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Endoluminal Suturing Devices Market Forecast to 2033
The global endoluminal suturing devices market is on a trajectory of unprecedented growth, having achieved a valuation of US$ 83.8 Million in 2022 and set to surge to a remarkable US$ 295.4 Million by 2033. This phenomenal rise is attributed to the burgeoning demand for advanced medical technologies and minimally invasive procedures worldwide.
Therapeutic interventions aimed at dealing with obesity, the global health pandemic, have also involved use of bariatric endoscopy. Although the sheer number of people who can be classified as “obese” limits the adoption of bariatric endoscopy on a wider scale, it is steadily emerging as a pragmatic option in select settings.
Use of minimally invasive procedures in the treatment and obesity management, has gained ground. However, challenges associated with invasive nature of surgeries has meant that the number of people who undergo bariatric surgery is significantly lesser than those who qualify for it.
The use of minimally invasive surgeries for obesity and Gastro-oesophageal reflux disease (GORD) treatment has led to an increase in demand for endoluminal suturing devices. Endoluminal suturing devices involve the use of inducing sutures into gastric tissues.
Suturing and stapling devices have been in use for surgeries related to obesity and GERD, however, their use in minimally invasive procedures has recently gained momentum. The pace of clinical trials before the turn of this millennium was slow, however, in the last decade or so, extensive clinical trials of endoluminal surgical devices, including endoluminal suturing devices have been conducted. Commercialization soon followed, and today, the endoluminal suturing device market is a multi-million landscape.
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The widely used and known endoluminal suturing devices available in the market include OverStitch™, g?Prox™ Tissue Approximation Device, and InScope™ Tissue Apposition System. Manufacturers continue to focus on offering endoluminal suturing devices that are enable quick closure of perforation. Manufacturers are also focusing on developing endoluminal suturing devices that undo the need of having complex of surgical knots.
Catering to the needs of endoscopic surgeons and healthcare professionals in general is another key focus area for manufacturers. The other key features that are garnering research and investment from endoluminal suturing device manufacturers include,
High number of stitches per endoscopic insertion
Secure tissue approximation
Greater control over suture placement
Single-handed system control
Closure of large defects
Simple mounting on endoscope
Although manufacturers are focusing on incorporating these features in their offerings, there is a long road ahead as far as research and innovation in endoluminal suturing device is concerned. Of particular concern is the complexity involved in applications, which requires extensive experience and dexterity. These factors have induced demand for advanced endoluminal suturing devices globally.
Robotics in Endoluminal Suturing
The challenges pertaining to use of endoluminal suturing devices in smaller working spaces, and bigger perforations has raised the clamor for more effective systems. To mitigate the challenges associated with manual endoluminal suturing, manufacturers are incorporating the use of robotics. Although adoption is at a nascent stage, the idea has raised interest among manufacturers.
Use of endoluminal suturing devices is likely to remain concentrated among hospitals, as patients prefer carrying out these surgeries in hospitals. As a large number of patients undergoing gastrointestinal treatment seek professional help, sales of endoluminal suturing devices is likely to remain concentrated among hospitals.
Key Endoluminal Suturing Device Manufacturers
The research study on endoluminal suturing devices profiles some of the leading players in the market. According to the study, some of the leading endoluminal suturing device manufacturers include Apollo Endosurgery, Inc., Johnson and Johnson (Ethicon Endo-Surgery, Inc.), and Medtronic. These players are focusing on launching highly advanced endoluminal suturing devices that can cater to the evolving needs of end-users.
US, EU3 Largest Markets, Asia Pacific Revs Up Demand
The US and EU3 are among the leading markets for endoluminal suturing devices globally. Growing awareness on the surgical therapeutic intervention for treating gastrointestinal problems has led more patients to undergo surgery. This in turn has boosted demand for endoluminal suturing devices in the US and EU3.
The emergence of many countries of Asia Pacific as medical tourism hubs has also led to increased demand for endoluminal suturing devices. Many countries in Asia Pacific, including Indonesia and India have become key centers of medial tourism. Demand for endoluminal suturing devices is likely to benefit due to these factors.
Endoluminal Suturing Device market research report offers detailed analysis of the market as well as consists of thoughtful facts and insights along with historical data, which holds market data that is industry-evaluated and statistically backed up. The report comprises of projections that are generated with the help of suitable methodologies and a set of hypotheses. In addition, the research report delivers information and study based on market
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CO2 Medical Laser Systems Market Size, Outlook to 2033 by FMI
The global CO2 Medical Laser Systems Market size is set to reach US$ 550.01 million in 2023. Overall sales of CO2 medical laser systems are likely to surge at 10% CAGR, taking the forecasted market valuation to US$ 1,426.59 million by the end of 2033.
The demand for CO2 medical laser systems is on the rise due to factors including
Technological advancements
Increasing adoption of laser treatments for aesthetic procedures
High demand for tattoo removal
Rising adoption of laser systems by veterinary care providers.
Increasing prevalence of chronic diseases such as cancer, urological disorders, stroke, neurovascular diseases, and cardiovascular disorders
According to the World Health Organization (WHO), non-communicable diseases were responsible for around 40 million deaths worldwide, which is 74% globally. High blood pressure, obesity, diabetes, and other unhealthy lifestyle-related disorders result in a higher percentage of the population developing non-communicable diseases. For example, in 2021, 17 million people died from cardiovascular diseases. Accounting for 32% of the global death rate, with 85% of these deaths caused due to stroke and heart attack.
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Some key growth drivers for the CO2 medical laser systems market include:
Cost savings and additional benefits to patients
improved healthcare
cutting-edge technologies
sophisticated devices
Breakthrough medicines
Individualized care
In addition, medical tourism is becoming increasingly popular, with people traveling to different countries for better treatment at affordable prices. Cosmetic surgery is a popular choice in medical tourism. Destinations such as Brazil, Japan, Italy, Mexico, Russia, India, Turkey, Germany, and France are the top choices for individuals seeking such procedures.
Key Takeaways
The increasing demand for non-invasive and minimally invasive procedures is a key driver of market growth.
The dermatology segment dominates the market due to the rising demand for esthetic procedures and products.
The veterinary segment is expected to exhibit the fastest growth due to the increasing adoption of laser systems by veterinary care providers.
The Asia Pacific region is anticipated to witness significant growth in the CO2 medical laser systems market due to the increase in aesthetic clinics and rising disposable income.
Although, the high cost of CO2 medical laser systems and the availability of alternative treatment options may restrain the market growth.
Competitive Landscape
Global manufacturers of medical laser systems are ramping up their production processes and introducing cost-effective solutions to meet the rising demand for these systems. Leading companies are also focusing on improving the quality of their products to cater to various CO2 medical laser system applications.
Alma Lasers, for example, recently launched the Alma PrimeX. It is a non-invasive platform for skin tightening and body contouring. While Candela introduced the Frax Pro System for dual-depth skin resurfacing. These efforts to enhance product quality and expand product portfolios are driving the demand for CO2 medical laser systems.
Key players:
LightScalpel
Limmer Laser GmbH
Boston Scientific Corp.
Herdeks
Alma Lasers
Bison Medical
DEKA M.E.L.A. srl
Cutting Edge Laser Technologies
Lynton Laser Ltd.
Recent Developments
DEKA M.E.L.A. srl won the AGAIN laser award for Best Lasers, Lights, and Energy-based Devices at the AMWC (Aesthetic and Anti-Aging Medicine World Congress) in Monte Carlo in 2022. For vascular conditions, hair removal, nonablative photorejuvenation, superficial pigmented lesions, and onychomycosis, the AGAIN laser is a top choice.
Key Segments
CO2 Medical Laser Systems Industry by Application:
CO2 Medical Laser Systems Industry for Dermatology
CO2 Medical Laser Systems Industry for Ophthalmology
CO2 Medical Laser Systems Industry for Gynecology
CO2 Medical Laser Systems Industry for Urology
CO2 Medical Laser Systems Industry for Dentistry
CO2 Medical Laser Systems Industry for Cardiovascular
CO2 Medical Laser Systems Industry for ENT
CO2 Medical Laser Systems Industry by End User:
CO2 Medical Laser Systems Industry in Hospitals
CO2 Medical Laser Systems Industry in Outpatient Facilities
CO2 Medical Laser Systems Industry in Specialty Clinics
CO2 Medical Laser Systems Industry in Ambulatory Surgical Centers
CO2 Medical Laser Systems Industry in Research & Manufacturing
CO2 Medical Laser Systems Industry in Research Institutes
CO2 Medical Laser Systems Industry in Academic Institutes
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