Market Size of Endoscopic Stricture Management Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.01 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Endoscopic Stricture Management Market Analysis
The endoscopic stricture management market is expected to register a CAGR of nearly 6.01% during the forecast period.
The COVID-19 pandemic significantly impacted the market during the initial phase due to reduced surgical procedures. However, several stricture surgeries increased during the later stages of the pandemic. The research and development also increased related to stricture-related operations. An article published in Endoscopy International Open-access journal in January 2021 concluded that upper gastrointestinal (GI) stenting increased during the COVID-19 outbreak.
Additionally, as per another article published in the Cureus Journal in September 2021 during the pandemic, google analytics data showed an increased search trend for 18 terms, including urethral stricture. These instances show a demand for stricture management during the initial pandemic days, which is still growing, following various GI diseases. The sector has been recovering well over the last two years, which may lead to market growth in the post-pandemic era.
Factors such as the increasing geriatric population, a rise in the prevalence of GI disorders, new product launches with advanced technologies, and a preference for minimally invasive procedures are expected to fuel the market growth over the analysis period.
GI disorders are increasing globally. This creates the demand for endoscopic stricture management as strictures are commonly found in such diseases. For instance, the increasing colon cancer globally is one of the prime factors bolstering the demand for the prevention of colon stricture, which is a major cause of colon cancer. As per WHO's February 2022 update, colon cancer is one of the most common cancers in the population worldwide. An estimated 1.93 million new cases of colon and rectum cancers were reported globally in the year 2020. In addition, various sources show that in palliative and neoadjuvant settings, stenting is crucial in alleviating esophageal, gastroduodenal, or colorectal obstruction symptoms. Thus, endoscopic insertion of self-expanding metal stents (SEMSs) has a frontline application for managing malignant obstruction or stricture of the gastrointestinal tract (GIT). Thus, the demand for endoscopic stricture management is rising with increased colon cancer. This is expected to contribute to market growth during the analysis period.
Moreover, product launches, approvals, and other strategic activities by regional and global market players contribute to the overall market growth. For instance, in July 2022, Merit Medical Systems launched its pulmonary balloon dilator's most minor and shortest configuration. This new configuration helps physicians to safely dilate challenging strictures, including clogs in short airways, without fear of over-dilating past the intended site. Thus, the product launches are anticipated to fuel the market growth during the analysis period.
Therefore, the factors described above are expected to fuel the studied market growth. However, the lack of professionals with expertise in endoscopic stricture management and the high cost of GI endoscopic procedures are predicted to restrain the development of the market.
