Endoluminal Suturing Devices Market worth $139 million by 2027 - Exclusive Report by MarketsandMarkets™
Growth in this market is majorly driven by the rising prevalence of gastrointestinal cancers, inflammatory bowel disease, and other digestive diseases and the increasing number of surgical procedures worldwide.
According to a new market research report, Endoluminal Suturing Devices Market is projected to grow from USD 78 million in 2022 to USD 139 million by 2027, at a CAGR of 12.0% from 2022 to 2027, according to a new report by MarketsandMarkets™. The increasing number of surgical procedures worldwide, the rising prevalence of gastrointestinal diseases along are some of the key factors driving the market for endoluminal suturing devices.
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The gastrointestinal surgery segment to witness the highest growth during the forecast period
Based on application, the endoluminal suturing devices market is segmented into bariatric surgery, gastrointestinal surgery, gastroesophageal reflux disease surgery, and other surgeries. The gastrointestinal surgery segment is expected to register the highest growth during the forecast period. This can be attributed to the growing adoption of endoluminal suturing devices for the growing number of gastrointestinal cancer cases worldwide and the increasing prevalence of gastrointestinal disorders.
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The Asia Pacific region is expected to witness the highest growth during the forecast period
Asia Pacific is expected to witness the highest growth during the forecast period due to presence of high-growth markets such as India, China, and Japan, the rising cases of gastrointestinal cancer is the major factors that is expected to drive the growth of the endoluminal suturing devices market in the Asia Pacific region.
The prominent players in the endoluminal suturing devices market are Apollo Endosurgery, Inc. (US), Johnson & Johnson (US), Medtronic Plc (Ireland), Cook Group Incorporated (US), USGI Medical (US), Ovesco Endoscopy AG (Germany), Endo Tools Therapeutics S.A. (Belgium), ErgoSuture (US), and Sutrue Ltd. (UK).
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