty Clinics Segment To Remain Atop
The hospitals and specialty clinics segment currently earns the highest revenue share in the global vessel sealing devices market and is expected to continue in the same way during the analysis period due to the increased number of procedures conducted in hospitals. End-users benefit from vessel sealing devices, particularly reusable devices, because they are more effective and cost less.
North America To Dominate The Global Vessel Sealing Devices Market
North America currently earns the highest revenue share in the global vessel sealing devices market and is predicted to continue in the same way during the analysis period due to the rising frequency of chronic medical disorders in the United States is encouraging market expansion, owing to poor dietary choices, a stronger demand for easy-to-eat snacking options, less outdoor activities, high amounts of stress and anxiety etc.
Asia Pacific is predicted to rise at the rapid pace during the analysis period due to the rising government initiatives, increased awareness among healthcare organisations about new tools and also due to corporate investments in expanding their regional footprint and developing healthcare infrastructure.
The rising burden of operative procedures increasing the need of devices that reduce operation time and intraoperative blood loss is driving the demand of vessel sealing devices furthering the development of global vessel sealing devices market.
Vessel sealing devices work by sealing the vessel walls together with heat or pressure, blocking blood flow through the vessel. Vessel sealing devices are used to avoid bleeding during surgery and can be used on both tiny and large vessels.
The global vessel sealing devices market is expected to rise at a rapid pace to about USD 2.5 billion by 2029 during the analysis period at a CAGR of 8.1 percent.
The global vessel sealing devices market is being driven by an increase in the number of invasive surgical operations due to increasing number of chronic diseases across the world and technical developments in medical devices. Also, the global vessel sealing devices market is growing because to an increased demand for dependable and effective solutions during surgeries to reduce blood loss, infection rates, and surgical time. This is due to the increased demand for vessel sealing technologies that are more consistent, useful, reliable, efficient, and safe. Minimally invasive operations are also becoming more popular due to the associated benefits of smaller incisions, decreased pain and scarring, and faster recovery times. Hospital investments in surgical instruments are increasing, as are government measures.
Vessel sealing devices are bipolar vessel devices used in human and veterinary sector to bring down the time required to surgeries and inter-operative blood loss. These devices showcase reliable performance during multiple activations and sterilization cycles. The vessel sealing devices have supraphysiologic burst pressures,
However, as these devices are made for single use, thus their application significantly increases its costs. The high cost of the instruments involved, as well as the issues that can arise after utilising the devices, are the global vessel sealing devices market’s biggest downsides. Furthermore, the most recent advancements in vessel sealing technology leading to development of advanced vessel sealing devices that reduction in surgical duration and fewer preoperative complications the demand for vessel sealing devices is increasing anticipated to be a growth opportunity to the global vessel sealing devices market.
The major players in global vessel sealing devices market are Bowa Medical, Olympus Corporation Medtronic PLC, Johnson & Johnson Services, Bolder Surgical Holdings, CONMED Corporation, Bostan Scientific Corporation, Ethicon US LLC, Erbe Medical India, B Braun Melsungen, and Medtornic among others.
Latest Innovations in the Global Vessel Sealing Devices Market: A Snapshot
- In May 2021, Olympus had acquired Medi-Tate, an Israeli medical device startup, in order to expand its global urology business. Olympus expanded its business line by providing in-office treatment for benign prostatic hyperplasia (BPH) and confirmed its position as a pioneer in the field of urological equipment with this purchase.
Vessel Sealing Devices Market Scope
|Revenue forecast in 2028
|USD 2.5 billion
|CAGR of 8.1% during 2021-2028
|Type, Application, End User, Regions
|North America, Europe, Asia Pacific, South America, Middle East and South Africa
|Key Players Profiled
|Bowa Medical, Olympus Corporation Medtronic PLC, Johnson & Johnson Services, Bolder Surgical Holdings, CONMED Corporation, Bostan Scientific Corporation.
Key Segments of the Global Vessel Sealing Devices Market
Type Overview, 2019-2029 (USD Billion)
Application Overview, 2019-2029 (USD Billion)
- General Surgery
- Laparoscopic Surgery
End User Overview, 2019-2029 (USD Billion)
- Hospitals and Specialty Clinics
- Ambulatory Surgical Centers
Regional Overview, 2019-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa