Rockville, March 22, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, the global endoscopic clips market is estimated to grow at a CAGR of 7.4%, totaling US$ 617.0 Mn by the end of 2033. The growing incidence of inflammatory bowels, colorectal and gastroesophageal diseases are pushing demand for endoscopic clips. Also, endoscopic clips are widely used in the treatment of hemostasis-related problems such as bleeding arteries and ulcers which is further presenting a positive demand outlook.
Among various applications, the hemostasis segment is anticipated to account for the leading share in the market. Demand in the segment will continue rising as endoscopic clips offer good muscular adherence and tissue retention. Despite this, Fact.MR has projected the endoscopic marking segment to remain dominant through the forecast period owing to their increasing use in surgical procedures.
Among various end users, hospitals are estimated to channel the majority revenue backed by high patient footfall and a rising number of surgical procedures. Demand for advanced technologies to offer improved patient care and ensure shorter hospital stays will fuel the demand for endoscopic clips in hospitals.
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Thanks research initiatives undertaken in the last few years, some of the leading companies were able to acquire approval from international organizations. For instance, Johnson & Johnson acquired critical pre-market approval for using computer-aided surgical sedation devices in endoscopic procedures.
Advent of robot assisted endoscopic procedures has enabled paradigm shift in the endoscopic devices market. These developments are at the epicenter of the rising demand for endoscopic clips.
Regionally, North America is projected to retain its dominance on account of increasing investments in research and development activities along with the robust presence of key market players. As per Fact.MR, North America is estimated to account for 2/5th of the overall market share.
The ongoing COVID-19 pandemic has significant consequences on the endoscopic clips market. In general, endoscopy departments face a significant risk for the diffusion of respiratory diseases that can be spread through an airborne route. This includes aspirations of oral and fecal material via endoscopes.
Important endoscopic clips manufacturers are taking considerable precautions. Cook Medical, a leading endoscopic clips market player, is ensuring that critical medical supplies are not disrupted. Employees are encouraged to work remotely and any outside visits to the manufacturing facility are strongly discouraged.
Key takeaways:
- North America is expected to capture almost two-fifth of the market share, expanding the market size at a CAGR of 7% during the forecast period.
- The Asia-Pacific region, is set to expand the market size at a CAGR of 7.6% throughout the forecast period.
- By application, the Hemostasis segment is projected to account for almost half the endoscopic market share, expanding market size at a CAGR of 7.8%.
- By application, the Endoscopic Markers segment, is anticipated to expand market size at a CAGR of 7.5% during the forecast period.
Growth Drivers:
- The global endoscopic clips market is bolstered by rapid technological advancements in imaging techniques.
- Introduction of automation and robotics in endoscopic surgeries is anticipated to provide a tremendous increase in the endoscopic clips market.
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| Report Attributes | Details |
| Endoscopic Clips Market Size (2023) | US$ 487.5 Million |
| Projected Market Value (2033F) | US$ 997.2 Million |
| Global Market Growth Rate (2023 to 2033) | 7.4% CAGR |
| Market Share of Endoscopic Marking (2033F) | ~30% |
| North America Market Growth Rate (2023 to 2033) | 7% CAGR |
| No. of Pages | 170 Pages |
| No. of Tables | 26 Tables |
| No. of Figures | 74 Figures |
Competitive Landscape
Leading endoscopic clip manufacturers are focusing on launching new products with advanced capabilities that are estimated to promote their sales potential and drive revenue generation over the coming years.
- In March 2022, MicroPort Urocare Medical Technology (Jiaxing) Co. Ltd., a subsidiary of MicroPort Scientific Corporation dedicated to the production and sales of diagnostic and treatment devices for gastrointestinal interventions, urology, etc., announced that it had received marketing approval for its Ruyi Clip. China’s National Medical Products Administration (NMPA) approved the single-use hemostatic clip device and opened up commercialization opportunities for the company.
- In January 2022, Cook Medical, an American manufacturer of medical devices, unveiled its Instinct Plus Endoscopic Clipping Device with better functionality and extended indications.
- In July 2020, Olympus, a leading name in the endoscopy marketplace, announced the commercial availability of its EZ Clip endotherapy device, which is a rotatable and reloadable hemostasis clip designed to control bleeding and defect closure in gastrointestinal procedures.
Key Companies Profiled
- CONMED Corporation
- Boston Scientific Corporation
- Ovesco Endoscopy AG
- Cook Medical
- Olympus Corporation
- Medtronic
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Key Segments of Endoscopic Clips Industry Research
- By Application :
- Endoscopic Marking
- Hemostasis
- Mucosal/Sub-mucosal Defects
- Bleeding Ulcers
- Bleeding Arteries
- Polypectomy Sites
- Others
- By End User :
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Others
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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