Endotherapy Devices Market Set to Reach $7 Billion by 2030

[Redding, California, February 19, 2024] - Meticulous Research®, a renowned leader in global market research, has released its latest comprehensive report titled, "Endotherapy Devices Market by Type (Needles, Biopsy Forceps, Balloon Dilators, Hemostasis, Snares, Catheters, Sphincterotomes, Guide Wires, Stents, Retrieval Nets), Application (Upper GI Endoscopy, Colonoscopy, Cystoscopy) - Global Forecast to 2030." This insightful analysis forecasts the global endotherapy devices market to surge to a valuation of $7 billion by 2030, boasting a commendable CAGR of 7.4% from 2023.

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Market Dynamics
The ascent of the global endotherapy devices market is underpinned by several factors, including the escalating incidence of diseases necessitating endoscopic interventions, a surge in gastrointestinal disorders prevalence, burgeoning patient preference for minimally invasive procedures, the burgeoning geriatric populace, and the continuous stream of technological innovations in endotherapy devices. However, challenges such as the exorbitant costs associated with endotherapy devices and the looming risk of infections associated with certain devices temper the market's growth trajectory. Nonetheless, the burgeoning demand for endotherapy devices across emerging economies presents promising growth avenues for market participants, albeit hampered by the scarcity of adequately trained medical professionals.

Key Market Players
Notable entities spearheading the global endotherapy devices market include Boston Scientific Corporation, Olympus Corporation, Medtronic plc, FUJIFILM Holdings Corporation, Cook Group Incorporated, Conmed Corporation, Hoya Corporation, Stryker Corporation, KARL STORZ SE & Co. KG, Smith & Nephew PLC, Micro-Tech (Nanjing) Co., Ltd., Nipro Corporation, MEDIVATORS B.V., The Cooper Companies, Inc., and JOHNSON & JOHNSON.

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Future Outlook
The global endotherapy devices market is meticulously segmented based on Type (Endotherapy Needles Devices, Biopsy Forceps, Balloon Dilators, Hemostasis System, Snares, Catheters, Sphincterotomes, Guide Wires, Stents, Retrieval Nets), Application (Upper Gastrointestinal (GI) Endoscopy, Colonoscopy, Cystoscopy, Bronchoscopy, Laryngoscopy, and Other Applications), and Geography. The report also furnishes a comprehensive evaluation of industry competitors, dissecting their market share at both the global and regional levels.

Among all applications studied in this report, the upper gastrointestinal (GI) endoscopy segment is expected to account for the largest share of the endotherapy devices market in 2023. The large market share of this segment is mainly attributed to the use of endotherapy devices in performing various GI procedures, such as endoscopic retrograde cholangiopancreatography (ERCP), endoscopic submucosal dissection (ESD), and peroral endoscopic myotomy (POEM) is driving the market. The preference for minimally invasive devices is rising to prevent complications during the procedure, reducing the chances of infection and hospital stay. These factors support the high adoption of endotherapy devices.

The stents segment is expected to register the highest CAGR over the forecast period. Factors such as inclination toward minimally-invasive endoscopic stenting and stent placement as a relatively safe procedure are driving market growth. As balloon dilation, an alternative for endoscopic stenting, involves the risk of restenosis, endoscopic stenting is preferred over balloon dilation for the treatment of strictures, driving the market growth.

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Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa. In 2023, North America is expected to account for the largest share of the endotherapy devices market. The large market share of this region can be attributed to the high awareness of endoscopic procedures, high adoption of endotherapy devices, advanced healthcare infrastructure, and presence of global and local key players. Additionally, the high utilization rate of endotherapy devices by endoscopists in North America is driving the regional market share.

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