The global endoscopic closure systems market is anticipated to be worth USD 309.2 million in 2023, with a CAGR of 6.3%, to reach USD 570.2 million between 2023 and 2033. From 2018 to 2022, the endoscopic closure systems business expanded at a CAGR of 4.1%.
Some gastrointestinal (GI) conditions, such as inflammation, surgical anastomoses, neoplastic fistulae, etc., need non-surgical closure. Endoscopic closure systems are used to close such small GI perforations. Closure is also required after natural orifice transluminal endoscopic surgery.
Several endoscopic closure systems are developed and practiced to allow the closure of these GI wall defects. According to the American Society for Gastrointestinal Endoscopy, ideal endoscopic closure systems should be non-expensive, safe, easy to use, and provide fast, reliable, durable, and robust closure.
The endoscopic closure systems industry has evolved. Endoscopic clips or endoclips were the first technology developed for endoscopic closure systems. Over-the-scope clips, an effective endoscopic closure system than standard endoclips were first approved for human use in Europe in 2009 and then in the United States in 2010.
An endoscopic suturing system was then developed that allows the placement of running or interrupted full-thickness sutures. This device was designed based on the Eagle Claw device. However, the device was complex and compatible with only one endoscope.
The introduction of endoscopic suturing systems is expected to revolutionize the endoscopic closure systems market due to its advantages over previously available devices.
| Attribute | Endoscopic Closure Systems Industry (From 2018 to 2022) |
|---|---|
| CAGR | 4.1% |
| Market Size - 2018 | USD 250.88 million |
| Market Size - 2022 | USD 294.4 million |
| Attribute | Endoscopic Closure Systems Industry (From 2023 to 2033) |
|---|---|
| CAGR | 6.3% |
| Market Size - 2023 | USD 309.2 million |
| Market Size - 2033 | USD 570.2 million |
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From 2018 to 2022, the endoscopic closure systems market expanded steadily, owing to technical improvements, increased gastrointestinal illnesses, and increased demand for minimally invasive procedures. During this time, key players launched new goods and extended their global footprint through strategic alliances and acquisitions.
The market is primed for a transformative leap as we enter the booming era of 2023 to 2033. The use of modern robots, artificial intelligence, and nanotechnology is set to transform endoscopic closure techniques, improving precision and patient outcomes.
Market growth may be driven by the growing old population and increased awareness of endoscopic procedures. Further, regulatory support and investment in healthcare infrastructure may be critical in pushing market expansion, providing numerous opportunities to succeed in a dynamic and competitive field.
Rising Prevalence of Endoscopic Procedures to Accelerate Market Growth
The increasing need and interest in developing dedicated devices and techniques that enable the endoscopic closure of small GI perforations and the rising adoption of minimally invasive endoscopic procedures are the primary factors surging the market growth of endoscopic closure systems.
Several endoscopic closure systems are developed and tested in animal models. For example, Bio-absorbable plugs designed by W.L. Gore and Associates, Mucosal clips developed by Boston Scientific Inc., and End loops under development by Olympus Corporation, among others.
The rising prevalence of gastrointestinal and stomach cancer is expected to impact the endoscopic closure systems market significantly. Also, the market is to expand due to the growing elderly population substantially.
Endoscopic surgery is gaining traction as it uses advanced technology to reach internal organs with the help of small incisions, resulting in less pain and quick recovery compared to traditional surgery methods. These factors are likely to compel the demand for endoscopic closure systems.
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Lack of Skilled Professionals for Endoscopic Closure System Restraining Market Growth
Multiple obstacles are likely to challenge market growth although the endoscopic closure systems industry has numerous end-uses. Further, market expansion for endoscopic closure systems is being hampered by a need for skilled professionals with expertise in operating endoscopic procedures.
The endoscopic closure systems industry may be hindered by high costs, the risk of infection, and stringent rules and regulations imposed by numerous government organizations.
| Category | Product |
|---|---|
| Leading Segment | Endoscopic Vacuum-Assisted Closure Systems |
| Market Share | 25.4% |
| Category | End User |
|---|---|
| Leading Segment | Hospitals |
| Market Share | 67.3% |
Endoscopic vacuum-assisted closure systems have seen a rise in sales due to their ability to effectively manage and treat various gastrointestinal (GI) conditions and complications. Further, these systems offer a minimally invasive approach to address leaks, fistulas, perforations, and abscesses within the GI tract.
The popularity of these systems stems from their versatility, ease of use, and potential to reduce hospital stays and healthcare costs. With its innovative vacuum technology, these systems can facilitate wound healing by promoting tissue granulation and accelerating recovery.
The demand for endoscopic vacuum-assisted closure systems has surged as healthcare providers and patients seek less invasive and efficient treatment options compelling their leading position in the endoscopic closure systems market.
Hospitals lead the sales in the endoscopic closure systems market due to several key factors. The hospitals tend to handle a high volume of endoscopic procedures, providing great demand for closure systems.
Hospitals typically have a broad range of specialized medical services, attracting many patients requiring endoscopic interventions. They possess well-established purchasing power and resources, allowing them to invest in advanced, high-quality closure systems.
Hospitals often serve as referral centers, making them a preferred choice for complex cases. These factors combined contribute to hospitals' dominant position in propelling sales of endoscopic closure systems within the healthcare industry.
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| Regions | Market CAGR (From 2023 to 2033) |
|---|---|
| Australia | 5.6% |
| China | 7.7% |
| India | 6.3% |
| The United Kingdom | 4.4% |
Technological Advancement in Healthcare to Boost the Market Growth in North America
As per FMI, North America’s endoscopic closure systems market is slated to account for 34.5% of the total market share. North America dominates the global endoscopic closure systems industry. Over-the-scope clips and overstitch systems are currently used in the United States.
Investments in technologically enhanced research and treatment platforms, rising incidence of cancers and GI tract disorders, and the presence of many endoscopic clip manufacturers in the region are projected to be key growth drivers in the endoscopic closure system business.
The endoscopic closure systems industry in the United States is developing due to the increasing use of advanced diagnostic methods in gastrointestinal (GI) conditions such as inflammation, surgical anastomoses, and neoplastic fistulae, as well as the presence of key market players.
| Region | Market Share - 2023 |
|---|---|
| North America | 34.5% |
| Europe | 26.4% |
The Growing Healthcare System in Propels the Market Growth of Endoscopic Closure System
By 2023, Europe is likely to capture a share of 26.4% of the endoscopic closure systems market. Increasing government expenditure in the healthcare sector is to boost endoscopic closure system sales.
The market growth for endoscopic closure systems is due to the rise in arterial bleeding among cardiac patients and GI-related surgeries, which holds a significant market share due to a huge patient population.
The rising number of these ambulatory centers and the increasing number of endoscopic ultrasound procedures conducted in ambulatory surgical centers in the region provide the opportunity for the market growth of endoscopic closure systems.
| Region | Market Share - 2023 |
|---|---|
| The United States | 30.1% |
| Germany | 4.8% |
| Japan | 4.4% |
Growing Demand for High-Quality Treatment to Boost the Endoscopic Closure Systems Market Growth.
The Asia Pacific is anticipated to exhibit a significant growth rate in the endoscopic closure systems industry over the forecast period owing to the rising health awareness, growing prevalence of GI tract diseases, and increase in the geriatric population.
An increase in demand for high-quality treatment, the popularity of endoscopy devices, and technological advancements compel the market growth further. Moreover, a surge in healthcare expenditure and favorable reimbursement policies boost the market growth in the Asia Pacific.
The rise in investment by government organizations in the healthcare sector accelerates the market growth for endoscopic closure systems. Also, the market in China is projected to rise, attributed to the widespread adoption of endoscopy and increasing demand for minimally invasive procedures.
To promote the endoscopic closure systems industry effectively, manufacturers can utilize the following marketing tactics.
| Attributes | Details |
|---|---|
| Educational Webinars and Workshops | Organize webinars and workshops to educate healthcare professionals about endoscopic closure systems' benefits and proper usage. Highlight case studies and success stories to showcase the positive impact on patient outcomes. |
| Key Opinion Leader (KOL) Collaboration | Partner with influential doctors, surgeons, and healthcare professionals as KOLs to endorse and advocate for your endoscopic closure systems. Their credibility and expertise can significantly boost product credibility and reach. |
| Product Demonstrations and Samples | Offer hands-on product demonstrations and provide samples to hospitals and clinics. This allows surgeons and physicians to experience the closure systems' ease of use and effectiveness firsthand. |
| Targeted Digital Marketing | To target specific healthcare professionals and institutions, use digital marketing strategies such as search engine optimization (SEO), pay-per-click (PPC) advertising, and social media marketing. Tailor the messaging to address their pain points and emphasize the advantages of the endoscopic closure systems. |
| Collaborative Research and Publications | Foster collaborations with research institutions and medical journals to conduct studies and publish research papers highlighting the effectiveness and advantages of endoscopic closure systems. Peer-reviewed publications add credibility and attract attention from the medical community. |
Manufacturers can effectively expand cognition, build trust, and thrust the adoption of endoscopic closure systems in the medical community by employing these marketing tactics, eventually ushering in advanced market growth and success.
The new entrants in the endoscopic closure systems market continually indulge in several collaborations and highly invest in research and development activities to provide convenient solutions to the healthcare industry verticals.
Some of the key startups leading the market's development are Mediwyn Life Sciences, Northern Surgical Company, Devesh Meditech, iData Research, and KADEN.
Some of the key participants present in the global endoscopic closure systems market include CooperSurgical Inc., USA Endoscopy, Life Partners Europe, Ovesco Endoscopy AG, Apollo Endosurgery, Inc., St. Jude Medical, Inc. (Abbott), etc., among others.
The market is highly competitive due to the presence of several key participants. While global players such as CooperSurgical Inc., USA Endoscopy, Life Partners Europe, and Ovesco Endoscopy AG account for a considerable market size. Many regional-level players operate across key growth regions, particularly in Asia.
| Company | Apollo Endosurgery, Inc. |
|---|---|
| Date | July 2022 |
| Details | Apollo Endosurgery, Inc., a global leader in minimally invasive medical devices for gastrointestinal and bariatric procedures, announced the electronic publication of the landmark Multi-center ESG Randomized Interventional Trial (MERIT) Study in The Lancet. |
| Company | CooperCompanies |
|---|---|
| Date | February 2022 |
| Details | CooperCompanies announced that it had signed a binding letter of intent to acquire Cook Medical’s Reproductive Health business, a manufacturer of minimally invasive medical devices. |
| Company | STERIS plc |
|---|---|
| Date | June 2021 |
| Details | STERIS plc announced the acquisition of Cantel Medical, a global provider of infection prevention products and services to endoscopy, dental, dialysis, and life sciences Customers. |
Key market players are CooperSurgical Inc., USA Endoscopy, and Life Partners Europe.
The market is estimated to reach USD 309.2 million by 2023.
The market is forecast to register a CAGR of 6.3% through 2033.
North America is expected to witness a substantial growth.
The United States holds 30.1% of the global market share in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Endoscopic clips/Endoclips (Over-the-scope Clips) 5.2. Overstitch endoscopic suturing system 5.3. Cardiac septal defect occluders 5.4. Endoscopic vacuum-assisted closure systems 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-user 6.1. for Hospitals 6.2. for Ambulatory Surgical Centers 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. CooperSurgical Inc. 17.2. USA Endoscopy 17.3. Life Partners Europe 17.4. Ovesco Endoscopy AG 17.5. Apollo Endosurgery, Inc. 17.6. St. Jude Medical, Inc. (Abbott) 17.7. Steris 17.8. Boston Scientific Corporation 17.9. Abbott 17.10. Others 18. Assumptions & Acronyms Used 19. Research Methodology
Healthcare
October 2024
REP-GB-9658
324 pages
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Endoscopic Closure Systems Market
