Overview:
Endoscopy is a minimally invasive surgical technique that allows you to see through the human body (hollow organ or cavity of the body). It is carried out for both diagnostic and therapeutic purposes. Endoscopes have a camera or light source at the tip that enables doctors to observe the internal organ they are working on. Modern endoscopes are equipped with sensitive lights, such as blue and green lights, that allow physicians to see precancerous conditions more easily using narrow brand imaging.
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The endoscopic device is inserted into the body through cavities or incisions. Upper GI endoscopy, flexible sigmoidoscopy, endoscopic retrograde cholangiopancreatography, and liver biopsy are the most common endoscopic procedures.
Drivers:
Launch of technologically advanced endoscopes by companies is expected to fuel the growth of endoscopic structure management device market. These endoscopes can be used to detect diseases early using endoscopy procedures. For instance, Olympus Corporation launched Power Spiral in Europe in May 2019, with plans to extend to the United States and other parts of the Asian Pacific region. The Power Spiral is the world’s first motorised rotation endoscope, and it was first implemented in Europe. The Power Spiral is the world’s first motorised rotation endoscope, and it was first implemented in Europe. The endoscope has a greater range of motion and can help shorten procedure times. It aids in the diagnosis as well as the improvement or correction of disorders in the digestive tract.
Furthermore, increasing U.S Food & Drug Administration (FDA) approval of the endoscopic stricture management device is the factor that is expected to drive global endoscopic stricture management device market growth. For instance, Pentax Medical announced on January 15, 2020 that its Imagina endoscopy device had obtained FDA 510(k) clearance and would be released in the United States. The Imagina endoscopy system includes the Pentax i-Scan digital image enhancement system, which provides a clearer picture of the blood vessel and mucosal surface. Furthermore, the Imagina endoscopy device features a touch-screen LCD interface that eliminates the need for bulb replacements on a regular basis. Furthermore, it is less expensive than other GI endoscopy systems, such as video endoscopy. As a result, Pentax Medical’s launch of the Imagina endoscopy system is expected to boost demand for endoscopic stricture control devices in the sector.
Furthermore, the C2 Cryo Balloon System Ablation System received FDA clearance for marketing and commercialization in 2017. In the global endoscopic stricture control system segment, it is a significant product offering.
Restraints:
Complications associated with endoscopic procedures, such as infection, bleeding, sedation reaction, and perforation, are expected to be major restraints on the global endoscopic stricture management system market’s development.
Furthermore, the global endoscopic stricture control system market is projected to be hampered by a shortage of healthcare professionals capable of performing surgical procedures. For instance, According to the Association of American Medical Colleges (AAMC), the United States is expected to face a physician shortage of about 122,000 by 2032, as demand for doctors outnumbers supply.
Market Taxonomy:
On the basis of application, the global endoscopic stricture management device market is segmented into:
- Bronchoscopy
- Arthroscopy
- Laparoscopy
- Urology Endoscopy
- Gastrointestinal Endoscopy
- Others
On the basis of product, the global endoscopic stricture management device market is segmented into:
- Balloon Dilator
- Stents
- Bougie Dilators
- Others
On the basis of end users, the global endoscopic stricture management device market is segmented into:
- Hospital
- Clinics
- Ambulatory Surgery Centers
On the basis of region, the global endoscopic stricture management device market is segmented into:
- North America
- Latin America
- Europe
- Middle East
- Asia Pacific
- Africa
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Regional Analysis:
North America is expected to witness significant growth in the global endoscopic stricture management device market owing to a number of factors such as rising product launches and increasing prevalence of disease requiring endoscopy procedures. Rising cases of gastrointestinal disease is among public is expected to fuel the market in the region. For instance, According to the National Center for Biotechnology Information (NCBI), about 11% of the population in the United States suffered from chronic digestive disease in 2018, with prevalence rates as high as 35% among those aged 65 and up.
Furthermore, Europe is also expected to witness significant growth in global endoscopic stricture management device market over the forecast period owing to rising cases of cardiovascular diseases. For instance, According to the British Journal of Anesthesia (BJA), one out of every ten people in the United Kingdom undergoes surgery each year, raising the need for endoscopic devices.
Key Players:
Key players operating in the global endoscopic stricture management device market include, Olympus Corporation, Cook Medical, CONMED Corporation, Becton, Dickinson and Company, Panmed Us, Hobbs Medical, Inc Merit Medical Systems, Inc., Boston Scientific Corporation and Medi-Globe Gmbh.
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