DUBLIN--(BUSINESS WIRE)--The "Global Endoluminal Suturing Devices Market by Application (Bariatric, Gastrointestinal, Gastroesophageal Reflux Disease), End User (Hospitals, Clinics, Ambulatory Surgical Centers), Technology Analysis, Regulatory Landscape, Trends - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global endoluminal suturing devices market is projected to reach USD 139 million by 2027 from USD 78 million in 2022, at a CAGR of 12.0%.
The growth of this market can largely be attributed to the rising demand for bariatric surgeries, increasing number of surgeries, and rising prevalence of gastrointestinal diseases.
The gastrointestinal surgery segment is expected to register the highest CAGR during the forecast period
Based on application, the global endoluminal suturing devices market is segmented into bariatric surgery, gastrointestinal surgery, gastroesophageal reflux disease surgery, and other surgeries. The gastrointestinal surgery segment is expected to register the highest growth during the forecast period. This is mainly due to the growing number of gastrointestinal cancer cases worldwide.
The ambulatory care centers segment to witness the highest growth in the endoluminal suturing devices end user market during the forecast period
Based on end users, the endoluminal suturing devices market is segmented into hospitals, ambulatory surgical centers, clinics, and other end users. The ambulatory care centers segment is expected to register the highest growth during the forecast period. This can be attributed to the increased adoption of getting treated in ambulatory care settings due to the cost-effective treatment offered.
The APAC to witness the highest growth during the forecast period
Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2022-2027. The presence of high-growth markets such as India, China, and Japan, rapidly developing healthcare industry in China and India, increasing number of hospitals, rising per capita income, increasing healthcare infrastructure, rising burden of GI cancer, and the rising awareness about health are some of the major factors that are expected to drive the growth of the endoluminal suturing devices market in the Asia Pacific region.
Market Dynamics
Drivers
- Increasing Number of Surgical Procedures Worldwide
- Rising Prevalence of Gastrointestinal Cancers, Inflammatory Bowel Disease, and Other Digestive Diseases
- Favorable Reimbursement Scenario
Restraints
- Presence of Alternative Wound Care Management Products
Opportunities
- High-Growth Opportunities in Emerging Markets
- Increasing Adoption of Outpatient Surgeries
Challenges
- Shortage of Skilled Personnel
Companies Mentioned
- Apollo Endosurgery, Inc.
- Cook Group Incorporated
- Endo Tools Therapeutics S.A.
- Ergosuture
- Johnson & Johnson (Ethicon, Inc.)
- Medtronic plc
- Ovesco Endoscopy Ag
- Sutrue Ltd.
- Usgi Medical
For more information about this report visit https://www.researchandmarkets.com/r/2vwq1z
