The global endoluminal suturing devices market size reached USD 73.5 Million in 2021 and is expected to register a revenue CAGR of 11.4% during the forecast period, according to latest analysis by Emergen Research. Increase in chronic diseases is driving market revenue growth. Consumer interest in endoluminal suturing device products will increase owing to the rising prevalence of gastrointestinal disorders. Functional Gastrointestinal Disorder (FGID) is a chronic condition that causes severe symptoms like acid reflux, dyspepsia, heartburn, chronic constipation, irritable bowel symptoms, bloating, and abdominal distention. These signs and symptoms could appear at any point in the disease's progression. In addition, the prevalence of gastrointestinal disorders is rising globally, which will help the market for endoluminal suturing devices grow even more.
Introduction of technically advanced suturing devices is another key factor contributing to the market revenue growth. For instance, in July 2022, the Food and Drug Administration (FDA)'s De Novo Classification process, a rigorous pre-market review pathway for low-to moderate-risk devices without a predicate, approved the marketing of the Apollo ESGTM, Apollo ESG SxTM, Apollo REVISETM, and Apollo REVISE SxTM Systems. Apollo Endosurgery, Inc. is a global leader in minimally invasive medical devices for gastrointestinal and bariatric procedures. These are the first and only devices approved by the FDA for use during Endoscopic Sleeve Gastroplasty (ESG) and endoscopic bariatric revision. For the treatment of obese patients, the Apollo ESG and Apollo REVISE systems offer a desirable blend of effectiveness, safety, robustness, and ease.
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Key participants include Johnson & Johnson Services, Inc., Apollo Endosurgery, Inc., Medtronic, USGI Medical, Inc., Cook Group, Ovesco Endoscopy AG, Endo Tools Therapeutics S.A., Stryker Corporation, B. Braun SE, and ErgoSuture.
Endoluminal Suturing Devices Market research report depicts the latest market scenario with updated trends and segmentation of the products and services. The study provides crucial information on the market situation, size, share, growth factors of the Joint Reconstruction Devices
Radical Highlights of the Endoluminal Suturing Devices Market Report:
Comprehensive overview of the Endoluminal Suturing Devices market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and RD advancements on the Endoluminal Suturing Devices market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
By type, the ankle type accounted for a revenue of USD 5.69 billion in 2019 in the Endoluminal Suturing Devices market and is likely to rise with a CAGR of 6.7% in the forecast period as they are designed to provide patients with faster and longer-term relief, conducted through arthroscopy.
By technique, the arthroscopy technique is expected to grow with a CAGR of 6.1% in the forecasted period as many of these procedures are conducted under local anesthetics, reducing the overall procedure rate directly related to the rising incidence of the disorders correlated with the joint.
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Emergen Research has segmented the global endoluminal suturing devices market on the basis of application, end-use, and region:
- Application Outlook (Revenue, USD Million; 2019-2030)
- Bariatric Surgery
- Gastrointestinal Surgery
- Gastroesophageal Reflux Disease Surgery
- End-Use Outlook (Revenue, USD Million; 2019-2030)
- Hospitals and clinics
- Ambulatory Surgical Centers
- Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
Highlights of the Endoluminal Suturing Devices Market Report:
- The gastrointestinal surgery segment accounted for a significant revenue share in 2021. The prevalence of various gastrointestinal diseases, including gastrointestinal defects and functional gastrointestinal disorders, is increasing, thereby raising the demand for suturing devices. 60% of Americans tend to be associated with digestive disorders. This disease affects several organs, including the pancreas, liver, biliary system, oropharynx, and alimentary canal.
- The hospitals and clinics segment accounted for a significant revenue share in 2021. The key advantage is that the use of these devices allows for minimally intrusive therapeutic procedures. Clinical trials and medicines have historically advanced at a slower rate than in recent years owing to substantial breakthroughs. Endoluminal suturing devices, which use flexible sutures to place thick sutures in the intended location, are frequently utilized by doctors during endoscopic treatments. A flexible, small, specialized suturing tool used in endoscopic surgery.
- Market in North America accounted for the largest revenue share in 2021. Significant investments in healthcare facilities are a key factor driving market revenue growth. In addition, the increasingly high incidence of chronic diseases such as diabetes and obesity is contributing to the market revenue growth in this region. In addition, several key players operating in the region are also contributing to the market revenue growth. On July 2021, Ethicon, a subsidiary of Johnson & Johnson Medical Devices Companies, announced that its state-of-the-art and fully functional surgical lab on wheels will visit hospitals in 70 cities across the United States, providing surgeons and other healthcare professionals with hands-on learning experiences and demonstrations with the latest technologies for colorectal, bariatric, gynecological, and thoracic procedures.
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