Overall, the global closure device market was valued at nearly $3.9 billion in 2023. This is expected to increase over the forecast period at a CAGR of 3.6% to reach nearly $5 billion.
Throughout this medical market research, we analyzed over 20 closure device companies across 7 continents and used our comprehensive methodology to understand the market sizes, unit sales, company market shares, and to create accurate forecasts. The full report suite on the global market for closure devices extends its projections up to the year 2030, thereby providing a comprehensive and anticipatory understanding of the market trends and trajectories for the given period.
DATA TYPES INCLUDED
- Unit Sales, Average Selling Prices, Market Value & Growth Trends
- Forecasts Until 2030, and Historical Data to 2020
- Market Drivers & Limiters for Each Segment
- Competitive Analysis with Market Shares for Each Segment
- Recent Mergers & Acquisitions
- COVID19 Impact
- Disease Overviews and Demographic Information
- Company Profiles, Product Portfolios and SWOT for Top Competitors
Global Closure Device Market Insights
The expansion of the closure device market is fueled by the rising prevalence of laparoscopic procedures. Notably, the closure device market is anticipated to experience significant growth, primarily propelled by the demand from bariatric surgery. This is especially evident in procedures like Roux-en-Y gastric bypass surgery, where the extensive use of closure staples is a key contributing factor.
Global Closure Device Market Share Insights
In this closure device segment, there are just two dominant players, namely Medtronic and Ethicon, jointly holding a share exceeding 90% of the global closure device market. The market share competition between Medtronic and Ethicon has been consistently tight, with Medtronic leading by a slim margin in the overall market, a pattern observed in previous years. This close market share dynamic between Medtronic and Ethicon is evident across the majority of countries.
Market Segmentation Summary
- Endosuturing Device Market
- Laparoscopic Stapler Market
- Clip Applier Market
Global Research Scope Summary
|Regions||North America (Canada, United States)
Latin America (Argentina, Brazil, Chile, Colombia, Mexico, Peru, Venezuela)
Western Europe (Austria, Benelux, France, Germany, Italy, Portugal, Scandinavia, Spain, Switzerland, U.K.)
Central & Eastern Europe (Baltic States, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Kazakhstan, Poland, Romania, Russia, Turkey, Ukraine)
Middle East (Bahrain, Iran, Israel, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates)
Asia Pacific (Australia, Cambodia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam)
Africa (Algeria, Egypt, Ghana, Kenya, Libya, Morocco, Nigeria, South Africa, Sudan, Uganda)
|Quantitative Coverage||Market Size, Market Shares, Market Forecasts, Market Growth Rates, Units Sold, and Average Selling Prices.|
|Qualitative Coverage||COVID19 Impact, Market Growth Trends, Market Limiters, Competitive Analysis & SWOT for Top Competitors, Mergers & Acquisitions, Company Profiles, Product Portfolios, FDA Recalls, Disruptive Technologies, Disease Overviews.|
|Data Sources||Primary Interviews with Industry Leaders, Government Physician Data, Regulatory Data, Hospital Private Data, Import & Export Data, iData Research Internal Database.|
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