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The surgical clips market will register a CAGR of over 5% by 2023

NEW YORK, June 18, 2019 /PRNewswire/ --

About this market

The increasing number of surgical cases drive the demand for surgical clips in the market. For various conditions like cancer and cardiovascular diseases; gynecology-related surgeries such as obstructed labor, hysterectomy, and prostatectomy, and general surgeries such as cholecystectomy, different surgical equipment, including surgical clips and appliers, are used. Surgical clips do not enter the blood vessels, unlike surgical staples. Hence, they are widely used for neurological, general, and orthopedic surgeries. Our analysts have predicted that the surgical clips market will register a CAGR of over 5% by 2023.

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Market Overview

Business strategies of manufacturers to expand their business

The vendors in this market are focusing on growing their business, strengthening their market position, and increasing their sales by adopting business strategies such as M&A, partnerships, and funding. Also, vendors are consolidating their supply chain network with distributors to expand their global presence. Increased use of surgical clips in numerous surgical procedures has led the leading vendors in this market to improve their products and expand their presence globally continually.

Risks and complications associated with surgical clips

Surgical clips are associated with some rare risks and complications such as migration of clips from one place to another, which can be harmful to the patient. The reason behind clip migration can be pressure exerted from intra-abdominal organ movements. Also, the use of surgical clips can lead to complications during diagnostic imaging procedures such as X-ray, computed tomography (CT) scan, and magnetic resonance imaging (MRI). The risk and complications associated with surgical clips devices hinder their use and pose a potential threat to the market growth.

For the detailed list of factors that will drive and challenge the growth of the surgical clips market during 2019-2023, view our report.

Competitive Landscape

The market appears to be moderately fragmented. The presence of several companies including B. Braun Melsungen AG and Boston Scientific Corp. makes the competitive environment quite intense. Factors such as the increasing number of surgical procedures and the increase in the number of product launches will provide significant growth opportunities to the surgical clip's manufacturers. Edwards Lifesciences Corp., Johnson & Johnson Services Inc., and Teleflex Inc. are some of the major companies covered in this report.

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