Meticulous Research® Forecasts Global Endotherapy Devices Market to Surpass $7 Billion by 2030

[Redding, California, March 12, 2024] - Meticulous Research®, a leading provider of market intelligence solutions, has released its latest report titled 'Endotherapy Devices Market,' projecting a significant surge to $7 billion by 2030, showcasing an impressive Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period from 2023 to 2030.

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Market Overview:
Endotherapy devices, integral components of endoscopic procedures, play a pivotal role in modern healthcare practices. These devices, utilized across diverse medical disciplines including cardiology, gastroenterology, and nephrology, are instrumental in diagnosing and treating various medical conditions. The market's robust growth trajectory is underpinned by escalating endoscopic procedures, demographic shifts towards an aging population, and continuous technological advancements. Despite these growth drivers, the market faces challenges such as the high cost of endotherapy devices. Nevertheless, burgeoning demand for endoscopic procedures, particularly in emerging markets, presents lucrative opportunities for market players.

Driving Factors:
The global burden of diseases necessitating endoscopic interventions, including cancer, lung disorders, and gastrointestinal conditions, is on the rise. As per GLOBOCAN, the worldwide cancer burden reached 18.1 million cases in 2020, underscoring the imperative need for effective diagnostic and therapeutic interventions. Consequently, the demand for endotherapy devices is expected to surge, driven by the increasing prevalence of chronic diseases and the expanding elderly population. Moreover, heightened awareness regarding the efficacy and safety of endotherapy devices, coupled with robust training initiatives for healthcare professionals, further fuels market growth.

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Key Players:
Leading market participants driving innovation in the 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.
Market Segmentation and Key Findings:

Among all applications studied in this report, in 2023, upper gastrointestinal (GI) endoscopy is expected to account for the largest share of the endotherapy devices market. The burden of GI disorders on the healthcare system and the costs associated with managing GI disorders are high. The rising prevalence of gastrointestinal disorders accounts for the market's largest share. Gastrointestinal endoscopy offers treatment for various health conditions, such as removing swallowed objects, managing bleeding in the upper digestive tract, stretching narrowed digestive tract, and removing polyps. Additionally, the dependency on endoscopic procedures is rising, supporting the growing usage of endotherapy devices. These factors are supporting the largest share of the market.

Endoscopic stents are used to treat several illnesses, such as primary sclerosing cholangitis, metastatic disease, and pancreaticobiliary malignancy. Additionally, a stent is inserted in the esophagus to remove the blockage and help in swallowing liquid and solids as well as stents are increasingly used in the pancreatic ducts to bypass strictures and widen the part of the ducts. The rising number of diseases requiring endoscopic stenting is driving its demand.

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Among all regions studied in this report, in 2023, North America is expected to account for the largest share of the global endotherapy devices market. The large market share of North America is attributed to technological advancements in endotherapy, the increasing prevalence of chronic diseases, and increased healthcare spending. Additionally, the increasing geriatric population and the rising prevalence of gastrointestinal cancer drive the market.

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This release was published on openPR.