Endoscopic hemostasis market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to grow at a CAGR of 8.50% in the above-mentioned forecast period.
Endoscopic Hemostasis is a medical procedure for the management of gastrointestinal (GI) bleeding. The hemostasis treatment is performed using an endoscope which is why it is referred as endoscopic hemostasis. The other types of devices used for the procedure are mechanical devices, injection devices, thermal devices and topical devices.
The growing prevalence of gastrointestinal (GI) bleeding is primary factor responsible for driving the growth of the endoscopic hemostasis market. Additionally, the increasing awareness among healthcare professionals regarding the advantages of endoscopic hemostasis and growing demand for endoscopic hemostasis techniques also heightens the market's overall growth. However, high cost of endoscopic hemostasis are estimated to obstruct the market’s growth.
The recent technological advancement in hemostatic clip designs which helps to achieve more effective and durable mechanical hemostasis are expected to generate profitable opportunities for the market. On the other hand, the inability to use another modality pose as challenge for the market’s growth.
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North America dominates the endoscopic hemostasis market due to the prevailing sophisticated level of healthcare facilities. Asia-Pacific on the other hand, is anticipated to show a rapid and lucrative growth rate in the forecast period of 2021 to 2028 owing to increased expenditure on healthcare infrastructure, ever-rising geriatric population, and increasing personal disposable income within this region.
The major players covered in the endoscopic hemostasis market report are Boston Scientific Corporation , CONMED Corporation, Cook, Diversatek, Inc., Olympus Corporation, STERIS, Micro-Tech Endoscopy, Integra LifeSciences, Sklar Surgical Instruments, Merit Medical Systems, Abbott, Siemens, ELI Tech Group, HORIBA, Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Randox Laboratories Ltd., Ortho Clinical Diagnostics, Nova Biomedical, Sysmex Corporation, among other domestic and global players.
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