The global Endoluminal Suturing Devices Market, which are used in minimally invasive weight loss and gastrointestinal procedures, was worth $518.95m in 2022, and is set to grow by 7% during the forecast period. The rising popularity of non-invasive procedures for weight loss and the prevalence of lifestyle-associated diseases are the main drivers of market growth. Endoluminal suturing tools are used in surgical techniques, including stapling and suturing, to perform minimally invasive treatments on hollow organs.
Endoscopic Sleeve Gastroplasty (ESG) and Transoral Incisionless Fundoplication (TIF) are two examples of non-invasive endoscopic procedures that use Endoluminal Suturing Devices to seal incisions or punctures caused during surgery. Endoluminal Suturing Devices are also used to treat Gastroesophageal Reflux Disease (GERD) and hiatal hernias, which are chronic conditions affecting millions of people worldwide.
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The demand for minimally invasive operations is increasing because of the frequency of chronic diseases, patient preference for non-invasive procedures, and improvements in endoscopic technology.
Key players in the Endoluminal Suturing Devices Market:
- Apollo Endosurgery, Inc.
- Boston Scientific Corporation
- Cook Medical
- EndoEvolution, LLC
- Ethicon US, LLC (a subsidiary of Johnson Johnson)
- Medtronic plc
- Olympus Corporation
- Sewa Medicals Limited
- Teleflex Incorporated
The adoption of these devices is increasing due to the advent of Endoluminal Suturing Devices with improved suturing speed, high mobility, and increased precision. Additionally, the increasing use of endoscopic suturing technology in other medical specialties, such as gynecology and urology, is expected to drive market growth.
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However, the high cost of Endoluminal Suturing Devices and the scarcity of qualified personnel to use them could restrain market growth. Additionally, the availability of alternatives to traditional surgical techniques and pharmaceutical therapy could also restrain growth.
Based on product type, the market is segmented into single-use and reusable devices. Single-use devices accounted for the largest revenue share in 2022, due to the rising need for minimally invasive operations, the prevalence of gastrointestinal disorders, and the preference for disposable medical equipment. The reusable segment is expected to register steady revenue growth during the forecast period, due to increasing focus on sustainability and environmental responsibility, cost-effectiveness, and technological developments in the production process.
Based on application, the market is segmented into bariatric surgery, gastrointestinal surgery, and others. The gastrointestinal surgery segment is growing the fastest, due to the increasing prevalence of GI disorders and the rising demand for minimally invasive surgeries. The bariatric surgery segment is expected to account for a significantly large revenue share during the forecast period, due to the increasing prevalence of obesity and concomitant comorbidities.
The North American market accounted for the largest revenue share in 2022, due to the region's rapid adoption of cutting-edge medical technologies, rising interest in minimally invasive surgical techniques, and the presence of major industry players. The European market is expected to register moderately fast revenue growth during the forecast period.
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