Hemostatic endoscopy is widely being used in various cases of lesions, bleeding arteries and gastrointestinal cancers, which is further advancing the demand of endoscopic sales
Hemostatic endoscopy is widely being used in various cases of lesions, bleeding arteries and gastrointestinal cancers, which is further advancing the demand of endoscopic sales
Fact.MR, Rockville MD: Fact.MR’s report on global endoscopic clips market forecasts a staggering growth of 7.3% to reach a valuation of US$ 617 Mn by the end of forecast period. Technological advancement and rising cases of gastrointestinal (GI) cancer is spurring the sales of endoscopic clips. Incorporation of Artificial Intelligence and computer aided surgical sedation devices has surged the demand for the endoscopic procedures.
According to the study, various internal disease and conditions such as anemia, bleeding, cancer has surged the usage of hemostatic endoscopy. Significant application of hemostasis such as mucosal adherence and tissue retention is providing a stimulus to the endoscopic clips demand. Hence, fostering the sales.
For instance, according to the Centre for Disease Control and Prevention, in 2020, approximately 75 million endoscopies are performed in the U.S. every year and around 68% are GI endoscopies. Hence the health professionals are investing heavily in advancing the medical imaging devices. Hence, fostering the sales.
“Increasing geriatric population and rising diseases are another key driver accelerating the endoscopic clips sales,” says the Fact.MR analyst.
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Key Takeaways
- North America to emerge as the most lucrative market accounting for almost 2/5th of the total market share
- Owing to the low cost and speedy recovery, hemostatic endoscopy to be the most preferred application
- Asia Pacific to register a staggering growth at 7.6% CAGR
- Hemostasis to acquire almost 47% of the total market share
- Hospitals expected to be the primary end users of endoscopic clips market
Prominent Drivers
- Favorable reimbursement plans and increase in number of treatment to foster the sales
- Rising preference of hemostatic endoscopy treatment to be a key driver
- Technological development and high investment in R&D for the rising GI tract cancers to augment the growth of the market
Key Restraints
- Rising COVID-19 cases to restrict the growth of endoscopic clips market
Discover more about the endoscopic clips market with figures, data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/4753/endoscopic-clips-market
Competitive Landscape
Cook Endoscopy, Olympus America, Boston Scientific Corporation, CONMED Corporation, Medtronic, and Ovesco Endoscopy AG are some of the key players profiled by Fact.MR. With the market being highly consolidated, key players are adopting numerous organic and inorganic strategies such as product innovation, collaborations, M&A’s, to strengthen their position in the market.
In March 2021, Cook Endoscopy received a FDA breakthrough device designation for Zenith ® fenestrated and endovascular graft to provide more efficient treatment or diagnosis for life-threatening or irreversibly debilitating diseases or conditions.
Likewise, in March 2021, Boston Scientific Corporation announced they entered into a definitive agreement with an affiliate of Baring Private Equity Asia (BPEA) to acquire Lumenis Ltd., a privately-held company that develops and commercializes energy-based medical solutions, for an upfront cash payment of $1.07 billion. With this acquisition, the organization is anticipating the 2021 net sales worth US$ 200 million.
More Insights on the Endoscopic clips Market
In its latest report, Fact.MR offers a detailed analysis on global endoscopic clips market. The report divulges essential insights on endoscopic clips market on the basis of application (endoscopic marking, hemostasis: mucosal/sub mucosal defects, bleeding ulcers, bleeding arteries, polypectomy sites and others), end-users (hospitals, ambulatory surgical centers, clinics and others), and regions (North America, Latin America, Europe, Japan, APEJ, and Middle East and Africa)
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Source: Fact.MR