Market Trends of Endoscopic Stricture Management Industry
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.
