The COVID-19 pandemic resulted in several challenges
such as logistical bottlenecks, low demand, decreased sales and marketing
activities, and reduced sales. The key impact, however, was the cancellation or
postponement of elective surgeries during the pandemic. Most nations went under
lockdown with the implementation of movement restrictions while academic
societies and regulatory bodies recommended postponement of elective surgical
procedures. According to Harvard Business Review, around a 4.8% GDP decline in
the American economy, in the first quarter of 2020, could be attributed to
deferred healthcare services, in particular delayed elective procedures. The
resumption of elective surgeries is expected to lead to increased demand over
the coming years.
The number of surgeries performed is a key contributor
to the market growth. In the U.S. increasing prevalence of chronic diseases and
an aging population, are leading to increase in the number of surgical
procedures performed every year. According to the U.S. Census Bureau, an
estimated 75 million of the 328 million U.S. population, were aged 60 years and
older in 2019. This implies that a significant number of American citizens are
vulnerable to chronic and acute conditions, leading to an increased number of
surgeries.
According to Definitive Healthcare, LLC, as of 2019,
there were about 9,280 active ambulatory surgery centers in the U.S. This high
number also contributes to market growth. In addition, ASCs enable large
volumes of surgeries in a short period, which is expected to fuel the market
growth during the forecast period.
The adoption of automated and robotic systems in
surgery is another driver estimated to contribute to the market growth. In a
study conducted by the University of Michigan, School of Medicine, it was found
that from 2012 to 2018 the use of robotic technology in general surgery
increased from 1.8% to 15.1%. Market players are leveraging this trend to
introduce new products, expand their regional presence, and increase their
market share. Bolder Surgical, partnered with Intuitive Surgical to provide an
exclusive licensing agreement to its energy-based vessel sealing and tissue
stapling technologies for use in the latter’s robotic-assisted surgery
solutions. In May 2021, Bowa Medical opened a new office in Cairo to control
and support sales activities for Turkey, Iran, Pakistan, and the entire Middle
East region.
Related Press Release@ Vessel Sealing Devices Market Report
Vessel Sealing Devices Market
Report Highlights
- Rising prevalence of chronic diseases is increasing the number of
surgeries performed around the globe. This is one of the key contributing
factors towards market growth
- The application segment was dominated by laparoscopic surgery in
2020 owing to wider use of vessel sealing devices in these procedures,
while the general surgery segment held a significant share. In June 2021,
for instance, Johnson and Johnson’s Ethicon launched ENSEAL X1 Curved Jaw
Tissue Sealer for use in colorectal, bariatric surgery, gynecological, and
thoracic procedures
- The laparoscopic surgery segment, however, is also anticipated to
grow the fastest due to rise in technological advancements and minimally
invasive surgeries
- The instruments segment held the largest revenue share in 2020 and
is also expected to register the highest CAGR over the forecast period.
Easy availability of instruments is one of the primary factors driving
this segment
- The hospitals and specialty clinics segment held the largest
revenue share of 57.4% in 2020, as they are the primary point of care for
treatment. Furthermore, hospitals and specialty clinics are known to offer
superior care to their patients and treatment at these centers are
generally reimbursed, which drives adoption
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