Global Sphincterotomes Market - 2024-2031

Global Sphincterotomes Market - 2024-2031

The global sphincterotomes market reached US$ 2.38 billion in 2023 and is expected to reach US$ 2.74 billion by 2031 growing with a CAGR of 1.8% during the forecast period 2024-2031.

A sphincterotome is a specialized medical device used in endoscopic procedures, particularly during ERCP (Endoscopic Retrograde Cholangiopancreatography). It is designed to facilitate access to and treatment of the bile ducts and pancreatic ducts.

The device typically consists of a flexible tube with a cutting wire or electrode at its tip, which allows for precise incisions, cutting, or dilation of strictures (narrowed passages) within these ducts. Sphincterotomes are essential tools in the hands of gastroenterologists and endoscopists for performing therapeutic interventions such as stone removal, stent placement, or tissue sampling in the context of various biliary and pancreatic diseases.

Market Dynamics: Drivers

Rising incidence of anal fissures

The demand for the global sphincterotomes market is driven by multiple factors. One of the primary factors is the rising incidence of anal fissures. Anal fissures are a common anorectal condition characterized by a tear or crack in the lining of the anal canal. They are a frequent cause of anal pain and bleeding, especially during bowel movements.

Anal fissures can be acute (recent) or chronic (persistent for more than 4-6 weeks). Chronic anal fissures are particularly problematic, as they can lead to complications like anal stenosis and anal fistulas if left untreated. According to Medspace news in March 2023, More than 90% of fissures heal after lateral internal sphincterotomy. Eighty-seven percent of people with a chronic anal fissure are between the ages of 20 and 60 years.

According to Research Gate research publication in November 2023, the overall incidence of anal fissures is 1.1 per 1000 person-years, and the average lifetime risk of developing anal fissures is 7.8. In a recent study from India, the prevalence of anal fissures among adult patients with anorectal problems was reported to be 17.8%, thus indicating that every sixth patient with any anorectal problem may have anal fissures as the underlying pathology.

Moreover, key players introducing innovative product launches help the market growth. For instance, in February 2021, Medanta introduced single-use duodenoscope tech for advanced bile and pancreatic treatments.

Duodenoscopes are specialized endoscopes that are used primarily for a procedure called Endoscopic Retrograde Cholangiopancreatography (ERCP). The device allows direct access to the bile or pancreatic ducts to deliver treatment of tumors, common bile duct stones, inflammation, infection, and pancreatic duct stones. The new, lightweight single-use, disposable duodenoscope is suitably designed to eliminate any risk of cross-contamination or infection, thus offering complete sterility and safety.

Restraints

Factors such as the high cost of the procedures, risk associated with the treatment, lack of reimbursement, stringent regulatory requirements, and limited availability of the devices, are expected to hamper the market.

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Segment Analysis

The global sphincterotomes market is segmented based on product type, application, end users, and region.

The pull-type sphincterotomes segment accounted for approximately 43.5% of the global antinauseant drugs market share

The pull-type sphincterotomes segment is expected to hold the largest market share over the forecast period. Pull-type sphincterotomes are the most commonly used type of sphincterotomes. They consist of a Teflon catheter with a cutting wire that partially extends out of the catheter. When tension is applied to the wire via the handle, the distal portion of the catheter becomes curved, and the exposed wire is brought away from the catheter. This configuration facilitates the cannulation of the bile duct during endoscopic procedures.

Major players in the industry's innovative product launches and approvals would propel this segment's growth. For instance, in May 2023, Olympus Corporation announced the FDA clearance of the new EVIS X1 endoscopy system, along with two compatible gastrointestinal endoscopes: the GIF-1100 gastrointestinal video scope indicated for use within the upper digestive tract including the esophagus, stomach, and duodenum; and the CF-HQ1100DL/I colonovideoscope indicated for use within the lower digestive tract including the anus, rectum, sigmoid colon, colon, and ileocecal valve.

Geographical Analysis

North America accounted for approximately 43.5% of the global sphincterotomes market share

North America region is expected to hold the largest market share over the forecast period. The rising prevalence of gastrointestinal disorders, such as gallbladder disease and bile duct disorders, is a major driver for the sphincterotomes market in North America.

According to the Scientific Reports research publication in February 2024, the prevalence of other gastrointestinal disorders, such as functional gastrointestinal disorders (FGIDs), is also rising in the U.S. According to the research, the global prevalence of FGIDs can reach up to 40%.

Moreover, well-advanced healthcare infrastructure, technological advancements, and major players' focus on R&D activities would propel this market growth in this region.

For instance, in July 2022, the American Medical Association (AMA) issued two unique Category III Current Procedural Terminology (CPT) codes for Quantitative Magnetic Resonance Cholangiopancreatography (QMRCP), CPT 0723T and CPT +0724T, otherwise known in the market as MRCP+, which can help clinicians assess patients with diseases of the biliary tree and pancreatic duct. The Centers for Medicare & Medicaid Services (CMS) has issued appropriate reimbursement for the MRCP+ procedure.

Market Segmentation

By Product Type
• Pull-type Sphincterotomes
• Push-type Sphincterotomes
• Needle-type Sphincterotomes
• Shark's fin-type Sphincterotomes
• Others

By Application
• Endoscopic Biliary Sphincterotomy
• Pancreatic Sphincterotomy
• Lateral Internal Sphincterotomy
• Pre-cut Sphincterotomy
• Others

By End User
• Hospital & Specialty Clinics
• Ambulatory Surgical Centers
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
• South America
Brazil
Argentina
The rest of South America
• Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the sphincterotomes market include Cook, Medline Industries, LP, McKesson Medical-Surgical Inc., Olympus America, Boston Scientific Corporation, Medi-Globe GmbH, CONMED Corporation, Shaili Endoscopy, Advin Health Care and G –Flex among others.

Key Developments

 In March 2024, Olympus, announced today the launch of two bronchoscopes as part of the EVIS X1 Endoscopy System. The EVIS X1 Endoscopy System represents the latest in diagnostic and therapeutic bronchoscopy.

 In October 2020, Olympus announced the launch of its StoneMasterV and VorticCatchV EndoTherapy devices, increasing efficiency in bile duct stone management and retrieval for endoscopic retrograde cholangiopancreatography (ERCP).

Why Purchase the Report?
• To visualize the global sphincterotomes market segmentation based on product type, application, end users, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of the antinauseant drugs market with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping is available in Excel consisting of key products of all the major players.

The global sphincterotomes market report would provide approximately 62 tables, 56 figures, and 182 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies