Endoscopic Stricture Management Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.01 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Endoscopic Stricture Management Market Analysis
The endoscopic stricture management market is expected to register a CAGR of nearly 6.01% during the forecast period.
The COVID-19 pandemic significantly impacted the market during the initial phase due to reduced surgical procedures. However, several stricture surgeries increased during the later stages of the pandemic. The research and development also increased related to stricture-related operations. An article published in Endoscopy International Open-access journal in January 2021 concluded that upper gastrointestinal (GI) stenting increased during the COVID-19 outbreak.
Additionally, as per another article published in the Cureus Journal in September 2021 during the pandemic, google analytics data showed an increased search trend for 18 terms, including urethral stricture. These instances show a demand for stricture management during the initial pandemic days, which is still growing, following various GI diseases. The sector has been recovering well over the last two years, which may lead to market growth in the post-pandemic era.
Factors such as the increasing geriatric population, a rise in the prevalence of GI disorders, new product launches with advanced technologies, and a preference for minimally invasive procedures are expected to fuel the market growth over the analysis period.
GI disorders are increasing globally. This creates the demand for endoscopic stricture management as strictures are commonly found in such diseases. For instance, the increasing colon cancer globally is one of the prime factors bolstering the demand for the prevention of colon stricture, which is a major cause of colon cancer. As per WHO's February 2022 update, colon cancer is one of the most common cancers in the population worldwide. An estimated 1.93 million new cases of colon and rectum cancers were reported globally in the year 2020. In addition, various sources show that in palliative and neoadjuvant settings, stenting is crucial in alleviating esophageal, gastroduodenal, or colorectal obstruction symptoms. Thus, endoscopic insertion of self-expanding metal stents (SEMSs) has a frontline application for managing malignant obstruction or stricture of the gastrointestinal tract (GIT). Thus, the demand for endoscopic stricture management is rising with increased colon cancer. This is expected to contribute to market growth during the analysis period.
Moreover, product launches, approvals, and other strategic activities by regional and global market players contribute to the overall market growth. For instance, in July 2022, Merit Medical Systems launched its pulmonary balloon dilator's most minor and shortest configuration. This new configuration helps physicians to safely dilate challenging strictures, including clogs in short airways, without fear of over-dilating past the intended site. Thus, the product launches are anticipated to fuel the market growth during the analysis period.
Therefore, the factors described above are expected to fuel the studied market growth. However, the lack of professionals with expertise in endoscopic stricture management and the high cost of GI endoscopic procedures are predicted to restrain the development of the market.
Endoscopic Stricture Management Market Trends
This section covers the major market trends shaping the Endoscopic Stricture Management Market according to our research experts:
Stents Expected to Hold Significant Share
A stent is a flexible, self-expandable, hollow metal or plastic tube used to help open any obstruction in the gastrointestinal (GI) tract that any clog has blocked. Enteral stents are used to help the patient continue to eat or as a preparation for surgery. Also, developing GI stents relieves the symptoms of numerous disorders that clog the GI tract. Thus, owing to increased GI diseases globally and the advantages the stents provide, the use of stents is increasing. This is fueling segment growth.
Corrosive upper gastrointestinal strictures (GIS) are common in children, and primarily accidental ingestion, commonly in younger children, contributes to the GIS. In these cases, stents are used. For instance, according to an article published in WJCP in November 2021, resistant caustic strictures are the most common indication of stent placement in children. In most cases, stents can be utilized along with endoscopic dilatation. Such instances increase the usage of stents for various indications. This is expected to contribute to the segment's growth over the forecast period.
Moreover, the technological advancements in the stents for better outcomes are anticipated to contribute to the segment's growth. For instance, in February 2022, Micro-Tech Endoscopy introduced the first self-expanding tracheobronchial nitinol y-stent. The Y-Shaped Tracheal Stent System's nitinol self-expanding construction and simplicity of use make it efficient at relieving patients with malignant tracheobronchial strictures. Thus, such development is expected to fuel the segment's growth.
Therefore, owing to the factors above, the segment is anticipated to witness significant growth over the analysis period.
North America Anticipated to Witness Growth in the Market
The North American endoscopic stricture management market is growing and is expected to do the same over the forecast period. The factors include the increasing geriatric population and the number of gastrointestinal (GI) disorders in countries across the region.
The growing burden of GI disorders in the United States contributes to market growth. As per the 2022 report of the ACS, in the United States, 106,180 new cases of colon cancer and 44,850 new cases of rectal cancer are expected to be diagnosed in 2022. Also, as per the HHS 2022 update, 149,500 colorectal cancer cases were identified in 2021. This shows an increasing trend in gastrointestinal cancers in the country. In addition, as per the 2021 report of the International Foundation for Gastrointestinal Disorders (IFFGD), 25 to 45 million people were affected by irritable bowel syndrome with the disease in the United States in 2021.
In addition, GI disorders are also increasing in other countries, such as Mexico and Canada. For instance, as per the 2022 update by the Canadian Digestive Health Foundation (CDHF), nearly 20 million or more Canadians suffer from digestive disorders yearly. These gastrointestinal diseases are responsible for strictures in the GI tract, creating demand for the availability of stricture management devices. As endoscopic stricture management devices, such as balloon dilators, stents, and bougie dilators, provide better outcomes, the need for such devices is increasing in the United States. This is expected to contribute to the overall market growth in the region.
Moreover, the presence of most of the market players in the region's countries actively engaged in product development contributes to the growth of the studied market. For instance, in December 2021, Urotronic, Inc., a Minnesota-based medical device company, received approval from the Food and Drug Administration (FDA) for its Optilume Urethral Drug-coated Balloon for use in male urethral strictures. Optilume was granted CE mark approval for use in urethral strictures in 2020. Such product development is anticipated to fuel market growth in the region.
Therefore, the above-mentioned factors influence the market's growth and are expected to fuel market growth over the analysis period.
Endoscopic Stricture Management Industry Overview
The overall market for endoscopic stricture management is competitive, with many products available in the market. Most of the stricture management devices are majorly manufactured by the global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, the market studied is witnessing the emergence of some small players due to the rise of awareness about the stricture and followed procedures. Some of the major players in the market are Boston Scientific Corporation, Olympus Corporation, Becton, Dickinson and Company, Cook Medical LLC, CONMED Corporation, STERIS, Medi-Globe Corporation, Hobbs Medical Inc., PanMed US, Merit Medical Systems, and Micro-Tech Endoscopy.
Endoscopic Stricture Management Market Leaders
-
Boston Scientific Corporation
-
Merit Medical Systems
-
CONMED Corporation
-
Cook Medical LLC
-
Olympus Corporation
*Disclaimer: Major Players sorted in no particular order
Endoscopic Stricture Management Market News
- June 2022: Boston Scientific Corporation entered into a definitive agreement with Synergy Innovation Co., Ltd, to purchase its majority stake (approximately 64%) of M.I.Tech Co., Ltd, a publicly traded Korean manufacturer and distributor of medical devices for endoscopic and urologic procedures. M.I.Tech is the creator of the HANAROSTENT technology, a family of conformable, non-vascular, self-expanding metal stents, which Boston Scientific has distributed in Japan since 2015.
- January 2022: Laborie Medical Technologies Inc., a diagnostic and therapeutic medical technology company, acquired a perpetual, exclusive license to the Optilume Urethral Drug-Coated Balloon (DCB) following approval from the Food and Drug Administration (FDA) in early December 2021.
Endoscopic Stricture Management Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions & Market Definition
1.2 Scope Of The Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Geriatric Population and Rise in Prevalence of GI Disorders
4.2.2 New Product Launches with Advanced Technologies and Preference for Minimally Invasive Procedures
4.3 Market Restraints
4.3.1 Highly Expensive GI Endoscopic Procedures and Troublesome Repayment Approaches
4.3.2 Lack of Trained and Skilled Healthcare Professionals in Endoscopic Stricture Technology
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Volume - in USD Million)
5.1 By Type
5.1.1 Balloon Dilators
5.1.2 Stents
5.1.3 Bougie Dilators
5.2 By Application
5.2.1 Esophageal
5.2.2 Biliary
5.2.3 Other Applications
5.3 By End-user
5.3.1 Hospitals
5.3.2 Ambulatory Surgical Centers
5.3.3 Other End-users
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Boston Scientific Corporation
6.1.2 Olympus Corporation
6.1.3 Becton, Dickinson and Company
6.1.4 Cook Medical LLC
6.1.5 CONMED Corporation
6.1.6 STERIS
6.1.7 Medi-Globe Corporation
6.1.8 Hobbs Medical Inc.
6.1.9 PanMed US
6.1.10 Merit Medical Systems
6.1.11 Micro-Tech Endoscopy
6.1.12 Laborie
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Endoscopic Stricture Management Industry Segmentation
Endoscopic stricture refers to an abnormal narrowing or blocking of sections of a tract or canal due to the presence of a tumor or a scar. These strictures are usually treated with endoscopy, a minimally invasive medical method to investigate and operate procedures without making large incisions with the help of various dilation devices and stents.
The Endoscopic Stricture Management Market is Segmented by Type (Balloon Dilators, Stents, and Bougie Dilators), Application (Esophageal, Biliary, and Other Applications), End-user (Hospitals, Ambulatory Surgical Centers, and Other End-users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Type | |
| Balloon Dilators | |
| Stents | |
| Bougie Dilators |
| By Application | |
| Esophageal | |
| Biliary | |
| Other Applications |
| By End-user | |
| Hospitals | |
| Ambulatory Surgical Centers | |
| Other End-users |
| By Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Endoscopic Stricture Management Market Research FAQs
What is the current Endoscopic Stricture Management Market size?
The Endoscopic Stricture Management Market is projected to register a CAGR of greater than 6.01% during the forecast period (2024-2029)
Who are the key players in Endoscopic Stricture Management Market?
Boston Scientific Corporation, Merit Medical Systems, CONMED Corporation, Cook Medical LLC and Olympus Corporation are the major companies operating in the Endoscopic Stricture Management Market.
Which is the fastest growing region in Endoscopic Stricture Management Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Endoscopic Stricture Management Market?
In 2024, the North America accounts for the largest market share in Endoscopic Stricture Management Market.
What years does this Endoscopic Stricture Management Market cover?
The report covers the Endoscopic Stricture Management Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Endoscopic Stricture Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Endoscopic Stricture Management Industry Report
Statistics for the 2024 Endoscopic Stricture Management market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Endoscopic Stricture Management analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
