Vessel Sealing Devices Market (By Application: General Surgery, Laparoscopic Surgery; By Product: Generators, Instruments, Accessories; By End-user: Hospitals & Specialty Clinics, Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Published Date : Aug 2021 | No. of Pages : 150+ Pages | Category : Healthcare

The global Vessel Sealing Devices market size is expected to be worth around US$ 10.4 billion by 2030, according to a new report by Vision Research Reports.

The global Vessel Sealing Devices market size was valued at US$ 2.3 billion in 2020 and is anticipated to grow at a CAGR of 10.1% during forecast period 2021 to 2030.

Growth Factors

The key factors driving the market growth include the rising number of surgeries across the globe, aging population, and technological advancements.

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.

Report Highlights

The laparoscopic surgery segment dominated the market for vessel sealing devices and accounted for the largest revenue share of 71.8% in 2020. The segment is also estimated to witness a CAGR of 10.8% in the coming years. The key factor contributing to this growth includes a growing preference for and rising number of minimally invasive surgeries and awareness of benefits of laparoscopic surgeries over open surgeries. According to a 2020 retrospective study performed by the Department of Surgery, Cleveland Medical Center, in the U.S. the number of open procedures performed by general surgery residents has been on the decline since 2000 with a growing preference for minimally invasive surgery. This trend is expected to continue fueling the demand for vessel dealing devices. 

The instruments segment dominated the market for vessel sealing devices and accounted for the largest revenue share of 53.1% in 2020. The segment is also expected to witness the fastest CAGR of 10.6% over the forecast period. The key factors contributing to this share include rising demand for reliable, affordable, and safe vessel sealing instruments, product developments, and the rising number of surgical procedures. There is also growing demand for reprocessed or reusable vessel sealing instruments due to their cost-efficacy and associated environmental benefits such as significant reduction in medical waste. KLS Martin Group, based in Germany, offers reusable vessel sealing instruments under the brand name- marSeal.

The hospitals and specialty clinics segment dominated the market for vessel sealing devices and held the largest revenue share of 67.4% in 2020. This is attributable to a higher volume of surgeries performed in hospital settings. Vessel sealing devices in particular reusable devices, also offer better efficacy and cost savings for the end-users. According to a study published in the Journal of Surgical Oncology, reusable vessel sealing devices used in modified total neck dissection procedures significantly reduced medical costs and provided similar clinical efficacy compared to disposable devices.

The Ambulatory Surgical Center (ASC) segment is anticipated to register the fastest CAGR of 11.9% over the forecast period due to the increasing number of ambulatory centers and related cost-effectiveness. According to the March 2021 data provided by the Centers for Medicare and Medicaid Services (CMS), there are about 187 Medicare-certified ASCs in Washington state, 817 in California, 442 in Texas, 457 in Florida, and 368 in Georgia. These numbers are expected to increase over the coming years.

North America dominated the vessel sealing devices market and accounted for the largest revenue share of 62.1% in 2020. The large share of the region is due to the presence of key players and technologically equipped hospitals in the U.S. and Canada. Europe held the second-largest revenue share of the market in 2020 due to an aging population and prevalence of chronic conditions resulting in the increasing number of surgeries. 

Report Coverage Details
Market Size US$ 10.4 billion by 2030
Growth Rate CAGR of 10.1% From 2021 to 2030
Base year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Application, product, End user
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Medtronic; Olympus Corporation; B. Braun Melsungen AG; Medical Devices Business Services, Inc. (Johnson & Johnson); Erbe Elektromedizin GmbH; Bowa Medical; OmniGuide Holdings, Inc.; Intuitive Surgical; Bolder Surgical LLC; KLS Martin Group

Key Players

  • Medtronic

  • Olympus Corporation

  • B. Braun Melsungen AG

  • Medical Devices Business Services, Inc. (Johnson & Johnson)

  • Erbe Elektromedizin GmbH

  • Bowa Medical

  • OmniGuide Holdings, Inc.

  • Intuitive Surgical

  • Bolder Surgical, LLC

  • KLS Martin Group 

Market Segmentation

  • Application Outlook 

    • General Surgery

    • Laparoscopic Surgery

  • Product Outlook

    • Generators

    • Instruments

    • Accessories

  • End-user Outlook 

    • Hospitals & Specialty Clinics

    • Ambulatory Surgical Centers

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • MEA

      • South Africa

      • Saudi Arabia

The Vessel Sealing Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Vessel Sealing Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Vessel Sealing Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Vessel Sealing Devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Vessel Sealing Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Vessel Sealing Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Vessel Sealing Devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Vessel Sealing Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Vessel Sealing Devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Vessel Sealing Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Vessel Sealing Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Vessel Sealing Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Vessel Sealing Devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Vessel Sealing Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Vessel Sealing Devices market. These factors have benefited the growth of the global market for Vessel Sealing Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Vessel Sealing Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Vessel Sealing Devices are as follows:

  • History Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:


- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

 


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