Advancements in diagnostic techniques will be the key factor that will drive the global endoscopic stricture management devices market, as per a report by Fortune Business Insights, titled “Endoscopic Stricture Management Devices market”, Share and Global Trend By Product Type (Stent, Bougie Dilator, Balloon Dilator), By Application (Esophageal, Biliary, Colonic, Pyloric, Others), By End Users (Hospitals, Ambulatory Surgery Centres, Specialty Clinics, Others) and Geography Forecast till 2026”. The report also highlights the upcoming market trends and the factors that will be pivotal in shaping the market during the forecast period.
Endoscopy is a minimally invasive medical method which is commonly used by doctors to investigate and operate on internal organs in one’s body. The procedure does not necessitate making large incisions and can be done through a small cut in the body or even an opening such as the mouth. A stricture refers to an abnormal narrowing of a tube or canal in the body. It could be a result of a tumor or a scar. For example, esophageal cancer is known to cause malignant strictures. Endoscopic dilation is a measure generally applied to remove obstructions caused by strictures in the colon or esophagus.
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Market Competition to Intensify with Increasing Innovations
Major participants in the global endoscopic stricture management devices market are focusing their energies on producing innovative products for the market. For example, Boston Scientific Corporation developed the AXIOS Stent and Electrocautery Enhanced Delivery System that enables minimally invasive endoscopic drainage of pancreatic pseudo-cysts. Moreover, regulatory clearances to new products will boost investment in research by companies. For example, in 2017, the FDA green signalled PENTAX Medical’s C2 CryoBalloon Ablation System that effectively treats Barrett’s Esophagus.
Fortune Business Insights identifies some of the key players in the global endoscopic stricture management devices market. These include Merit Medical Endotek, Boston Scientific Corporation, Richard Wolf GmbH, HOBBS MEDICAL INC., Teleflex Incorporated, Ovesco Endoscopy AG, CONMED Corporation, and others.
Increasing Instances of Esophageal Disorders to Fuel the Market
The esophagus is a crucial body part that performs the critical function of carrying food and liquids from the mouth to the stomach. The most common disorder is the Gastroesophageal Reflux Disease (GERD), which is becoming a regular occurrence across the globe. For example, according to the International Foundation for Gastrointestinal Disorders, the GERD affects around 18 to 28% of the people in North America. This bears good news for the global endoscopic stricture management devices market expansion, since growing prevalence of GERD and other esophageal diseases would broaden the patient pool.
However, despite having a rapidly swelling patient pool, there is worrisome lack of trained professionals and experts dealing in endoscopic stricture technology, especially in developing nations. The demand and supply mismatch will also escalate the cost procedures in these countries. The global endoscopic stricture management devices market may experience restrained growth during the forecast period as a result.
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North America to Hold Largest Market Share; Europe to Closely Follow
North America and Europe are expected to occupy prominent positions in the global endoscopic stricture management devices market till 2026. High adoption rates of advanced devices and growing prevalence of ulcers are drivers that will push the market in North America. The market in Asia-Pacific is anticipated to grow considerably, primarily on account of Japan that is is witnessing a rising incidence rate of esophageal disorders, which will expand the global endoscopic stricture management devices market size.
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