Endoscopic Suturing Device Market Revenue was valued at USD 1.5 Billion in 2024 and is estimated to reach USD 2.8 Billion by 2033, growing at a CAGR of 7.8% from 2026 to 2033.
The South Korean medical industry is experiencing significant growth in the endoscopic suturing device market, driven by advancements in minimally invasive surgical technologies and a rising demand for efficient wound closure solutions. citeturn0search0
Market Overview
In 2023, the South Korean endoscopy devices market was valued at approximately USD 368.09 million, with projections indicating a compound annual growth rate (CAGR) of 9.48% from 2024 to 2030. citeturn0search0 This growth is largely attributed to the increasing preference for minimally invasive procedures, which offer benefits such as reduced recovery times and minimized surgical risks.
Role of Endoscopic Suturing Devices
Endoscopic suturing devices play a crucial role in minimally invasive surgeries by facilitating precise tissue approximation and secure wound closure. These devices enhance surgical efficiency and contribute to improved patient outcomes. The demand for such devices is closely linked to the volume of endoscopic procedures performed, which has been on the rise due to their associated benefits.
Industry Requirements
South Korean healthcare providers require endoscopic suturing devices that offer:
Reliability: Consistent performance to ensure patient safety during procedures.
Ease of Use: Intuitive design to facilitate quick adoption and efficient use by surgical teams.
Compatibility: Seamless integration with existing endoscopic systems and instruments.
Cost-Effectiveness: Competitive pricing to align with budget constraints while maintaining quality care standards.
Market Dynamics
The market is characterized by the presence of both global and local players. In 2022, Medtronic emerged as the leading provider of automated suturing devices in South Korea, followed by Boston Scientific, Apollo Endosurgery, B. Braun Melsungen, and Ethicon. citeturn0search7 These companies are actively engaged in research and development to introduce innovative solutions that meet the evolving needs of the medical community.
Regulatory Landscape
The South Korean Ministry of Food and Drug Safety (MFDS) oversees the approval and regulation of medical devices, ensuring that products meet stringent safety and efficacy standards. Adherence to these regulations is essential for manufacturers aiming to enter or expand their presence in the South Korean market.
Future Outlook
Looking ahead, the endoscopic suturing device market in South Korea is expected to continue its growth trajectory, fueled by technological innovations and a sustained shift towards minimally invasive surgical practices. Manufacturers that align their products with the specific requirements of South Korean healthcare providers and navigate the regulatory landscape effectively will be well-positioned to capitalize on the expanding market opportunities.
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Medtronic(Covidien)
Apollo Endosurgery，Inc
Johnson & Johnson(Ethicon)
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Endoscopic Suturing Device Market
Standard Endoscopic Suturing Devices
Automated Endoscopic Suturing Devices
Manual Endoscopic Suturing Devices
Accessories for Endoscopic Suturing
Gastrointestinal Surgery
Cardiothoracic Surgery
Urological Surgery
Gynecological Surgery
Orthopedic Surgery
Hospitals
Ambulatory Surgical Centers
Specialized Clinics
Research Institutions
Single-use Suturing Devices
Reusable Suturing Devices
Direct Sales
Distributors
Online Sales
Retail Pharmacies
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Endoscopic Suturing Device Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Endoscopic Suturing Device Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Endoscopic Suturing Device Market, By Type
6. South Korea Endoscopic Suturing Device Market, By Application
7. South Korea Endoscopic Suturing Device Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Endoscopic Suturing Device Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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