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Endoscopic Clips Market - Growth, Trends, and Forecasts (2023-2028)

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  • 130 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4987022
The Endoscopic Clips Market is anticipated to witness a CAGR of nearly 7.0% during the forecast period.

Several communities, industries, and businesses were affected during COVID-19 as a result of restrictions and curfew. Most elective and non-urgent surgeries were postponed during the pandemic as the healthcare infrastructure was reserved for the treatment of COVID-19 patients. As a result, all surgical departments around the world saw a significant decrease in the number of procedures conducted during the pandemic. According to the study published in the Journal of Clinical and Translational Gastroenterology in June 2021, by the Clinical and Translational Gastroenterology, non-urgent endoscopic treatments were postponed due to contamination concerns. The study found that endoscopy was the most often postponed operation during the COVID-19 pandemic. As a result, the COVID-19 pandemic had a considerable impact on market growth in its early stages. However, the post-COVID-19 situation is likely to have huge growth as pending procedures will increase in the surgical volume.

The major factors attributing to the growth of the endoscopic clips market are increasing in the geriatric population and a rise in the global prevalence of gastrointestinal (GI) bleeding disorders such as colorectal and pancreatic cancers, inflammatory bowel disease, gastroesophageal reflux disease (GERD), cardiac vessel bleedings, and gastrointestinal hemorrhages with the increasing geriatric population. According to the WHO Facts of 2021, the proportion of the global population aged 60 and up will nearly double from 12% to 22% between 2015 and 2050. By 2050, 80% of the world's elderly will live in low- and middle-income countries. The population is aging at a much faster rate than in the past. Additionally, according to the American Cancer Society's Statistics 2021, with 60,430 new cases and 48,220 fatalities, pancreatic cancer was the third most frequent cancer in the United States. Thus, the growing geriatric population and rising incidence of GI bleeding disorders are expected to boost the market growth over the forecast period.

Furthermore, the strategic initiatives taken by the market players are also expected to propel the growth of the market segment. For instance, in January 2022, Cook Medical's Instinct Plus Endoscopic Clipping Device was made commercially available to physicians in the United States. The new clipping device, based on the design of the original Instinct Endoscopic Clip, features smoother operation and responsive handling, strong clip retention and expanded indications beyond hemostasis and endoscopic marking, including compatibility through a side-viewing scope (also known as a duodenoscope), applications for defect closure, anchoring procedures, and prophylactic clipping in the gastrointestinal (GI) tract.

Thus, all the above-mentioned factors are expected to boost market growth over the forecast period. However, stringent regulatory reforms and patient safety concerns due to severe risks associated with endoscopic clips may restrain the market growth over the forecast period.

Endoscopic Clips Market Trends

Hemostasis Expected to See Notable Growth in the Endoscopic Clips Market

Hemostasis clips are used to stop bleeding in the gastrointestinal tract. This is usually done after removing polyps from the colon or to cure a bleeding ulcer. Polyps are tiny tissue growths that might be noticed during a GI treatment. The segment is driven by the rising prevalence of GI bleeding diseases and product launches by the key market players.

According to the study published by the National Library of Medicine in July 2022, gastroesophageal reflux disease (GERD) is one of the most common chronic gastrointestinal disorders, affecting around 20% of people in western countries. It is defined by the regurgitation of gastric contents into the esophagus. As a result, this frequent ailment among the target group is predicted to raise disease awareness, leading to treatment and diagnosis. As a result, it is likely to propel market expansion throughout the forecast period.

Additionally, market participants concentrating on the launch of cutting-edge items are fostering market expansion. For instance, in May 2022, Micro-Tech Endoscopy introduced the largest clip in its Lockado line of hemostasis clips. Its ease of use and procedural benefits made it popular among Microtech customers. The thumb ring allows for easy deployment, while the rotating grip allows for 360 degrees of controlled rotation. The new Lockado hemostasis clip provides clinicians with the same accuracy, dependability, and confidence as the rest of the Micro-Tech hemostasis clip portfolio but with a wider reach. Thus, the launch of such a hemostasis clip in the market is expected to significantly contribute to the segment’s growth.

North America Expected to See Significant Growth in the Forecast Period

North America is expected to witness significant growth in the overall endoscopic clips market throughout the forecast period. The dominance is due to the rise in arterial bleeding among cardiac patients and GI-related surgeries in the United States, which holds the largest market share due to the presence of a huge patient population. For instance, according to a study published by the Surgical Endoscopy in November 2021, laparoscopic cholecystectomy was the most common abdominal surgical treatment in the United States, with over 750,000 surgeries performed annually. Additionally, as per the study published in the National Library of Medicine in January 2021, in the United States, around 17.7 million endoscopic procedures (EPs) were performed each year. Surgeries like these are expected to increase the demand for endoscopic clips, thereby contributing to market growth.

Moreover, several key market players have also focused on the launch of innovative endoscopic clips in the nation, adding to the market’s growth. For instance, in April 2022, SonoScape Medical Corp. announced that the US FDA approved its video endoscopy system HD-550 for gastrointestinal diagnosis.

As a result of the increasing number of surgical procedures and new product approvals, the endoscopic clips market in North America is likely to rise during the forecast period.

Endoscopic Clips Market Competitor Analysis

The endoscopic clips market is moderately competitive and consists of several major players. A few of the major players currently dominating the market are making acquisitions with other companies to consolidate their market positions across the world, while some others are launching new products with advanced technologies to facilitate fast and accurate placement. Some of the companies currently dominating the market include B. Braun SE, Boston Scientific Corporation, CONMED Corporation, Johnson & Johnson, and STERIS PLC.

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  • The market estimate (ME) sheet in Excel format
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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Geriatric Population and Rise in Prevalence of Bleeding Disorders
4.2.2 New Product Launches with Advanced Technologies and Preference for Minimally Invasive Procedures
4.3 Market Restraints
4.3.1 Highly Expensive GI Endoscopic Procedures and Troublesome Repayment Approaches
4.3.2 Stringent Regulatory Reforms and Patient Safety Concerns due to Severe Risks Associated with the Endoscopic Clips
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - in USD million)
5.1 By Application
5.1.1 Hemostasis
5.1.2 Endoscopic Marking
5.1.3 Other Applications
5.2 By End User
5.2.1 Hospitals
5.2.2 Ambulatory Surgical Centers
5.2.3 Other End Users
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Apollo Endosurgery Inc.
6.1.2 B. Braun SE
6.1.3 Boston Scientific Corporation
6.1.4 CONMED Corporation
6.1.5 Cook Group
6.1.6 Johnson & Johnson
6.1.8 Olympus Corporation
6.1.9 Abbott (St. Jude Medical Inc)
6.1.10 Medtronic PLC

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Apollo Endosurgery Inc.
  • B. Braun SE
  • Boston Scientific Corporation
  • CONMED Corporation
  • Cook Group
  • Johnson & Johnson
  • Olympus Corporation
  • Abbott (St. Jude Medical Inc)
  • Medtronic PLC