The global endoluminal suturing devices market size was estimated to be USD 75.6 million in 2023 and is expected to reach at USD 258.9 million by 2034 with a CAGR of 11.84% during the forecast period 2024-2034. Rising prevalence of obesity, increasing preference for minimally invasive weight loss surgeries, growing technological advancement in endoluminal devices, surge in introduction of robotic suturing systems in the realm of endoluminal surgeries, rising funding by private & government bodies, increasing research & development activities, growing partnerships & acquisitions within market players, and surge in approval of technologically advanced endoluminal suturing systems are some of the leading factors contributing to the market growth.
Surge in approval of technologically advanced endoluminal suturing systems is predicted to boost the market growth during the forecast period. Technological advancements in endoluminal devices have empowered medical professionals to explore a wide range of surgical procedures, leading to a heightened demand for endoluminal suturing devices. Furthermore, progress in endoluminal suturing devices has expanded the horizons of gastrointestinal surgeries, as endoluminal surgeries are conducted entirely within the gastrointestinal tract. These procedures involve the removal of lesions using endoscopic suturing devices, eliminating the need for open surgeries. As a result, industry participants are prioritizing the development of advanced devices in this field. For instance, in June 2022, Ovesco Endoscopy AG has obtained approval from ANVISA (Agência Nacional de Vigilância Sanitária) for both the OTSC System and mini OTSC System in Brazil.
By application, gastrointestinal surgery was the highest revenue-grossing segment in the global endoluminal suturing devices market in 2023 owing to the presence of diverse applications in the field of gastroenterology particularly in addressing abdominal-related illnesses, surge in number of GI procedures, and growing approvals by regulatory bodies. For instance, in January 2022, Endo Tools Therapeutics (ETT) has announced the 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the Endomina System. This system is specifically designed for endoscopically placing suture(s) and approximating soft tissue within the gastrointestinal tract in the adult population. Additionally, bariatric surgery is predicted to grow at fastest CAGR during the forecast period owing to surge in prevalence of obesity, increasing number of bariatric surgical procedures, and rising technological advancement in various bariatric surgical procedures.
By end-user, hospitals was the highest revenue-grossing segment in the global endoluminal suturing devices market in 2023 owing to the growing prevalence of chronic disease, rising number of bariatric surgeries, improving healthcare infrastructure, presence of skilled healthcare professionals, increasing funding from private & government healthcare, and surge in collaborations within market players. For instance, in May 2022, B. Braun has partnered with Massachusetts General Hospital to jointly tackle healthcare challenges. This collaboration is centered on implementing innovative ideas and business models to enhance the efficiency and productivity of healthcare while also improving the well-being and work experiences of care teams. Additionally, ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of minimally invasive surgeries which reduce the length of hospital stays, increasing technological advancements in the field of endoluminal surgeries, and lower cost of surgeries as compared to the hospital charges.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising favorable reimbursement policies, growing number of bariatric surgeries, the presence of leading market players, surge in prevalence of chronic diseases & obesity, increasing product launches, and rising collaborations within market players. For instance, in July 2022, Medtronic, a prominent global healthcare technology leader, and the American Society for Gastrointestinal Endoscopy (ASGE) have revealed an expansion of the Medtronic Health Equity Assistance Program. This program aims to provide colon cancer screening in medically underserved communities throughout the United States. The initiative has received support from Amazon Web Services (AWS) Health Equity Initiative. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing healthcare infrastructure, the presence of a large patient population, increasing demand for minimally invasive surgeries, and rising mergers & acquisitions within market players. For instance, in February 2023, Olympus Corporation has acquired Taewoong Medical Co., Ltd. as part of its strategy to enhance the capabilities of its Gl EndoTherapy product line. This acquisition is aimed at providing comprehensive solutions that can ultimately lead to improved patient outcomes.
Surge in approval of technologically advanced endoluminal suturing systems is predicted to boost the market growth during the forecast period. Technological advancements in endoluminal devices have empowered medical professionals to explore a wide range of surgical procedures, leading to a heightened demand for endoluminal suturing devices. Furthermore, progress in endoluminal suturing devices has expanded the horizons of gastrointestinal surgeries, as endoluminal surgeries are conducted entirely within the gastrointestinal tract. These procedures involve the removal of lesions using endoscopic suturing devices, eliminating the need for open surgeries. As a result, industry participants are prioritizing the development of advanced devices in this field. For instance, in June 2022, Ovesco Endoscopy AG has obtained approval from ANVISA (Agência Nacional de Vigilância Sanitária) for both the OTSC System and mini OTSC System in Brazil.
By application, gastrointestinal surgery was the highest revenue-grossing segment in the global endoluminal suturing devices market in 2023 owing to the presence of diverse applications in the field of gastroenterology particularly in addressing abdominal-related illnesses, surge in number of GI procedures, and growing approvals by regulatory bodies. For instance, in January 2022, Endo Tools Therapeutics (ETT) has announced the 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the Endomina System. This system is specifically designed for endoscopically placing suture(s) and approximating soft tissue within the gastrointestinal tract in the adult population. Additionally, bariatric surgery is predicted to grow at fastest CAGR during the forecast period owing to surge in prevalence of obesity, increasing number of bariatric surgical procedures, and rising technological advancement in various bariatric surgical procedures.
By end-user, hospitals was the highest revenue-grossing segment in the global endoluminal suturing devices market in 2023 owing to the growing prevalence of chronic disease, rising number of bariatric surgeries, improving healthcare infrastructure, presence of skilled healthcare professionals, increasing funding from private & government healthcare, and surge in collaborations within market players. For instance, in May 2022, B. Braun has partnered with Massachusetts General Hospital to jointly tackle healthcare challenges. This collaboration is centered on implementing innovative ideas and business models to enhance the efficiency and productivity of healthcare while also improving the well-being and work experiences of care teams. Additionally, ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of minimally invasive surgeries which reduce the length of hospital stays, increasing technological advancements in the field of endoluminal surgeries, and lower cost of surgeries as compared to the hospital charges.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising favorable reimbursement policies, growing number of bariatric surgeries, the presence of leading market players, surge in prevalence of chronic diseases & obesity, increasing product launches, and rising collaborations within market players. For instance, in July 2022, Medtronic, a prominent global healthcare technology leader, and the American Society for Gastrointestinal Endoscopy (ASGE) have revealed an expansion of the Medtronic Health Equity Assistance Program. This program aims to provide colon cancer screening in medically underserved communities throughout the United States. The initiative has received support from Amazon Web Services (AWS) Health Equity Initiative. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing healthcare infrastructure, the presence of a large patient population, increasing demand for minimally invasive surgeries, and rising mergers & acquisitions within market players. For instance, in February 2023, Olympus Corporation has acquired Taewoong Medical Co., Ltd. as part of its strategy to enhance the capabilities of its Gl EndoTherapy product line. This acquisition is aimed at providing comprehensive solutions that can ultimately lead to improved patient outcomes.
Segmentation: Endoluminal Suturing Devices Market Report 2023 - 2034
Endoluminal Suturing Devices Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Mn)
- Gastrointestinal Surgery
- Bariatric Surgery
- Gastroesophageal Reflux Disease Surgery
- Others
Endoluminal Suturing Devices Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Mn)
- Ambulatory Surgical Centers
- Hospitals
- Others
Endoluminal Suturing Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Mn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Endoluminal Suturing Devices Market: Application Estimates & Trend Analysis
8. Endoluminal Suturing Devices Market: End-user Estimates & Trend Analysis
9. Regional Market Analysis
10. North America Endoluminal Suturing Devices Market
11. Europe Global Endoluminal Suturing Devices Market
12. Asia Pacific Global Endoluminal Suturing Devices Market
13. Latin America Global Endoluminal Suturing Devices Market
14. MEA Global Endoluminal Suturing Devices Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- Medtronic Plc.
- USGI Medical
- Intuitive Medical
- Endo Tools Therapeutics S.A.
- B Braun Melsungen
- Ovesco Endoscopy AG
- Terumo Corporation
- Richard Wolf GmbH
- Karl Storz GmbH
- Olympus Corporation
- Johnson & Johnson (Ethicon)
- Teleflex Corporation
- Cardinal Health
- Apollo Endosurgery
- ErgoSuture
- Boston Scientific
- Sutrue Ltd.
- Cook Medical
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 75.6 Million |
| Forecasted Market Value ( USD | $ 258.9 Million |
| Compound Annual Growth Rate | 11.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 18 |
