Endoluminal Suturing Devices Market Trend, Share, Growth, Size, Analysis and Forecast 2030

Industry Perspective:

The global Endoluminal Suturing Devices market was worth around USD 45.10 million in 2021 and is estimated to grow to about USD 88.06 million by 2028, with a compound annual growth rate (CAGR) of approximately 11.80 percent over the forecast period. The report analyzes the Endoluminal Suturing Devices market’s drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the Endoluminal Suturing Devices market.

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Endoluminal Suturing Devices Market: Overview

Endoscopic suturing devices have shown significant growth in the market demand and are estimated to grow tremendously during the forecast period. A growing number of bariatric surgeries are expected to positively impact the advancement of endoluminal suturing product demand. Industry leaders have been developing novel technologies to meet increasing customer wants and increase their market status, which is likely to propel market development during the forecast period. Doctors use an endoscopic suture device to put full-thickness sutures through a flexible endoscope during advanced endoscopic surgery. This tissue endoscope allows for continuous market expansion. The increased frequency of gastrointestinal abnormalities is due to the development of lifestyle choices, as well as an inappropriate diet and liquor consumption, which will fuel the market growth during the forecast period. Besides, lack of knowledge about the advancement in the technology and skills of the professionals are factors responsible for the growth in the market during the forecast period.

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COVID-19 Impact:

The COVID-19 outbreak negatively impact the growth of the market during the forecast period. The lack of a remedy, the growing number of persons infected with COVID, and the unpredictability about when the crisis will end are far worse than in prior outbreaks. The epidemic has caused region shutdown, border restrictions, and transportation infrastructure breakdowns. Manufacturers are figuring out how to recover from the current circumstances by reorganizing their sales channels and new product introduction.

Key Insights

• As per the analysis shared by our research analyst, the global endoluminal suturing devices market is estimated to grow annually at a CAGR of around 11.80% over the forecast period (2022-2028).
•  In terms of revenue, the global endoluminal suturing devices market size was valued at around USD 45.10 million in 2021 and is projected to reach USD 88.06 million, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Endoscopic suturing equipment for minimally invasive surgery are expected to expand in popularity due to high demand.
• Endoluminal suturing device business growth has been hindered by stringent regulations linked with bariatric and biochemical operations (BMS).
• By applications, the gastrointestinal surgery segment accounted for the largest share in the market in 2021.
• The hospital care segment is likely to grow faster during the forecast period.
• North American endoluminal suturing devices market was accounted to grow at the highest share in 2021

Endoluminal Suturing Devices Market: Growth Drivers

Increasing cases of chronic diseases will boost the demand

The rise in chronic diseases because of a lifestyle has opened the market for endoluminal suturing. Furthermore, increased rates of several chronic illnesses in the aging population would enhance the market demand for endoluminal suturing devices. Endoscopic suturing equipment for minimally invasive surgery is expected to expand in popularity due to high demand.

Endoluminal Suturing Devices Market: Restraints

The rising cost of devices may hamper the global market growth

The high cost of devices, as well as the additional costs associated with professional maintenance training, are anticipated to limit the market growth. As a result, these realities may constrain the expansion of the global endoluminal suturing devices market.

Endoluminal Suturing Devices Market: Opportunities

An increasing number of bariatric surgeries is expected to bring up several growth opportunities

The emerging demand for minimally invasive (MI) bariatric treatments and devices, which reduce the necessity for significant surgeries and result in minimal postoperative stress, will also contribute to the market expansion in the upcoming years. The growing public awareness of health issues, as well as the deployment of robotic technology, are expected to boost the market growth. There has been a substantial growth in the number of cases of weight-related disorders, which is increasing the demand for bariatric surgery.

Endoluminal Suturing Devices Market: Segmentation

The global endoluminal suturing devices market is segregated based on type, end-use, and region.

By type, the market is classified into bariatric surgery, gastrointestinal surgery, and gastroesophageal reflux disease surgery. Over the forecast period, the gastrointestinal endoluminal suturing devices market is expected to develop at the fastest rate because of the rising prevalence of chronic disease and the increasing frequency of bariatric procedures Furthermore, increased patient pool and improved healthcare infrastructure are supporting the growth of the market for endoluminal suturing devices.

By end-use, the market is classified into hospitals, ambulatory surgical centers, and others. The hospital segment will dominate the market during the forecast period. The increasing incidence of gastrointestinal ailments and the availability of numerous GI applications such as abdomen-related illnesses will drive the profitability of the sector and fuel the demand for endoluminal suturing devices.

Recent Developments

• June 2021, Ethicon, a Johnson & Johnson subsidiary, and a leading company in flexible endoluminal robotics and soft tissue microwave ablation, announced the new medical technologies guidelines issued by the National Institute for Health and Care Excellence (NICE) had recommended the use of its Plus Sutures.
• In December 2020, Apollo Endo-surgery, Inc. announced the sale of its surgical product line laparoscopic bariatric surgery to Reshape Lifesciences. This will boost Apollo's Endo-bariatric product offerings.

Endoluminal Suturing Devices Market: Regional Landscape

Rising population likely to help North America dominate the global market

North America dominates the global endoluminal suturing devices market because of improved healthcare infrastructure and a huge population susceptible to numerous chronic conditions. Factors such as the presence of significant companies and developed healthcare infrastructure are some of the primary factors responsible for the market's significant share upcoming years.

Also, the increased incidence of operations, injuries, and mental disorders, as well as occupational injuries, are expected to drive the demand. Active lifestyles are also likely to drive market expansion during the forecast period. Rising economies and more medical tourism will also support the market growth over the upcoming years.

Endoluminal Suturing Devices Market: Competitive Landscape

Some of the main competitors dominating the global endoluminal suturing devices market include - Apollo Endo-surgery, Inc.; Ethicon Endo-Surgery (Johnson and Johnson); Medtronic Plc.

The global endoluminal suturing devices market is segmented as follows:

By Type

• Bariatric Surgery
• Gastrointestinal Surgery
• Gastroesophageal Reflux Disease Surgery
• Others

By End-Use Outlook

• Hospitals
• Ambulatory Surgical Centers
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa