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Hemostatic clips are expected to significantly increase the market for endoscopic consumables.

2024-04-12

Digestive endoscopy consumables include biopsy forceps, injection needles, clip devices, etc., which are usually used in conjunction with endoscopes to complete specific diagnostic and therapeutic procedures. According to different materials and functions, endoscopic consumables can be further divided into metal endoscopes, plastic endoscopes, electronic endoscopes, optical endoscopes, etc.


The global market for digestive endoscope consumables started in the 1980s and has undergone decades of rapid development. According to relevant data, the global market size of digestive endoscope consumables has reached about 20 billion US dollars in 2019, and is expected to reach 30 billion US dollars by 2024, with a compound annual growth rate of about 8%. This growth is mainly due to the increasing prevalence of digestive system diseases and the continuous advancement of endoscopic diagnosis and treatment technology.


The main factors contributing to the growth of the endoscope clip market are the increase of the elderly population and the global prevalence of gastrointestinal (GI) bleeding diseases (such as colorectal cancer and pancreatic cancer, inflammatory bowel disease, gastroesophageal reflux disease (GERD)). With the increase of the elderly population, there are cardiovascular and gastrointestinal bleeding. According to the World Health Organization's 2021 data, the proportion of the global population aged 60 and above is expected to nearly double from 12% to 22% between 2015 and 2050. By 2050, 80% of the world's elderly will live in low - and middle-income countries. The pace of population aging is much faster than in the past. In addition, according to the 2021 statistics of the American Cancer Society, there were 60430 new cases of pancreatic cancer and 48220 deaths, making it the third most common cancer in the United States. Therefore, the growth of the elderly population and the rise of the incidence rate of gastrointestinal bleeding diseases are expected to drive market growth in the forecast period.


Hemostatic clips are used to stop gastrointestinal bleeding. This is usually done after removing colon polyps or curing bleeding ulcers. Polyps are tiny tissue growths that may be noticed during gastrointestinal treatment. The driving factors for this niche market are the increasing prevalence of gastrointestinal bleeding diseases and the products launched by major market participants. 


According to a study released by the National Library of Medicine in July 2022, gastroesophageal reflux disease (GERD) is one of the most common chronic gastrointestinal diseases, affecting approximately 20% of people in Western countries. Its definition is the reflux of gastric contents into the esophagus. Therefore, this common disease among the target population is expected to increase disease awareness, thereby promoting treatment and diagnosis. Therefore, it may drive market expansion throughout the entire forecast period.


In addition, market participants focused on launching cutting-edge products are promoting market expansion. For example, in May 2022, Micro Tech Endoscopy launched the largest clip in its Lockado series hemostatic clips. Its ease of use and program advantages make it highly popular among Microtech customers. The thumb ring can be easily deployed, while the rotating handle can achieve 360 degree controlled rotation. The new Lockado hemostatic clip provides clinical doctors with the same accuracy, reliability, and confidence as other products in the Micro Tech hemostatic clip product portfolio, but with a wider coverage. Therefore, the launch of this hemostatic clip in the market is expected to make a significant contribution to the growth of this niche market.


It is expected that the entire endoscopic clip market in North America will experience significant growth throughout the forecast period. This dominant position is due to an increase in arterial bleeding among heart disease patients and gastrointestinal related surgeries in the United States, which holds the largest market share due to its large patient population. For example, according to a study published in the Journal of Surgical Endoscopy in November 2021, laparoscopic cholecystectomy is the most common abdominal surgical treatment in the United States, performing over 750000 surgeries annually. In addition, according to a study published in the National Library of Medicine in January 2021, the United States performs approximately 17.7 million endoscopic surgeries (EPs) annually. This type of surgery is expected to increase the demand for endoscopic clips, thereby promoting market growth.

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