A key factor driving the growth of the global endoscopic clips market size is the growing adoption of MI techniques in developed countries. MIS procedures are gaining immense popularity as they are relatively safe and quick in comparison to general surgery. These procedures involve small incisions, minimal bleeding, and fast recovery due to which they can be performed in an out-patient setting. Thus, the growing popularity of MI surgeries will have a significant impact on the endoscopic clips market growth during the forecast period.
As per Technavio, the growing focus on advances in endoscopic clips will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global endoscopic clips market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Endoscopic Clips Market: Growing Focus on Advances in Endoscopic Clips
The endoscopic clips market is witnessing significant advances with vendors focusing on product development to improve surgical efficacy. Vendors are developing endoscopic clips that can rotate 360 degrees to facilitate fast and accurate placement. Endoscopic clip manufacturers are also developing MRI-conditional endoscopic clips to ensure patient safety. Such advances in products will stimulate the demand for endoscopic clips during the forecast period.
“Apart from the growing focus on advances in endoscopic clips, other factors such as the rising adoption of innovative business strategies by vendors, and the increase in funding for GI research studies will have a significant impact on the growth of the endoscopic clips market value during the forecast period,” says a senior analyst at Technavio.
Global Endoscopic Clips Market: Segmentation Analysis
This market research report segments the global endoscopic clips market by end-user (hospitals clinics, and physicians’ office, and ASCs), and geographic regions (North America, Europe, Asia, and ROW).
North America led the endoscopic clips market in 2018, followed by Europe, Asia, and ROW respectively. The dominance of the endoscopic clips market share in North America can be attributed to factors such as the growing geriatric population, increasing prevalence of GI disorders, reimbursements for endoscopic procedures, and new product launches.
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Five Forces Analysis
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