Endoscopic Clips Market: Current Analysis and Forecast (2022-2028)

Endoscopic Clips Market: Current Analysis and Forecast (2022-2028)

Endoscopy is a medical process that permits a doctor to investigate and observe the body without performing any major surgery. Endoscopic clips are specialized instruments used during gastrointestinal endoscopy to approximate tissue. The majority of the time, they are employed in the management of conditions like gastrointestinal bleeding and peptic ulcer hemorrhage. The endoscopy clips market is expected to witness a robust CAGR of ~7% during the forecast period owing to the rising prevalence of gastroesophageal reflux diseases, celiac disease, cardiology, neurology, orthopedic surgeries, and inflammation cases worldwide. In addition, the high prevalence of gastrointestinal infectious diseases and chronic pain associated with such diseases is unbearable and doctors prefer endoscopy to diagnose the related issues for effective treatment options. Because of the rise in such diseases, the market is expected to grow during the forecast period. For instance, according to a research study conducted in 2019, the global prevalence of peptic ulcer disease (PUD) was approximately 8 million, representing a 25.82% increase from 1990.

• Based on application, the market is segmented into endoscopic marking, hemostasis, and others. The hemostasis segment is further sub-segmented into mucosal/submucosal defects, bleeding ulcers, bleeding arteries, and polypectomy sites. Among them, in 2020, the hemostasis category dominated the market and is expected to maintain its dominance throughout the forecast period. This is mainly due to the rising incidence of patients suffering from gastroesophageal reflux diseases (GERD), celiac disease, and other gastrointestinal diseases owing to unhealthy eating habits worldwide. For instance, according to reported data from the Center For Science, in 2020, unhealthy diets contributed to approximately 678,000 deaths each year in the U.S.
• Based on end-user, the market is segmented into hospitals & clinics, ambulatory surgical centers, and others. In 2020, the hospitals & clinics category accounted for the majority share during the forecast period owing to the rising adoption of endoscopy equipment in hospitals, increasing government and private funding in the healthcare sector, as well as the greater availability of skilled healthcare professionals and technologically advanced facilities, and the increasing number of hospitals, which are driving the category’s growth.
• For a better understanding of the market adoption of the endoscopic clips industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America held a major market share owing to the rising prevalence of GERD, growing awareness, and well-established medical infrastructure and facilities. For instance, according to the National Institutes of Health (NIH), researchers estimated that about 20% of people in the United States have gastroesophageal reflux disease (GERD).
• Some of the major players operating in the market include B. Braun Melsungen AG, Boston Scientific Corporation, Johnson & Johnson, STERIS plc, Conmed Corporation, Medtronic, Cook Group, Olympus Corporation, Teleflex, and Ovesco Endoscopy AG.