The global Endoluminal Suturing Devices market size was estimated at USD 80 million in 2021 and is expected to surpass around USD 200 million by 2030 and poised to grow at a compound annual growth rate (CAGR) of 14.0% during the forecast period 2022 to 2030.
Endoluminal suturing devices are used in various minimally invasive surgeries in hollow organs that require utilization of surgical procedures such as stapling and suturing. Growing prevalence of obesity in various developed economies along with rising prevalence of obesity related health conditions is anticipated to foster growth in the global endoluminal suturing devices market over the forecast period of 2022 to 2030. Products offered by the players and manufacturers operating within the global endoluminal suturing devices market are used for various applications, such as bariatric surgeries, gastroesophageal reflux diseases, and gastrointestinal defects.High adoption of mostly sedentary lifestyle as well as patterns of alcohol abuse and unhealthy diets are observed to result in the increasing instances of gastrointestinal defects. This trend is anticipated to aid in the expansion of the global endoluminal suturing devices market in years to come. Furthermore, increasing incidence of various chronic ailments across the globe is also anticipated to fuel the expansion opportunities in the global endoluminal suturing devices market over the forecast period of 2022 to 2030. Major end users for the products in the global endoluminal suturing devices market are ambulatory surgical centers and hospitals.
Report Scope of the Endoluminal Suturing Devices Market
Endoluminal Suturing Devices Market Dynamics
Driver: Increasing number of surgical procedures worldwide
Endoluminal suturing devices are widely used in open surgeries, abdominal surgeries, endoscopy, and other gastrointestinal surgeries. Over the years, the affordability and accessibility to surgical care have increased, leading to a significant rise in the number of surgical procedures performed utilizing suturing devices. The increasing prevalence of lifestyle diseases and the subsequent rise in surgical procedures have further increased the demand for advanced surgical equipment, including suturing devices.
Restraint: Presence of alternative wound care management products
Wound closure devices such as staplers, ligating clips, and wound closure strips and sealing agents, skin adhesives, and hemostats are prominent alternatives associated with certain advantages to surgical sutures. For instance, stapling is quicker than suturing. Due to their efficiency and benefits over surgical sutures, the availability of alternatives is a key restraint for the endoluminal suturing devices market.
Opportunity: High growth opportunities in emerging markets
Emerging countries (such as China, Brazil, Mexico, and India) present significant growth opportunities for players in the endoluminal suturing devices market. The demand for endoluminal suturing devices in these countries is increasing owing to the rapid growth in the healthcare infrastructure, increasing public and private healthcare expenditure, and growth in medical tourism. Additionally, the rising number of skilled surgeons and a sharp rise in gastrointestinal surgical procedures across these countries contribute to overall demand growth. Other emerging countries are also witnessing rapid modernization in their healthcare facilities and the expansion of their healthcare infrastructure. This factor contributes to the increasing procurement of medical devices and surgical instruments.
Rising medical tourism in the emerging countries, due to the low cost of surgical treatment options, also presents new growth avenues for endoluminal suturing device providers.
Challenge: Shortage of skilled personnel
Skilled surgeons and physicians are required for the effective use of suturing devices during endoluminal surgeries. Improper use of these products can lead to complications in patients. Currently, the lack of skilled surgeons in developed and developing economies is one of the major factors limiting the adoption of endoluminal suturing devices. While the demand for surgeons is steadily increasing, the supply of future surgeons is not rising at the same rate. Therefore, this shortage will likely reduce the number of surgeries performed annually, negatively impacting the adoption of endoluminal suturing devices.
The gastrointestinal surgery segment accounted for the largest share of the endoluminal suturing devices market, by application
Based on application, the endoluminal suturing devices market is segmented into bariatric surgery, gastrointestinal surgery, gastroesophageal reflux disease surgery, and other surgeries. The largest share of the gastrointestinal surgery segment can be attributed to the growing adoption of endoluminal suturing devices for the growing number of gastrointestinal cancer cases worldwide and the increasing prevalence of gastrointestinal disorders.
The hospitals segment accounted for the largest share of the endoluminal suturing devices market, by end user in 2021
Based on end user, the endoluminal suturing devices market is segmented into hospitals, clinics, ambulatory surgery centers, and other end users. The large share of the hospitals segment can be attributed to the growing number of hospitals worldwide and increasing number of surgical procedures globally.
North America accounted for the largest share of the endoluminal suturing devices market in 2021
In 2021, North America accounted for the largest share of the endoluminal suturing devices market. Market growth in this region is characterized by the presence of a well-developed healthcare system, increasing volume of surgical procedures, the growing number of surgical procedures across ASCs, and the presence of leading market players in the region.
Some of the prominent players in the Endoluminal Suturing Devices Market include: Apollo Endosurgery, Inc. (US), Johnson & Johnson (US), Medtronic Plc (Ireland), Cook Group Incorporated (US), USGI Medical (US), Ovesco Endoscopy AG (Germany), Endo Tools Therapeutics S.A. (Belgium), ErgoSuture (US), and Sutrue Ltd. (UK).
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Endoluminal Suturing Devices market
Endoluminal Suturing Devices Market, By Application
- Bariatric Surgery
- Gastrointestinal Surgery
- Gastroesophageal Reflux Disease Surgery
- Other Surgeries
Endoluminal Suturing Devices Market, By End User
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Other End Users
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Key Points Covered in Endoluminal Suturing Devices Market Study:
- Growth of Endoluminal Suturing Devices in 2022
- Market Estimates and Forecasts (2017-2030)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Endoluminal Suturing Devices and How to Navigate
- Key Product Innovations and Regulatory Climate
- Endoluminal Suturing Devices Consumption Analysis
- Endoluminal Suturing Devices Production Analysis
- Endoluminal Suturing Devices and Management
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