Surgical Clips Market to hit USD 1.8 billion by 2032, says Global Market Insights Inc.
Globe Newswire - Dec 18th, 2024
The surgical clips market, valued at USD 655.9 million in 2023, is projected to grow at a CAGR of 11.9% from 2024 to 2032. Essential in medical procedures, surgical clips are used to close tissues, blood vessels, and ducts, providing an alternative to sutures and staples with minimal tissue trauma. The market growth is driven by the aging population, increased prevalence of chronic diseases, and the rise of laparoscopic and robotic-assisted surgeries. Ligating clips led the market in 2023, accounting for 68.5% of the share, due to their effectiveness in controlling blood flow. Titanium material held the largest share in 2023, expected to reach a value of USD 1 billion by 2032, due to its lightweight, durable, and biocompatible properties. The U.S. market alone is expected to reach USD 642.4 million by 2032. Major market players include Ackermann Instrumente, Applied Medical Resources, and others. Challenges include stringent regulatory requirements and a lack of skilled professionals, while growth is supported by technological advancements and expanding healthcare infrastructure.
RATING
The article provides a detailed overview of the surgical clips market, focusing on market size, growth projections, and key market segments. While it offers valuable insights into market dynamics, it lacks in certain areas such as balance and transparency.
RATING DETAILS
The article provides specific data points and projections for the surgical clips market, such as market size and growth rate, which appear to be backed by a research report from Global Market Insights. However, without direct access to the report or its sources, verification of these figures is limited.
The article predominantly presents information from a market growth perspective and lacks multiple viewpoints or potential drawbacks of the market. It does not address any potential negative impacts or challenges the market might face, such as competition or regulatory hurdles, beyond mentioning 'industry pitfalls & challenges' in the ToC.
The article is clearly written and logically structured, providing a straightforward overview of the market. However, it includes promotional elements, such as links to request a sample report or customization, which might detract from its neutrality.
The article cites Global Market Insights, a known market research provider, which adds credibility. However, the lack of diverse sources or independent verification of the claims reduces the overall reliability of the information.
While the article mentions that the data is sourced from a research report, it lacks transparency regarding the methodology used to obtain the market data and projections. The article also does not disclose any potential conflicts of interest or affiliations.