Vessel Sealing Devices Market: Advent of New Technology to Drive Global Market
Vessel Sealing Devices Market: Introduction
According to the report, the global vessel sealing devices market was valued over US$ 4.21 Bn in 2020, and it is projected to expand at a CAGR of 5.2% from 2021 to 2031. Vessel sealing devices are used to seal the vessel wall by denaturing the collagen and elastin in the wall and completely occluding the blood vessel. Most common energy-based devices such as bipolar, ultrasonic, and hybrid are used in surgeries. Major factors expected to drive the global vessel sealing devices market during the forecast period include an increase in the global geriatric population, rise in the prevalence of accidental surgeries, and advancements in vessel sealing devices with minimal invasive surgeries.
North America held a major share of the global vessel sealing devices market in 2020, due to the presence of a large number of key players, rise in adoption of robotic-assisted vessel sealing devices, and increase in research funding for vessel sealing devices in the U.S. The vessel sealing devices market in Asia Pacific is estimated to expand at a high CAGR of 5.8% from 2021 to 2031, due to a surge in the number of geriatric patients and increase in the launch of new products by key players. This, in turn, is likely to drive the demand for vessel sealing devices in emerging markets such as India and China.
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Advent of New Technology to Drive Global Market
The rise in the need of surgeries such as gynecological, urological, cardiovascular, orthopedic, and general have fueled the demand for minimal invasive vessel sealing devices. The development of new software and advanced vessel sealing devices enables the surgeon to provide fast, accurate, smooth surgeries with enhanced efficiency and delivers seamless vessel sealing devices workflow. Hence, technological advancements is a significant driver of the vessel sealing devices market. New technologies enable the development of new vessel sealing devices of high quality as well as accuracy.
The harmonic scalpel device employs a high-frequency ultrasonic transducer to generate mechanical vibration. This device can be used to cut the tissue or achieve hemostasis by coagulation. Similar to other devices, protein is denatured and vessels are sealed by formation of a coagulum. Valleylab launched LigaSure V. LigaSure is a bipolar electrosurgical device designed to convey high current and very low voltage to tissue. Consequently, technological developments in vessel sealing devices are expected to drive the need for treatment among patients, which, in turn, is projected to boost the global vessel sealing devices market over the next few years.
Laparoscopic Surgery to Drive Vessel Sealing Devices Market
In terms of surgery, the global vessel sealing devices market can be classified into laparoscopic and open surgery. The laparoscopic segment dominated the global vessel sealing devices market in 2020, and the trend is projected to continue during the forecast period. The increase in the demand for laparoscopic surgery is expected to drive the segment in the near future.
Generators to Dominate Vessel Sealing Devices Market
In terms of product, the global vessel sealing devices market can be classified into generators, instruments, and accessories. The generators segment dominated the global vessel sealing devices market in 2020, and the trend is projected to continue during the forecast period. Increase in utilization of vessel sealing devices is anticipated to boost the segment in the near future.
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High Demand for Vessel Sealing Devices in General Surgery
In terms of application, the global vessel sealing devices market has been segmented into general, urological, vascular, gynecology, orthopedic surgery, and others. The general surgery segment accounted for the major market share in 2020. The segment is projected to register highest market attractiveness index by 2031. The surge in the demand for general surgery procedures, owing to the rise in surgeries of esophagus, stomach, small intestine, large intestine, liver, pancreas, gallbladder, appendix and bile ducts, and often the thyroid gland surgery is likely to propel the segment during the forecast period.
Bipolar to Lead Vessel Sealing Devices Market
In terms of energy, the global vessel sealing devices market has been categorized into bipolar, ultrasonic, hybrid, and others. The bipolar segment held a major share of the global vessel sealing devices market in 2020. Rise in the number of surgeries, increase in focus on advanced sealing devices, and surge in geriatric patient pool across the globe are projected to propel the bipolar segment.
Hospitals & Ambulatory Surgical Centers to be Promising End User
Based on end user, the global vessel sealing devices market has been categorized into hospital & ambulatory surgical centers, speciality clinics, and others. Increase in in-patient population and number of surgeries are estimated to propel the segment during the forecast period.
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North America to Dominate Global Market; Asia Pacific to Offer Significant Incremental Opportunities
In terms of region, the global vessel sealing devices market has been divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to account for a leading share of the global vessel sealing devices market during the forecast period, owing to the increase in the number of patients suffering from injuries and adoption of minimal invasive devices in hospitals in the region.
According to the American Cancer Society Inc (January 1, 2019), an estimated 517,350 men and women were living in the U.S. with a history of lung cancer. This is intended to drive the market in North America.
The increase in the number of approvals for new devices by FDA boosts the demand for vessel sealing devices. In December 2018, Intuitive Surgical Inc. launched the Surgical Vessel Sealer, which is specifically-designed for dissection of tissue, which received approval by US FDA. The vessel sealing devices market in Asia Pacific is projected to expand at a rapid pace over the next few years.
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Growth Strategies of Key Players
Key players operating in the global vessel sealing devices market are Medtronic, Olympus Corporation, OmniGuide Holdings, Inc., Bolder Surgical, LLC, B. Braun Melsungen AG, Medical Devices Business Services, Inc., KLS Martin Group, Erbe Elektromedizin GmbH, Boston Scientific Corporation, BOWA-electronic GmbH & Co. KG, CONMED Corporation, Symmetry Surgical, XCELLANCE Medical Technologies, and LAMIDEY NOURY.FR. These companies engage in research & development activities to develop novel products in order to expand product offerings and customer base.
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