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How has the endotherapy devices market size evolved in recent years?
The market size for endotherapy devices has seen robust expansion in recent years. The growth is expected to continue, projecting an increase from $4.63 billion in 2024 to $4.91 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%. This substantial growth during the historic period can be tied in with factors such as the escalating incidence of gastrointestinal disorders, an aging demographic, amplified awareness and proactive diagnosis, beneficial insurance repayment policies, global economic advancement, and strategic alliances and partnerships.
What are the predictions for the endotherapy devices market size in the coming years?
Anticipated to witness a robust surge in the coming years, the market size of endotherapy devices is projected to escalate to “$6.64 billion by 2029 at a compound annual growth rate (CAGR) of 7.9%. The spark for this growth in the forecast period could be fueled by enhancements in minimally invasive methodologies, an escalating incidence of chronic illnesses, evolution of healthcare infrastructure, a pronounced emphasis on early diagnosis, and regulatory backing and standardization. The forecast period is also speculated to see major trends such as the evolution of imaging technologies, amalgamation of artificial intelligence, technological breakthroughs, worldwide healthcare infrastructure augmentation, and a rising occurrence of gastrointestinal complications.
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What key factors are fueling the growth of the endotherapy devices market?
The escalation in the occurrence of gastrointestinal ailments is predicted to significantly contribute to the expansion of the endotherapy devices market. These conditions affect the digestive tract ranging from the mouth to the rectum, encompassing diseases such as colorectal cancer, gastroesophageal reflux disease, ulcerative colitis (UC), inflammatory bowel disease (IBD), Crohn’s disease (CD), among others. Endotherapy devices are employed to undertake non-invasive or barely invasive surgical methods to treat and diagnose conditions like ulcers, bleeding, celiac disease, obstructions, inflammation and tumors within the gastrointestinal tract. Besides, these devices play a crucial role in identifying the origins of unexplained symptoms like heartburn, abdominal discomfort, bleeding, nausea, vomiting, and pain. For instance, Cancer Australia, an Australian organization, published reports in January 2024 that predicted 2,576 new instances of stomach cancer in 2023 in Australia, including 1,647 males and 929 females. The lifetime diagnosis risk by the age of 85 stands around 1 in 117 (0.85%), with males at 1 in 91 (1.1%) and females at 1 in 164 (0.61%). Thus, the increase in occurrences of gastrointestinal ailments is a significant driver propelling the growth of the endotherapy devices market.
How is the global endotherapy devices market divided into key segments?
The endotherapy devices market covered in this report is segmented –
1) By Product: Gastrointestinal Devices and Accessories, Endoscopic Retrograde Cholangio Pancreatography Devices And Accessories, Other Endotherapy Devices
2) By Application: Bronchoscopy, Arthroscopy, Laparoscopy, Urology Endoscopy, Neuro-Endoscopy, Gastrointestinal Endoscopy, Other Applications
3) By End-Use: Hospital, Ambulatory Surgical Centers, Other End-Users
Subsegments:
1) By Gastrointestinal Devices And Accessories: Endoscopic Mucosal Resection (EMR) Devices, Endoscopic Submucosal Dissection (ESD) Devices, Biopsy Forceps, Clips And Closure Devices, Electrosurgical Devices
2) By Endoscopic Retrograde Cholangio Pancreatography (ERCP) Devices And Accessories: ERCP Cannulas, Balloon Sweep Devices, Stents, Guidewires, Sphincterotomes
3) By Other Endotherapy Devices: Endoscopic Ultrasound (EUS) Devices, Ablation Devices, Foreign Body Retrieval Devices, Laser Therapy Devices
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Who are the key firms paving the way for growth in the endotherapy devices market?
Major companies operating in the endotherapy devices market include Olympus Corporation, Boston Scientific Corporation, Conmed Corporation, Medtronic Plc, Fujifilm Holdings Corporation, Johnson & JohnsonCook Group Incorporated, Karl Storz SE & Co. KG, Stryker Corporation, Taewoong Medical Co. Ltd, Smith & Nephew Plc., Steris Corporation, Micro-Tech (Nanjing) Co Ltd., HOYA Corporation, Cook Group Incorporated, B. Braun Melsungen AG, Frontier Healthcare, Pentax Medical, Nipro Corporation, MEDIVATORS B.V., US Endoscopy Group Inc., Richard Wolf GmbH, Cantel Medical Corp., Fujinon Corporation, Gyrus ACMI, Cogentix Medical Inc., Endogastric Solutions Inc.
Which trends are expected to transform the endotherapy devices market?
Leading businesses in the endotherapy devices market such as Olympus Corporation, a Japan-based firm that specializes in medical technology, are focusing on creation of innovative solutions to improve endoscopic procedures. Approaches like red dichromatic imaging (RDI) are being leveraged to provide a clearer vision of blood vessels and bleeding spots. RDI enhances the view of these areas by utilizing two separate wavelengths of light, thereby increasing the diagnostic accuracy. Like in the case of the Olympus Corporation which in October 2023, launched an endoscopy system called EVIS X1. This high-tech system integrates cutting-edge imaging technologies, along with artificial intelligence, to boost both visualization and diagnostic abilities. The system’s advanced imaging technologies optimize diagnostic capacities, where its texture and colour enhancement imaging (TXI) boosts the visibility of polyps and lesions by amplifying their color and texture. Furthermore, red dichromatic imaging (RDI) hones the focus on deeper blood vessels and bleeding spots while brightness adjustment imaging with maintenance of contrast (BAI-MAC) ensures a balance in light intensity throughout the image.
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What regions are contributing significantly to the growth of the endotherapy devices market?
North America as the largest region in the endotherapy devices market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global endotherapy devices market report during the forecast period. The regions covered in the endotherapy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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