The Global Endotherapy Devices Market size was valued at USD 3.84 Billion in 2019 and is estimated to reach USD 6.63 Billion by 2030 with a CAGR of 5.1% over the forecast period.
Endoscopy is a minimally invasive medical procedure for diagnosis, prevention, and treatment of complications in the visceral organs. Endotherapy is a procedure involving the application of endoscopy. The device is planted in the body via natural openings or through incisions. Since these devices help minimize the invasion in anatomy, there are preferred for treatment of targeted diseases such as colon cancer and gastrointestinal disorders.
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Top Companies: Hoya Corporation, Olympus Corporation, Stryker Corporation, Boston Scientific Corporation, Fujifilm Holdings Corporation, Conmed Corporation Medtronic Plc., Karl Storz GmbH & Co. KG, Smith & Nephew, Plc, and Johnson & Johnson., B. Braun Melsungen AG and others.
Endotherapy devices market report is segmented on the basis of product, application, end user and geography. Based on product, the market is categorized into GI devices & accessories, ERCP devices & accessories, and others. The GI devices & accessories segment is further classified into biopsy forceps, injection needles, polypectomy snares, graspers, hemoclips, and others. The ERCP devices & accessories segment is sub segmented into guide wire, sphincterotome, catheter, extraction basket, extraction balloon, balloon dilation, plastic stent, metal stents, and others. The other endotherapy devices & accessories segment is subdivided into mouthpiece, distal end cap, polyptrap, cleaning brush, and others. Based on application, the market is segmented into bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuro-endoscopy, gastrointestinal endoscopy, and others. Based on end users, the market is categorized into hospitals, clinics, and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
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Endotherapy devices market is mainly driven by growing prevalence of chronic diseases. According to WHO, one in 5 men and one in 6 women worldwide develop cancer during their lifetime, and one in 8 men and one in 11 women die from the disease. Moreover, increasing life span along with increasing risk of cancer among elderly population is also estimated to drive the market growth. Other factors such as preference for minimal invasive treatments and developments in technology such as ultrahigh-definition visualization systems, are also augmented to boost the market growth. However, lack of skilled endoscopists, high cost of devices and infections caused by a few endotherapy devices might constrain the market growth.
North America holds the major market share owing to its developed healthcare infrastructure and technological advancements. Rising inclination towards minimally invasive surgeries and presence of major key players are also estimated to drive its market growth. Emerging economies such as Asia- Pacific are also expected to grow due to increasing geriatric population and government support for development of healthcare industry.
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