“Rising burden of gastrointestinal diseases to escalate the use of endotherapy devices as critical components in interventional procedures”
Interventional endoscopy is rapidly emerging as an effective minimally invasive treatment modality to treat gastrointestinal diseases. With the rising prevalence of pancreatic diseases, endotherapy devices will gain immense popularity across healthcare facilities since endoscopic therapy is widely accepted as the preferred treatment option over surgery.
Pancreatic cancer remains the leading cause of cancer death worldwide. According to the 2020 Global Cancer Statistics, 495,773 new cases and 466,003 deaths due to pancreatic cancer were reported. This factor could escalate the use of pancreatic endotherapy devices as a diagnostic tool to treat abnormalities in the pancreas. According to a Global Market Insights Inc. report, the endotherapy devices market size is expected to cross USD 7 billion by 2028.
Another key factor contributing to the rise in endotherapy procedures is the increase in regulatory approvals of innovative endoscopic devices. For instance, in October 2021, FUJIFILM Healthcare Americas Corporation introduced its new U.S. FDA-approved dual-channel endoscope, El-740D/S, for lower and upper gastrointestinal applications. This advanced product featured dual channel diameters of 3.2mm and 3.7mm, enabling the use of a variety of endotherapy devices.
Increasing elderly population and burden of upper GI bleeding will boost endotherapy procedure popularity
The older population is susceptible to gradual deterioration of gastrointestinal (GI) function, such as immune function, along with a higher risk of viral and bacterial GI infections as compared to young people. With the geriatric population growing rapidly across the globe, the demand for endotherapy treatment will also witness substantial growth.
According to the World Health Organization, the number of people aged 60 years and above will likely reach 2.1 billion by 2050, indicating growth potential for the manufacturers of endotherapy devices for elderly patients with GI problems.
Endotherapy devices like hemoclips are also being used to close defects in the GI tract and achieve hemostasis in endoscopic procedures. Based on data from a Global Market Insights Inc. report, the endotherapy devices industry from the gastrointestinal devices and accessories segment is estimated to depict a growth rate of 7.8% through 2028.
Rising instances of upper GI peptic ulcer bleeding, a condition prevalent in regions like the United States, is encouraging more medical device manufacturing companies to expand product reach across the nation. For example, in January 2022, Cook Medical announced the commercial availability of Instinct Plus, an endoscopic clipping device, for physicians in the U.S. This adjustable clipping, which can open up to 16 millimeters wide, was designed for anchoring procedures, defect closure, and prophylactic clipping in the GI tract. Innovative product launches such as these are boosting the productivity of the endotherapy devices market worldwide.
Growing burden of gastric cancer and UGIB will create favorable business environments for European endotherapy devices makers
Gastric cancer is becoming highly prevalent and emerging as the leading cause of cancer-related deaths in regions like Europe. According to data from Digestive Cancers Europe, approximately 136,000 people are diagnosed with this type of cancer each year, while around 97,000 patients die due to the disease in Europe. Situations like these could encourage regional endotherapy device makers to design innovative products to effectively treat gastric cancer patients.
Other conditions like upper gastrointestinal bleeding (UGIB) have also become a disease of concern among the European population. According to the European Commission, the life-threatening emergency, UGIB, results in 2 million hospitalizations every year in Europe. This factor could bolster endotherapy interventions across healthcare facilities, given its potential to reduce mortality and morbidity risks arising from conditions like these.
Rapid advancements in interventional techniques have placed endotherapy at the forefront of the management of gastrointestinal complications. The advent of varied innovative products like hemoclips has also expanded the scope of treatment for chronic GI diseases, further creating a strong outlook for the endotherapy devices market over the foreseeable future.
Credit: Source link