Its expansion has been attributed to the rising prevalence of gastrointestinal diseases.
Technavio said it is expected that the global endoscopic closure equipment market will grow to US$825.7 million by 2029, with a compound annual growth rate of nearly 8%.
The expansion of the industry is attributed to the rising prevalence of gastrointestinal disorders such as inflammation, neoplastic fistulas, and perforations.
“Endoscopic closure systems, including endoscopic clips, suturing systems, and bioabsorbable plugs, provide non-surgical alternatives for wound closure in cases of leaks, fistulas, perforations, abscesses, and arterial bleeding,” the report states.
Their use extends to endoscopic surgery and treatment in ambulatory care centers for cardiac patients, helping to shorten hospital stays and reduce postoperative complications.
The market is also driven by technological developments such as robotic systems, artificial intelligence, and nanotechnology.
At the same time, advanced imaging, tissue granulation and vacuum technologies are considered to improve patient outcomes.
