Endoluminal Suturing Devices Market to Grow with a CAGR of 11.84% through 2029
Increasing Investments in Research and Development and
supportive Regulatory Approvals and Clinical Evidence are the drivers for the
Global Endoluminal Suturing Devices Market
According to
TechSci Research report, “Endoluminal Suturing Devices Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029F”,
the Global
Endoluminal Suturing Devices Market was valued at USD 84.72 million in 2023
& will see an impressive growth in the forecast period at a CAGR of 11.84%
through 2029. Favorable reimbursement policies help mitigate the financial burden
for patients undergoing procedures that utilize endoluminal suturing devices.
Patients are more likely to opt for treatments that are covered by insurance or
reimbursed by healthcare programs, making endoluminal procedures more
accessible to a wider patient population.
Healthcare providers are more
inclined to invest in and adopt endoluminal suturing devices when they are
confident that the procedures will be reimbursed. Favorable reimbursement
policies incentivize hospitals, clinics, and surgical centres to offer endoluminal
procedures as part of their service offerings, leading to increased demand for
these devices. Favorable reimbursement policies encourage innovation and
technology adoption in the healthcare industry. Manufacturers of endoluminal
suturing devices are more likely to invest in research and development to
improve device performance, safety, and efficacy when there is a clear path to
reimbursement for their products. Reimbursement policies may be tied to
healthcare quality metrics and patient outcomes. Endoluminal suturing devices
can contribute to improved patient outcomes and reduced healthcare costs,
aligning with the goals of value-based care initiatives and quality improvement
programs.
Reimbursement policies often
require evidence of the clinical effectiveness and cost-effectiveness of
medical procedures and devices. Manufacturers of endoluminal suturing devices
may conduct clinical studies and gather real-world evidence to demonstrate the
value of their products, which can facilitate reimbursement approval and drive
demand in the market.
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Endoluminal suturing devices
can be expensive to procure, limiting their accessibility for healthcare
providers, particularly those operating within budget-constrained healthcare
systems. The high upfront costs associated with acquiring endoluminal suturing
devices may deter healthcare facilities from investing in these technologies,
especially in resource-limited settings. High costs associated with endoluminal
suturing procedures can impose a financial burden on patients, particularly
those who are uninsured or underinsured. Out-of-pocket expenses related to
co-payments, deductibles, and additional fees may deter patients from pursuing
endoluminal suturing treatments, even if they are medically necessary or
beneficial. Healthcare decision-makers must evaluate the cost-effectiveness of
endoluminal suturing devices relative to alternative treatment modalities and
surgical techniques. While endoluminal suturing procedures may offer clinical
benefits such as reduced morbidity, shorter recovery times, and improved
patient outcomes, their cost-effectiveness relative to traditional open
surgeries or other minimally invasive approaches may vary depending on specific
clinical indications and patient populations.
The Global Endoluminal
Suturing Devices Market is segmented into Application, End User, regional
distribution, and company.
Based on its Application, Gastroesophageal
reflux disease (GERD) surgery refers to surgical procedures aimed at addressing
the underlying causes of GERD, a chronic condition characterized by the reflux
of stomach acid and other contents into the esophagus. While GERD can often be
managed with lifestyle modifications and medications, surgery may be considered
for patients who do not respond to conservative treatments or who experience
severe symptoms and complications. GERD surgery is typically reserved for patients
who have failed to respond to lifestyle modifications and medications, or who
experience severe complications such as esophageal strictures, Barrett's
esophagus, or aspiration pneumonia. Before undergoing surgery, patients usually
undergo comprehensive evaluation and testing, including endoscopy, pH
monitoring, and imaging studies, to determine the extent of reflux and assess
candidacy for surgical intervention. While GERD surgery can be highly effective
in relieving symptoms and improving quality of life for many patients, it is
not without risks and potential complications. Like any surgical procedure,
GERD surgery carries risks such as bleeding, infection, and adverse reactions
to anesthesia.
Based on region,
North America is dominating the market.
North America has well-established regulatory frameworks, such
as the Food and Drug Administration (FDA) in the United States, which provide
clear guidelines for the approval and commercialization of medical devices. A
predictable regulatory environment facilitates the introduction of new
endoluminal suturing devices into the market. North America has a relatively
high prevalence of gastrointestinal disorders and obesity-related conditions,
driving the demand for endoluminal suturing devices for the treatment of these
conditions. The region has a robust network of healthcare providers, including
hospitals, clinics, and ambulatory surgical centres, which are equipped to
perform minimally invasive endoluminal procedures using suturing devices.
Major companies
operating in Global Endoluminal Suturing Devices Market are:
- Apollo Endosurgery, Inc.
- Johnson & Johnson
- Medtronic Plc
- Cook Group Incorporated
- USGI Medical
- Ovesco Endoscopy AG
- Endo Tools Therapeutics S.A
- ErgoSuture
- Sutrue Ltd.
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“Endoluminal
Suturing Devices Market is poised for significant growth and innovation driven
by several key factors. The increasing prevalence of gastrointestinal diseases,
obesity, and other medical conditions necessitating minimally invasive
interventions is fueling the demand for endoluminal suturing devices. These
devices offer surgeons precise control and maneuverability during procedures,
leading to improved patient outcomes, reduced recovery times, and enhanced
safety compared to traditional surgical approaches”, said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based management consulting
firm.
“Endoluminal Suturing Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Application (Bariatric Surgery, Gastrointestinal Surgery, Gastroesophageal Reflux Disease Surgery, Others), By End User (Hospitals, Ambulatory Surgical Clinics, Others), By Region and By Competition, 2019-2029F”, has evaluated the future growth
potential of Global Endoluminal Suturing Devices Market and provides statistics
& information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Endoluminal Suturing Devices Market.
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