Global Endoluminal Suturing Devices
Market Report
2024
The global endoluminal suturing devices market was valued at USD 73.3 million in 2022 and is projected to reach USD 170.0 million by 2030, registering a CAGR of 11.3% for the forecast period 2023-2030
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The global Endoluminal Suturing Devices market was valued at USD 73.3 million in 2022 and is projected to reach USD 170.0 million by 2030, registering a CAGR of 11.3% for the forecast period 2023-2030
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Endoluminal Suturing Devices Market Sales Revenue 2022 | $ 73.3 Million |
Global Endoluminal Suturing Devices Market Sales Revenue 2030 | $ 170 Million |
Global Endoluminal Suturing Devices Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 11.3% |
Market Split by Application |
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Market Split by End User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Endoluminal Suturing Devices Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Endoluminal suturing devices are the medical devices that are used for suturing inside the body cavities, such as the gastrointestinal tract, urinary tract, and other organs. These devices are used for various medical procedures such as hernia repair, gastric bypass, and colon resection. They offer several advantages over traditional surgical techniques, including reduced trauma to the surrounding tissue, decreased risk of infection, and quicker recovery times. With the increasing number of minimally invasive surgical procedures, the rising prevalence of obesity, and the growing geriatric population, the demand for endoluminal suturing devices is expected to increase in upcoming years.
The rising prevalence of chronic diseases such as obesity, gastrointestinal cancers, inflammatory bowel disease, and other digestive diseases are major factors driving the growth of the market. Globally, obesity has reached epidemic levels; at least 2.8 million individuals each year pass away as a result of being overweight or obese. The US has previously been criticized for having the highest rate of obesity. According to the Centers for Disease Control and Prevention, the US obesity prevalence was 41.9% in 2017–March 2020, which rose from 30.5% to 41.9% from 1999–2000 through 2017–March 2020. The prevalence of severe obesity rose from 4.7% to 9.2% throughout the same period. Moreover, according to NCBI, the inflammatory bowel disease prevalence was 321.2 per 100,000 people in 2021 and has increased at a rate of more than 46% when compared to 2006 (200 per 100,000 people). These chronic diseases often require surgical interventions, and endoluminal suturing devices offer a less invasive option for patients. These devices have the ability to provide effective suturing with minimal trauma and faster recovery times is increasing their popularity among both patients and healthcare professionals. Therefore, the increase in the prevalence of these diseases is fuelling the growth of the endoluminal suturing devices market.
Minimally invasive weight loss surgeries are becoming increasingly popular due to their lower risk of complications, shorter hospital stays, and faster recovery times compared to traditional open surgeries. These procedures are designed to help patients lose weight by reducing the size of their stomachs, which limits their food intake. Endoluminal suturing devices are used in these procedures to suture the stomach tissue, creating a smaller pouch that can hold less food. The use of endoluminal suturing devices in these procedures provides several advantages, such as reduced trauma to the surrounding tissue, decreased risk of infection, and faster healing times. These factors fuel the demand for minimally invasive weight loss surgeries such as gastric bypass and sleeve gastrectomy, which is driving the growth of the endoluminal suturing devices market.
The high cost of procedures is one of the factors that can hamper the growth of the endoluminal suturing devices market. Although endoluminal suturing devices offer several advantages over traditional surgical techniques, they can be expensive to use, and the cost of the procedure may be a limiting factor for some patients and healthcare providers. The cost of endoluminal suturing devices is high due to the cost of the device itself, the expenses of training healthcare professionals to use the device, and the cost of maintenance and repair. These expenses can add up, making endoluminal suturing procedures more expensive than traditional surgical techniques.
Technological advancements such as the emergence of robotic-assisted endoluminal suturing devices, the integration of artificial intelligence into endoluminal devices, miniaturization, and the integration of wireless communication technology into endoluminal devices have enabled real-time data transmission between the device and the surgeon. These technological advancements have greatly improved the accuracy, efficiency, and effectiveness of surgical procedures, resulting in better outcomes for patients. This integration of new technologies is projected to support the growth of the endoluminal suturing devices market during the forecast period.
The sudden outbreak of the COVID-19 pandemic has had a significant impact on the healthcare industry, including the endoluminal suturing devices market. The pandemic caused disruptions in the global supply chain, which has impacted the production and distribution of endoluminal suturing devices. The lockdowns and travel restrictions imposed by many countries have made it difficult to transport medical devices, and the shortage of raw materials has caused delays in manufacturing.
However, the COVID-19 pandemic has affected people’s health globally. The increased prevalence of obesity has been observed in several countries across the world during the pandemic. According to the survey conducted by the American Psychological Association (APA), in March 2021, around 42% of Americans gained weight, and obesity rates have risen in the U.S. during the pandemic. Thus, the increasing prevalence of obesity will drive the demand for bariatric surgery, which in turn is projected to fuel the growth of the endoluminal suturing devices market during the forecast period. Furthermore, the pandemic has highlighted the importance of minimally invasive surgical techniques, which could potentially drive the adoption of endoluminal suturing devices in the future.
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Major players are majorly focusing on launching and developing new products. In addition, companies are striving to come up with new strategies such as joint ventures, mergers & acquisitions, and joint ventures to expand their footprints across the globe. For instance, in November 2022, Boston Scientific Corporation acquired Apollo Endosurgery, Inc. to expand its endoluminal surgery portfolio.
Boston Scientific Corporation announced it has agreed to acquire Apollo Endosurgery, Inc. This acquisition expands the company’s endoluminal surgery portfolio and adds differentiated technologies for endo-bariatric procedures.
Johnson & Johnson entered into a partnership with Microsoft. In this partnership, Microsoft will serve as the preferred Cloud provider for JJMDC’s digital surgery solutions. The collaboration is expected to allow JJMDC to expand its digital surgery platform and Internet of Things (IoT) device connectivity.
The Food and Drug Administration (FDA) approved USGI Medical Inc’s expansion of a US-pilot study of the Company’s non-invasive, endoscopic procedure, known as POSE 2.0. this POSE 2.0 is designed to evaluate weight loss for adults suffering from obesity with a body mass index (BMI) of 35 to 40 kg/m² and obesity-related comorbidity, such as diabetes or hypertension.
Endo Tools Therapeutics (ETT), developers of advanced endoscopic medical devices introduced the first U.S. commercial cases of the endomina system. The system is designed for the endoscopic placement of suture(s) and approximation of soft tissue in the gastrointestinal tract.
Top Companies Market Share in Endoluminal Suturing Devices Industry: (In no particular order of Rank)
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In 2022, the North America endoluminal suturing devices market held a market share of 41.5%. This growth is attributed to the increasing prevalence of obesity and the growing number of surgical procedures. According to the American Society of Metabolic and Bariatric Surgery, around 256,000 bariatric surgeries were performed in the U.S. in 2019, a 32% increase since 2014. Thus, the increasing number of bariatric surgeries increases the demand for endoluminal suturing devices in this region. Moreover, the presence of well-developed healthcare systems, increasing healthcare expenditure, and rising advances in healthcare technologies are some of the key factors influencing the growth of the endoluminal suturing devices market.
The current report Scope analyzes Endoluminal Suturing Devices Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Endoluminal Suturing Devices Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Endoluminal Suturing Devices Industry growth. Endoluminal Suturing Devices market has been segmented with the help of its , Application End User, and others. Endoluminal Suturing Devices market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Endoluminal Suturing Devices Industry. Request a Free Sample PDF!
Based on the application, the gastrointestinal surgery segment accounted for the largest share in the year 2022 owing to the increasing number of gastrointestinal surgical procedures and the rising prevalence of gastrointestinal complications. According to the National Library of Medicine, a large-scale multinational study based on Internet surveys has shown that more than 40% of people globally suffer from gastrointestinal complications, such as diarrhea, constipation, or irritable bowel syndrome (IBS), with a prevalence of 4.7, 11.7, and 4.1%, respectively.
The Gastroesophageal Reflux Disease (GERD) segment is anticipated witness the fastest growth rate, from 2023 to 2030 owing to the increasing number of diseases and growing technological advancements.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Endoluminal Suturing Devices market report 2024 Edition by contacting our team.
Based on the end-user, the hospital segment held the largest market share in the year 2022 and is projected to remain dominant during the forecast period. The increasing improvement in healthcare infrastructure, increasing patient volume with an increase in chronic disease prevalence, and rising number of bariatric surgeries are some of the key factors supporting the segment growth.
The ambulatory surgical centers segment is anticipated to grow at the fastest rate owing to the technological advancements in surgical devices and the increasing number of minimally invasive surgeries. Moreover, low cost, less waiting time, and a higher nurse-to-patient ratio are some of the benefits offered by ambulatory surgical centers that are contributing to the segment’s growth.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Endoluminal Suturing Devices Market is witnessing significant growth in the near future.
In 2023, the segment accounted for noticeable share of global Endoluminal Suturing Devices Market and is projected to experience significant growth in the near future.
The Bariatric Surgery segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Apollo Endosurgery Inc. , Johnson & Johnson and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Application | Bariatric Surgery, Gastrointestinal Surgery, Gastroesophageal Reflux Disease Surgery, Others |
End User | Hospitals, Clinics, Ambulatory Surgical Centers, Others |
List of Competitors | Apollo Endosurgery Inc., Medtronic Plc (Ireland), Johnson & Johnson, Cook Group Incorporated, USGI Medical, Ovesco Endoscopy AG, Sutrue Ltd., Endo Tools Therapeutics S.A., ErgoSuture, Others |
This chapter will help you gain GLOBAL Market Analysis of Endoluminal Suturing Devices. Further deep in this chapter, you will be able to review Global Endoluminal Suturing Devices Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Endoluminal Suturing Devices Market Trends North America Endoluminal Suturing Devices Technological Road Map North America Endoluminal Suturing Devices Market Drivers North America Endoluminal Suturing Devices Market Restraints North America Endoluminal Suturing Devices Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
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Chapter 10 Market Split by Application Analysis 2019 -2031
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Chapter 11 Market Split by End User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Endoluminal Suturing Devices market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why have a significant impact on Endoluminal Suturing Devices market? |
What are the key factors affecting the and of Endoluminal Suturing Devices Market? |
What is the CAGR/Growth Rate of Bariatric Surgery during the forecast period? |
By type, which segment accounted for largest share of the global Endoluminal Suturing Devices Market? |
Which region is expected to dominate the global Endoluminal Suturing Devices Market within the forecast period? |
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