Endotherapy Devices Market Size By Product (Gastrointestinal (GI) Devices & Accessories, Endoscopic Retrograde Cholangio Pancreatography (ERCP) Devices & Accessories), By End-use (Hospitals, Ambulatory Surgical Centres) & Forecast, 2022 - 2028

Industry Overview

Endotherapy Devices Market size surpassed USD 4 billion in 2021 and is estimated to grow at a CAGR of over 8% up to 2028 owing to the growing incidence of gastrointestinal disorders such as digestive tract bleeding, chronic pancreatitis, ulcerative colitis (UC), inflammatory bowel disease (IBD), and abnormal growth in the GI tract promote substantial disease burden, further stimulating the market growth.
 

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According to the National Pancreas Foundation, in 2021, industrialized economies have an estimated annual incidence rate of 5-12 per 100,000 individuals that are expected to develop chronic pancreatitis. The prevalence of chronic pancreatitis accounts for 50 per 100,000 individuals. Chronic pancreatitis is increasingly prevalent in people aged between 30 & 40. Thus, the increasing incidence of chronic gastrointestinal conditions along with the expanding geriatric population base is driving the endotherapy devices market share.
 

Endotherapy devices refer to the devices that are intended to be inserted into body during endoscopic procedures. Endotherapy devices are increasingly used in the surgical interventions performed to examine, or diagnose abdominal pain, ulcers, digestive tract bleeding, and abnormal growths in abdominal & gastrointestinal (GI) conditions.
 

However, the high cost associated with the endotherapy devices and lack of skilled technicians may negatively impact the endotherapy devices market growth. For instance, an extraction basket costs approximately more than USD 500 (Cook Medical; The Web Extraction Basket) and the extraction balloon costs around USD 400 (Cook Medical; Fusion Extraction Balloon). The product offered by Medtronic such as Beacon EUS delivery system & FNB Needle costs USD 599 and USD 464, respectively.
 

These are only the costs associated with acquiring the device, the maintenance costs for reusable devices add to the additional costs of these units. Such high cost might affect the potential market growth, especially in developing economies.  Thus, the high cost of endotherapy devices and dearth of skilled endoscopic technicians may impede the adoption of endotherapy devices.
 

The COVID-19 pandemic arose as an unprecedented public health issue and the spread of infection has distorted the global economy, incurring significant disease burden & financial damage. Hospital admissions and services were offered to the COVID-19 affected patients on priority basis, with majority of the other medical procedures on halt. This has led to the delay in multiple medical procedures including gastrointestinal endoscopy across various countries. Endoscopic procedures require the endoscopists to operate in the close proximity of the patients for a substantial time period, further increasing the likelihood of endoscopists being exposed to SARS-CoV-2 infected.
 

Endoscopists and endoscopy staff may henceforth possess a significant risk of acquiring coronavirus. As a result, multiple national and international gastrointestinal (GI) organizations have published recommendations & suggestions to minimize the nosocomial contamination. These recommendations also advocate performing only the emergent, urgent, & semi-urgent endoscopies, further postponing endoscopic procedures during the onset of the COVID-19 pandemic. According to the National Centers for Biotechnology Information, in 2020, during lockdown, 9,776 patients underwent endoscopy as compared with 19,296 in 2019 in the Netherlands. The number of gastroscopies dropped down by 57%, whereas endoscopic retrograde cholangiopancreatography (ERCP) volumes reduced from 578 to 522.
 

Similar scenario was observed in the UK, with the COVID-19 pandemic and subsequent lockdown affecting the ERCP & endoscopic procedural volume. Thus, the reduced procedural volume affected the adoption of endotherapy devices, especially during the onset of pandemic in 2020. These developments have slowed down the endotherapy devices market growth in a positive manner. However, the market is expected to continue its growth trajectory with reducing COVID-19 cases and restoring procedural volume.
 

Growing prevalence of gastrointestinal diseases is set to amplify the market growth

The increasing incidence of gastrointestinal diseases is anticipated to proliferate market growth in the coming years. Gastrointestinal disorders such as GI tract infections, chronic pancreatitis, ulcerative colitis (UC), irritable bowel syndrome (IBS), and abnormal growth in the GI tract promote substantial disease burden. According to the American Gastroenterology Association (AGA) publication, in 2021, a multinational study was conducted, incorporating data on functional gastrointestinal disorders (FGIDs) from 33 countries on 6 continents. This study concluded that more than 40% of individuals globally suffer from FGIDs that impact the quality of life and health care use.
 

Further, rising incidence of chronic diseases including gastrointestinal infections and cancers leads to a large number of patients opting biopsy test for diagnosis. Owing to which there is a huge demand for biopsy forceps for tissue sampling. According to the press release of Boehringer Ingelheim, in 2020, around 5 million new cases of GI cancers were diagnosed across the globe. Hence, owing to the above statistics rising prevalence of gastrointestinal disorders is set to increase the demand for endotherapy procedures and subsequently for endotherapy devices that will prove beneficial for the endotherapy devices market sales.
 

Soaring demand and rising awareness regarding benefits offered by gastrointestinal devices & accessories is set to stimulate the business landscape

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Based on product, the market is segmented as gastrointestinal devices & accessories, endoscopic retrograde cholangio pancreatography (ERCP) devices & accessories, and others. Gastrointestinal (GI) devices & accessories segment held a significant market share in 2021 and is expected to reach more than USD 3,955 million by 2028 owing to soaring demand and rising awareness regarding benefits offered by gastrointestinal devices & accessories in the treatment & diagnosis of multiple gastrointestinal health conditions.
 

The technological advancements in endotherapy devices are augmenting their use in gastroenteric endoscopy procedures. Several advantages delivered by these novel devices including safety, enhanced ergonomics, and increased efficiency promoted their significance and use at healthcare facilities. Thus, the soaring demand and availability of innovative gastrointestinal devices & accessories for better diagnosis & treatment are set to facilitate the endotherapy devices market trends incrementally.
 

Increasing use of novel endotherapy devices in hospital settings offering enhanced post-surgical care is expected to surge the product demand

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Based on end-use, the endotherapy devices market is segmented as hospitals, ambulatory surgical centers, and others. The hospitals segment was valued at more than USD 2,233 million in 2021 owing to the soaring use of novel endotherapy devices in hospital settings offering enhanced post-surgical care is estimated to surge the patient preference for hospitals.
 

The increasing admissions with gastrointestinal disorders due to sedentary lifestyle and growing disease screening initiatives coupled with the availability of highly skilled healthcare professionals are some other attributes that are propelling the market potential of the hospitals segment positively. Furthermore, the higher disease incidence in developed nations with robust healthcare infrastructure is anticipated to positively impact the endotherapy devices market value.
 

Increasing product adoption in the North America region to curb the disease burden is set to promote the regional business statistics

U.S. dominated the North America endotherapy devices market with a significant market share in 2021 and is anticipated to expand at a notable pace to reach over USD 2,941 million by 2028 due to several factors such as high acceptance of endotherapy devices, rise in the incidence of gastrointestinal cancer, and growing geriatric population across the country. According to the American Cancer Society’s 2022 estimates, for gastric cancer in the U.S., approximately 26,380 new cases and around 11,090 deaths are expected to occur in the subsequent year.
 

Gastric cancer accounts for around 1.5% of all new cancers diagnosed in the U.S. every year. Thus, the rise in the gastric cancer conditions along with other gastrointestinal conditions are anticipated to impel the adoption rate of endotherapy devices in the country. Hence, owing to the above-mentioned factors, the endotherapy devices market demand in the U.S. is projected to surge in the foreseeable future.
 

Strategies adopted by major market players will surge the industry share

Some of the major market players operating in the endotherapy devices market are Olympus Corporation, Boston Scientific Corporation, Medtronic, Fujifilm Corporation, Cook Medical, Karl Storz, CONMED Corporation, and Taewoong Medical Co. LTD among others. These prominent players concentrate on strategic initiatives such as research partnerships, new product launch & commercialization, and distribution agreements for industry expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue share in the market.
 

Recent industry developments:

• In December 2021, Olympus Corporation announced the release of its single-use Foreign Body Retrieval devices product line. The company provides a broad spectrum of specialized single-use grasping forceps to help in retrieving foreign bodies, stents, and excised tissue. These single-use products are expected to replace the reusable devices. This product launch will help the company to bolster its endotherapy devices portfolio and industry position, thereby driving the revenue growth.
   
• In February 2021, Olympus Corporation and Asahi Intecc Co., Ltd. signed an exclusive distribution agreement for Fielder 18, an endoscopic guide wire used primarily in endoscopic diagnosis and treatment of pancreatic bile ducts, etc. This agreement helped the company to strengthen its distribution capabilities in Japan market.
   

Endotherapy devices market report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2022 to 2028, for the following segments:

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By Product

• Gastrointestinal Devices & Accessories
  • Biopsy Forceps
    • Single-use Biopsy Forceps
    • Reusable Biopsy Forceps
    • Hot Biopsy Forceps
  • Injection Needles
    • EUS-guided FNA (Fine Needle Aspiration) needles
    • EUS-guided FNB (Fine Needle Biopsy) needles
    • Others
  • Polypectomy Snares
  • Graspers
  • Hemoclips
  • Endoscopic Submucosal Dissection (ESD) Knives
    • Insulation-tipped knives
    • Needle-tipped knives
  • Hemostasis Forceps
  • Sclerotherapy Needles
  • Others
• Endoscopic Retrograde Cholangio Pancreatography (ERCP) Devices & Accessories
  • Guide Wire
  • Sphincterotome
  • Catheter
    • Drainage Catheter
    • Dilation Catheter
    • Guiding Catheter
    • Others
  • Extraction Basket
  • Extraction Balloon
  • Balloon Dilation
  • Plastic Stents
  • Metal Stents
  • Others
• Others

By End-use

• Hospital
• Ambulatory Surgical Centers
• Others

The above information is provided for the following regions and countries:

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE