New York, June 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Endotherapy Devices Global Market Report 2023" - https://www.reportlinker.com/p06466647/?utm_source=GNW
KG, Hoya Corporation, Stryker Corporation, Siemens Healthcare, Taewoong Medical Co.
Ltd, Smith & Nephew Plc., Steris Corporation, Cosmed Corporation and Micro-Tech (Nanjing) Co Ltd.
The global endotherapy devices market is expected to grow from $4.22 billion in 2022 to $4.48 billion in 2023 at a compound annual growth rate (CAGR) of 5.97%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The endotherapy devices market is expected to reach $5.74 billion in 2027 at a CAGR of 6.41%.
The endotherapy devices market consists of sales of devices such as mechanically enhanced colonoscopies, endoscopic hemostasis, tissue sampling devices, metallic stents, dilation balloons, foreign body retrieval devices, electrosurgical needs, and UCR insufflators.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Endotherapy devices are medical devices used in endoscopic procedures for the diagnosis, treatment, and management of various disorders such as gastrointestinal, colonoscopy, laparoscopy, anoscopy, arthroscopy, bronchoscopy, and others. These devices are designed to be used with an endoscope, a flexible tube with a light and camera attached that offers physicians to view the inside for better inspection of internal organs.
North America as the largest region in the endotheraphy devices market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of endotherapy devices are gastrointestinal devices and accessories, endoscopic retrograde cholangiopancreatography devices and accessories, and other endotheraphy devices.Gastrointestinal devices and accessories are medical devices used to diagnose and treat gastrointestinal (GI) disorders and are used for a range of procedures such as endoscopic examinations to visualize and access the inside of the GI tract such as the esophagus, stomach, duodenum, and colon and for surgical interventions to deliver therapies directly to the affected areas.
Major applications are bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuro-endoscopy, gastrointestinal endoscopy, and others by hospitals, ambulatory surgical centers, and other end-users.
The rise in the incidence of gastrointestinal diseases is expected to propel the growth of the endotherapy devices market going forward.Gastrointestinal illnesses impact the digestive tract from the mouth to the anus, which includes colorectal cancer, gastroesophageal reflux disease, ulcerative colitis (UC), inflammatory bowel disease (IBD), Crohn’s disease (CD), and others.
Endotherapy devices are used in gastrointestinal diseases to perform non-invasive or minimally invasive surgical procedures to treat and diagnose ulcers, bleeding, celiac disease, obstructions, inflammation, and tumors in the gastrointestinal tract.Additionally, it also aids in the identification of the source of unexplained symptoms such as heartburn, abdominal pain, bleeding, nausea, vomiting, and pain.
For instance, in January 2021, an article published by Cleveland Clinic, a US-based non-profit academic medical center, diverticular illness is quite frequent, affecting 10% of persons over the age of 40 and 50% of people over the age of 60 in Western societies, whereas, colorectal cancer, the second most frequent type of cancer in the United States, is diagnosed in 130,000 Americans each year. Therefore, the rise in the incidence of gastrointestinal diseases driving the growth of the endotherapy devices market.
Technological advancements are a key trend gaining popularity in the endotherapy devices market.Major companies in the endotherapy devices market are focused on innovating their products to improve the observation power and sustain their position in the market.
For Instance, in October 2021, FUJIFILM Healthcare Americas Corporation, a US-based leading provider of endoscopic imaging and endosurgical solutions, introduced the El-740D/S dual-channel endoscope for gastrointestinal applications. The EI-740D/S includes dual channel widths of 3.7mm and 3.2mm with unique features such as Linked Colour Imaging (LCI®) and Blue Light Imaging (BLI) light mode options for improved detection and characterization of lesions and adenomas, which offers high imaging quality that improves comfort without sacrificing control and to reduce physician fatigue. Additionally, the endoscope’s distal end is designed for easy insertion and device visualization, while it’s 210° upward angulation and short bending part provide precision manoeuvrability, allowing observation and treatment of locations that are generally difficult to approach.
In May 2021, Olympus Corporation, a Japan-based manufacturer of optics and reprography products acquired Medi-Tate for an undisclosed amount.Through this acquisition, Olympus Corporation aims to expand its business line in offering in-office treatment such as hyperplasia (BPH) treatment, and strengthen its position in the field of urological devices.
Medi-Tate is an Iseral-based medical device manufacturing company such as gastroenterological endotherapy devices, urological devices, and respiratory endotherapy devices.
The countries covered in the endotheraphy devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The endotherapy devices market research report is one of a series of new reports that provides endotherapy devices market statistics, including endotherapy devices industry global market size, regional shares, competitors with an endotherapy devices market share, detailed endotherapy devices market segments, market trends and opportunities, and any further data you may need to thrive in the endotherapy devices industry. This endotherapy devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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