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Increase in minimally invasive surgeries is a key factor driving the market revenue growth

VANCOUVER, BC, CANADA, January 17, 2023 /EINPresswire.com/ -- The global endoluminal suturing devices market size reached USD 73.5 Million in 2021 and is expected to register a revenue CAGR of 11.4% during the forecast period, according to latest analysis by Emergen Research. Increase in chronic diseases is driving market revenue growth. Consumer interest in endoluminal suturing device products will increase owing to the rising prevalence of gastrointestinal disorders. Functional Gastrointestinal Disorder (FGID) is a chronic condition that causes severe symptoms like acid reflux, dyspepsia, heartburn, chronic constipation, irritable bowel symptoms, bloating, and abdominal distention. These signs and symptoms could appear at any point in the disease's progression. In addition, the prevalence of gastrointestinal disorders is rising globally, which will help the market for endoluminal suturing devices grow even more.

Introduction of technically advanced suturing devices is another key factor contributing to the market revenue growth. For instance, in July 2022, the Food and Drug Administration (FDA)'s De Novo Classification process, a rigorous pre-market review pathway for low-to moderate-risk devices without a predicate, approved the marketing of the Apollo ESGTM, Apollo ESG SxTM, Apollo REVISETM, and Apollo REVISE SxTM Systems. Apollo Endosurgery, Inc. is a global leader in minimally invasive medical devices for gastrointestinal and bariatric procedures. These are the first and only devices approved by the FDA for use during Endoscopic Sleeve Gastroplasty (ESG) and endoscopic bariatric revision. For the treatment of obese patients, the Apollo ESG and Apollo REVISE systems offer a desirable blend of effectiveness, safety, robustness, and ease.

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Competitive Landscape:

The Endoluminal Suturing Devices report turns the spotlight on the major challenges faced by the key players in the global market and the growth strategies currently adopted by them. The report is a granular assessment of this particular business sphere and entirely covers the dynamic competitive landscape of the market. The document offers key insights into the market positions of these players alongside their gross earnings. Furthermore, it elaborates on each of the market segments, with detailed scrutiny of the development scope and competitive scenario of the regional fragments of the market.

The major companies Covered in the report are:

Johnson & Johnson Services, Inc., Apollo Endosurgery, Inc., Medtronic, USGI Medical, Inc., Cook Group, Ovesco Endoscopy AG, Endo Tools Therapeutics S.A., Stryker Corporation, B. Braun SE, and ErgoSuture.

The latest research study endows the reader with a comprehensive analysis of the product types of the global Endoluminal Suturing Devices market, categorizing the relevant information into the market share, production growth rate, and profit valuation of each product type. The study focuses on the wide-ranging application landscape of the market, segmenting it into the market share, estimated growth rate, and the forecast product demand for each application type.

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Emergen Research has segmented the global endoluminal suturing devices market on the basis of application, end-use, and region:

Application Outlook (Revenue, USD Million; 2019-2030)

Bariatric Surgery

Gastrointestinal Surgery

Gastroesophageal Reflux Disease Surgery

Others

End-Use Outlook (Revenue, USD Million; 2019-2030)

Hospitals and clinics

Ambulatory Surgical Centers

Others

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 Geographical Overview:

The latest report broadly categorizes the global Endoluminal Suturing Devices market into several geographical terrains, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The study is inclusive of essential information relevant to each region in this broad industry segment, along with the key drivers of the regional market growth.

The report further estimates the revenue accumulated by these regions over the forecast period.

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Endoluminal Suturing Devices Market Size Worth USD 193.3 Million in 2030