Clip Applicator Market Size To Reach $12.05 Billion By 2030

December 2024 | Report Format: Electronic (PDF)

Clip Applicator Market Growth & Trends

The global clip applicator market size is expected to reach USD 12.05 billion by 2030 according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 10.0% from 2024 to 2030. Rise in laparoscopic surgeries and high demand for minimally invasive procedures are projected to propel the growth.

The number of laparoscopic surgeries is increasing annually. As per the data published by June Medical, around 1.5 million laparoscopic surgeries are performed in U.K. every year. Growth in the number of laparoscopic surgeries is attributed to increasing acceptance and popularity among both doctors and patients. This factor is anticipated to augment the demand for clip applicator over the forecast period.

Rising prevalence of gastrointestinal diseases and cancers among other diseases that require endoscopy procedures, is one of the factors boosting the market growth. In addition, prevalence of chronic diseases among baby boomers, awareness regarding novel devices as well as rising preference for minimally invasive surgeries is anticipated to support the market growth. Recent endoscopy techniques have revolutionized the examination and treatment of upper gastrointestinal tract including duodenum, stomach, and esophagus, and the colon.

Growing number of gynecology surgeries is also driving the clip applicator market. As per a study by the Japan Society of Obstetrics and Gynecology, the number of endoscopic surgeries increased from 56, 233 surgeries in 2014 to 80, 678 in 2016 nationwide.

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Clip Applicator Market Report Highlights

Endoscopic appliers dominated the market and accounted for a share of 52.5% in 2023 due to lower invasiveness and faster recovery times, is driving the adoption of clip applicators.
Hospitals & clinics accounted for the largest revenue share of 55.1% in 2023. Minimally invasive surgeries, facilitated by clip applicators, offer significant benefits, including reduced hospitalization time, accelerated patient recovery, and decreased risks of blood loss, infection, and pain.
North America clip applicator market dominated the global clip applicator market in 2023, generating a revenue share of 45.3%.