Vessel Sealing Devices Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.35 Billion |
| Market Size (2029) | USD 7.48 Billion |
| CAGR (2024 - 2029) | 3.37 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Vessel Sealing Devices Market Analysis
The Vessel Sealing Devices Market size is estimated at USD 6.35 billion in 2024, and is expected to reach USD 7.48 billion by 2029, growing at a CAGR of 3.37% during the forecast period (2024-2029).
The market was impacted by the COVID-19 pandemic at a moderate growth rate. In the business world, the COVID-19 pandemic has created unprecedented economic uncertainty. While some businesses are relatively insulated due to low exposure, many others have been unable to avoid the pandemic's effects and are experiencing financial hardship. However, the number of surgeries declined during the pandemic, which hampered the market growth. According to a British Journal of Surgery report 2020, approximately 28 million surgeries have been canceled or postponed during COVID-19, substantially impacting the market.
The major factor driving the market is the increasing number of surgical processes. According to a research article by Prashant Bhandarkar et al., published in the World Journal of September 2020, estimated that about 5,000 surgeries are required to meet the surgical burden of diseases of 100,000 people in low- and middle-income countries (LMICs). Additionally, the reported rates of surgery vary from 295 in low- and middle-income countries (LMICs) to 23,000 in high-income countries (HIC) per 100,000 people. Thus, the increasing number of surgical procedures are expected to boost the market.
Additionally, technological advancements in medical devices are boosting the demand for reliable and efficient technologies during surgeries to decrease blood loss and infection rates and reduce operative time, which is the major reason for market growth. For instance, in December 2020, Bolder Surgical, a provider of surgical devices and instruments, introduced the CoolSeal Vessel Sealing platform, which performs minimally invasive surgery in pediatric patients safely and effectively. Rising investments in surgical instruments by hospitals and government initiatives are boosting the market.
However, the high cost of instruments involved and the complications arising after using the devices are the major drawbacks of the market.
Vessel Sealing Devices Market Trends
This section covers the major market trends shaping the Vessel Sealing Devices Market according to our research experts:
The Laparoscopic Segment Accounted for a Major Share of the Market
Laparoscopy is a surgical diagnostic method used to analyze the organs inside the abdomen. It is a minimally invasive procedure that requires only small incisions. It uses an instrument called a laparoscope to look at the abdominal organs. Vessel sealing devices are the major part of the laparoscopic surgeries performed.
The major factors driving the growth of the segment are the increasing awareness of the advantages of laparoscopic surgeries over open surgeries and an increasing number of laparoscopic surgeries across the world.
However, many studies have described the safety and efficiency of vessel sealing devices in laparoscopic surgeries That will help in fueling the market over the projecting period. For instance, as per the study published in Surgical Innovation in June 2021, the title "Safety and Efficacy of Using Staplers and Vessel Sealing Devices for Laparoscopic Splenectomy: A Randomized Controlled Trial", vessel sealing devices have great safety and effectiveness over endoscopic staplers. Thus, the higher safety and effectiveness of vessel sealing devices boost the market.
Laparoscopy is a minimally invasive surgical procedure that allows a surgeon to view the inside of the abdomen and pelvis through small incisions rather than large skin incisions. Because of their convenience, minimally invasive procedures are becoming increasingly popular. Because minimally invasive surgeries (MIS) cause less post-operative pain, patients are prescribed lower doses of pain relievers, thereby driving the segment growth.
North America Dominates the Market, and It is Expected to do the Same during 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 the presence of key players and an increase in per capita healthcare spending and expansion in the investment and product launches made by the major market players in the region. For instance, in June 2021, Johnson and Johnson's Ethicon launched ENSEAL X1 Curved Jaw Tissue Sealer for use in colorectal, bariatric surgery, gynecological, and thoracic procedures.
Furthermore, there is a growing awareness among the population about the advantages of surgeries with such advanced technology. High adoption of surgical procedures with advanced energy in the United States, an increase in the number of approvals for new devices by the Food and Drug Administration, and a rise in the fraction of minimally invasive surgical procedures performed in the United States aid North America's high market share. According to the article published in the JAMA Network in December 2021, by Aviva S. Mattingly, BA1, in the United States, from January 1, 2019, to January 20, 2021, a total of 13,108,567 surgical procedures were performed. In 2019, there were 6,651,921 procedures, and in 2020, there will be 5,973,573 procedures. Thus, the increasing number of surgeries in the country drives the demand for vessel sealing devices, thereby boosting the market.
According to the American Cancer Society, Cancer Treatment and Survivorship Facts and Figures 2019-2021, on January 1, 2019, an estimated 16.9 million people in the United States had a history of cancer, and on January 1, 2030, the number of cancer survivors is expected to rise to more than 22.1 million, owing to population growth and aging. This is intended to drive the market in North America.
Thus, the increasing number of surgeries and technological advancements in medical devices boost the market in the region.
Vessel Sealing Devices Industry Overview
The vessel sealing devices market is moderately competitive, and it consists of several major players. Some of the market players are Medtronic PLC, B Braun Melsungen AG, Erbe Medical India Pvt. Ltd, Olympus Corporation, Ethicon US LLC (Johnson and Johnson), Boston Scientific Corporation, BOWA-electronic GmbH and Co. KG, CONMED Corporation, and Bolder Surgical Holdings Inc.
Vessel Sealing Devices Market Leaders
-
Olympus Corporation
-
Medtronic PLC
-
B Braun Melsungen AG
-
Erbe Medical India Pvt. Ltd
-
Ethicon US LLC (Johnson & Johnson)
*Disclaimer: Major Players sorted in no particular order
Vessel Sealing Devices Market News
- In October 2021, Hologic Inc. had a USD 160 million deal to acquire Bolder Surgical, a developer and manufacturer of advanced energy vessel sealing surgical devices.
- In September 2021, Bolder Surgical launched its CoolSeal Vessel Sealing platform. CoolSeal has been in use since October 2020 in the United States, and with the new international regulatory approvals, the devices are available in over 20 countries around the world.
Vessel Sealing Devices Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Defination
- 1.2 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 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 (Market Size by Value - USD million)
-
5.1 Product
- 5.1.1 Generators
- 5.1.2 Instruments
- 5.1.3 Accessories
-
5.2 Application
- 5.2.1 General Surgery
- 5.2.2 Laparoscopic Surgery
-
5.3 End User
- 5.3.1 Hospitals and Specialty Clinics
- 5.3.2 Ambulatory Surgical Centers
-
5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle-East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle-East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 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 BOWA-electronic GmbH & Co. KG
- 6.1.8 OmniGuide Holdings Inc.
- 6.1.9 CONMED Corporation
- 6.1.10 Hologic (Bolder Surgical Holdings Inc.)
- 6.1.11 XCELLANCE Medical Technologies
- 6.1.12 LAMIDEY NOURY.FR.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityVessel Sealing Devices Industry Segmentation
As per the scope of the report, vessel sealing devices are used to seal blood vessels during open and laparoscopic surgeries. The vessel sealing devices market is segmented by product (generators, instruments, and accessories), application (general surgery and laparoscopic surgery), end user (hospitals and specialty clinics, and ambulatory surgical centers), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for all the above segments.
| Product | Generators | |
| Instruments | ||
| Accessories | ||
| Application | General Surgery | |
| Laparoscopic Surgery | ||
| End User | Hospitals and Specialty Clinics | |
| Ambulatory Surgical Centers | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle-East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Vessel Sealing Devices Market Research FAQs
How big is the Vessel Sealing Devices Market?
The Vessel Sealing Devices Market size is expected to reach USD 6.35 billion in 2024 and grow at a CAGR of 3.37% to reach USD 7.48 billion by 2029.
What is the current Vessel Sealing Devices Market size?
In 2024, the Vessel Sealing Devices Market size is expected to reach USD 6.35 billion.
Who are the key players in Vessel Sealing Devices Market?
Olympus Corporation, Medtronic PLC, B Braun Melsungen AG, Erbe Medical India Pvt. Ltd and Ethicon US LLC (Johnson & Johnson) are the major companies operating in the Vessel Sealing Devices Market.
Which is the fastest growing region in Vessel Sealing Devices Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Vessel Sealing Devices Market?
In 2024, the North America accounts for the largest market share in Vessel Sealing Devices Market.
What years does this Vessel Sealing Devices Market cover, and what was the market size in 2023?
In 2023, the Vessel Sealing Devices Market size was estimated at USD 6.14 billion. The report covers the Vessel Sealing Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vessel Sealing Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vessel Sealing Devices Industry Report
Statistics for the 2024 Vessel Sealing Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vessel Sealing Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
