October 21, 2020
The vessel sealing devices market studied was projected to grow with a CAGR of nearly 5.6% over the forecast period. The major factors attributing to the growth of the market are the increasing number of invasive surgical processes and technological advancement in medical devices.
Furthermore, the growing demand for reliable and efficient technologies during surgeries to decrease blood loss and infection rates and reduce operative time is the major reason for the market growth. Rising investments in the surgical instruments by the hospitals and government initiatives are boosting the market. However, the high cost of the instruments involved and the complications arising after using the devices are the major drawbacks of the market growth.
Key Market Trends
The laparoscopic segment accounted for major share of the market in the forecast period.
- Laparoscopy, is a surgical diagnostic method used to analyze the organs inside the abdomen. It’s a minimally invasive procedure that requires only small incisions. Laparoscopy uses an instrument called a laparoscope to look at the abdominal organs. Vessel sealing devices are the major part of the laparoscopic surgeries that are performed.
- The major factors driving the growth of the segment are the increasing awareness of the advantages of laparoscopic surgeries over the open surgeries and an increasing number of laparoscopic surgeries worldwide.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall vessel sealing devices market, throughout the forecast period. The largest share is mainly due to presence of key players and increase in per capita healthcare spending and expansion in the investment made by the major market players in the region. Furthermore, growing awareness among the population to the advantages of the surgeries with such advanced technology. High adoption of surgical procedures with advanced energy in the United States, increase in the number of approvals for new devices by the FDA, and rise in the fraction of minimally invasive surgical procedures performed in the United States subsidize to North America’s high market share in the market.
The vessel sealing devices market is moderately competitive and consists of several major players. Some of the market players are Medtronic, B. Braun Melsungen AG, Erbe Medical India Pvt Ltd, Olympus Corporation, Ethicon US, LLC (Johnson and Johnson), Boston Scientific Corporation, Symmetry Surgical, Inc., CONMED Corporation, and Bolder Surgical Holdings, Inc.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Surgical Procedures
4.2.2 Technological Advancements in Vessel Sealing Devices
4.3 Market Restraints
4.3.1 Complications of the Vessel Sealing Devices
4.3.2 High Cost of Surgeries
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product
5.2 By Application
5.2.1 General Surgery
5.2.2 Laparoscopic Surgery
5.3 By End User
5.3.2 Ambulatory Surgical Centers
5.3.3 Other End Users
5.4 By Geography
5.4.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
5.4.5 South America
184.108.40.206 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Medtronic PLC
6.1.2 B Braun Melsungen AG
6.1.3 Erbe Medical India Pvt. Ltd
6.1.4 Olympus Corporation
6.1.5 Ethicon US LLC (Johnson & Johnson)
6.1.6 Boston Scientific Corporation
6.1.7 Symmetry Surgical Inc.
6.1.8 OmniGuide Holdings Inc.
6.1.9 CONMED Corporation
6.1.10 Bolder Surgical Holdings Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS