Promulgation of digitization to drive the Endoscopic Retrieval Devices Market

The Endoscopic Retrieval Devices Market is expected to witness a staggering CAGR going forward. The gamut of care is being driven by the usage of sensors, digital technologies, and wearables, thereby allowing the healthcare personnel to delve deep into the patients' live - be it pre-operative, post-operative, or the period in between. Consumer tech companies are into making caregivers visible outside of the clinical environment a reality.

According to the latest research by Persistence Market Research, the endoscopic retrieval devices market is set to witness a growth of 9.04% during the forecast period. Demand for endoscopic retrieval devices market expects to witness stable recovery in the short-term, with a positive growth outlook in the long run. The progress for the endoscopic retrieval devices market industry will offer lucrative opportunities in near future.

The market for endoscopic retrieval equipment has witnessed a significant increase in recent years as a result of various advantages of endoscopy that have made it popular among surgeons. With the increasing lifestyle changes and high prevalence of junk food, there has been an increased cases of persistent digestive disorders in the population around the world.

According to the National Institute of Diabetes and Digestive and Kidney, persistent digestive disorders affect around 70 million people annually. This statistics also include a staggering number of 48.3 million patients accessing ambulatory care for the treatment of digestive disorders every year.

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Another factor that has fueled the expansion of the endoscopic retrieval devices demand is the procedure's low morbidity and death rates. The introduction of telemedicine in all the fields, including surgery has made it possible to treat patients from any remote locations using endoscopic retrieval devices. This has proven to be a driving factor in the development of this field.

Other developments that are assisting important market players in countering the pre-existing disproportionate ratio of demand against delivered capacity of the endoscopy procedure include continuous system assessment and improvement, as well as recruitment of the well trained professionals, who can handle the endoscopic retrieval devices for all the procedures.

On October 30, 2020, Olympus Corporation, a leading player in the medical devices manufacturing, announced the launch of "StoneMasterV" and "VortiCatchV" EndoTherapy devices, which are the latest technology in the field of endoscopic retrieval devices for endoscopic retrograde cholangiopancreatography (ERCP).

The StoneMasterV endoscopic treatment device combines a sphincterotomy and various sizes of expansion balloons into one endoscopic device to optimize endoscopic sphincterotomy and the performance of papillary expansion.

The VorticCatchV is a single-use nitinol endoscopic retrieval device in the form of a basket, specially designed for ERCP extraction for the treatment of difficultly placed bile stones. This device can be used for retrieval of the stone which is located in a bile-duct pocket, in a narrow duct or in the intrahepatic duct. It can also be used for heavy sludge removal after a lithotripsy procedure.

Both of these products are designed with innovation to aid the surgeons in expanding their capabilities. These devices provide the surgeons with enhanced procedural outcomes with high level efficiency for challenging positions of bile duct stones.

The primary driving force behind technological progress in the US gastrointestinal endoscopic retrieval equipment market is the natural preference for less than ideal non-invasive treatment methods. This market is constantly expanding its impact in the therapeutic field, solving diseases that were previously only treated with more invasive methods but now "through the scope".

The demand for this field also continues to rise in the US region because various multispecialty hospitals are acquiring outpatient facilities under their umbrella and expanding their reach into the market and group purchasing organizations (GPOs).

There are also various reimbursement facilities available for patients undergoing endoscopic procedures, which is proving to be another key factor in the surging demand for endoscopic retrieval devices market.

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The European market is expected to show a slow growth in the field of endoscopic retrieval devices sale accounting to its saturated nature. But some growth is anticipated during the forecast period. Owing to the geriatric population in the region, there are increased incidences of colorectal cancer amongst them.

Due to this reason, there has been increased awareness for cancer screening through endoscopic procedures. All these factors are contributing to a low rise of endoscopic retrieval devices market in this continent.

Who are the Key Manufacturers of Endoscopic Retrieval Devices?
Some of the dominant manufacturers of endoscopic retrieval devices demand focus are,
• Well Lead Medical Co. Ltd
• Jiangsu Ate Medical Technology
• Plasti-Med
• Steris Healthcare
• Medorah Meditek
• Micro Tech Endoscopy
• Olympus Corporation
• Boston Scientific
• Medinova Endosys
• Stryker Corporation
• Smith and Nephew Co
• Johnson and Johnson
• Karl Storz SE GmbH
• Pentax Medical
• Medtronic PLC
• Shaili Endoscopy
• Medtronic
• ConMed Corporation.

On August 6th 2021, Medtronic has announced that they will acquire all outstanding shares of the Menlo Park, California-based nasal sinus implant manufacturer at a price of US $ 28.25 per share through a cash transaction. The transaction is expected to be completed by the end of Medtronic's 2021-22 fiscal year, provided customary closing conditions are met, including receipt of regulatory approval and approval from Intersect ENT shareholders.

Intersect ENT Propel Implants are primarily used in hospitals and ambulatory surgery centers. These bio absorbable drug-eluting implants are used after sinus surgery to keep the channels open. The company designed it to treat patients with chronic sinusitis (CRS).

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Key Segments:
By Product Type:
• Snares
• Retrieval Forceps
• Nets
• Retrieval Graspers
• Baskets
• Magnetic Retrievers
• Biliary Stent Retrieval Devices

By Application:
• Biopsy
• Polypectomy
• Biliary Stone Management and Drainage
• Gastroesophageal Reflux Disease (GERD)
• Obesity
• Esophageal and Colon Stricture Management
• Hemostasis and Suturing
• Others

By Usage:
• Single-use
• Reprocessing
• Sterilization

By End-User:
• Hospitals
• Ambulatory Surgical Centers
• Diagnostic Centers
• Clinics

By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

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This release was published on openPR.