Endoscopic Clips Market Forecast to Grow From USD 379.20 million Value in 2021 to About USD 559.57 million by 2028 | ZMR

The global endoscopic clips market size is estimated to grow to about USD 559.57 million by 2028, with a CAGR of approx 6.70 % over the forecast period

SUITE N202, NEW YORK, UNITED STATES, December 7, 2022 /EINPresswire.com/ -- The Global Endoscopic Clips Market is segregated based on application, end-user, and region. By application, the market is divided into endoscopic marking, hemostasis, and others. Among these, the endoscopic marking segment dominates the market due to its wide usage in various surgical interventions to treat bleeding arteries, ulcers, polypectomy, and others. By end-use, the market is classified into hospitals, ambulatory surgical centers, clinics, and others. The hospital segment dominates the market owing to increasing volume through collaboration with hospitals and research institutes to develop advanced surgical procedures. This is expected to drive demand in this segment and global endoscopic clips during the forecast period. North America dominated the global endoscopic clip market, followed by Europe and the Asia Pacific.

The growing demand for high-quality treatments, the popularity of endoscopy equipment, and technological advances are driving market growth in these regions. In addition, increased medical costs, favorable reimbursement policies, increased prevalence of gastrointestinal disorders, and an aging population are expected to drive markets in these regions during the forecast period. Asia Pacific is an emerging market for endoscopic clips. Population growth, increased disposable income, and the expansion of key regional players are expected to drive market growth in the Asia-Pacific region. Key players in the global endoscopic clips market include Cook Endoscopy, Olympus America, Boston Scientific Corporation, CONMED Corporation, Medtronic, and Ovesco Endoscopy AG. Browse the full “Endoscopic Clips Market By Application (Endoscopic Marking, Hemostasis, and Others), by End-user (Hospitals, Ambulatory Surgical Centers, Clinics, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/endoscopic-clips-market-global-industry-analysis-size-share

Recent developments:

In March 2021, Boston Scientific Corporation acquired a subsidiary of Baring Private Equity Asia (BPEA) and Lumenis Ltd., a privately held company that develops and commercializes energy-based healthcare solutions in advance. Announced that it has signed a formal contract to do so. The payment has been completed for $ 1.07 billion. With this acquisition, the company expected net sales of $ 200 million in 2021.

STERIS Corporation, a leading provider of endoscopic devices, acquired Aponos Medical in April 2017. Steris has added the Padlock Clip System to its existing endoscopic device product portfolio with this acquisition.

According to the Centers for Disease Control and Prevention, as of 2020, there will be about 75 million endoscopies each year in the United States, of which about 68% will be GI endoscopies.

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The global endoscopic clips market is segmented as follows:

By Application

Endoscopic Marking
Hemostasis
Others

By End-user

Hospitals
Ambulatory Surgical Centers
Clinics
Others

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Global Endoscopic Clips Market Consulting Firms & Research Institutes
Industry Leaders & Companies aims to enter the Endoscopic Clips market
Universities and Student
Service Providers, Product Providers, Solution Providers, and other players in the Endoscopic Clips market
Government Bodies and Associated Private Firms
Individuals interested to learn about the Endoscopic Clips market

By Region

North America

The U.S.
Canada

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC
South Africa
Rest of the Middle East & Africa

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Key Insights:

The global endoscopic clips market was worth around USD 379.20 Million in 2021 and is estimated to grow to about USD 559.57 Million by 2028, with a compound annual growth rate (CAGR) of approximately 6.70 percent over the forecast period.

The global epidemic of gastrointestinal (GI) hemorrhagic diseases such as colon & pancreatic cancer, inflammatory bowel disease, gastroesophageal reflux disease (GERD), cardiovascular bleeding, and gastrointestinal bleeding is expected to drive market growth.

Side effects of using endoscopic clips such as severe abdominal pain and severe rectal bleeding may impede market growth.
Hospitals have the highest market share due to the growing preference for minimally invasive surgery.

Increased arterial bleeding and gastrointestinal surgery in heart disease patients in the United States will drive North America market growth during the forecast period.

Endoscopic Clips Market: Growth Drivers

Rising adoption of minimally invasive therapies is expected to drive the global market growth

Endoscopic surgery has made great strides as endoscopic imaging has become a major technique for detecting and treating chronic and acute diseases due to its unique ability to target difficult-to-reach areas. Minimally invasive surgery has evolved into highly accurate, delicate and less invasive surgery. It also contributes to the global endoscopic clips market growth with benefits such as shorter hospital stays, reduced costs, improved patient experience, and faster recovery. According to Olympus Medical, more than 22.5 million outpatients in the United States undergo upper gastrointestinal endoscopy each year, with approximately 527,000 clips placed during these surgeries. This is expected to drive market growth, coupled with the benefits provided by advanced clipping features such as improved vision, better lesion access, and lower procedural costs.

Endoscopic Clips Market: Restraints

Side effects due to the usage of endoscopic clips is likely to hamper the market growth

According to the American Journal of Roentgenology, side effects from using endoscopic clips such as severe abdominal pain, heavy rectal bleeding, fever, chills, sweating, and safety issues are the biggest concerns at most centers. Up to 36% can be continued if certain conditions are met. For example, 16% schedule MRI more than 6 weeks after endoscopy, but there is evidence that some endoscopic clips, such as resolution clip models, can stay in the human intestine for up to 33 weeks. Similarly, 18% of centers perform MRI with magnetic field strengths limited to 1.5 T. Still, studies show that even these weak magnetic fields interact with some endoscopic clip models and in some cases it can be separated from the intestinal wall. Several different safety measures have been reported for patients undergoing MRI with endoscopic clips, but they are ultimately used only in a small part of the center, which may act as a limiting factor for market growth.

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Varsharani Lavate
Zion Market Research
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