Market Trends of Sweden Minimally Invasive Surgery Devices Industry
This section covers the major market trends shaping the Sweden Minimally Invasive Surgery Devices Market according to our research experts:
Gastrointestinal Segment is Expected to Hold the Major Market Share Over the Forecast Period
The gastrointestinal segment is expected to occupy a major market share and register rapid growth over the forecast period, owing to the rising incidence of gastrointestinal diseases around the world. The gastrointestinal system in the body comprises the gastrointestinal tract, digestive tract, and alimentary canal. The major diseases associated with the system are irritable bowel syndrome (IBS), Crohn's disease, peptic ulcers, and others. The high burden of gastrointestinal diseases is the major factor driving the growth of the segment. For instance, as per the study published in May 2022, by PLOS One, in Sweden, the overall incidence rate was 360/1000 persons per year. Moreover, acute gastrointestinal illnesses (AGI) impose a substantial economic burden on the population and healthcare system. Thus, the high prevalence of acute gastrointestinal illnesses is expected to drive the growth of the gastrointestinal segment.
The high prevalence of cancers related to the gastrointestinal tract, such as colon and rectum cancers, is expected to drive the demand for minimally invasive procedures, augmenting the market growth over the forecast period. For instance, as per GLOBOCAN's estimates, in 2020, there were 4.42 thousand new cases of colon cancer and 2.18 thousand new cases of rectum cancer in Sweden. In recent years, minimally invasive surgeries, such as laparoscopic or robotic surgery, have become the predominant treatment option for colon cancer, which is expected to boost the market's growth.
Thus, all the aforementioned factors are expected to boost the segment's growth over the forecast period.
Endoscopy Segment is Expected to Witness Growth in the Forecast Period
Endoscopes are minimally-invasive devices and can be inserted into natural openings of the body to observe an internal organ or a tissue in detail. Endoscopic surgeries are performed for imaging procedures and minor surgeries.
The increasing prevalence of chronic disorders, like cancer, the rising aging population, increasing demand for flexible endoscopes, technological innovations, and new product launches are expected to drive the endoscopy segment during the forecast period.
Gastrointestinal tumors are the second-largest cause of cancer-related deaths worldwide. Endoscopy has proved to be the standard for the diagnosis of gastrointestinal cancers. Thus, an increase in endoscopic procedures for the early diagnosis of gastrointestinal cancers is expected to boost the market in the coming years. The majority of gastrointestinal stromal tumors usually start in the rectum, colon, and esophagus. Most people diagnosed with gastrointestinal stromal tumors are over 50 years of age. The rising prevalence of these tumors will drive the market. According to GLOBOCAN data updated in 2020, the country had 2.18 thousand new rectum cancer cases, which is expected to increase to 2.72 thousand cases by 2040. Thus, the high incidence of colorectal cancer will drive its diagnosis and treatment, therefore driving the endoscopy segment.
Thus, owing to the above-mentioned factors, the segment is expected to witness significant growth over the forecast period.
