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Surgical Clips Market Size, Industry Share and Forecast, 2032

Published on by randy

According to the report published by Zion Market Research, the global Surgical Clips Market size was valued at USD 670.81 Million in 2023 and is predicted to reach USD 12,980.65 Million by the end of 2032. The market is expected to grow with a CAGR of 38.98% during the forecast period. The report analyzes the global Surgical Clips Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Surgical Clips Market industry.

Global Surgical Clips Market: Overview

Surgical clips are the medical devices that assist in holding things, preventing blood loss from blood vessels during surgical operations, and vasectomy. These clips are sterile devices available in different sizes. Besides this, modified clips can do a radial bend on the lateral leg of the clip. However, these clips are used in a variety of medical applications. Approximately 30 to 40 clips are utilized in each surgical procedure. Modern ligating clips were developed by Edward Weck Inc., which was further modified by E.C Wood in the year 1967. Surgical clips are much lower in cost when compared to other surgical devices. Furthermore, these are handily preloaded ready to use disposable clip cartridges having watertight closure and inertness. These clips are made up of magnesium alloy. Also, the advancements in material science are likely to offer more enhanced microstructure, improve quality clips, and also improve the rate of degradation.

Global Surgical Clips Market: Growth Factors

The global surgical clips market is expected to grow exponentially during the forecast period with a CAGR of 26.5%. The rise in adoption of minimally invasive procedures for the post-surgical complication treatment meanwhile surgeries is inducing the higher demand for these clips. Furthermore, the usage of these clips in minimally invasive procedures reduced blood leakage while minimizing incisions. Some of the leading companies like Grena, Ltd., Boston Scientific, and B. Braun have innovated ligating clips to increase the accuracy and pace during the operations for the prevention of clip slippage from the adherence site. Major treatment options for neurological problems include surgical operations, and aneurysm clips have emerged as precise treatment options for a cranial aneurysm.

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In addition, the ongoing technological advancements have further paved the way for better treatment. Many cost-effective surgical clips are present in the market to help professionals. The growing sports injuries and road accidents are other significant factors contributing to the growth of the global surgical clips market. Cardiovascular disease, along with some other chronic conditions, has emerged as a major health issue globally. As per Globocan 2020, the cancer cases have touched 19,292,798. Such high incidences of cancer and chronic diseases thrive up the demand for surgical procedures, which in turn also aid the growth of the global market over the forecast period. The Covid-19 pandemic has significantly impacted the global surgical clips market as most of the non-urgent and elective surgeries were postponed. As a result, all the surgical departments globally struggled with a severe downward trend.

However, the post-pandemic landscape is witnessing major growth prospects thereby, the global surgical clips market is likely to again take an uptrend in the forthcoming years.

Global Surgical Clips Market: Segmentation

The global surgical clips market can be segmented into material, surgery, end-user, type, and region.

By material, the market can be segmented into polymer, titanium, and other material.

By surgery, the market can be segmented into manual and automated surgery clips.

By end-user, the market can be segmented into ambulatory surgical centers, hospitals, and clinics.

By type, the market can be segmented into the aneurysm, ligating, and other clips.

Global Surgical Clips Market: Regional analysis

Asia Pacific accounts for the largest share in the global surgical clips market due to the presence of the huge patient population along with the good volume of undergoing surgeries in the region. Also, the government is taking several initiatives to develop advanced healthcare infrastructure and boost medical tourism, thereby it is likely to positively impact the growth of the regional market.

North America is also likely to grow with a healthy CAGR of 28.3 % during the forecast period due to the growing number of preventive surgeries in the region, along with the presence of established healthcare infrastructure.