Endoluminal Suturing Devices Market: Overview
Endoluminal suturing devices are used in various minimally invasive surgeries in hollow organs that require utilization of surgical procedures such as stapling and suturing. Growing prevalence of obesity in various developed economies along with rising prevalence of obesity related health conditions is anticipated to foster growth in the global endoluminal suturing devices market over the forecast period of 2021 to 2031. Products offered by the players and manufacturers operating within the global endoluminal suturing devices market are used for various applications, such as bariatric surgeries, gastroesophageal reflux diseases, and gastrointestinal defects.
High adoption of mostly sedentary lifestyle as well as patterns of alcohol abuse and unhealthy diets are observed to result in the increasing instances of gastrointestinal defects. This trend is anticipated to aid in the expansion of the global endoluminal suturing devices market in years to come. Furthermore, increasing incidence of various chronic ailments across the globe is also anticipated to fuel the expansion opportunities in the global endoluminal suturing devices market over the forecast period of 2021 to 2031. Major end users for the products in the global endoluminal suturing devices market are ambulatory surgical centers and hospitals.
Factors Likely to Augment Endoluminal Suturing Devices Sales
According to the World Health Organization, the prevalence of chronic diseases is rising every year, increasing the burden on the pharmaceutical as well as healthcare industries. They observe, that in the United States, over 51.8 % of adult population is living with at least on chronic disease. Furthermore, a whopping 27.2 % of adults in the United States reported suffering from multiple chronic health conditions. This high prevalence of chronic disorders is anticipated to offer players in the global endoluminal suturing devices market with lucrative expansion opportunities during the forecast period i.e. 2021 to 2031.
Moreover, rising prevalence of various gastrointestinal diseases, including gastrointestinal defects as well as functional gastrointestinal disorder, is also anticipated to augment the endoluminal suturing devices sales during the forecast period. The functional gastrointestinal disorder is considered a chronic ailment with severe symptoms such as heartburn, chronic constipation, irritable bowel symptoms, acid reflux, dyspepsia, abdominal distention, and bloating. Furthermore, growing awareness as well as increasing consumer preference regarding the minimally invasive surgical procedures is also anticipated to bolster the upward trajectory of the global endoluminal suturing devices market in coming years.
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Regional Landscape of the Global Endoluminal Suturing Devices Market
Geographically, North America region is expected to witness significant growth in the global endoluminal suturing devices market over the forecast period. This trend can be attributed to increasing instances of bariatric surgery owing to rising occurrence of overweight and obesity problems and relevant health conditions amongst regional population. Some other factors fueling the growth in the North America global endoluminal suturing devices market include high adoption of sedentary lifestyle, unhealthy eating habits, and drug and alcohol abuse among the population.
Key Manufacturers and Players in Endoluminal Suturing Devices Market
Few of the key incumbent players operating within the global endoluminal suturing devices market include Medtronic PLC, Johnson and Johnson, and Apollo Endo-surgery, among others. Majority of players in the global endoluminal suturing devices market are increasingly focusing on various strategies such as mergers and acquisitions, collaborations, and new product launches to expand their business operations in order to increase their revenue over the forecast period. For instance, Apollo Endo-surgery announced the commercial shipment of their new endoscopic suturing device system in the November of the year 2018. The system is called ‘OverStitch’ and it can be used in treatment of various gastroesophageal disorders as well as in bariatric surgical procedures.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
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The following regional segments are covered comprehensively:
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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