Number of pages: 100 | Report Format: PDF | Published date: February 14, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
According to the deep-dive market assessment study by Growth Plus Reports, the global vessel sealing devices market was valued at US$ 1.2 billion in 2021 and is expected to register a revenue CAGR of 8.2% to reach US$ 2.43 billion by 2030.
Vessel sealing devices are used in minimally invasive surgical procedures to cut, coagulate, separate, and seal blood vessels. Different types of energy are often employed to seal vessels. Bipolar, ultrasonic, and hybrid energy sources are included. Active electrodes in the vessel closing devices circuit the AC current aimed at the target tissue. When selecting suitable vessel sealing devices, various criteria, such as dependability and efficiency, are considered. These devices are effective at sealing vessels with a diameter of up to 7 mm. The emergence of bipolar devices and ultrasound technologies in vascular sealing is expected to result in more uniform and stronger compression. This technique also allows for the monitoring of heat and energy distribution. These environments work together to provide stronger vessel seals. Moreover, a vessel sealing device helps in the sealing of blood vessel walls by denaturing the elastin and collagen in the wall using bipolar electrothermal radiation. This minimally invasive surgical instrument is used to cut, clot, separate, and seal blood arteries. The energy generator boosts the device’s sealing power and speed, reducing tissue injury. Electrothermal bipolar vessel sealing (EBVS) devices are among the most widely utilized blood vessel sealing technologies. These instruments are commonly used in laparoscopic and open surgical operations. Many blood artery-sealing technologies have evolved in the previous few decades, including LigaSure, PlasmaKinetic, Harmonic Scalpel, Ligamax 5, and EnSeal. Vessel sealing devices are highly efficient and safe to use, preventing blood loss during surgeries and allowing for speedier healing.
The growing geriatric population, which is more prone to chronic diseases, is one of the primary forces propelling the market. Many illnesses are treated with vascular sealing devices, including axillary dissection, chronic hepatitis, and colorectal cancer. Furthermore, the product’s widespread use in laparoscopic surgeries, which are less intrusive and result in less postoperative pain, is driving market revenue growth. Furthermore, the development of bipolar devices that aid in greater and more uniform compression, and ultrasound technology, which monitors heat and energy distribution, are boosting the market. Furthermore, the increased demand for safe and efficient surgical equipment to reduce infection rates and blood loss is driving up overall sales of vascular sealing devices, boosting market expansion. A number of other factors, such as the development of cutting-edge, high-quality vessel sealing devices, an increase in gynecological, urological, cardiovascular, and orthopedic operations, and a significant expansion of the medical sector, are expected to drive market revenue growth. Moreover, rising need for safe and efficient surgical equipment to lower infection rates and blood loss is fueling overall sales of vascular sealing devices, accelerating market revenue growth.
The global vessel sealing devices market has been analyzed from four perspectives: product type, application, end user, and region.
Vessel Sealing Devices Market by Product Type
Based on product type, the global vessel sealing devices market has been segmented into generators, accessories, and instruments.
The instruments segment is expected to dominate the market during the forecast period due to increased demand for dependable, economical, and safe vessel sealing equipment, product advancements, and the increase in the number of surgical procedures. Reprocessed or reused vessel sealing instruments are also in high demand due to their low cost and accompanying environmental benefits, such as a large reduction in medical waste. KLS Martin Group, headquartered in Germany, sells reusable vessel sealing tools under the brand name marSeal.
Vessel Sealing Devices Market by Application
Based on application, the global vessel sealing devices market has been segmented into laparoscopic surgery, general surgery, and other surgeries.
The laparoscopic surgery segment dominates the market. A growing preference for and increase in the number of minimally invasive surgeries, as well as awareness of the benefits of laparoscopic surgeries over open surgeries, are significant factors contributing to this trend. A favorable reimbursement status for laparoscopic operations in the U.S. is also likely to enhance the industry. Due to its benefits, awareness of these operations is growing, which is boosting market revenue growth. According to a 2020 retrospective study conducted by the Department of Surgery at Cleveland Medical Centre, the frequency of open procedures performed by general surgery residents in the U.S. has been on the decline since 2000, with an increasing preference for minimally invasive surgeries. This trend is projected to boost demand for vessel sealing technologies in the future.
Vessel Sealing Devices Market by End User
Based on end user, the global vessel sealing devices market has been segmented into hospitals and specialty clinics, ambulatory surgery centers, and others.
The hospitals and specialty clinics segment dominates the market. This is due to the increased volume of procedures performed in hospital settings. Vessel sealing devices, particularly reusable devices, also provide improved efficacy and cost savings to end users. Reusable vascular sealing devices used in modified total neck dissection procedures dramatically decrease medical expenditures while providing comparable clinical performance to disposable devices, according to a study published in the Journal of Surgical Oncology.
Vessel Sealing Devices Market by Region
Based on region, the global vessel sealing devices market has been segmented into North America, Europe, Asia Pacific, Rest of the World.
The market in North America accounts for the dominating revenue share. The region’s high share is attributed to the existence of key players and technologically advanced hospitals in the U.S. and Canada. Due to an aging population and the prevalence of chronic illnesses, which result in an increased number of surgeries, Europe accounted for the second-largest revenue share of the market in 2022. According to the Federal Statistical Office, 17.2 million procedures were carried out in Germany in 2019. Among them, the most prevalent were intestinal, spinal, endoscopic, and hip implant surgeries. These factors are expected to contribute to the region’s larger revenue share in the next few years. During the forecast period, Europe is expected to grow at a profitable revenue CAGR. Due to the rising frequency of various diseases, the increasing number of surgical procedures, the growing geriatric population in the country, and a substantial base of foreign enterprises working on developing goods in Germany, the vessel sealing devices market is expected to gain significant revenue growth in the next few years. Moreover, the country’s increasing use of vessel-sealing devices is being fueled by an increase in the number of organ transplants.
The Asia Pacific market for vessel sealing devices is expected to grow at the fastest revenue CAGR over the next several years. This is due to corporate investments in expanding their regional footprint and developing healthcare infrastructure. For instance, the All-India Institute of Medical Sciences (AIIMS) in Bhubaneswar, India, purchased Medtronic accessories and consumables for a cautery machine with vascular sealing in January 2020 from Sushruta Surgicals Pvt. Ltd., the company’s authorized representative in the nation. The items were meant to outfit the institute’s Department of Surgical Oncology.
The prominent players in the global vessel sealing devices market include:
North America is the key growth region in the global vessel sealing devices market.
The increasing number of surgical procedures and technological advancements in vessel sealing devices are the prime factors for the expansion of the market.
The vessel sealing devices market is expected to be valued at US$ 2.43 billion by 2030.
The global vessel sealing devices market is expected to register a revenue CAGR of 8.2% during the forecast period.
Medtronic Plc, Olympus Corporation, B. Braun Melsungen AG, CONMED Corporation, and Medical Devices Business Services, Inc. (Johnson & Johnson) are the top market players.
*Insights on financial performance are subject to the availability of information in the public domain