Endotherapy Devices Market Size By Product (Gastrointestinal (GI) Devices & Accessories {Biopsy Forceps [Single-use Biopsy Forceps, Reusable Biopsy Forceps, Hot Biopsy Forceps], Injection Needles [EUS-guided FNA Needles, EUS-guided FNB Needles], Polypecto

Endotherapy Devices Market Size By Product (Gastrointestinal (GI) Devices & Accessories {Biopsy Forceps [Single-use Biopsy Forceps, Reusable Biopsy Forceps, Hot Biopsy Forceps], Injection Needles [EUS-guided FNA Needles, EUS-guided FNB Needles], Polypectomy Snares, Graspers, Hemoclips, Endoscopic Submucosal Dissection (ESD) Knives [Insulation-tipped Knives, Needle-tipped Knives], Hemostasis Forceps, Sclerotherapy Needle}, Endoscopic Retrograde Cholangio Pancreatography (ERCP) Devices & Accessories {Guide Wire, Sphincterotome, Catheter [Drainage Catheter, Dilation Catheter, Guiding Catheter], Extraction Basket, Extraction Balloon, Balloon Dilation, Plastic Stents, Metal Stents}), By End-use (Hospitals, Ambulatory Surgical Centres), Industry Analysis Report, Regional Outlook, COVID-19 Impact Analysis, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The endotherapy devices market is slated to record significant gains by 2028 on account of growing geriatric population worldwide. In addition, burgeoning demand for minimally invasive procedures is speculated to further propel market expansion over the forecast timeline.

Rising prevalence of chronic pancreatitis has accelerated product uptake over the past few years. Studies have found endotherapy to be effective for short-term and long-term pain management in chronic pancreatitis. It provides relief immediately and is less invasive, causing lesser complications. Moreover, recent technological advancements in pancreatic endotherapy have facilitated the widespread availability of minimally invasive endoscopic pancreatic ductal draining procedures.

Notably, industry players have been rolling out innovative products to strengthen their foothold in evolving marketplaces, which has favorably impacted the global business outlook. For instance, in January 2022, Cook Medical, a major provider of minimally invasive medical devices, launched its novel endoscopic clipping device dubbed, the Instinct Plus Endoscopic Clipping Device, in the United States. The Instinct Plus Endoscopic Clipping Device's improved design enables strong clip handling, smooth operation, and responsive handling.

For comprehensive assessment, the endotherapy devices market has been segregated based on end-use, product, and region. From the product perspective, the market has further been classified into endoscopic retrograde cholangiopancreatography (ERCP) devices & accessories, gastrointestinal devices & accessories, and others.

The endoscopic retrograde cholangiopancreatography (ERCP) devices & accessories sub-segment is anticipated to generate substantial revenue by 2028, expanding at a growth rate of about 8.4% through the analysis timeline. ERCP devices & accessories offer several advantages, including compatibility with ERCP techniques and enhancement of the success rate of ERCP procedures, among others, which is likely to fuel product adoption in the coming time period.

With respect to end-use, the endotherapy devices market has been bifurcated into ambulatory surgical centers, hospitals, and others. The ambulatory surgical centers sub-segment is set to progress at a notable CAGR over the review timeline to reach a valuation of more than USD 2,092 million by the end of 2028. This growth is attributed to the rising patient preference for ambulatory surgical centers as these centers offer quality care and high affordability.

From the regional point of view, the Middle East & Africa endotherapy devices market was valued at over USD 80 million in 2021 and is expected to gain considerable traction through the forecast period. Increasing incidences of gastrointestinal disorders, along with widespread product adoption across various countries in MEA, are estimated to drive regional market development through the study timeframe.