Endoscopic Clips Market Trends

Growth Drivers

• Rising Adoption of Minimally Invasive Therapies as they Reduce Recovery Time and Pain - One of the treatments falling under minimally invasive therapies is endoscopy. Since endoscopic treatment is more convenient, its demand is expected to increase, ultimately leading to a boost in the growth of the market. According to the NCBI, the most crucial factors that patients cited when selecting between open and MIS surgery were long-term outcomes, the surgeon's advice, and the likelihood of complications. In terms of postoperative discomfort, complication risk, recovery time, expense, and need for anesthesia, patients also believed that MIS surgery had advantages over open surgery. Most patients appear to favor minimally invasive methods of treatment.

• Growing Cases of Gastroesophageal Reflux Disease (GERD) with Changing Eating Habits - GERD is one of the most widespread gastrointestinal conditions, affecting 20% of adults in western countries.

• Growing Prevalence of Colon & Pancreatic Cancers Among People - In 2020, pancreatic cancer was anticipated to affect approximately 495,700 individuals globally.

• Improved Healthcare Infrastructure with Growing Concern for Health by the Government and Population - As per the World Health Organization, by 2030, the world will have achieved universal health coverage (UHC), as stated in the Sustainable Development Goals (SDGs). This means that without incurring financial hardship, every individual and community in the globe should have access to the high-quality health care they require, whether it is preventive, curative, therapeutic, or palliative.

• Huge Investment by the Private Institution for Development - BMC Medical Education held 14 videoconferences at associated institutions from 2014 to 2019 to review and improve surgeons' skills in performing ES. These sessions included an uncut video of ES performed at one of the associated facilities, candid discussion about the surgical procedure, and expert surgeon recommendations for improvements. Anatomical structures and operations that are challenging to verbally describe to an audience can be quickly and easily recognized by them with the help of the annotation system.

Challenges

• Side Effects of Using Endoscopic Clips - Side effects of endoscopic clips include severe abdominal pain, heavy rectal bleeding, fever, chills, and more. Owing to these side effects the demand for endoscopic is expected to hinder the growth of the market.

• High Maintenance Cost
• Unfavorable Reimbursement Policies