Vessel Sealing Devices Market Size, Share & Trends Report

Vessel Sealing Devices Market Size, Share & Trends Analysis Report By Application (General Surgery, Laparoscopic Surgery), By Product (Generators, Instruments, Accessories), By End User, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Jul, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-476-6
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 150

Report Overview

The global vessel sealing devices market size was valued at USD 1.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.1% from 2021 to 2028. Growing product developments, surgical procedures, and preference for minimally invasive surgeries are some of the key drivers of this market. Medtronic, a market leader in vessel sealing devices for example, registered record sales of USD 5.4 million in its surgical innovations portfolio comprising of advanced energy, stapling, and visualization devices. This was owing to a strong portfolio with continuous product enhancements.

North America vessel sealing devices market size, by application, 2018 - 2028 (USD Million)

The COVID-19 pandemic adversely impacted the market for vessel sealing devices with low demand and sales. This resulted from supply chain challenges, deferred or canceled elective procedures, reduced sales and marketing activities, and movement restrictions due to lockdowns. Medtronic for instance reported a negative impact of COVID-19 on its fourth-quarter financial results ending April 24, 2020. The company was also impacted by the postponed elective and semi-elective procedures that use Medtronic’s products. The reluctance of people for undergoing non-COVID-19 emergency procedures affected the company’s emergent product lines.

In its 2020 annual report, Intuitive Surgical reported a 3.0% decrease in revenue compared to 2019, owing to constraints in staff and ICU capacity in hospitals and deferred surgical procedures. The company reported a 19.0% year-on-year decline in procedures during Q2 2020 with a gradual recovery in Q3 and Q4. Intuitive Surgical estimated that about 1.25 million surgeries were performed during the year. The company, however, reported growth in its surgical energy portfolio, with its E-100 generator, SynchroSeal system, and vessel sealers lineup gaining customer acceptance. The company planned to expand its regional presence outside the U.S., advance its product launches, and extend economic, clinical, and hospital-by-hospital validation in key countries and procedures, as part of its 2021 strategy.

COVID19 Vessel Sealing Devices market impact: over 5.93% decline in demand

Pandemic Impact

Post COVID Outlook

The earlier projections depicting approximately 6.5% YoY growth was countered by the pandemic resulting in a decline of 0.2% in the year-on-year growth rate from 2019 to 2020.

The market is expected to regain its previous growth and demonstrate a year-on-year growth rate of 6.4% from 2020 to 2021 and 6.7% from 2021 to 2022.

Intuitive Surgical announced a 3% decrease in its annual revenue from 2019 to 2020 due to issues in ICU capacity in hospitals and deferred surgical procedures.

In its strategy for 2021, Intuitive Surgical plans to expand its market presence outside the U.S. and advance its product portfolio.

Patients were reluctant to go through non-essential COVID-19 procedures, which further impacted the market.

 

 

Rising product improvements is a key driver contributing to the growth of the market for vessel sealing devices. This is due to the growing demand for vessel sealing devices that offer better consistency, utility, reliability, efficiency, and safety. According to an article published in the International Journal of Scientific Research, an ideal vessel sealing device is effective on vessels having a diameter less than or equal to 7mm, produces minimal thermal spread, works quickly, is reusable, and produces consistent results. Market players are also involved in integrating these devices into robotic surgical systems. For example, Intuitive Surgical’s SynchroSeal is compatible with the da Vinci surgical system and enables the user to quickly seal and cut vessels up to 5 mm in diameter.

Elective surgeries are anticipated to return to pre-COVID numbers as the underlying causes remain unchanged. The American Society of Anesthesiologists (ASA) has released several guidelines for resuming elective surgery. The American College of Surgeons has also released a roadmap for resuming elective surgeries in collaboration with the ASA, Association of Perioperative Registered Nurses, and the American Hospital Association. There is also a growing preference for minimally invasive surgeries due to associated benefits such as smaller incisions, reduced pain and scarring, and faster recovery times. These factors are estimated to contribute to the growth of the market for vessel sealing devices during the forecast period. 

Application Insights 

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. According to a 2020 retrospective study performed by the Department of Surgery, Cleveland Medical Center, in the U.S. the number of open procedures performed by general surgery residents has been on the decline since 2000 with a growing preference for minimally invasive surgery. This trend is expected to continue fueling the demand for vessel dealing devices.

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.

Product Insights

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. There is also growing demand for reprocessed or reusable vessel sealing instruments due to their cost-efficacy and associated environmental benefits such as significant reduction in medical waste. KLS Martin Group, based in Germany, offers reusable vessel sealing instruments under the brand name- marSeal.

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. FMX Generator by OmniGuide Holdings offers a touchscreen display and comes with patented software that monitors and adjusts the delivery of energy continuously, facilitating the delivery of an optimal amount of heat to the tissues.

End-user Insights

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. According to a study published in the Journal of Surgical Oncology, reusable vessel sealing devices used in modified total neck dissection procedures significantly reduced medical costs and provided similar clinical efficacy compared to disposable devices.

Global vessel sealing devices market share, by end user, 2020 (%)

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. According to the March 2021 data provided by the Centers for Medicare and Medicaid Services (CMS), there are about 187 Medicare-certified ASCs in Washington state, 817 in California, 442 in Texas, 457 in Florida, and 368 in Georgia. These numbers are expected to increase over the coming years.

Regional Insights

North America dominated the vessel sealing devices market and accounted for the largest revenue share of 52.1% in 2020. The large share of the region is due to the presence of key players and technologically equipped hospitals in the U.S. and Canada. Europe held the second-largest revenue share of the market in 2020 due to an aging population and prevalence of chronic conditions resulting in the increasing number of surgeries. As per the Federal Statistical Office, 17. 2 million surgeries were performed in Germany in 2019. Out of these intestinal, spinal, endoscopic surgeries, and hip implant surgeries were some of the most common. This is estimated to contribute to the region's share.

In Asia Pacific, the market for vessel sealing devices is estimated to witness the fastest CAGR of 10.4% over the next few years. This is owing to investments by companies to expand their regional presence and developing healthcare infrastructure. For example, the All India Institute of Medical Sciences (AIIMS) in Bhubaneswar India, procured Medtronic accessories and consumables for cautery machine with vessel sealing in January 2020 through the company’s authorized representative in the country- Sushruta Surgicals Pvt. Ltd. The products were intended to equip the institute’s Department of Surgical Oncology.

Key Companies & 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. For instance, in January 2021, Bolder Surgical launched CoolSeal Vessel Sealing Platform thus adding to its line of vessel sealing products. In November 2019, Intuitive Surgical’s SynchroSeal vessel sealer and E-100 Generator for da Vinci X/Xi surgical platforms received FDA clearance.

According to June 2021 Goldman Sachs Global Healthcare Conference report, Medtronic dominated the advanced energy market (with around 60% share) and is a leader in the RF segment due to its robust offerings such as the LigaSure Vessel Sealing Instruments. Going forward, the company plans to increase its share of the ultrasonic market. Some of the prominent players in the vessel sealing devices market include:  

  • Medtronic

  • Olympus Corporation

  • B. 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

Vessel Sealing Devices Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 1.4 billion

Revenue forecast in 2028

USD 2.4 billion

Growth Rate

CAGR of 8.1% from 2021 to 2028

Base year for estimation

2020

Historical data

2016  -  2019

Forecast period

2021  -  2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, product, end user, region

Regions covered

North America; Europe; Asia Pacific; Latin America; MEA

Country Scope

U.S.; Canada; U.K.; Germany; Italy; France; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia

Key companies profiled

Medtronic; Olympus Corporation; B. 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

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional, and segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this report, Grand View Research has segmented the global vessel sealing devices market report on the basis of application, product, end user, and region:

  • Application Outlook (Revenue, USD Million, 2016 - 2028)

    • General Surgery

    • Laparoscopic Surgery

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Generators

    • Instruments

    • Accessories

  • End-user Outlook (Revenue, USD Million, 2016 - 2028)

    • Hospitals & Specialty Clinics

    • Ambulatory Surgical Centers

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • MEA

      • South Africa

      • Saudi Arabia

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