The global endoluminal suturing devices market was valued at USD 83.8 Million in 2022 and is expected to reach USD 295.4 Million by 2033. The endoscopic suturing devices with around 49.4% in terms of value share, has topped the global market within the product category in 2022 and is expected to grow at a CAGR of close to 12.4% over the forecast period (2023 to 2033)
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2022 | USD 83.8 Million |
| Market Value 2023 | USD 94.9 Million |
| Market Value 2033 | USD 295.4 Million |
| CAGR 2023 to 2033 | 12.0% |
| Market Share of Top 5 Countries | 52.3% |
The rising incidence of chronic diseases such as cardiovascular disorders, obesity, and gastrointestinal conditions is driving the demand for endoluminal suturing devices. These devices are commonly used in the treatment of conditions such as gastric bypass, hernia repair, and gastrointestinal leaks.
There is a global trend towards minimally invasive surgeries due to their benefits, such as smaller incisions, reduced scarring, and faster recovery. Endoluminal suturing devices enable surgeons to perform complex procedures through small incisions, thereby contributing to the market growth.
Adequate training and education for healthcare professionals on the use of endoluminal suturing devices are essential for their effective and safe utilization. Manufacturers are investing in training programs, workshops, and educational initiatives to ensure proper adoption and maximize the benefits of these devices.
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The global market for endoluminal suturing devices was around 36.8% of the overall USD 227.6 Million of the global suturing devices market in 2022.
Advances in endoluminal suturing devices have improved their accuracy, manoeuvrability, and ease of use. Innovative features, such as real-time imaging and better suturing capabilities, have made these devices more efficient and reliable. Surgeons and healthcare providers are increasingly adopting these advanced devices, contributing to market growth.
Reimbursement policies and insurance coverage for endoluminal suturing procedures vary across different regions. However, favorable reimbursement policies can incentivize healthcare providers to adopt these devices and perform more endoluminal suturing procedures.
Endoluminal suturing devices play a crucial role in enabling minimally invasive procedures by allowing surgeons to suture internally without the need for large incisions. The growing preference for these procedures has boosted the demand for endoluminal suturing devices.
Owed to the above factors, the global market is projected to grow at CAGR of 12.0% in forecasted period.
Endoluminal suturing devices are primarily used in gastrointestinal and cardiovascular procedures. However, there may be opportunities to expand their applications to other surgical areas, such as urology, gynecology, and general surgery. The development of specialized suturing devices for these areas can open up new markets and increase the overall demand for endoluminal suturing devices.
Collaboration between medical device manufacturers and healthcare providers can drive innovation and market penetration. Collaborative efforts can lead to the development of customized endoluminal suturing devices that cater to specific surgical needs. Partnerships with distribution channels also facilitate market access, allowing manufacturers to reach a wider customer base.
There is a constant drive for technological advancements in endoluminal suturing devices. Opportunities exist for the development of devices with improved suturing accuracy, enhanced visualization capabilities, and better ergonomics. Advancements in robotic-assisted suturing technology are likely to open new avenues for growth in the market.
The adoption of endoluminal suturing devices in emerging markets presents significant opportunities. These regions often have a growing patient population and an increasing demand for advanced medical technologies. As healthcare infrastructure improves and economic conditions develop, the market for endoluminal suturing devices in these regions is likely to expand.
Endoluminal suturing devices can be expensive, including the initial purchase cost and ongoing maintenance expenses. High cost associated with acquisition and maintenance of these devices can affect their adoption, especially in regions with budget constraints or healthcare systems focused on cost containment. Affordability remains a significant restraint for market growth.
The availability and extent of reimbursement coverage for endoluminal suturing procedures may vary across different regions and healthcare systems. Limited or inadequate reimbursement can affect the adoption of these devices, as healthcare providers may be reluctant to perform procedures without adequate financial compensation. Uncertain reimbursement policies can create challenges for market growth.
Medical devices, including endoluminal suturing devices, are subject to stringent regulatory requirements and approvals. Obtaining regulatory clearance or approval for new devices or product modifications can be a time-consuming and costly process. Compliance with regulations, such as obtaining the necessary certifications, can present challenges to manufacturers, potentially impacting market growth.
The USA occupies 27.0% of market share in 2022 globally. The demand for minimally invasive surgeries is substantial in the United States. Endoluminal suturing devices play a crucial role in enabling these procedures, as they allow surgeons to perform suturing internally through smaller incisions. The increasing adoption of minimally invasive procedures drives the demand for endoluminal suturing devices.
This makes USA prominent market for endoluminal suturing devices in North America.
Japan is the second leading country within East Asia. The market for endoluminal suturing devices in Japan is set to grow at a high CAGR of 13.8% over the forecast period.
Japan is at the forefront of technological advancements in the healthcare industry. The country has a strong focus on research and development, leading to the development of innovative endoluminal suturing devices with advanced features. Japanese companies often introduce cutting-edge technologies and techniques in the field of minimally invasive surgeries, including endoluminal suturing. The availability of favourable reimbursement schemes and the inclusion of endoluminal suturing procedures in insurance coverage influence the adoption and utilization of these devices.
In 2022, the China held a significant share in the East Asia market and contributed around USD 5.7 Million. The regulatory environment in China has been evolving, with efforts to streamline approval processes and enhance product quality control. The regulation of medical devices in China is overseen by the National Medical Products Administration (NMPA). Manufacturers of endoluminal suturing devices must comply with NMPA regulations to obtain market approval and ensure the safety and efficacy of their products.
Endoluminal suturing devices are used in various clinical applications in China, including gastrointestinal surgeries, cardiovascular procedures, urology, gynecology, and general surgeries. The market encompasses a wide range of surgical specialties where these devices are employed.
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By product, endoscopic suturing devices held 49.4% market share in world in 2022.
Endoscopic suturing devices are widely used in gastrointestinal procedures such as closure of gastrointestinal perforations, management of gastrointestinal leaks, closure of post-operative gastric defects, and closure of iatrogenic or traumatic gastrointestinal injuries. Endoscopic Mucosal Resection (EMR) is a technique used to remove abnormal or precancerous tissue from the gastrointestinal tract. Endoscopic suturing devices are used to close the defect or incision created during EMR procedure to prevent complications such as bleeding or perforation.
The market value of gastrointestinal procedures is USD 36.0 Million, representing a sizable 43.0% market share in 2022. Gastrointestinal perforations can occur due to various reasons, such as ulcers, trauma, or surgical complications. Endoluminal suturing devices are utilized to close these perforations, preventing leakage of gastric contents into the abdominal cavity. The availability of effective endoluminal suturing devices has improved the management of gastrointestinal perforations.
After gastrointestinal surgeries, leaks can occur at the anastomosis site or surgical incisions. Endoluminal suturing devices enable surgeons to close these leaks endoscopically, avoiding the need for additional invasive surgeries. The ability to address gastrointestinal leaks with endoscopic suturing devices has significantly improved patient outcomes and reduced the need for open reoperations.
The hospitals have a considerable presence in the endoscopic suturing devices market, accounting for 43.4% value share in 2022, and exhibiting a high CAGR of 11.6% over the forecast period. Hospitals are prominent users of endoluminal suturing devices. These devices are commonly used in various surgical procedures performed within hospital settings, including gastrointestinal surgeries, cardiovascular procedures, bariatric surgeries, among others. As hospitals strive to provide advanced medical care and meet patient needs, the demand for endoluminal suturing devices is growing.
Endoluminal suturing devices contribute to improve patient outcomes in hospitals. These devices enable surgeons to perform precise suturing, leading to better wound closure, reduced postoperative complications, and shorter hospital stays.
With several players manufacturing endoluminal suturing devices, market has become highly competitive. To gain market share and edge over others, players are undertaking initiatives like acquisition of competitor firms and collaboration with healthcare institutes to develop innovative product lines
Similarly, recent developments related to the companies manufacturing the endoluminal suturing devices have been tracked by the team at Future Market Insights, which are available in the full report.
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value, Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East and Africa (MEA) |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Germany, Italy, France, UK, Spain, BENELUX, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Malaysia, Australia, New Zealand, GCC countries, Türkiye, Northern Africa and South Africa. |
| Key Market Segments Covered | Product, Application, End User, and Region |
| Key Companies Profiled | Medtronic Plc.; B Braun Melsungen; Intuitive Medical; Johnson & Johnson (Ethicon); Richard Wolf GmbH; Karl Storz GmbH; Olympus Corporation; Teleflex Corporation; Terumo Corporation; Boston Scientific; Apollo Endosurgery; Cook Medical; Cardinal Health |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Pricing | Available upon Request |
The market is valued at USD 94.9 million in 2023.
The market’s CAGR from 2023 to 2033 will be 12.0%.
Medtronic Plc., and B Braun Melsungen are the vital market players.
Technological advancements to boost the market prospects.
The endoscopic suturing devices segment is likely to remain preferred through 2033.
| Estimated Size, 2024 | USD 625.0 million |
|---|---|
| Projected Size, 2034 | USD 1,008.3 million |
| Value-based CAGR (2024 to 2034) | 4.9% |
| Market Value for 2024 | USD 4,751.7 million |
|---|---|
| Projected Market Value for 2034 | USD 7,170.1 million |
| Value-based CAGR (2024 to 2034) | 4.20% |
| Market CAGR (2023 to 2033) | 7.4% |
|---|---|
| Market Valuation (2023) | USD 3.2 billion |
| Market Valuation (2033) | USD 6.5 billion |
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Endoluminal Suturing Device Market
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