New York, United States, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The Global Endoluminal Suturing Devices Market Size is to grow from USD 95.30 Million in 2022 to USD 285.58 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 11.6% during the forecast period.
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Endoluminal suturing devices are cutting-edge medical instruments utilized in minimally invasive procedures to suture luminal structures within the body. These devices offer a less invasive alternative to traditional open surgery, enabling secure closure of tissue and organs from inside the body. They find applications in treating gastrointestinal, vascular, and urological conditions. With their flexible delivery systems and advanced technology, endoluminal suturing devices provide precise and controlled suturing capabilities, reducing surgical trauma, shortening recovery periods, and ultimately improving patient outcomes. By expanding treatment options and advancing interventional medicine, these devices are revolutionizing the way various challenging medical conditions are addressed.
Browse key industry insights spread across 200 pages with 150 market data tables and figures & charts from the report on “Global Endoluminal Suturing Devices Market Size, Share, and COVID-19 Impact Analysis, By Application (Bariatric Surgery, Gastrointestinal Surgery, and Gastroesophageal Reflux Disease Surgery), By Component (Suction Port, Cannula, and Needle), By End-User (Hospitals, Clinics, and Ambulatory Surgery Centers), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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In 2022, the gastrointestinal surgery segment accounted for around 39.2% market share
On the basis of the application, the global endoluminal suturing devices market is segmented into bariatric surgery, gastrointestinal surgery, and gastroesophageal reflux disease surgery. The gastrointestinal surgery segment held the largest market share in the endoluminal suturing devices market due to the high prevalence of gastrointestinal disorders, such as GERD and ulcers, has increased the demand for minimally invasive surgical options, driving the adoption of endoluminal suturing devices. Moreover, advancements in endoscopic techniques and the availability of specialized suturing devices for gastrointestinal procedures have further fueled the segment's growth. Additionally, the reduced post-operative complications, shorter recovery times, and improved patient outcomes associated with endoluminal suturing in gastrointestinal surgeries have contributed to its prominence in the market.
The needle segment is expected to grow at a significant CAGR during the forecast period
Based on the component, the global endoluminal suturing devices market is segmented into suction port, cannula, and needle. The needle segment is expected to grow significantly during the forecast period in the endoluminal suturing devices market due to needles are a crucial component used for precise and accurate suturing in various endoluminal procedures. As medical technology continues to advance, needle designs are becoming more sophisticated, offering enhanced control and maneuverability during surgeries. Additionally, the rising prevalence of gastrointestinal and vascular disorders necessitates increased adoption of endoluminal suturing techniques, driving the demand for specialized needles.
The hospital segment held the largest market over the forecast period
Based on the end-user, the global endoluminal suturing devices market is segmented into hospitals, clinics, and ambulatory surgery centers. The hospital segment held the largest market share in the endoluminal suturing devices market due to several key reasons. Hospitals are major healthcare centers equipped with advanced medical facilities, making them ideal settings for complex endoluminal procedures. They handle a wide range of gastrointestinal, vascular, and urological cases, increasing the demand for endoluminal suturing devices. Additionally, hospitals typically have specialized medical teams capable of performing these procedures, further driving the adoption of these innovative devices.
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Asia-Pacific is predicted to grow at a significant CAGR of around 11.8% over the projected period.
Based on region, Asia-Pacific is expected to be a significant player in the endoluminal suturing devices market during the forecast period, a large and rapidly growing population, leading to a higher prevalence of gastrointestinal and vascular disorders, which drives the demand for advanced medical technologies like endoluminal suturing devices. The improving healthcare infrastructure and rising healthcare expenditures in countries like China, India, and Japan are expected to facilitate the adoption of these innovative devices.
North America held the largest market share in the endoluminal suturing devices market due to its well-established and advanced healthcare infrastructure, providing easy access to innovative medical technologies. The high prevalence of gastrointestinal and vascular disorders in North America has increased the demand for minimally invasive treatment options, boosting the adoption of endoluminal suturing devices.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the global endoluminal suturing devices market include Apollo Endosurgery Inc., Johnson & Johnson, Boston Scientific Corporation, Medtronic PLC, Cook Group Incorporated, USG' Medical Inc., Stryker Corporation, ErgoSuture, Sutrue Ltd., and Ovesco Endoscopy AG. And Other Key Vendors.
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Recent Developments
- In June 2021, Ethicon, a Johnson & Johnson company and global leader in flexible endoluminal robotics and soft tissue microwave ablation, announced that its Plus Sutures has been recommended for use by the National Institute for Health and Care Excellence (NICEnew) medical technology guidelines.
- In July 2022, Ovesco Endoscopy AG has obtained ANVISA approval, allowing them to market and sell the OTSC System in Brazil. This regulatory clearance signifies that the Brazilian health authorities have reviewed and deemed the device to be safe and effective for use in endoscopic procedures within the country. This approval opens up opportunities for Ovesco to expand its presence and offer their advanced endoscopic suturing technology to healthcare providers and patients in the Brazilian market.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global endoluminal suturing devices market based on the below-mentioned segments:
Endoluminal Suturing Devices Market, By Application
- Bariatric Surgery
- Gastrointestinal Surgery
- Gastroesophageal Reflux Disease Surgery
Endoluminal Suturing Devices Market, By Component
- Suction Port
- Cannula
- Needle
Endoluminal Suturing Devices Market, By End-User
- Hospitals
- Clinics
- Ambulatory Surgery Centers
Endoluminal Suturing Devices Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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