Endoluminal Suturing Devices Market Trends

Endoluminal Suturing Devices Market Trends

The rising prevalence of chronic diseases will influence the demand for market. According to the World Health Organization, the prevalence and burden of chronic diseases is rapidly increasing every year. In U.S., 51.8% of the adults are suffering from at least one of the chronic diseases and 27.2% adults had multiple chronic conditions. The growing prevalence of chronic diseases may result in high healthcare expenditure in the future. Furthermore, rising incidences of multiple chronic diseases in the geriatric population will further stimulate the demand for endoluminal suturing devices in the industry.
 

Less acceptance of bariatric surgeries in developing countries will slow down the endoluminal suturing devices market value

Stringent regulations associated with bariatric and metabolic surgeries (BMS) have slowed down the industry expansion for endoluminal suturing devices. For instance, governments of developing countries have imposed stringent regulations on medical devices associated with bariatric surgeries. Additionally, only 30% cost is reimbursed or covered under medical insurance. This has been negatively accelerating the market and will continue to restrain the industry progression in the future. Moreover, lower insurance coverage scenarios in developing economies will restrict the industry revenue of endoluminal suturing devices during the forecast period.