Vessel Sealing Devices Market Size

Vessel Sealing Devices Market Size

Vessel Sealing Devices Market size was valued at around USD 3 billion in 2023 and is anticipated to register a CAGR of over 7.4% between 2024 and 2032 due to increasing prevalence of chronic ailments and rising demand for minimally invasive surgeries among ageing population.

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Technological advancements pertaining to vessel sealing devices has increased the product adoption rate across several healthcare facilities globally. Additionally, increasing awareness regarding surging elective procedures has driven the product acceptance rate. Rising healthcare spending for providing better healthcare infrastructure, increasing disposable income, and ageing population are some of the major factors responsible for increased adoption of vessel sealing devices globally.

Vessel sealing devices are medical devices used during surgical procedures to securely seal blood vessels and other soft tissues. These devices are intended to provide efficient hemostasis by simultaneously sealing the vessel wall. Vessel sealing devices are often used in various surgical specialties such as general surgery, gynecology, urology, cardiovascular surgery, etc.

However, high cost of vessel sealing devices can be a significant barrier and impede the market growth. Vessel sealing devices can involve additional costs beyond the standard surgical procedures. Vessel sealing devices integrated with advance models that incorporate sophisticated technologies can range at a higher price than regular devices. For instance, the cost of vessel sealing devices can range between USD 2,500 to USD 7,000 and may vary according to the technology used. The high cost of these devices can limit their adoption, particularly in healthcare settings with budget constraints. Thus, high pricing of these devices can restrict their use in developing economies thereby limiting their use up to certain extent.