Market Trends of Gastrointestinal Devices Industry
Endoscopic Retrograde Cholangiopancreatography Devices (ERCP) is Expected to Witness Significant Growth Over the Forecast Period
- The endoscopic retrograde cholangiopancreatography device is a side-viewing duodenoscope capable of conducting combined endoscopic and fluoroscopic procedures. Factors such as the rising incidence of gastroenteritis and an increasing trend of digestive disorders in the adult population are expected to propel the demand for the endoscopic retrograde cholangiopancreatography devices market over the forecast period.
- Research studies have highlighted the advantages and efficacy of endoscopic retrograde cholangiopancreatography devices, which are anticipated to create more opportunities for the segment. For instance, a study published in the World Journal of Gastrointestinal Endoscopy in August 2021 explains endoscopic retrograde cholangiopancreatography (ERCP) has evolved more slowly, yet there have been periods of innovation with fast development in spite of the outbreak of the pandemic. With an increasing concern regarding reusable duodenoscopes being linked to nosocomial outbreaks, a trend toward disposable components and disposable duodenoscopes has emerged.
- Further, a study published in the Journal of Clinical Medicine in April 2021 highlighted the recent technological advancements in interventional endoscopic retrograde cholangiopancreatography devices for patients with surgically altered anatomy.
- The study also mentioned that laparoscopy-assisted endoscopic retrograde cholangiopancreatography devices are utilized to access the target site of the papilla or hepaticojejunal anastomosis when it cannot be accessed by balloon enteroscopy. Such studies highlight the advantage of endoscopic retrograde cholangiopancreatography devices, which is anticipated to increase the adoption of these devices, thereby surging the market growth.
- Furthermore, in November 2022, Shanghai Operation Robot Co., Ltd. demonstrated the results of its initial clinical trial of an ERCP (Endoscopic retrograde cholangiopancreatography) robot for performing biliary stent placement surgery. The surgery is the first robot-assisted human clinical trial of biliary stent placement surgery and was conducted by Aopeng Medical. Such developments are expected to increase the market penetration of endoscopic retrograde cholangiopancreatography devices, which is expected to bolster the segment's growth over the forecast period.
- Therefore, the endoscopic retrograde cholangiopancreatography devices segment is expected to witness significant growth over the forecast period due to the increasing related research works and technological advancements.
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North America is Expected to Witness Significant Growth Over the Forecast Period
- The North American market is expected to grow owing to the high burden of gastrointestinal diseases and the presence of leading market players in the region. For instance, the data published by the American Cancer Society in 2023 stated that over 153.02 million new cases of colorectum cancer were estimated in the United States in 2023. Furthermore, as per the data published by the Canada Cancer Society in May 2022, it was estimated that over 4,100 people were estimated to be diagnosed with stomach cancer in Canada in 2022.
- Also, the data published by Crohn's and Colitis Canada in 2021 stated that over 300.0 million people in Canada were estimated to have inflammatory bowel disease, and it is expected to increase further to 403.0 million by 2030. Thus, owing to such a high burden of gastrointestinal diseases and digestive disorders (gastroesophageal reflux disease, cancer, irritable bowel syndrome, lactose intolerance, and hiatal hernia), the North American gastrointestinal devices market is likely to grow at a large rate over the forecast period.
- The factors driving the growth of the gastrointestinal devices market in the United States include key product launches, a high concentration of geriatric patients, and several manufacturer's presence in the country. For instance, in May 2022, Lumendi, LLC announced that the DiLumen EZ1, a single-use, disposable endo-therapy device intended for endoscopic mucosal resections (EMR) and colonoscopies, received the United States Food and Drug Administration 510(k) approval.
- Similarly, in February 2022, Motus GI received U.S. FDA clearance to market the Pure-Vu EVS System, which is intended to speed the set-up and improve navigation in tortuous anatomy. It also helps physicians to quickly overcome the obstacles of poorly prepared colons during a colonoscopy. Furthermore, in April 2021, the United States Food and Drug Administration approved the first medical device that employs artificial intelligence to help clinicians spot potential anomalies in the colon in real-time, de novo clearance for the GI GeniusTM intelligent endoscopy module. The GI Genius module is the first and only commercially available artificial intelligence (AI)-based computer-aided detection (CADe) system for detecting colorectal polyps.
- Therefore, such a high burden of gastrointestinal diseases and the presence of leading players are expected to boost the growth of the studied market in the North American region.
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