Endotherapy Devices Market Analysis

Endotherapy Devices Market Analysis

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.
 

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.
 

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.