PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1568796
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1568796
The Global Endotherapy Devices Market will record a 7.8% CAGR from 2024 to 2032, driven by technological improvements. This includes the development of innovative, minimally invasive endoscopic tools, which have significantly enhanced the efficacy and safety of procedures. The World Health Organization (WHO) reported that in 2023, there were over 1.9 million new cases of gastrointestinal cancers worldwide, contributing to increased demand for endoscopic interventions.
As gastrointestinal diseases and cancers become more prevalent, the demand for endoscopic interventions surges, driving market growth. Furthermore, both patients and healthcare providers increasingly favor minimally invasive procedures, drawn by quicker recovery times and reduced complication risks, further fueling this market expansion.
The endotherapy devices market is categorized by product, end-use, and region.
During the study period, the endoscopic retrograde cholangiopancreatography (ERCP) devices and accessories segment is set to witness significant growth. This uptick is largely due to the rising cases of biliary and pancreatic disorders, which necessitate precise diagnostic and therapeutic measures. With healthcare systems prioritizing diagnostic accuracy and improved patient outcomes, ERCP procedures are gaining traction for their detailed imaging capabilities and effective treatment facilitation for intricate conditions. Moreover, technological advancements in endoscopy, which boost procedural efficiency and patient comfort, are further propelling the adoption of ERCP devices.
By 2032, the ambulatory surgical centers (ASCs) segment is poised to secure a substantial share of the endotherapy devices market. ASCs, known for their cost-effectiveness and patient convenience, are becoming the go-to choice for outpatient procedures. This trend towards outpatient care has led ASCs to invest in cutting-edge endotherapy devices, aiming to elevate procedural capabilities and patient outcomes. The growing number of ASCs, coupled with their commitment to high-quality, minimally invasive procedures, underscores the increasing adoption of endotherapy technologies in the market.
Europe endotherapy devices market is set for robust growth through 2024-2032, spurred by a heightened focus on early diagnosis and preventive care in its healthcare systems. The European Society of Gastrointestinal Endoscopy (ESGE) reported a 10% uptick in endotherapy device usage in Europe from 2023 to 2024, aligning with the rising prevalence of gastrointestinal diseases.
Market growth is further fueled by an aging population, more prone to chronic diseases needing endoscopic care. Coupled with advancements in healthcare infrastructure and supportive government policies championing medical technology innovations, these factors bolster the market's expansion.