SAN FRANCISCO, July 8, 2020 /PRNewswire/ -- The global endoluminal suturing devices market size is expected to reach USD 103.8 million by 2027, registering a CAGR of 12.0% over the forecast period, according to a new report by Grand View Research, Inc. The rapid growth can be attributed to factors such as increasing incidence of obesity and rising number of minimally invasive surgery.
According to the World Health Organization (WHO), in 2016, more than 1.9 billion people aged 18 and above were overweight, out of which over 650.0 million people were obese. Furthermore, rising awareness about personal care and the availability of various weight reduction techniques will boost the market during the forecast period.
Key suggestions from the report:
- North America accounted for the largest share in 2019 owing to presence of favorable reimbursement policies and high obesity incidence
- Asia Pacific is expected to see robust growth during the forecast period owing to the rising awareness about minimally invasive procedures
- The gastrointestinal surgery segment dominated the market in 2019 owing to rising incidence of gastrointestinal diseases
- The hospital segment dominated the market in 2019 due to high incidence of chronic diseases
- Ambulatory surgical centers segment is expected to grow at the fastest pace due to increasing number of outpatient surgeries
- The key players are focusing on innovative product launches to maintain their market share
- For instance, in December 2018, Apollo Endosurgery, Inc. announced the sale of its surgical product line laparoscopic bariatric surgery to ReShape Lifesciences. This will boost Apollo's Endo-bariatric product offerings.
Read 110 page research report with ToC on "Endoluminal Suturing Devices Market Size, Share & Trends Analysis Report By Application (Bariatric Surgery, Gastrointestinal Surgery, Gastroesophageal Reflux Disease Surgery), By End Use, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/endoluminal-suturing-devices-market
Technological advancement and the high adoption rate of endoluminal suturing devices are expected to boost market growth. In addition, the integration of robot-assisted surgery modalities in the field of gastroenterology is expected to expand the application of endoluminal procedures with high precision and reduced error. The robotic suturing technique gives surgeons a degree of freedom of robotic arm and also provide three-dimensional vision. Thus, the availability of these advance techniques is allowing doctors and surgeons to explore various applications of endoluminal surgeries. However, endoluminal suturing devices are comparatively new to the market. Only a handful of companies are making these medical devices and many new players are in a process of FDA approvals and clinical trials.
Grand View Research has segmented the global endoluminal suturing devices market on the basis of application, end use, and region:
- Endoluminal Suturing Devices Application Outlook (Revenue, USD Million, 2016 - 2027)
- Endoluminal Suturing Devices End-Use Outlook (Revenue, USD Million, 2016 - 2027)
- Endoluminal Suturing Devices Regional Outlook (Revenue, USD Million, 2016 - 2027)
- List of Key Players of Endoluminal Suturing Devices Market:
Find more research reports on Medical Devices Industry, by Grand View Research:
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- Robotic Biopsy Devices Market – Rising cancer incidence and increasing demand for minimally invasive surgeries are leading factors contributing toward this growth.
- Liposuction Surgery Devices Market – Growing beauty consciousness among a large population and increasing demand for liposuction procedures by both men and women are majorly driving the market.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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