Endotherapy Devices Market Size

Endotherapy Devices Market Size

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.

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.