Global Endoscopic Closure Devices Market 2018-2022 | Growing Demand for Endoscopic Closure Devices to Treat Gastrointestinal Perforations | Technavio

November 12, 2018

LONDON--(BUSINESS WIRE)--Nov 12, 2018-- analysts forecast the global endoscopic closure devices market to grow at a CAGR of over 6% during the forecast period, according to their latest market research report.

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Technavio analysts forecast the global endoscopic closure devices market to grow at a CAGR of over 6% by 2023. (Graphic: Business Wire)

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According to Technavio analysts, one of the key factors contributing to the growth of the global endoscopic closure devices market is the increasing demand for endoscopic closure devices to treat gastrointestinal perforations:

Global endoscopic closure devices market: High growth potential in emerging economies

The emerging economies play a key role in driving the global endoscopic closure devices market. For instance, Boston Scientific is expanding its collaborations to include R&D teams in emerging markets such as Brazil, Russia, India, and China. These teams will focus on regional and global market requirements at a low cost of development. In addition, the company is investing in infrastructure in emerging economies to strengthen its sales and services capabilities and maximize its growth opportunities in these economies.

According to a senior analyst at Technavio for research on life science research tools, “Major vendors in the market are expanding their R&D teams and manufacturing facilities, which will improve the existing product portfolio and help in launching new products. These factors drive the market.”

Global endoscopic closure devices market: Segmentation analysis

The global endoscopic closure devices market research report provides market segmentation by product (endoscopic closure systems, endoscopic closure clips, and others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the two major products, the endoscopic closure system segment held the largest market share in 2018, contributing to 48% of the market. This product segment will dominate the global market throughout the forecast period.

The Americas held the largest share of the market in 2018, accounting for 48% share. It was followed by EMEA and APAC respectively. North America is the major revenue contributor in this region. The market growth is attributed to the factors such as the increasing demand for endoscopic closure devices and high adoption of MI surgical procedures.

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Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

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SOURCE: Technavio Research

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