Clamps Market

Clamps Market Is Estimated To Witness High Growth Owing To Growing Infrastructural Development

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The clamps market is estimated to be valued at US$ 205.17 million in 2023 and is expected to exhibit a CAGR of 2.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Clamps are medical devices used to hold tissues, blood vessels and arteries during surgeries. Different types of clamps are available for various surgical applications like artery clamps to temporarily clamp arteries during vascular anastomoses, tissue forceps for grasping tissues during procedures. Clamps allow surgeons to perform surgical tasks requiring control of bleeding or tissue manipulation effectively.

Market Dynamics:

The clamps market is expected to witness significant growth owing to increasing infrastructural development activities globally. Rapid urbanization and industrialization have boosted the construction of new hospitals and healthcare infrastructure in developing nations. This is increasing the demand for various surgical procedures where clamps are integral medical devices. Furthermore, rising prevalence of chronic and lifestyle diseases has led to surge in number of surgeries performed annually worldwide. According to Healthcare Cost and Utilization Project (HCUP), over 50 million surgeries were carried out in the U.S. in 2018 alone. Growing surgical volume is directly fuelling the need for clamps during procedures, thereby driving the market growth over the forecast period.

SWOT Analysis

  • Strength: The clamps market has significant opportunities for growth due to increasing surgical procedures globally. The clamps help provide better control and precision during surgeries. Major players in the market offer a wide range of clamps to meet all surgical requirements.
  • Weakness: Lack of skilled professionals for handling different types of clamps can increase procedural errors. High costs associated with technologically advanced clamps limit their adoption in some regions.
  • Opportunity: Growing geriatric population suffering from chronic diseases increases the demand for surgical procedures. Technological advancements are helping introduce user-friendly and affordable clamps.
  • Threats: Threat of substitutes such as hemorrhoidal ligatures and ties. Stringent regulatory norms for new product approval can delay market entry.

Key Takeaways:

The Global Clamps Market Growth is expected to witness high, exhibiting CAGR of 2.8% over the forecast period, due to increasing surgical procedures globally. The number of general surgical procedures has increased from 271.2 million in 2012 to 314.9 million in 2017, according to the International Society of Surgery.

Regional analysis

North America dominates the global clamps market, owing to rising prevalence of lifestyle diseases, technical advancements, and growing demand for minimally invasive surgeries. According to the American Hospital Association, around 51.4 million inpatient surgeries were performed in the US in 2020. Asia Pacific exhibits the fastest growth in the clamps market due to growing medical tourism, increasing healthcare spending, and rising geriatric population.

Key players

Key players operating in the clamps market are Stryker Corporation, Aspen Surgical, Timesco Healthcare Ltd., Mercian Surgical Supply Co Ltd, Hilbro Group, Microline Surgical, Global Surgical Instruments, Sklar Surgical Instruments, Integra LifeSciences Corporation, and Medline Industries. Stryker Corporation offers a comprehensive portfolio of clamps for general surgical applications.

*Note:
1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it