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The endoscopic mucosal resection devices market size is estimated to grow at a CAGR of 9.42% between 2022 and 2027. The market size is forecast to increase by USD 803.49 million. The growth of the market depends on several factors, including the favorable initiatives and increasing prevalence of gastrointestinal diseases, the growing popularity of minimally invasive procedures, and the increasing growth opportunities in emerging markets.
This endoscopic mucosal resection devices market report extensively covers market segmentation by end-user (hospitals, ASCs, and clinics and others), product (entry needle, mucosectomy snare, and probe), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing popularity of minimally invasive procedures is notably driving the market growth, although factors such as the lack of skilled expertise may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising popularity of minimally invasive surgery is expected to boost the global market for endoscopic mucosal resection devices. Due to advances in endoscopic technology, surgeons prefer minimally invasive surgery over traditional open surgery. This is because these procedures result in less blood loss, lower risk of infection, shorter hospital stays, and improved quality of life for patients. Additionally, healthcare providers are encouraging a transition from traditional open surgery to minimally invasive surgery. This is because open surgery is more painful and requires a longer hospital stay than minimally invasive surgery.
The demand for minimally invasive surgeries is rising because of the increasing complications associated with traditional open surgeries. Conventional open surgeries can cause various post-operation complications, including pain, blood clots, fatigue, muscle atrophy, and infections. In addition, anesthesia administered before opening surgeries can cause sore throat, nausea, and sleepiness. The above factors will increase the market growth during the forecast period.
Increasing R&D investments and product launches is the primary trend in the global endoscopic mucosal resection devices market. An increase in R&D spending is likely to benefit market growth during the forecast period. Vendors in this market invest huge amounts of money in research activities to update existing products and launch new products to keep up with market growth. For instance, Boston Scientific is investing huge amounts in R&D activities to fuel its future growth and remain competitive in the market. In 2022, Boston Scientific Corp., R&D expenses increased by USD 119 million, or 10%, compared to 2021. The costs include new product development programs and regulatory compliance.
Furthermore, in 2022, Olympus launched Triangle Tip Knife and electrosurgical knife, which can be used in endoscopic mucosal resection procedures. Such initiatives from the companies are leading to the introduction of new products to the market. Thus, the adoption of endoscopic mucosal resection devices in the market is expected to increase, which, in turn, will drive the growth of the market during the forecast period.
Lack of skilled expertise is a major challenge to the growth of the global endoscopic mucosal resection devices market. Endoscopic procedures such as endoscopic mucosal resection require highly skilled professionals to prevent certain risks and complications. Lack of expertise in handling endoscopic mucosal resection devices during the examination can lead to complications such as bleeding, perforation, and pain. For instance, using an endoscope during the endoscopic mucosal resection technique involves restricted operating area vision, requires proper hand-eye coordination, and needs handling of various complicated devices to enhance procedural outcomes. Moreover, in hospitals and other healthcare facilities, the staff must be trained to use endoscopic devices for better procedural outcomes. The staff needs to be certified to use such devices and perform advanced endoscopies.
However, the healthcare industry is facing a shortage of skilled experts and medical staff. For instance, the US has been facing a shortage of gastroenterologists since 2016. This makes the use of endoscopy devices less practical in many hospitals. Furthermore, the number of endoscopists in emerging economies is low. Thus, the shortage of skilled endoscopy technicians and experts is likely to discourage the use of endoscopic mucosal resection devices, which, in turn, will hamper the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Endoscopic Mucosal Resection Devices Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Boston Scientific Corp.: The company offers endoscopic mucosal resection devices such as Captivator EMR device.
The report also includes detailed analyses of the competitive landscape of the market and information about 11 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the hospitals segment will be significant during the forecast period. Hospitals have state-of-the-art infrastructure to fulfill the needs of patients. They have facilities for the diagnosis and monitoring of chronic diseases and have highly equipped special operating rooms, which will further contribute to the growth of the segment.
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The hospital segment was valued at USD 509.06 million in 2017 and continued to grow until 2021. The hospital segment is growing steadily due to the availability and favorable reimbursement policies of endoscopic mucosal resection devices. Many hospitals in developed countries have endoscopy facilities with advanced technology. Hospital endoscopy departments are well-equipped with various resection devices, carts, cabinets, accessories, medicines, inhalers, visualization and documentation systems. Such factors are likely to meet end-user demand and benefit the growth of the hospital segment during the forecast period.
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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America is a dominating region in the global endoscopic mucosal resection devices market, with the US and Canada as the leading revenue-generating countries. Factors contributing to the market growth are the presence of major vendors in this region, increasing demand for minimally invasive surgery techniques, growing prevalence of gastrointestinal diseases, and availability of advanced endoscopic mucosal resection kits used for resection procedures.
Moreover, the rapidly increasing technological advances in the endoscopy field are pushing vendors to launch new endoscopic mucosal resection devices. Furthermore, physicians prefer advanced technological products with proven results. Hence, manufacturers are offering single-use and reusable endoscopic mucosal resection devices, which will further increase the adoption of these devices in healthcare centers and favor the growth of the market in North America during the forecast period.
In 2020, the endoscopic mucosal resection devices market in the region witnessed a slight decline owing to the outbreak of COVID-19. However, with the initiation of vaccination drives and government initiatives in 2021, the market started to recover. This resulted in the resumption of postponed gastrointestinal disease diagnosis and therapeutics in 2021 and Q1 2022. Also, the growing developments by vendors for endoscopic mucosal resection devices in the region will leverage the regional market during the forecast period.
The endoscopic mucosal resection devices market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global endoscopic mucosal resection devices market as a part of the global healthcare equipment market. The parent, global healthcare equipment market covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Endoscopic Mucosal Resection Devices Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.42% |
Market growth 2023-2027 |
USD 803.49 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
8.49 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 34% |
Key countries |
US, Germany, UK, Japan, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Boston Scientific Corp., Conmed Corp., Cook Group Inc., Erbe Elektromedizin GmbH, Interscope Inc., Medtronic Plc, Micro-Tech (Nanjing) Co. Ltd., MTW-Endoskopie W. Haag KG, Olympus Corp., Ovesco Endoscopy AG, STERIS Plc, and Sumitomo Bakelite Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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