Clip Applicator Market Expected To Witness A Substantial Growth Of $8.0 Billion By 2026: Grand View Research Inc. in Web marketing

  • Aug. 20, 2020, 12:20 a.m.
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The global clip applicator market size is expected to reach USD 8.0 billion by 2026 according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 7.0% during the forecast period. Rise in laparoscopic surgeries and high demand for minimally invasive procedures are projected to propel the growth.

With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.

The number of laparoscopic surgeries is increasing annually. As per the data published by June Medical, around 1.5 million laparoscopic surgeries are performed in U.K. every year. Growth in the number of laparoscopic surgeries is attributed to increasing acceptance and popularity among both doctors and patients. This factor is anticipated to augment the demand for clip applicator over the forecast period.

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Rising prevalence of gastrointestinal diseases and cancers among other diseases that require endoscopy procedures, is one of the factors boosting the market growth. In addition, prevalence of chronic diseases among baby boomers, awareness regarding novel devices as well as rising preference for minimally invasive surgeries is anticipated to support the market growth. Recent endoscopy techniques have revolutionized the examination and treatment of upper gastrointestinal tract including duodenum, stomach, and esophagus, and the colon.

Clip Applicator Market Report Highlights

Endoscopic appliers segment registered the highest market share in 2018 owing to availability of single and multi-firing clip device required for proper closure of incisions in Peroral Endoscopic Myotomy (POEM)
Laparoscopic appliers segment is anticipated to expand at the fastest CAGR over the forecast period owing to innovations in devices in terms of significant cost savings in laparoscopic procedure
North America accounted for a significant clip applicator market share in 2018, attributed to the increase in geriatric population, number of surgeries, high adoption rate of technologically advanced devices, and high awareness regarding the benefits of minimally invasive surgeries
Asia Pacific is anticipated to expand at the fastest CAGR over the forecast period supported by improving healthcare infrastructure and growing medical tourism due to affordability
Some of the players operating in the market includes B. Braun Melsungen, LUMED, Unimax Medical Systems, Betatech, Geyi Medical, Mediflex, Medscope, CONMED Corporation, Medtronic, J&J Medical Devices, Millennium Surgical Corp, and Teleflex Incorporated
Growing number of gynecology surgeries is also driving the clip applicator market. As per a study by the Japan Society of Obstetrics and Gynecology, the number of endoscopic surgeries increased from 56, 233 surgeries in 2014 to 80, 678 in 2016 nationwide.

For minimally invasive surgeries, a very small area of the internal body is exposed to the external environment which reduces the risk of infection as well as minimizes blood loss, promotes early recovery, and reduced hospital stay. These are some of the leading to increased preference for minimally invasive surgeries over open surgeries. This factor is anticipated to fuel the demand for clip appliers, thereby driving the market growth.

However, the minimally invasive application requires specialized high-end medical equipment and specialized training for surgeons. Also, the equipment used for minimally invasive applications is very expensive. These factors may hinder the market growth.

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Improvements to develop advanced technologies, for instance, the multi-firing-clip applicator (endoscopic application) for closing large colonic perforation, multiple clip application systems (ClipMaster3) that permit application of three clips in a single pass such that the system need not be removed out for reloading of clips, polymer ligating clip applicator to make sure that biocompatibility is increased along with the dimensional and structural stability which is important for patient safety, are anticipated to play a vital role in driving the growth.

Grand View Research has segmented the global clip applicator market report on the basis of application:

Clip Applicator Application Outlook (Revenue, USD Million, 2015 - 2026)
Laparoscopic Appliers
Endoscopic Appliers
Open Surgery Appliers
Vascular Appliers

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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