Endotherapy Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3782
Endotherapy Devices Market size is projected to experience significant growth from 2019 to 2025.
Growing incidence of diseases that require endotherapy devices such as chronic pancreatitis, gastrointestinal ulcers, irritable bowel syndrome, stomach bleeding, abdominal pain, and other digestive tract related infections will stimulate global endotherapy devices market growth in the coming years. According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), in the U.S., about 60-70 million individuals are suffering from all types of digestive diseases. Additionally, as per the Centers for Disease Control and Prevention (CDC), in 2017, in the U.S. nearly 15.3 million adults are diagnosed with digestive ulcers. Thus, growing incidence of gastrointestinal diseases will escalate the demand for endotherapy devices, augmenting the market growth.
Increasing awareness about the endotherapy devices coupled with advanced technological innovations in the field of endotherapy will upsurge endotherapy devices market size over the forecast timeframe. Recent advanced innovations include EZDilate, a multistage endoscopic balloon dilator launched by Olympus. The device has various advantages such as improved visualization, improved precision and procedural control. Thus, increasing adoption of innovative endotherapy devices will augment market growth.
However, high cost associated with endotherapy devices coupled with lack of skilled endoscopy technicians & physicians may hamper the market growth of endotherapy devices. Furthermore, infections caused by endoscopic procedures due to improper sterilization may restrain the demand of endotherapy devices market growth.
Gastrointestinal devices & accessories market will hold a significant revenue size over the forecast years due to its wide usage in healthcare institutions, clinics, and hospitals. GI devices are utilized in various methods such as to diagnose and treat GI bleeding, to detect the cause of malabsorption, to locate and remove sores during surgery. Furthermore, the rise in geriatric population pool that is prone to various digestive diseases, increasing healthcare expenditure, and emerging market economies will offer growth opportunities for endotherapy devices in the forthcoming period.
Laparoscopy segment will witness substantial growth over the forecast period owing to its growing demand for laparoscopic procedures. Additionally, the procedure undergoes small incisions, fast recovery, less risk of infection and less pain than an open surgical procedure. Also, due to the rising prevalence of various cancers globally will escalate the demand for laparoscopic procedures in the projection timeframe. According to the World Health Organization (WHO), in 2018, about 9.6 million individuals have died due to cancer across the globe. Thus, increase in cancerous conditions will offer growth opportunities for non-invasive endoscopic surgical devices market in the coming years.
Hospitals segment will show momentous growth owing to the availability of improved and specialized technology-based endotherapy devices in these facilities. Infrastructure developments to provide advanced endotherapy procedures and favorable reimbursement policies will enhance growth opportunities for endotherapy devices. Furthermore, the growing number of hospitalizations towards gastrointestinal infections will drive the segmental growth during the projection timeframe.
U.S. endotherapy devices market is estimated to foresee a lucrative growth over the forecast period due to the growing geriatric population susceptible to various gastrointestinal infections. Additionally, growing inclination of patients towards minimally invasive surgical procedures due to its high accuracy and convenience factors will accelerate the market growth during the forecast period. Moreover, the presence of advanced healthcare system and a robust distribution channel for endotherapy devices will drive industry growth.
Asia Pacific endotherapy devices market is estimated to witness lucrative growth over the forecast period due to increasing government expenditure for the advancement of healthcare system in this region. Also, due to the rising geriatric population base that is more susceptible to various gastrointestinal disorders will enhance the endotherapy devices market growth. The growth is attributed to the growing demand for highly innovative technologies and devices.
Few of the key companies operating in the endotherapy devices market include Fujifilm, Conmed Corporation, Medtronic, Karl Storz, and Johnson & Johnson Consumer Inc. Firms are adopting new product launch, merger & acquisition strategies to increase their market footprint. For instance, in March 2018, Boston Scientific acquired EMcision, a privately held medical device company that is committed to improving the lives of cancer patients. The strategy would expand the company’s endotherapy devices product portfolio, and thus boosts the revenue generation.
Endotherapy Devices Market by Type, 2014-2025 (USD Million)
- Gastrointestinal (GI) Devices & Accessories
- Biopsy Forceps
- Injection Needles
- Polypectomy Snares
- Endoscopic Retrograde Cholangio Pancreatography (ERCP) Devices & Accessories
- Guide Wire
- Extraction Basket
- Extraction Balloon
- Balloon Dilation
- Plastic Stent
- Metal Stents
- Other Endotherapy Devices & Accessories
- Distal End Cap
- Polyp Trap
- Cleaning Brush
Endotherapy Devices Market by Application, 2014-2025 (USD Million)
- Urology endotherapy
- Gastrointestinal endoscopy
Endotherapy Devices Market by End-use, 2014-2025 (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Olympus Corporation
- Boston Scientific Corporation
- Conmed Corporation
- Karl Storz
- Johnson & Johnson Consumer Inc.
- Smith & Nephew
- Hoya Corporation
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