Market Definition
Endoluminal suturing devices are devices that are used to close incisions or wounds in the lining of the gastrointestinal tract. These devices are inserted through the mouth or rectum and are used to close incisions in the stomach, small intestine, or large intestine. Endoluminal suturing devices are made of a variety of materials, including stainless steel, titanium, and polypropylene.
Market Outlook
The global endoluminal suturing devices market was valued at USD 78.0 million in 2022 and it is anticipated to grow further to USD 239.5 million by 2032, at a CAGR of 11.9% during the forecast period.
The key drivers of the Endoluminal Suturing Devices market include the rising prevalence of gastrointestinal diseases, the increasing number of surgical procedures, the availability of advanced endoluminal suturing devices, and favorable reimbursement policies.
The rising prevalence of gastrointestinal diseases is one of the major drivers of the Endoluminal Suturing Devices market. According to the World Health Organization, the prevalence of gastrointestinal diseases has increased significantly over the past few years. The number of people suffering from gastrointestinal diseases is expected to continue to grow in the coming years. This is expected to drive the demand for endoluminal suturing devices.
The increasing number of surgical procedures is another major driver of the Endoluminal Suturing Devices market. According to the American College of Surgeons, the number of surgical procedures performed in the United States has increased significantly over the past few years. The number of surgical procedures is expected to continue to grow in the coming years. This is expected to drive the demand for endoluminal suturing devices.
The favorable reimbursement policies are another driver of the Endoluminal Suturing Devices market. The favorable reimbursement policies have made it possible for more people to get access to endoluminal suturing devices. This is expected to drive the demand for endoluminal suturing devices.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Endoluminal Suturing Devices Market Segmental Overview
The global endoluminal suturing devices market is segmented into application, and end user, and region.
Global Endoluminal Suturing Devices Market by Application
Based on application, it is segmented into gastrointestinal surgery, bariatric surgery, and gastroesophageal reflux disease. The gastrointestinal surgery segment is anticipated to dominate the market during the forecast period. Similarly, the bariatric surgery segment is anticipated to witness the fastest growth during the forecast period.
Global Endoluminal Suturing Devices Market by End User
Based on end user, it is segmented into hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment is anticipated to dominate the market during the forecast period. Similarly, the clinics segment is anticipated to witness the fastest growth during the forecast period.
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Major Players in the Global Endoluminal Suturing Devices Market
The key players studied in the global endoluminal suturing devices market are Apollo Endosurgery, Inc., Ethicon Endo-Surgery, Medtronic Plc., USGI Medical Inc., Covidien., Ovesco Endoscopy AG, Endo Tools Therapeutics S.A., ErgoSuture, Stryker Corporation, and Sutrue Ltd. among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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