The global Surgical Clips Market size is expected to reach USD 2.3 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 26.7% from 2021 to 2028. An increasing number of surgical procedures, the growing geriatric population, ease of operations, cost efficiency, and rising adoption of minimally invasive surgeries are the factors expected to contribute to the market growth. The presence of a large number of players at the global and local levels and their growth strategies to enhance product portfolios are likely to boost the market growth.
The adoption of surgical clips not only in
laparoscopic procedures but also in open surgeries is expected to boost their
demand in the upcoming years. Minimized incision size during surgeries and
improved recovery time are the leading factors fueling the adoption of these
devices among surgeons. The rise in robotic surgery procedures due to their
high precision and surgical accuracy is also anticipated to play an important
role in the market growth.
The market witnessed a slight decline during the
COVID-19 pandemic due to canceling elective procedures. With the surgical
procedures resuming in most of the regions with strict guidelines and an
increasing number of vaccinated people, the market is likely to stabilize under
strict guidelines by early 2022.
Related Press Release@ Surgical Clips Market Report
Surgical Clips Market Report
Highlights
- By material, the titanium segment accounted for the largest revenue
share in 2020 due to its tensile strength, no deterioration property,
inexpensiveness, and compatibility with imaging modalities
- Based on surgery type, the general surgery segment held the largest
share in 2020
- In terms of end user, hospitals grabbed the largest share in 2020
owing to the rise in the number of cases and preventive surgeries
performed in this end-user setting
- Asia Pacific held the largest share in 2020 due to the rising
adoption of surgical clips over traditional ligation techniques and the
increased geriatric population
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