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endoluminal suturing devices market size was USD 518.95 Million in 2022 and is expected to register a rapid revenue CAGR of 7% during the forecast period.

NEW YORK, NY, UNITED STATES, May 3, 2023 /EINPresswire.com/ -- The global Endoluminal Suturing Devices Market was valued at USD 518.95 million in 2022 and is expected to grow at a rapid rate of 7% during the forecast period. The increasing popularity of minimally invasive weight loss procedures and the growing prevalence of lifestyle-associated diseases are the main drivers of this market's revenue growth. Endoluminal suturing devices are used in various minimally invasive treatments on hollow organs that require surgical techniques such as stapling and suturing.

Two examples of endoscopic procedures that use endoluminal suturing devices to seal incisions or punctures caused during surgery are Transoral Incisionless Fundoplication (TIF) and Endoscopic Sleeve Gastroplasty (ESG). These procedures are becoming more popular because they are non-invasive and minimally invasive. Therefore, endoluminal suturing tools are being used more frequently in bariatric and gastrointestinal procedures.

Furthermore, the rising demand for endoscopic suturing tools for the treatment of Gastroesophageal Reflux Disease (GERD) and hiatal hernias is another factor driving revenue growth in the market. Endoluminal suturing devices are used to treat GERD, a chronic condition that affects millions of people worldwide, by tightening the lower esophageal sphincter. Endoscopic suturing devices are also used to treat hiatal hernias, a prevalent ailment that affects a significant portion of the population, by closing the opening in the diaphragm through which the esophagus travels.

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Segments Covered in the Report

The global market for endoluminal suturing devices can be segmented by product type and application.

In terms of product type, the market can be divided into single-use and reusable devices. Single-use devices are designed for a one-time use and are disposed of after the procedure, while reusable devices can be sterilized and used multiple times. Both types of devices have their advantages and disadvantages, and the choice depends on the specific procedure and the surgeon's preference.

When it comes to application, the market can be categorized into bariatric surgery, gastrointestinal (GI) surgery, and others. Bariatric surgery refers to surgical procedures that aid in weight loss and include gastric bypass, gastric sleeve, and laparoscopic adjustable gastric banding. Gastrointestinal surgery involves the treatment of conditions affecting the digestive system, such as esophageal cancer, diverticulitis, and inflammatory bowel disease. The "others" category includes procedures such as gallbladder removal and appendectomy.

The demand for endoluminal suturing devices is increasing in bariatric and gastrointestinal surgeries due to their minimally invasive nature, which results in shorter hospital stays, faster recovery times, and reduced scarring. Endoluminal suturing devices are particularly useful in surgeries involving hollow organs that require precise suturing, such as the stomach and intestines.

In conclusion, the global market for endoluminal suturing devices can be segmented by product type into single-use and reusable devices and by application into bariatric surgery, gastrointestinal surgery, and others. The increasing popularity of minimally invasive procedures and the growing prevalence of lifestyle-associated diseases are driving the market's revenue growth. Endoluminal suturing devices are becoming more widely used in surgical procedures, and their demand is expected to continue to grow in the future.

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Strategic development:

In recent years, the medical technology industry has seen a number of acquisitions aimed at expanding product offerings and improving patient outcomes.
On September 21, 2021, Boston Scientific Corporation acquired Devoro Medical, a company that specializes in creating minimally invasive technology for the treatment of various gastrointestinal disorders. This acquisition will enable Boston Scientific to expand its product line, providing physicians with more options for treating their patients. By integrating Devoro Medical's innovative technology into its existing portfolio, Boston Scientific will be able to offer more advanced solutions to its customers.
Similarly, on February 17, 2020, Medtronic plc. acquired Digital Surgery, a business that focuses on creating digital tools for surgical education and training. This acquisition will allow Medtronic to expand its selection of surgical solutions while also providing physicians with access to cutting-edge training and educational tools. Digital Surgery's advanced technology will complement Medtronic's existing portfolio, helping the company to provide more comprehensive solutions to its customers.
These acquisitions demonstrate the medical technology industry's commitment to innovation and improving patient outcomes. By acquiring companies with unique technologies and capabilities, firms such as Boston Scientific and Medtronic are better positioned to meet the needs of patients and healthcare providers, while also driving growth and expanding their market share.

 Competitive Landscape:

The global endoluminal suturing devices market is a competitive space with several major players vying for market share. These players offer a range of endoscopic surgical tools and equipment designed to provide minimally invasive treatment options for various gastrointestinal disorders.

Some of the leading players in this market include Apollo Endosurgery, Inc., Boston Scientific Corporation, Cook Medical, EndoEvolution, LLC, Ethicon US, LLC (a subsidiary of Johnson & Johnson), Medtronic plc, Olympus Corporation, Sewa Medicals Limited, and Teleflex Incorporated.

These companies are at the forefront of innovation in the medical technology industry, developing new and advanced technologies to meet the needs of patients and healthcare providers. They offer a wide range of endoscopic surgical tools and devices, including endoluminal suturing devices, that are used in a variety of procedures such as bariatric surgery, gastrointestinal surgery, and treatment of gastroesophageal reflux disease (GERD) and hiatal hernias.

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To stay ahead of the competition, these companies invest heavily in research and development to create cutting-edge technologies that provide better patient outcomes. They also engage in strategic partnerships and acquisitions to expand their product offerings and strengthen their market position.

Overall, the global endoluminal suturing devices market is a dynamic and competitive space, with several leading players driving innovation and growth in the industry.

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