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Endoscopic Closure Devices Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Feb 2021
  • Pages: 120
  • SKU: IRTNTR41161
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The endoscopic closure devices market size has the potential to grow by USD 579.00 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.88%. 

This report provides a detailed analysis of the market by product (endoscopic closure systems, endoscopic clips, and others), geography (North America, Europe, Asia, and ROW), and key vendors. 

Market Overview

Endoscopic-Closure-Devices-Market-Market-Size-2020-2025

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • Abbott Laboratories
  • B. Braun Melsungen AG
  • Boston Scientific Corp.
  • Cardinal Health Inc.
  • Johnson & Johnson
  • Medtronic Plc
  • Olympus Corp.
  • STERIS Plc
  • Teleflex Inc.
  • The Cooper Companies Inc.

 

The endoscopic closure devices market is fragmented and the vendors are deploying growth strategies such as R&D, technological innovations, market expansion, investments, and distribution networks to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as the growing demand for endoscopic closure devices to treat gastrointestinal perforations to achieve growth opportunities. However, factors such as the availability of substitutes will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the endoscopic closure devices market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This endoscopic closure devices market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Endoscopic Closure Devices Market: Key Drivers and Trends

  • The growing demand for endoscopic closure devices to treat gastrointestinal perforations will drive endoscopic closure devices market growth.
  • The use of endoscopic closure devices is gaining prominence among physicians and patients over the past few years.
  • Gastrointestinal perforations need to be treated promptly with endoscopy surgery, due to high risks of morbidity and mortality. These perforations can be treated with surgery and endoscopic therapy.
  • With the rise in diagnostic endoscopy procedures and endoscopy surgery, there is a high demand for endoscopic closure devices. 
  • The advancements in endoscopic closure devices technology will further stimulate market growth.
  • Market vendors are investing significantly in R&D to develop and launch devices that are precise, safe, efficient, maneuverable, have improved ergonomics, and intuitive user interface.
  • The improvements in designs have resulted in more reliable results from these devices and are contributing to the demand for advanced endoscopic closure devices. 

 

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Endoscopic Closure Devices Market: Segmentation by Geography

Endoscopic-Closure-Devices-Market-Market-Share-by-Region-2020-2025

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39% of the market’s growth will originate from North America during the forecast period. The US is a key market for endoscopic closure devices in North America. However, market growth in North America will be slower than the growth of the market in other regions.

The high adoption of technology, increasing prevalence and incidences of chronic diseases, growing geriatric population, availability of reimbursement for endoscopic procedures, and the growing presence of prominent vendors will facilitate the endoscopic closure devices market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Endoscopic Closure Devices Market: Segmentation by Product

Endoscopic-Closure-Devices-Market-Market-Share-by-Product-2020-2025

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The endoscopic closure systems segment includes over-the-scope clips (OTSCs) and endoscopic suturing systems. Factors such as the increasing incidences of GI diseases and the rising technological advances to develop new endoscopic closure systems drive the market. In addition, the increasing number of diagnostic and therapeutic endoscopic procedures such as EMR, ESD, and full-thickness resection of subepithelial tumors is also fueling the demand for endoscopic closure systems. The endoscopic closure devices market share growth by the endoscopic closure system segment will be faster than the endoscopic clips and other segments. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the endoscopic closure devices market size.

 

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Endoscopic Closure Devices Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive endoscopic closure devices market growth during the next five years
  • Precise estimation of the endoscopic closure devices market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the endoscopic closure devices industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of endoscopic closure devices market vendors

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Endoscopic Closure Devices Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7%

Market growth 2021-2025

$ 579.00 million

Market structure

Fragmented

YoY growth (%)

6.02

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 39%

Key consumer countries

US, Germany, Japan, France, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corp., Cardinal Health Inc., Johnson & Johnson, Medtronic Plc, Olympus Corp., STERIS Plc, Teleflex Inc., and The Cooper Companies Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Endoscopic closure systems - Market size and forecast 2020-2025
  • Endoscopic clips - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by Product
  • COVID-19 impact and recovery for product segment

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • Asia - Market size and forecast 2020-2025
  • ROW - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Volume drivers – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Abbott Laboratories
  • B. Braun Melsungen AG
  • Boston Scientific Corp.
  • Cardinal Health Inc.
  • Johnson & Johnson
  • Medtronic Plc
  • Olympus Corp.
  • STERIS Plc
  • Teleflex Inc.
  • The Cooper Companies Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Endoscopic Closure Devices market growth will increase by $579.00 million during 2020-2025.
The endoscopic closure devices market is expected to grow at a CAGR of 6.88% during 2020-2025.
Technavio has segmented the endoscopic closure devices market by product (Endoscopic closure systems, Endoscopic clips, and Others) and geographic (North America, Europe, Asia, and ROW).
Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corp., Cardinal Health Inc., Johnson & Johnson, Medtronic Plc, Olympus Corp., STERIS Plc, Teleflex Inc., The Cooper Companies Inc. are a few of the key vendors in the endoscopic closure devices market.
North America will register the highest growth rate of 39.21% among the other regions. Therefore, the endoscopic closure devices market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the endoscopic closure devices market growth are:
  • Increasing prevalence and incidences of chronic diseases
  • Technological advances in endoscopic devices
The endoscopic closure devices market vendors should focus on grabbing business opportunities from the endoscopic closure systems segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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