The Vessel-Sealing Devices Market share is estimated to reach US$ 1,645.90 million in 2023 and the market net worth is forecast to reach over US$ 3,896.44 million by 2033. The global vessel-sealing devices market is expected to register a CAGR of 9%.
It has been found that vessel-sealing devices are more effective in several fields, such as laparoscopic surgery, neck surgery, and axillary dissection. This is expected to drive the vessel-sealing market, which is expected to dominate the healthcare market in the coming years.
With the advancement of surgical devices and increasing FDA approvals for vessel-sealing devices, the market for vessel-sealing devices is expected to grow during the forecast period.
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With fewer blood loss complications and less operating time, surgeons have improved safety and efficiency. Technological advancements in surgical devices and FDA guidelines regarding vessel-sealing devices are likely to drive the growth of the market.
Surgical procedures, product developments, and minimally invasive surgery are a few of the main drivers of this market.
Key Takeaways:
- The vessel-sealing devices market is expected to increase at a notable CAGR of 9%
- North America is a prominent market for vessel-sealing devices and is estimated to expand at a CAGR of 4.5% in the forecast period.
- The United States is projected to account for 75%of the North American vessel-sealing devices market.
- Hospitals and specialty clinics are expected to account for a prominent share of the market and rise at a CAGR of 4.86%.
Competitive Landscape
Manufacturers of vessel-sealing devices implement a variety of strategies to meet the needs of domestic and international customers as part of their competitive strategy. To satisfy the needs of domestic and international customers, companies such as Medtronic PLC maintain a steady emphasis on research and development to minimize risk during operations. Furthermore, to gain an advantage over their competition, key players continue to develop products through acquisition, partnerships, and innovation.
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Key companies in the market include Medtronic PLC, B Braun Melsungen AG, and Erbe Medical India Pvt. Ltd, Olympus Corporation, Ethicon US LLC (Johnson & Johnson), Boston Scientific Corporation, BOWA-electronic GmbH & Co. KG, OmniGuide Holdings Inc., CONMED Corporation, Bolder Surgical Holdings Inc, and others.
Recent Developments
- Olympus Corporation, a Japan-based manufacturer, offers Thunderbeat instrument lineups for endoscopic and open surgery. The device uses ultrasonic energy for fast and precise dissection.
- In September 2022, Olympus expanded its global footprint with an investment of US$ 34 million in Coimbra, Portugal.
- Ethicon’s Enseal X1 Curved Jaw Tissue Sealer was released in June 2021. This product is used for gynecological, thoracic, bariatric, and colorectal procedures.
- Bolder Surgical, a developer and manufacturer of energy vessel sealing surgical devices, was acquired by Hologic Inc., a medical technology company, in October 2021 for US$ 160 million, to broaden their surgical portfolio.
Market Segments Covered in Vessel-Sealing Devices Market Analysis
By Application
- General Surgery
- Laparoscopic Surgery
By End User
- Hospitals & Specialty Clinics
- Ambulatory Surgical Centers
By Region
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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