Vessel Sealing Devices Market Emerging Trends, Opportunities and Forecasts 2028

Vessel Sealing Devices Industry Overview

The global vessel sealing devices market size is anticipated to reach USD 2.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 8.1% from 2021 to 2028. The key factors driving the market growth include the rising number of surgeries across the globe, aging population, and technological advancements.

Vessel Sealing Devices Market Segmentation

Grand View Research has segmented the global vessel sealing devices market on the basis of application, product, end user, and region:

Based on the Application Insights, the market is segmented into General Surgery and Laparoscopic Surgery.

• The laparoscopic surgery segment dominated the market for vessel sealing devices and accounted for the largest revenue share of 61.8% in 2020. The segment is also estimated to witness a CAGR of 8.8% in the coming years. The key factor contributing to this growth includes a growing preference for and rising number of minimally invasive surgeries and awareness of benefits of laparoscopic surgeries over open surgeries.
• The general surgery segment is also expected to grow over the forecast period. Olympus Corporation, offers Thunderbeat and Sonicbeat instruments lineup for endoscopic and open surgery. The devices use ultrasonic energy for fast and precise dissection and advanced bipolar energy for sealing vessels and for secure hemostasis. The seal and cut mode enables spot coagulation and pre-sealing of vessels through fewer steps to ensure optimal outcomes during open surgical procedures.

Based on the Product Insights, the market is segmented into Generators, Instruments and Accessories.

• The instruments segment dominated the market for vessel sealing devices and accounted for the largest revenue share of 43.1% in 2020. The segment is also expected to witness the fastest CAGR of 8.6% over the forecast period. The key factors contributing to this share include rising demand for reliable, affordable, and safe vessel sealing instruments, product developments, and the rising number of surgical procedures.
• The generators segment is anticipated to register notable growth owing to technological advancements such as integrated devices and multiple applications. The VIO 3 Generator marketed by the German Erbe Elektromedizin company, for instance, supports the use of up to 6 instruments for various procedures and the user programs can be upgraded through the Erbe support app.

Based on the End-use Insights, the market is segmented into Hospitals & Specialty Clinics and Ambulatory Surgical Centers.

• The hospitals and specialty clinics segment dominated the market for vessel sealing devices and held the largest revenue share of 57.4% in 2020. This is attributable to a higher volume of surgeries performed in hospital settings. Vessel sealing devices in particular reusable devices, also offer better efficacy and cost savings for the end-users.
• The Ambulatory Surgical Center (ASC) segment is anticipated to register the fastest CAGR of 9.9% over the forecast period due to the increasing number of ambulatory centers and related cost-effectiveness.

Vessel Sealing Devices Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Key Companies Profile & Market Share Insights

The market is competitive in nature. Market players implement strategic initiatives, such as product development and launches, expansion of distribution network, and global footprint through subsidiaries and partnerships. Key players are also involved in portfolio diversification and mergers and acquisitions.

Some of the prominent players operating in the global vessel sealing devices market include,

• Medtronic
• Olympus Corporation
• Braun Melsungen AG
• Medical Devices Business Services, Inc. (Johnson & Johnson)
• Erbe Elektromedizin GmbH
• Bowa Medical
• OmniGuide Holdings, Inc.
• Intuitive Surgical
• Bolder Surgical, LLC
• KLS Martin Group

Order a free sample PDF of the Vessel Sealing Devices Market Intelligence Study, published by Grand View Research.