Endoluminal Suturing Devices Market Will Reach USD 258.1 Million by 2030, Says P&S Intelligence

NEW YORK, March 1, 2023 /PRNewswire/ -- According to a report by P&S Intelligence, the size of the endoluminal suturing devices market was USD 102.3 million in 2022, and this number will reach USD 258.1 million by 2030, propelling at a 12.3% CAGR.

Significant Incidence of Chronic Diseases Powering Industry

• The increase in chronic condition cases and an incessant growth in the aging population are powering the growth of the industry. The main reason for this is that elderly people have weak immune systems; therefore, are more susceptible to such diseases.
• Chronic ailments are also becoming more prevalent because of physical inactivity, smoking, poor diets, and ignorance of the family history of such conditions, especially heart diseases and cancer.
• Furthermore, there is growth in the government spending on medical facilities, particularly in China, India, and other developing countries.

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Gastrointestinal Surgeons Use Endoluminal Sutures Most Widely

Gastrointestinal surgery has an around 40% share, the largest in the application segment. This is ascribed to the growing volume of GI procedures yearly, due to a high rate of related ailments, such as those associated with the abdomen.

The gastroesophageal reflux disease surgery category will grow the fastest in the years to come, at a rate of above 14%. This will be owing to the robust pace of technological improvements and the rising occurrence of GERD.

Endoluminal Suture Sales To Grow Fastest in APAC

• APAC will grow at the highest rate, of over 13%, credited to the existence of a substantial population susceptible to chronic conditions and the improvements in the healthcare infrastructure.
• India and China are home to more than 30% of the global population. Furthermore, the increase in the incidence of severe infectious ailments in India and China is driving the requirement for less invasive surgeries.

Europe Generates Substantial Product Demand

• Europe has a considerable share of the revenue because of the increasing demand for cardiac and orthopedic procedures, growing burden of digestion issues, and increasing count of elderly citizens. A key reason for digestion issues is the use of alcohol and other lifestyle factors.
• Germany has the largest share in Europe, and it will contribute about 25% of the continent's revenue in 2030.
• This is mainly because it is a large global medical device hub, characterized by a large number of players, which increases the reach of the existing and newly introduced medical devices.
• The demand for endoluminal sutures will also rise considerably in France, on account of the frequent product launches, surging chronic disease prevalence, and growing elderly population

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Hospitals Account for Highest Product Procurement Rates

Hospitals contribute about 60% of the revenue to endoluminal suturing device manufacturers because they conduct the highest number of surgeries, be it the traditional open ones or MISs.

In the coming years, a CAGR of 14% will be seen in the ambulatory surgery centers category, as these places offer same-day surgeries at a lower price than hospitals.

Endoluminal Suturing Devices Market Report Coverage

Endoluminal Suturing Devices Market Analysis by Application

• Bariatric Surgery
• Gastrointestinal Surgery
• Gastroesophageal Reflux Disease Surgery

Endoluminal Suturing Devices Market Analysis by Component

• Suction Port
• Cannula
• Needle

Endoluminal Suturing Devices Market Analysis by End User

• Hospitals
• Clinics
• Ambulatory Surgery Centers

Endoluminal Suturing Devices Market Analysis Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa
• U.A.E.

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