Technological Innovations to Stay at Epicenter of Endoscopic Clips Market Growth at 7.3% CAGR
Application in Endoscopic Marking to Account for Over 1/3rd Sales in Endoscopic Clips Market
Fact.MR’s latest report uncovers hidden opportunities in the endoscopic clips market. All lucrative pockets for sales (in terms of application, end-user and region) are covered in the report besides in-depth analysis of challenges posing threat. The report also presents analysis of competitive trend prevailing in the market.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per Fact.MR, the global endoscopic clips market is estimated to grow at a CAGR of 7.3%, totaling US$ 617.0 Mn by the end of 2026.
The growing incidence of inflammatory bowels, colorectal and gastroesophageal diseases are pushing demand for endoscopic clips. Also, endoscopic clips are widely used in the treatment of hemostasis-related problems such as bleeding arteries and ulcers which is further presenting a positive demand outlook.
Among various applications, the hemostasis segment is anticipated to account for the leading share in the market. Demand in the segment will continue rising as endoscopic clips offer good muscular adherence and tissue retention. Despite this, Fact.MR has projected the endoscopic marking segment to remain dominant through the forecast period owing to their increasing use in surgical procedures.
Among various end users, hospitals are estimated to channel the majority revenue backed by high patient footfall and a rising number of surgical procedures. Demand for advanced technologies to offer improved patient care and ensure shorter hospital stays will fuel the demand for endoscopic clips in hospitals.
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Thanks research initiatives undertaken in the last few years, some of the leading companies were able to acquire approval from international organizations. For instance, Johnson & Johnson acquired critical pre-market approval for using computer-aided surgical sedation devices in endoscopic procedures.
Advent of robot assisted endoscopic procedures has enabled paradigm shift in the endoscopic devices market. These developments are at the epicenter of the rising demand for endoscopic clips.
Regionally, North America is projected to retain its dominance on account of increasing investments in research and development activities along with the robust presence of key market players. As per Fact.MR, North America is estimated to account for 2/5th of the overall market share.
“Recent advancements in imaging technique are giving tailwinds to the endoscopic clips market growth. Also, increasing penetration of automation and robotics in endoscopic surgeries is creating conducive environment for endoscopic clips sales growth,” says a Fact.MR analyst.
Key Takeaways from Endoscopic Clips Market Survey
- North America is projected to emerge as a leading market while exhibiting growth at an impressive CAGR of 7.2% over the assessment period.
- Demand outlook for Asia Pacific remains optimistic and as the market set to expand at a CAGR of 7.6% over the forecast period.
- Based on application, the demand for endoscopic markers is poised to expand at a CAGR of 7.5% over the forthcoming years.
- Based on application, the Hemostasis segment is projected to account for almost half the endoscopic clips market share, expanding at a CAGR of 7.8%.
- The global endoscopic clips market is highly consolidated with the presence of three market players including, Boston Scientific Corporation, Cook Medical and Olympus Corporation.
- Demand for faster patient recovery, shorter hospital stays, and lower healthcare burden are strengthening prospects for endoscopic clips market growth.
- Growing inclination for minimally invasive surgeries is accelerating the market growth.
Ask Your Endoscopic Clips Market Related Questions & Get Customized Reports
Endoscopic clips market players are focusing on new product offerings along with acquisitions and partnerships to gain a strong foothold in the market.
For instance, in 2020, Olympus Corporation announced the launch of its new endoscopy system EVIS X1. This novel innovation aims to enhance results from disorders of the colon, oesophagus and stomach.
In 2021, Olympus Corporation expanded its respiratory portfolio with the launch of first line of single-use bronchoscopes, the H-SteriScopes, which offers high flexibility and choice to physicians performing advanced procedures.
Some of the leading players operating in the endoscopic clips market profiled by Fact.MR are:
- Boston Scientific Corporation
- Cook Medical
- Olympus Corporation.
More Valuable Insights on Endoscopic Clips Market
Fact.MR, in its new report, offers an unbiased analysis of the global endoscopic clips market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on endoscopic clips market with detailed segmentation:
- Endoscopic marking
- Mucosal/Sub-mucosal defects
- Bleeding ulcers
- Bleeding arteries
- Polypectomy sites
- Ambulatory surgical centers
- North America
- Asia Pacific (APAC)
- Latin America
- Middle East & Africa (MEA)
Key Questions Covered in the Endoscopic Clips Market Report
- The market survey highlights projected sales growth for endoscopic clips market through 2026
- The report offers insight into endoscopic clips demand outlook for the next five years
- Endoscopic clips market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Endoscopic clips market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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