(MENAFN- Ameliorate Digital Consultancy)
Endoscopic clips are medical devices that are used to treat gastrointestinal diseases. These clips are used in endoscopic procedures to close off bleeding or leaking vessels, as well as to secure tissue and organs during endoscopic surgeries. They are also used to remove polyps, tumors, or other unwanted tissue. The increasing prevalence of gastrointestinal diseases is one of the major factors driving the growth of the market. The global endoscopic clips market is anticipated to register a staggering CAGR of 7.3%, reaching a value of US$ 617.0 Mn.
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Such important developments in endoscopy are expected to leverage the market during the forecast period (2020-2026). Production of endoscopic clips is anticipated to plummet during the COVID-19 pandemic, owing to delay in elective procedures and subsequently a dip in demand.
Key Takeaways
North America is expected to become the most lucrative market, making for nearly 2/5 of the global market share. The most popular application of hemostatic endoscopy is due to its low cost and quick recovery. Asia Pacific is expected to develop at an astounding 7.6% CAGR.
Hemostasis to obtain about 47% of the whole market share
The key end users of the endoscopic clips market are anticipated to be hospitals.
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Broad Market Presence and Product Launches to Determine Competition Landscape
With Boston Scientific Corporation, Cook Medical, and Olympus Corporation as the top three market players, the endoscopic clips market is extremely consolidated globally. The primary strategies of the aforementioned market participants include a wide-ranging product portfolio, cross-selling opportunities, a strong market presence, and new product launches. The radiopaque Resolution Clip is made by Boston Scientific Corporation and is intended for hemostasis, endoscopic marking, closing, and anchoring of jejunal feeding tubes.
Endoscopes QuickClip2 Single-use Rotatable Clip Fixing Devices, QuickClip2 Long and EZ Clips are produced by Olympus Corporation, another market competitor. A number of advantages are provided by the QuickClip series, including precise rotation, which gives users exclusive control over the clip's orientation, greater strength and flexibility, simple penetration, and channel protection.
Cook Medical, the third competitor, produces endoscopic clips under the Instinct Endoscopic Hemoclip brand. This series is appropriate for endoscopic marking, hemostasis, and mucosal/submucosal defects in the upper GI tract that are less than 3 centimetres in length.
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Global Endoscopic Clips Market Segmentation
Fact.MR has studied the global endoscopic clips market with detailed segmentation on the basis of application, end-users and key regions.
By Application : Endoscopic marking Hemostasis: Mucosal/Sub-mucosal defects Bleeding ulcers Bleeding arteries Polypectomy sites
Others
By End-users : Ambulatory surgical centers Clinics Others
By Key Regions : North America Europe Asia Pacific (APAC) Latin America Middle East & Africa (MEA)
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