Global Endoluminal Suturing Devices Market Size, Share & Industry Trends Analysis Report By Application (Gastrointestinal Surgery, Bariatric Surgery, Gastroesophageal Reflux Disease Surgery and Others), By End User, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Endoluminal Suturing Devices Market
Market Report Description
The Global Endoluminal Suturing Devices Market size is expected to reach $152.3 million by 2028, rising at a market growth of 12% CAGR during the forecast period.
Endoluminal suturing tools are employed in a variety of minimally invasive treatments on hollow organs that call for the use of surgical techniques including stapling and suturing. The rising obesity prevalence in several developed nations as well as obesity-related health issues are expected to fuel market expansion for endoluminal suturing devices. Bariatric procedures, gastroesophageal reflux disease, and gastrointestinal deformities are just a few of the applications for which the products provided by the participants and manufacturers in the worldwide endoluminal suturing devices market are used.
Therapeutic therapies employing bariatric endoscopy to combat obesity, which affects millions of people across the world and has now become a pandemic, are progressively becoming the preferred choice in a variety of healthcare settings. Devices for suturing and stapling are mostly utilized in medical procedures related to GERD and obesity.
The main benefit is that these devices’ deployment allows for minimally invasive clinical treatments. Due to significant advancements, clinical trials and treatments have historically advanced at a slower rate than in recent years. For endoscopic procedures, doctors frequently utilize endoluminal suturing devices, which are used to put thick sutures in the intended area with the aid of flexible sutures. A tiny, specialized suturing tool used in endoscopic surgery that has flexibility.
COVID-19 Impact Analysis
Millions of people and companies are being impacted by the COVID-19 pandemic, which has become both an economic and humanitarian calamity. Industry closures and requests for people to remain in their houses have had a significant negative impact on economic growth and money. Healthcare organizations are already creating new strategies to deal with the increasing number of COVID-19 patients, from locating speedy diagnostic tools to having enough PPE kits for staff. The funding for R&D efforts connected to endoluminal suturing devices has been decreased as a result of the medical community's focus shifting to the treatment of COVID-19. This segment is now being neglected, which will have a detrimental effect on the market for endoluminal suturing devices.
Market Growth Factors
The Growing Global Trend in Surgical Treatments
Open operations, abdominal procedures, endoscopic, and other gastrointestinal surgeries frequently use endoluminal suturing tools. The affordability and accessibility of surgical treatment have improved over time, which has resulted in a large increase in the number of surgeries involving suturing devices. The demand for cutting-edge surgical equipment, particularly suturing devices, has expanded further as a result of the rising frequency of lifestyle illnesses and the ensuing increase in surgical procedures. The prevalence of gastrointestinal disorders is on the rise, which will increase customer demands for endoluminal suturing devices and boost the sector's value.
Robotics' Use in Endoluminal Surgery
The utilization of endoluminal suturing devices in constrained spaces, error reduction and the ability of the surgeon to mimic human wrist movement have all been addressed by the use of robots in endoluminal suturing. Additionally, using robotics gives the surgeon more control over the robotic arm and enables improved three-dimensional vision. The aforementioned reasons are why several manufacturers are incorporating robotics into endoluminal suturing. The majority of endoluminal suturing devices are used in the hospital sector because of the high volume of patients receiving gastrointestinal treatments there.
Marketing Restraining Factor:
Alternate Wound Care Management Products Are Available
Staplers, ligating clips, wound closure strips, sealing agents, skin adhesives, and hemostats are common substitutes for surgical sutures that have some advantages over them. The availability of substitutes is a significant limitation for the market for endoluminal suturing devices because of their effectiveness and advantages over surgical sutures. The ideal substitutes for the sutures used during surgeries are topical skin adhesive and sealing agents such as human fibrinogen, thrombin fleeces, gelatin sealants, fibrin sealants, as well as devices like wound closure strips, ligating clips, and stapling devices for the wound closure.
Based on application, the Endoluminal Suturing Devices Market is divided into Bariatric Surgery, Gastrointestinal Surgery, Gastroesophageal Reflux Disease Surgery, and Other Surgeries. The Bariatric Surgery segment recorded a significant revenue share in the Endoluminal Suturing Devices Market in 2021. Due to the rising prevalence of obesity and the increasing number of bariatric surgical procedures, the bariatric surgery category also holds a sizeable market share. Gastric bypass, gastric sleeve, gastric revisional, gastric balloon, small gastric bypass, and gastric endoscopic sleeve are just a few of the different bariatric procedures that surgeons do.
End User Outlook
On the basis of end-user, the Endoluminal Suturing Devices Market is segmented into Hospitals, Clinics, Ambulatory Surgical Centres, and Other End Users. The Gastrointestinal Surgery segment acquired the highest revenue share in the Endoluminal Suturing Devices Market in 2021. It is due to the increased use of endoluminal suturing devices to treat the rising incidence of gastrointestinal cancer patients and gastrointestinal illnesses. This is due to the rise in GI procedures and the availability of different GI applications, such as those for disorders related to the abdomen.
|Market size value in 2021||USD 69.4 Million|
|Market size forecast in 2028||USD 152.3 Million|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 12% from 2022 to 2028|
|Number of Pages||167|
|Number of Tables||279|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||End User, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the Endoluminal Suturing Devices Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region garnered the highest revenue share in the Endoluminal Suturing Devices Market in 2021. The presence of a highly developed healthcare system, rising surgical procedure volumes, rising ASC surgical procedure volumes, and the presence of major market participants in the area all contribute to the region's market growth. This is because there is a sizable patient base and supportive reimbursement regulations.
Free Valuable Insights: Global Endoluminal Suturing Devices Market size to reach USD 152.3 Million by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apollo Endosurgery, Inc., Johnson & Johnson, Medtronic PLC, Cook Medical, Inc. (Cook Group), USGI Medical, Ovesco Endoscopy AG, Endo Tools Therapeutics S.A., ErgoSuture, Suture Ltd.
Scope of the Study
Market Segments Covered in the Report:
- Gastrointestinal Surgery
- Bariatric Surgery
- Gastroesophageal Reflux Disease Surgery
By End User
- Ambulatory Surgical Centers
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Apollo Endosurgery, Inc.
- Johnson & Johnson
- Medtronic PLC
- Cook Medical, Inc. (Cook Group)
- USGI Medical
- Ovesco Endoscopy AG
- Endo Tools Therapeutics S.A.
- Suture Ltd.
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