Clip Applicator Market to Surge at a Robust Pace by 2027

Clip Applicator Market: Overview

Surgical clip applicator comprises a mouthpiece with tool jaws for holding a clip during the application. Clip applicator is generally U-shaped or V-shaped in design and the mouthpiece of the clip applicator is usually fork-shaped. This instrument helps to carry out surgical procedures. The mouthpiece of the applicator is made of either plastic or steel.
The global clip applicator market is anticipated to expand at a significant pace during the forecast period, owing to the increase in the number of surgeries and preference of surgeons for these clips, as they help avoid tissue rapture through clip application at the right position.

Key Drivers of Global Clip Applicator Market

According to the American Heart Association, cardiovascular disease is one of the most common causes of mortality, accounting for approximately 17 million deaths (30% deaths) every year, a number that is expected to increase to over 23.6 million by 2030. Common reasons for cardiovascular disease are unhealthy diet, physical inactivity, cholesterol, tobacco use, and alcohol. Cardiovascular disease require surgical procedures. This is expected to be a key factor driving the global clip applicator market during the forecast period.
Companies operating in the global clip applicator market are improving their distribution network. They have adopted strategies, such as mergers & acquisitions, development of new products, joint ventures, and expansions, to cater to the increasing demand for clip applicators in different regions.

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Availability of Cheap Clip Applicators to Hamper Market

The clip applicator market is highly fragmented. The market consists of several small- to medium-sized companies that compete with each other and large enterprises. Several regional and local manufacturing players offer low cost clip applicators.
High preference for low-cost clip applicators and their reusability in repeated surgery have limited sales volume of many clip applicator manufacturing companies. This is hampering the clip applicator market.

Asia Pacific to Hold a Major Share of Global Clip Applicator Market

Asia Pacific is a leading consumer of clip applicators due to the increase in the number of surgeries and rise in the adoption of modern surgical instruments to perform surgeries. In 2017, the AIIMS hospital in India performed 1.94 lakh surgeries, the highest number of surgeries performed across the world within a year.
The clip applicator market in North America is estimated to expand at a rapid pace during the forecast period. This can be attributed to the rise in ageing population, favorable reimbursement policies for surgeries in the region, and high cost of clip applicators. Moreover, high volume of surgeries is also expected to drive the clip applicator market in the region. According to the Texas Heart Institute, 500,000 coronary bypass procedures are performed each year in the U.S.
According to the WHO, C-section deliveries account for more than 50% of the total births every year in Brazil. Moreover, high prevalence of chronic disease and improvement in medical infrastructure are factors that are likely to drive the demand for surgical procedures in Latin America. This, in turn, will propel the market for clip applicators in the region.

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Key Players Operating in Global Market:

Major players operating in the global clip applicator market are:

Global Clip Applicator Market: Research Scope

Global Clip Applicator Market, by Instrument Type

Global Clip Applicator Market, by Application