Endoscopic Clips Market: Global Share, Size, Growth, Trends & Outlook ( 2022 – 2032 )
Endoscopic Clips Market Insights
Endoscopic clips are small, specialized devices used during medical procedures like endoscopy to regulate bleeding or close off a neighborhood tissue. They're typically made from metal or polymer and are designed to be applied with precision to the targeted area using specialized tools. they're commonly utilized in gastrointestinal endoscopy procedures, where they will be wont to close off bleeding vessels or seal tissue after a biopsy or polyp removal. They'll even be utilized in other sorts of endoscopic procedures, like bronchoscopy, to regulate bleeding or close off air leaks.
Endoscopic Clips Market
The global endoscopic clips market was valued at approximately $921.4 million in 2022 and is predicted to grow at a compound annual rate of growth (CAGR) of 7.9% during the forecast period of 2023-2032 driven by the increasing prevalence of gastrointestinal disorders and cancer, rising geriatric population, and increasing preference for minimally invasive surgeries. The market is estimated to be worth $2.0 billion by 2032.
The metallic clips segment accounted for the bulk of the revenue in 2022, followed by the polymer clips segment. North America is the largest marketplace for endoscopic clips, followed by Europe and Asia Pacific attributed to factors like the high prevalence of gastrointestinal disorders and therefore the presence of an outsized number of key players within the region.
Some of the key players within the endoscopic clips market include Boston Scientific Corporation, Cook Medical, Olympus Corporation, CONMED Corporation, and Teleflex Incorporated, among others. These companies are investing in research and development activities to introduce new and innovative products and expand their presence within the market.
Endoscopic Clips Market Key Drivers
There are several key drivers behind the growth of the endoscopic clips market:
- Advancements in endoscopic technology: The event of latest and advanced endoscopic technologies, like narrow-band imaging and chromoendoscopy, are improving the accuracy of endoscopic procedures and increasing the demand for endoscopic clips.
- Growing geriatric population: The aging population is at a better risk of developing gastrointestinal disorders and cancer, which is increasing the demand for endoscopic procedures and endoscopic clips.
- Increasing preference for minimally invasive surgeries: Patients and healthcare providers are increasingly choosing minimally invasive surgical procedures, which have a lower risk of complications, shorter recovery times, and fewer scarring. Endoscopic procedures and endoscopic clips are a crucial part of this trend.
- Increasing prevalence of gastrointestinal disorders and cancer: The rising incidence of gastrointestinal disorders like colitis, regional enteritis, and colorectal cancer is driving the demand for endoscopic procedures, which successively is driving the demand for endoscopic clips.
- Technological advancements in endoscopic clip design: Manufacturers are developing new and improved endoscopic clip designs that provide better precision, control, and safety. this is often increasing the demand for endoscopic clips and driving the market growth.
Endoscopic Clips Market Key Trend & Development
Some of the key trends and developments in the endoscopic clips market include:
- Development of magnetic-assisted endoscopic clips: Magnetic-assisted endoscopic clips use magnetic fields to guide the clip to the targeted area, improving accuracy and reducing the danger of tissue damage.
- Focus on research and development: Key players within the market are investing heavily in research and development to introduce new and innovative products and improve existing technologies.
- Increased use of disposable endoscopic clips: Disposable endoscopic clips are getting more common thanks to their convenience, lower risk of infection, and cost-effectiveness.
- Integration of endoscopic clipping devices with endoscopes: Manufacturers are developing endoscopic clipping devices which will be integrated with endoscopes, allowing greater precision and control during procedures.
- The growing popularity of polymer clips: Polymer clips are gaining popularity thanks to their flexibility and lower risk of tissue damage compared to metallic clips.
Endoscopic Clips Market Segmentation
The endoscopic clips market can be segmented based on various factors, including:
- By Product Type
- Metallic Clips
- Polymer Clips
- By Application
- Gastrointestinal Endoscopy
- Laparoscopy
- Bronchoscopy
- By End-user
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- By Shape
- Hemostasis Clips
- Aneurysm Clips
- Closure Clips
- By Endoscope compatibility
- Gastroscopes
- Colonoscopes
- Bronchoscopes
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Endoscopic Clips Market Regional Synopsis
North America is the largest marketplace for endoscopic clips, accounting for the bulk of the revenue in 2022 with the USA being the most important contributor. The market size was approximately $400.3 million in 2022 and is predicted to grow at a CAGR of 7.8% during the forecast period of 2023-2032 driven by factors like the high prevalence of gastrointestinal disorders and cancer, and the presence of key players within the region. The market is estimated to be worth $848.3 million by 2032.
Europe is the second-largest marketplace for endoscopic clips, with a market size of roughly $252.1 million in 2022. The market is predicted to grow at a CAGR of 8.2% during the forecast period of 2023-2032, driven by factors like increasing demand for minimally invasive surgeries and growing healthcare expenditure within the region. The market is estimated to be worth $554.4 million by 2032.
The Asia Pacific region is predicted to be the fastest-growing marketplace for endoscopic clips, with a CAGR of 8.1% during the forecast period of 2023-2032. The market size within the region was approximately $170.0 million in 2022. Factors driving market growth within the region include increasing healthcare expenditure, a growing geriatric population, and the rising prevalence of gastrointestinal disorders and cancer. The market is estimated to be worth $370.4 million by 2032.
The Latin American endoscopic clips market is predicted to grow at a CAGR of 7.4% during the forecast period of 2023-2032, with a market size of roughly $64.3 million in 2022. Factors driving market growth within the region include increasing healthcare expenditure and the rising prevalence of gastrointestinal disorders. The market is estimated to be worth $131.3 million by 2032.
The Middle East & Africa endoscopic clips market is expected to grow at a CAGR of 7.8% during the forecast period of 2023-2032, with a market size of roughly $29.1 million in 2022. Factors driving market growth within the region include increasing healthcare expenditure and rising demand for minimally invasive surgeries. The market is estimated to be worth $61.7 million by 2032.
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Endoscopic Clips Market: Report Scope |
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Base Year Market Size |
2021 |
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Forecast Year Market Size |
2022-2032 |
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CAGR Value |
7.9% |
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Segmentation |
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Challenges |
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Growth Drivers |
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Endoscopic Clips Market Key Challenges
Some of the key challenges facing the endoscopic clips market include:
- High competition: The market is very competitive, with an outsized number of manufacturers offering similar products. This has led to cost pressure and reduced profit margins for manufacturers.
- Lack of skilled professionals: The utilization of endoscopic clips requires specialized training and expertise, which may limit the adoption of those devices in some regions thanks to a shortage of skilled professionals.
- Limited reimbursement policies: In many countries, reimbursement policies for endoscopic procedures are limited, which may reduce the adoption of endoscopic clips and limit the market growth.
- Potential complications: The utilization of endoscopic clips can cause complications like tissue damage, bleeding, and perforation, which may limit their adoption in some cases.
- Stringent regulatory requirements: Endoscopic clips are classified as medical devices and are subject to strict regulatory requirements in many countries. This will make it difficult and time-consuming for manufacturers to get regulatory approvals for their products.
Endoscopic Clips Market Key Global Players
The global endoscopic clips market is very competitive with lots of key players. These companies are investing heavily in research and development to develop new and innovative products, expanding their product portfolio, and adopting various strategies such as mergers and acquisitions, collaborations, and partnerships to strengthen their market position.
Some of the key global players in the endoscopic clips market include:
- B. Braun Melsungen AG
- Boston Scientific Corporation
- CONMED Corporation
- Cook Medical
- Ethicon
- Johnson & Johnson
- Medtronic plc
- Merit Medical Systems, Inc.
- Micro-Tech Endoscopy USA Inc.
- Olympus Corporation
- STERIS plc
- Teleflex Incorporated
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- Publication date: 19th September 2023
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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