Endoscopic Clips Market Size, Share, Industry Trends and Forecast to 2030

Endoscopic Clips Market Size & CAGR in 2021

The global endoscopic clips market is estimated to have reached a value of USD 455 million in 2021, with a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period from 2021 to 2028. The market is expected to expand further and reach USD 605 million by 2028.

COVID-19 Impact on the Endoscopic Clips Market

The COVID-19 pandemic has had a significant impact on the endoscopic clips market. The disruption in healthcare services due to the pandemic led to a temporary decline in the demand for endoscopic procedures, affecting the market growth. However, as healthcare services resume and the focus on minimally invasive procedures increases, the market is expected to rebound and grow steadily in the coming years.

Endoscopic Clips Dynamics

The global endoscopic clips market is driven by the increasing prevalence of gastrointestinal disorders, the growing adoption of minimally invasive procedures, and advancements in endoscopic technologies. The market is also influenced by the rise in healthcare expenditure, the growing geriatric population, and the increasing awareness about the benefits of endoscopic procedures.

Segments and Related Analysis

Endoscopic Clips Market by Product Type

The endoscopic clips market is segmented into hemostasis clips, ligating clips, and others. Hemostasis clips segment is expected to dominate the market due to their wide application in endoscopic procedures for bleeding control.

Endoscopic Clips Market by Application

The endoscopic clips market is segmented into gastrointestinal endoscopy, laparoscopy, and others. The gastrointestinal endoscopy segment is anticipated to hold the largest market share due to the increasing incidence of gastrointestinal disorders.

By Region Analysis

North America

North America is expected to lead the global endoscopic clips market due to the presence of advanced healthcare infrastructure, high adoption of minimally invasive procedures, and increasing investments in research and development.

Europe

Europe is anticipated to witness significant growth in the endoscopic clips market owing to the rising prevalence of gastrointestinal disorders, favorable reimbursement policies, and technological advancements in endoscopic devices.

Asia Pacific

The Asia Pacific region is projected to experience rapid growth in the endoscopic clips market due to the increasing healthcare expenditure, rising demand for minimally invasive procedures, and the expanding geriatric population.

Latin America

Latin America is expected to witness steady growth in the endoscopic clips market due to improving healthcare infrastructure, increasing awareness about endoscopic procedures, and rising adoption of advanced medical technologies.

Middle East and Africa

The Middle East and Africa region are likely to show promising growth in the endoscopic clips market due to the rising prevalence of gastrointestinal diseases, improving healthcare facilities, and growing investments in the healthcare sector.

Key Market Players and Competitive Landscape

The key market players in the endoscopic clips market include Boston Scientific Corporation, Olympus Corporation, Cook Medical, CONMED Corporation, and Applied Medical Resources Corporation. These players focus on product innovations, strategic collaborations, and mergers and acquisitions to enhance their market presence and expand their product offerings.

Recent Happenings in the Endoscopic Clips Market

1. In August 2021, Boston Scientific Corporation launched a new range of endoscopic clips with enhanced features for better clinical outcomes. 2. In September 2021, Olympus Corporation introduced a novel endoscopic clip delivery system to improve the efficiency of endoscopic procedures and enhance patient care. 3. In November 2021, Cook Medical announced the expansion of its endoscopic clips portfolio with the launch of advanced hemostasis clips for better bleeding control during endoscopic interventions.