Endoscopic Clips Market to Register a CAGR of 7.1% Between 2018 and 2026
Transparency Market Research (TMR) has published a new report titled, “Endoscopic Clips Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global endoscopic clips market was valued at US$ 355.5 Mn in 2018 and is projected to expand at a CAGR of 7.1% from 2018 to 2026. Inclination toward minimally invasive procedures, wide usage of endoscopic clips for hemostasis, and rise in acceptance of endoscopic clips are anticipated to boost the growth of the global market from 2018 to 2026.
Endoscopic clips are specialized instruments. These clips are designed to achieve tissue approximation in gastrointestinal endoscopy. These were first introduced for the sole purpose of achieving hemostasis of gastrointestinal bleeding, especially peptic ulcer bleeding.
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Technological Advancements and Popularity of Minimally Invasive Surgeries to Augment Global Market
Advanced techniques are being developed to minimize hospital stay, side effects, and improve quality of life. Shift from traditional methods/surgeries to minimally invasive surgeries (MIS) is a significant revolutionary step. Minimally invasive surgical procedures such as endoscopy offer advantages such as less pain, faster recovery, small incision, reduced blood loss, and cost savings. However, skilled surgeons are required because the process involves challenges such as restricted vision, difficulty in handling instruments, and proper hand-eye coordination.
In order to increase the adoption of endoscopy devices, manufacturers conduct various training programs for medical professionals on the use of these devices. Numerous research studies have also demonstrated the advantages of MIS over open surgeries. Most manufacturers train surgeons to perform minimally invasive or endoscopy surgeries. This helps the surgeons to acquire hands-on experience in using the devices and performing surgeries. This is an upcoming trend and is expected to have a moderate impact on the market in the near future.
Increase in Geriatric Population and Demand for Endoscopic Clips for Hemostasis
The global population is aging rapidly. According to the WHO, nearly 2 billion people will be aged 60 years and above by 2050, accounting for around 16.7% of the global population. The population in developed countries such as Japan, the U.S., and countries in Western Europe is aging at a faster rate. This is attributed to better health care infrastructure and polices and adoption of techniques new endoscopic techniques. Additionally, access to various diagnostic and treatment services has improved in these regions in the past few years. This, in turn, has increased the life expectancy of the overall population.
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The incidence and prevalence of gastrointestinal diseases (GI) such as colorectal and pancreatic cancers, inflammatory bowels disease, and gastroesophageal reflux disease (GERD) increase with age. Several of these conditions can be diagnosed or cured using endoscopy procedures, and some of these are minimally invasive procedures. For example, capsule endoscopy is safe for all age groups. Bleeding of ulcers could occur in many cases. Endoscopic clips can be used to achieve hemostasis in various conditions such as lesions, gastric tumors, Mallory Weiss tears, ulcers, small varices, arteriovenous malformations, and diverticula.
Endoscopic clips have been used in the past few years for non-hemostatic conditions such as closure of perforations in the GI tract, prevention of post EMR bleeding & post-polypectomy, and attachment of feeding tubes.
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