At 11.80% CAGR, Global Endoluminal Suturing Devices Market Size & Share Will Hit US$ 88.06 Million by 2028 | Industry Trends, Demand, Growth, Value, Analysis & Forecast Report by Zion Market Research

NEW YORK, July 27, 2022 /PRNewswire/ -- As per Zion Market Research study, 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.

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 the 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 a 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 professional are factors responsible for the growth in the market during the forecast period.

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Key Industry Insights & Findings of the Endoluminal Suturing Devices Market Reports:

• As per the analysis shared by our research analyst, the Endoluminal Suturing Devices Market is expected to grow annually at a CAGR of around 11.80 % (2022-2028).
• Through the primary research, it was established that the Endoluminal Suturing Devices Market was valued at approximately USD 45.10 Million in 2021 and is projected to reach roughly USD 88.06 Million by 2028.
• 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.
• Increased incidence of operations, injuries, and mental disorder, 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.

Zion Market Research published the latest report titled "Endoluminal Suturing Devices Market Type (Bariatric Surgery, Gastrointestinal Surgery, Gastroesophageal Reflux Disease Surgery), By End-Use (Hospitals, Ambulatory Surgical Centers) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028." into their research database.

Industry Dynamics:

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 are expected to expand in popularity due to high demand.

Endoluminal Suturing Devices Market: Restraints

• 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 market growth. As a result, these realities may constrain the expansion of the global endoluminal suturing devices market. 

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Endoluminal Suturing Devices Market: Opportunities

• 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 necessity for significant surgeries and result in minimal postoperative stress, will also contributed to the market expansion 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 with weight-related disorders, which is increasing the demand for bariatric surgery.

Global 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, 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 hospitals 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.

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List of Key Players in Endoluminal Suturing Devices Market:

• Apollo Endo-surgery, Inc.
• Ethicon Endo-Surgery (Johnson and Johnson)
• Medtronic Plc.

Key questions answered in this report:

• What are the growth rate forecast and market size for Endoluminal Suturing Devices Market?
• What are the key driving factors propelling the Endoluminal Suturing Devices Market forward?
• What are the most important companies in the Endoluminal Suturing Devices Market Industry?
• What segments does the Endoluminal Suturing Devices Market cover?
• How can I receive a free copy of the Endoluminal Suturing Devices Market sample report and company profiles?

Report Scope:

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Recent Developments

• June 2021, Ethicon, a Johnson & Johnson subsidiary, and a leading company in flexible endoluminal robotics and soft tissue microwave ablation, announced that 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.

Regional Dominance:

• 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 disorder, 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.

Global Endoluminal Suturing Devices Market is segmented as follows:

Endoluminal Suturing Devices Market: By Type Outlook (2022-2028)

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

Endoluminal Suturing Devices Market: By End-Use Outlook (2022-2028)

• Hospitals
• Ambulatory Surgical Centers
• Others

Endoluminal Suturing Devices Market: By Region Outlook (2022-2028)

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

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