[Report of 291 Pages] Demand for endoscopic closure systems is expected to reach US$ 294.4 million in 2022, rising at a CAGR of 6.3% to US$ 579.4 million between 2022 and 2032. The development is attributed to the advancement of technology in medical imaging devices. A CAGR of 5.4% was recorded for the market for endoscopic closure systems from 2017 to 2021.
Some of the 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 translumenal endoscopic surgery. To allow the closure of these GI wall defects, several endoscopic closure systems are developed and practiced. According to American Society for Gastrointestinal Endoscopy, ideal endoscopic closure systems should be non-expensive, safe and easy to use, should provide fast, reliable, durable and robust closure. Endoscopic closure systems market has evolved over time.
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Endoscopic clips or endoclips were the first technology developed for endoscopic closure systems. Over-the-scope clips–more effective endoscopic closure system than standard endoclips– was first approved for human use in Europe in 2009 and then in the U.S. in 2010. Endoscopic suturing system was then developed that allows placement of running or interrupted full-thickness sutures. This device was developed based on Eagle Claw device, however, the device was more complex and was compatible with only one endoscope. Introduction of endoscopic suturing systems is expected to revolutionize the endoscopic closure systems market due to its advantages over previously available devices.
Some of the examples of popular endoscopic closure system brands are Padlock Clip, Carter-Thomason CloseSure System, OTSC Proctology, Amplatzer Septal Occluder (used off-label), etc. However, these devices sometimes provide inadequate and unreliable solution and thus there is an urgent need for reliable and robust endoscopic closure systems that can be used for closure of mural and spontaneous iatrogenic defects.Endoscopic Closure Systems Market: Drivers and Restraints
Increasing need and interest for development of dedicated devices and techniques that enable the endoscopic closure of small GI perforations and increasing adoption of minimally invasive endoscopic procedures are the primary factors driving the growth of global endoscopic closure systems market. Number of endoscopic closure systems are being developed and tested in animal models for e.g.
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Bioabsorbable plugs being developed by W.L. Gore and Associates, Mucosal clips being developed by Boston Scientific Inc., Endoloops under development by Olympus Corporation etc. among others. Moreover, availability of these devices in various sizes would increase the demand for endoscopic closure systems over time. However, only few devices are available for use in human and majority of them possess some deficiencies, which limits the widespread use of currently available endoscopic closure systems
Endoscopic Closure Systems Market: Regional Outlook
Geographically, global endoscopic closure systems market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America clearly dominates the global endoscopic closure systems market.Over-the-scope clips and Overstitch systems are currently being used in the U.S.Europe is expected to be the second largest market for endoscopic closure systems as large number of global medical devices players are involved in development of innovative endoscope closure systems.
Endoscopic Closure Systems Market: Key Players
Some of the players identified in global endoscopic closure systems market include CooperSurgical Inc., US Endoscopy, Life Partners Europe, Ovesco Endoscopy AG, Apollo Endosurgery, Inc., St. Jude Medical, Inc. (Abbott), etc. among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends and Issues and Challenges
- Competition & Companies involved
- Technology
- Value Chain
Endoscopic Closure Systems Market: Segmentation
Tentatively, global endoscopic closure systems market has been segmented on the basis of product type, end user, and geography
Based on product type, global endoscopic closure systemsmarket is segmented as below:
- Endoscopic clips/Endoclips (Over-the-scope Clips)
- Overstitch endoscopic suturing system
- Cardiac septal defect occluders
- Endoscopic vacuum assisted closure systems
- Others
Based on end user, global medical physics market is segmented as below:
- Hospitals
- Ambulatory Surgical Centers
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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