Expansion in Emerging Economies in Asia Pacific and Latin America to Offer Opportunities to Laparoscopic Clips Manufacturers
- Asia Pacific consists of China, Japan, India, Australia, and New Zealand. The region is projected to be the most attractive market for laparoscopic clips in the near future. Growth of the market in the region is expected to be supported by India, China, and Japan. Japan is one of the largest medical devices markets, while China and India are the most populated countries.
- Rise in per capita income, developing medical sector, and acceptance of newer technology are the major factors favoring the market
- Emerging economies are major markets for laparoscopic clips due to expansion of health care infrastructure in these countries
- Surge in trend of medical tourism, developing medical sector, and rise in the availability of skilled doctors & advanced technology have increased the number of laparoscopic procedures which in turn drives the laparoscopic clips market in Asia Pacific
- Economic development, rise in disposable income of patients, and increase in health care awareness in Asia and Latin America are gradually attracting major players to expand their business in these regions
- The Government of China has increased investments in the health care sector, allowing more training opportunities for surgeons and development of infrastructure. These trends will have a positive impact on the laparoscopy clips market in the region.
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Key Drivers and Restraints of Global Laparoscopic Clips Market
- Rise in obesity rate across the globe increases demand for laparoscopic surgeries. This in turn is expected to augment the global laparoscopic clips market in the near future. Currently, North America has the largest number of laparoscopic surgeries being performed every year. However, growing medical tourism is likely to make Asia Pacific the next major destination for laparoscopic surgeries.
- According to the World Health Organization, obesity rate is rising across the globe. The global obese population was estimated to be 1.4 billion adults and more than 40 million children under the age of five in 2010
- Laparoscopic procedures are minimally invasive, as these involve small incisions in the patient’s body, unlike an open surgery. Minimally invasive surgery offers fast recovery time, reduces the risk of atrial fibrillation and is less time consuming. This attracts a lot of consumer attention, which in turn drives the market.
- Laparoscopic procedures, like any other health care related procedure, have the risks of side effects. Studies have shown that patients experience bodily disorders such as post-surgery pain, damaged tissues & blood vessels, and gastrointestinal disorders post a laparoscopic procedure. These side effects act as a restraint of the laparoscopic clips market.
Polymeric Absorbable Clips Segment to Expand Significantly
- In terms of type, the global laparoscopic clips market can be bifurcated into polymeric absorbable clips and metallic clips
- The polymeric absorbable clips segment dominated the market owing to high potential of providing long-term benefits to patients following laparoscopic surgery because it prevents the impact of foreign bodies
Hospitals Dominated Global Market
- Based on end-user, the global laparoscopic clips market can be classified into hospitals, clinics, medical research centers, and others
- The hospitals segment is projected to witness strong growth due to rise in laparoscopic procedures at these settings
North America to Lead Global Laparoscopic Clips Market
- In terms of region, the global laparoscopic clips market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is projected to account for major share of the global laparoscopic clips market during the forecast period, owing to continuous technological innovations and available capital to upgrade to latest expensive equipment
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Key Manufacturers Operating in Market
The global laparoscopic clips market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- Aesculap, Inc. (B. Braun Melsungen)
- Ovesco Endoscopy AG
- Ethicon, Inc. (Johnson & Johnson)
- Teleflex Incorporated
- CONMED Corporation
- Cooper Medical
- HOYA Corporation
Global Laparoscopic Clips Market, by Type
- Polymeric Absorbable Clips
- Metallic Clips
Global Laparoscopic Clips Market, by End-user
- Medical Research Centers
Global Laparoscopic Clips Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.