The global 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.
Clamps are medical devices that are used during surgical procedures to grasp, hold, or compress tissues and vessels. Different types of clamps available in the market include locking forceps, bulldog clamps, aneurysm clips, microclips, and needle holders. Clamps aid surgeons in hemostasis and provide a clear field of vision during surgery. They help control bleeding from blood vessels or organs, approximating tissues, and isolating anatomical structures. The increasing number of surgical procedures across the world is the key factor driving growth of the clamps market.
Market key trends:
One of the key trends in the clamps market is the rising adoption of single-use clamps. Single-use clamps help eliminate risks of cross-contamination between patients as each clamp is used only once and then disposed of. This reduces exposure of patients to infections during surgical procedures. Furthermore, automated, battery-powered clamps are also gaining traction in the market. These clamps allow remote activation and release of tissues, helping surgeons perform complex surgeries efficiently. Their hands-free operation reduces physical strain experienced by surgeons. The automation also helps achieve more consistency and accuracy during procedures.
- Threat of new entrants: Low capital requirements and established buyer relationships lower barriers to entry in the clamps market.
- Bargaining power of buyers: Large healthcare providers have significant buyer power due to the consolidated nature of the industry.
- Bargaining power of suppliers: A few large suppliers exist, however the threat is moderate due to low switching costs for buyers.
- Threat of new substitutes: New technologies may threaten clamps, however there are currently few alternatives for their procedures.
- Competitive rivalry: The clamps market is mature with some product differentiation, leading to moderate-high competitive pressures.
The Global Clamps Market Demand is expected to witness high growth, exhibiting CAGR of 2.8% over the forecast period, due to increasing number of surgical procedures. North America is expected to dominate the global clamps market over the forecast period due to the advanced healthcare infrastructure and high demand for minimally invasive surgeries in the region. Key players operating in the clamps market incorporate 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.
The global clamps market size was valued at US$ 205.17 million in 2023. Growth in the market is attributed to rising number of surgical procedures globally along with increasing adoption of minimally invasive surgeries. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2019, over 51 million inpatient surgeries were performed in the United States.
Regionally, North America is expected to hold a significant share in the global clamps market due to large patient population, growing incidence of lifestyle diseases, rising healthcare spending, and rapid adoption of advanced medical technologies. Additionally, presence of major players and implementation of favorable reimbursement policies support the regional market growth.
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. These players are focusing on new product launches and geographical expansion to strengthen their global presence.