According to a recent analysis by MWR, Inc., the market for vessel sealing devices worldwide is predicted to reach USD 2.31 billion by 2025. The primary reason fueling market expansion is the rise in surgical procedures. Additionally, it is projected that the ageing population and the related chronic disorders will support market expansion. It is also anticipated that the incidence of diabetes and obesity will increase demand for vessel sealing devices. Another important aspect fueling market expansion is the rise in minimally invasive procedures. Numerous surgical procedures, including general surgery, urology, gynaecology, and cardiothoracic surgery, require vascular sealing devices.
|Vessel Sealing Devices Market Report Scope and Segmentation|
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
The forecast period is expected to have the highest growth rate in the North American region. The main drivers of market expansion in this region are the rising frequency of chronic diseases, the rising number of surgical procedures, and the rising number of minimally invasive treatments. During the projected period, the Asia-Pacific region is anticipated to experience the second-highest growth rate. The two main drivers of this region’s market growth are the expansion of hospitals and the rise in surgical operations. A medical device known as a vessel sealing device uses energy to form a seal between tissue and vessel walls.
Blood vessels and other tissues are frequently sealed during laparoscopic surgery using vessel sealing devices. Radiofrequency, ultrasonic, and laser vessel sealing devices are just a few of the different kinds of vessel sealing equipment that are offered on the market.
Surgical procedures involving laparoscopic surgery, general surgery, urology, and gynaecology all make use of vessel sealing devices. A laparoscope, a long, thin tube containing a light and camera, is placed into one of the small incisions made in the belly during laparoscopic surgery, which is a minimally invasive surgical procedure. The surgeon can watch the interior organs on a display thanks to the camera.
General surgery is a branch of surgery that specialises in identifying and treating diseases that affect the human body. Abdominal surgeons and general surgical oncologists are other names for general surgeons.
The diagnosis and treatment of diseases of the male reproductive system, urinary tract, and urological malignancies are the focus of the medical specialty of urology. The diagnosis and treatment of diseases of the female reproductive system are the focus of the medical specialty of gynaecology.
The use of vessel sealing devices has a number of advantages, including a decrease in the amount of time needed for surgery, the amount of blood lost, and the danger of infection. Additionally, vessels of various sizes can be sealed using vessel sealing equipment.
From 2019 to 2025, the market for vessel sealing devices is anticipated to expand at a CAGR of 6.5%. The rise in laparoscopic procedures, the inclination toward less invasive procedures, and the incidence of urological malignancies are the main reasons propelling the market for vascular sealing devices.
However, it is anticipated that the expensive price of vessel sealing devices and the scarcity of qualified surgeons will limit market expansion.
Opportunities in the Vessel Sealing Devices Market
The market for vessel sealing devices is anticipated to expand at a CAGR of roughly 7.5% from 2020 to 2025.
The market for vessel sealing devices is being driven primarily by factors such as the rise in surgical training programmes, the trend for minimally invasive surgeries, and the number of vessel sealing procedures. Additionally, the market expansion is anticipated to be boosted by the introduction of new and sophisticated products as well as the growing number of R&D activities.
However, some of the key challenges impeding the growth of the vessel sealing devices market are the high price of vessel sealing devices and the scarcity of qualified surgeons.
The market for vessel sealing devices is divided into segments based on product, process, application, and geography. Bipolar vessel sealing devices, monopolar vessel sealing devices, and ultrasonic vessel sealing devices are the three product categories under which the vessel sealing devices market is divided.
The abdominal vessel sealing procedure, the cardiovascular vessel sealing procedure, and the gynaecological vessel sealing procedure are the three procedure categories under which the vessel sealing devices market is divided. The open vessel sealing procedure and laparoscopic vessel sealing procedure segments make up the vessel sealing equipment market.
Geographically speaking, there are five regions that make up the vessel sealing devices market: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Devices for Vessel Sealing: Market Restrictions
Due to the increasing prevalence of chronic diseases and the rising elderly population, the market for vessel sealing devices is expanding significantly on a global scale. However, the market is constrained by the expensive price of these gadgets and the fact that they are not reimbursed in many countries.
One of the biggest barriers to the market’s expansion is the absence of reimbursement for vessel sealing devices. There are some nations where these gadgets are not eligible for reimbursement. This is a result of patients and healthcare professionals being unaware of these gadgets. The market for vessel sealing devices is also significantly constrained by the high cost of these products.
Key Trends in the Vessel Sealing Devices Market
According to a recent analysis by MWR, Inc., the market for vessel sealing devices worldwide is anticipated to reach USD 1.9 billion by 2025. Throughout the forecast period, the market is anticipated to see a CAGR of 5.6%. The rising popularity of minimally invasive procedures is anticipated to be a major market growth driver.
Additionally, the increase in surgical treatments, including hysterectomies and hernia repairs, is anticipated to support market expansion. Given that the senior population is more prone to chronic illnesses, including cancer and cardiovascular disorders, it is also anticipated that this demographic would increase demand for vessel sealing devices.
With numerous big and small players, the industry is quite competitive. Ethicon, Inc., Covidien plc, Olympus Corporation, and Applied Energy Technologies, Inc. are important market participants. To obtain a competitive edge in the industry, these players are concentrating on new product releases and product innovation.
The market for vessel sealing devices is divided into regional, product, and geographic segments.
The market is divided into bipolar vessel sealing devices and monopolar vessel sealing devices based on the kind of product. During the forecast period, the segment for bipolar vessel sealing devices is anticipated to increase at the greatest CAGR.
Due to their advantages, including hemostasis, little tissue injury, and shorter operating times, bipolar vascular sealing devices are becoming more and more popular.
On the basis of application, the market is divided into general surgery, gynaecological surgery, and urological surgery. The category of general surgery is anticipated to experience the largest CAGR growth during the projection period.
The rise in colorectal, hernia, and abdominal operations is anticipated to be a major factor in the expansion of this market.
The market is divided into five regions based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Due to the presence of numerous companies and the rising number of surgical procedures in the region, North America is anticipated to be the region with the largest market for vessel sealing devices.
Market Factors for Vessel Sealing Devices
A medical device called a “vascular sealing device” is used to close off blood vessels and stop bleeding. Surgery, endoscopy, and catheterization are just a few medical procedures that involve vessel sealing devices.
Vessel sealing systems come in a variety of varieties, each with unique benefits and drawbacks. The electro-cautery device is the most popular kind of vessel sealing equipment. Heat is used by electrocautery devices to close blood vessels and halt bleeding.
Electro-cautery devices have several benefits, including:
- They are efficient at sealing vessels and quick and simple to use.
- They do not significantly harm tissue.
The following are some of the disadvantages of electro-cautery devices:
- They can cause burns and be challenging to control.
- They may emit fumes and smoke.
The ultrasonic device is another sort of vessel sealing device. Sound waves are used by ultrasonic devices to close blood vessels and stop bleeding.
Among the benefits of ultrasonic technology are:
- They work well to seal vessels.
- They do not significantly harm tissue.
Ultrasonic devices have several drawbacks, including:
Many medical procedures require the use of vessel sealing devices. They work well to halt bleeding and seal vessels, and they are quick and simple to use. Vessel sealing devices, however, can be dangerous and difficult to regulate. They can also result in burns and emit smoke and fumes.
Impact of the Vessel Sealing Devices Market, COVID-19
The worldwide economy has been significantly impacted by the COVID-19 epidemic, with the healthcare industry one of the most hit sectors. The pandemic is predicted to cause a 4.4% decrease in global healthcare spending in 2020. In comparison to the anticipated growth of 5.4% in 2020, this is a substantial decline.
The medical equipment industry has been particularly hard hit by the pandemic, as demand for its goods has drastically decreased. In contrast to a growth rate of 4.6% in 2019, the global market for medical devices is predicted to shrink by 6.6% in 2020.
The market for vessel sealing devices, which is predicted to have a loss of 9.1% in 2020, is one of the worst-hit sectors of the medical device market. The market for vessel sealing devices was estimated at US$ 1.8 billion in 2019; in 2020, it is anticipated to fall to US$ 1.6 billion.
The market for vessel sealing devices is anticipated to experience a gradual recovery over the coming years, increasing at a CAGR of 4.7% from 2020 to 2025 to reach US$ 2.1 billion.
The market for vessel sealing devices has been significantly impacted by the COVID-19 epidemic. Due to hospitals and surgery centres delaying elective procedures, demand for vessel sealing devices has dramatically decreased. Due to the financial hardship brought on by the epidemic, many hospitals have also stopped purchasing new medical equipment, including vessel sealing devices.
The fact that many manufacturers have stopped production as a result of the pandemic is another factor contributing to the reduction in the market for vessel sealing systems. The shutdown of facilities in China, a significant provider of medical devices, has also impacted the supply of vessel sealing devices.
As the healthcare industry starts to function normally again, the market for vessel sealing devices is anticipated to rebound over the next few years. The market is anticipated to be driven by the rising frequency of chronic diseases, the rising number of surgical procedures, and the ageing population.
Key Industry Developments in the Market for Vessel Sealing Devices
Due to the daily development of new technology and therapies, the medical device sector is continually changing. Vessel sealing devices are one such innovation that has become more common in recent years. These tools are used during surgery to stop bleeding by sealing blood vessels.
A growing number of people are using vessel sealing systems because of their many advantages. They can be finished faster and with less discomfort than more typical vessel sealing techniques like suturing. Additionally, vessel sealing tools provide a more trustworthy closure and are less likely to harm tissue.
There are numerous vessel sealing technologies on the market, each with unique benefits and drawbacks. The following are some of the most widely used kinds of vessel sealing devices:
Endoscopic vessel sealing tools: These tools are placed through tiny skin incisions to close the vessel using heat or laser radiation. Endoscopic vessel sealing devices offer a faster recovery time and a less intrusive procedure than conventional vessel sealing techniques.
Devices for laparoscopic vessel sealing: These are implanted through tiny abdominal incisions and seal the vessel with heat or laser radiation. Compared to conventional vessel sealing techniques, laparoscopic vessel sealing devices are less intrusive and allow a quicker recovery.
Devices for closing open vessels: These devices are implanted through significant skin incisions and seal the vessel with heat or laser energy. Devices for sealing open vessels are more intrusive than endoscopic or laparoscopic ones, although they have a faster rate of recovery.
Using vessel sealing devices during surgery is a secure and reliable approach to stopping bleeding. They are more dependable, less intrusive, and have a quicker recovery period than conventional techniques. Consult your doctor about whether vascular sealing devices are appropriate for you if you’re thinking about having surgery.
Future Prospects for the Vessel Sealing Devices Market
The market for vessel sealing devices is projected to expand during the forecast period of 2019–2027 at a CAGR of roughly 7.5%. The market is primarily being driven by three factors: an increase in surgical procedures, technology developments, and minimally invasive surgeries.
Laparoscopic surgeries, urological surgeries, and gynaecological surgeries are just a few surgical procedures that involve vessel sealing devices. These tools are used to seal tissues like blood veins. To meet the unique needs of the surgeon, they come in a range of sizes and shapes.
One of the key reasons propelling the market for vessel sealing devices is the increase in surgical operations. The World Health Organization predicts that by 2030, there will be 234 million surgical procedures carried out globally. The rising incidence of chronic diseases and the rise in accidents and trauma cases are both contributing factors to the rise in surgical procedures.
Another significant driver propelling the market for vessel sealing devices is technological development. Surgery has become easier, safer, and more effective because of the development of innovative and cutting-edge vascular sealing devices. To meet the unique demands of the surgeon, these devices come in a range of sizes and designs.
Another factor boosting the market for vascular sealing devices is the rise in less invasive operations. A range of advantages, including less discomfort, less blood loss, shorter hospital stays, and quicker recovery, are linked to minimally invasive surgeries.
However, one of the main factors limiting the market’s growth is the high price of vessel sealing devices.
The market for vessel sealing devices is divided into three categories based on the product, application, and end user. The market is divided into monopolar vessel sealing devices, bipolar vessel sealing devices, and ultrasonic vessel sealing devices based on the kind of product.