Advancements in diagnostic techniques will be the key factor that will drive the global endoscopic stricture management devices market, as per a report by Fortune Business Insights, titled “Endoscopic Stricture Management Devices market”, Share and Global Trend By Product Type (Stent, Bougie Dilator, Balloon Dilator), By Application (Esophageal, Biliary, Colonic, Pyloric, Others), By End Users (Hospitals, Ambulatory Surgery Centres, Specialty Clinics, Others) and Geography Forecast till 2026”. The report also highlights the upcoming market trends and the factors that will be pivotal in shaping the market during the forecast period.
Endoscopy is a minimally invasive medical method which is commonly used by doctors to investigate and operate on internal organs in one’s body. The procedure does not necessitate making large incisions and can be done through a small cut in the body or even an opening such as the mouth. A stricture refers to an abnormal narrowing of a tube or canal in the body. It could be a result of a tumor or a scar. For example, esophageal cancer is known to cause malignant strictures. Endoscopic dilation is a measure generally applied to remove obstructions caused by strictures in the colon or esophagus.
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Rising Prevalence of Strictures to Bolster Market Growth
A study published in the Journal of Urology found that rising obesity rates in the US is causing a unique urologic condition called buried penis. This affliction is increasing the incidence rate of urethral stricture among Americans. These facts promise great opportunities for the global endoscopic stricture management devices market growth as chronic diseases like obesity and diabetes are becoming increasingly prevalent. As the demand for stricture management devices goes up, the global endoscopic stricture management devices market size is set for steady expansion.
Market Competition to Intensify with Increasing Innovations
Major participants in the global endoscopic stricture management devices market are focusing their energies on producing innovative products for the market. For example, Boston Scientific Corporation developed the AXIOS Stent and Electrocautery Enhanced Delivery System that enables minimally invasive endoscopic drainage of pancreatic pseudo-cysts. Moreover, regulatory clearances to new products will boost investment in research by companies. For example, in 2017, the FDA green signalled PENTAX Medical’s C2 CryoBalloon Ablation System that effectively treats Barrett’s Esophagus.
Fortune Business Insights identifies some of the key players in the global endoscopic stricture management devices market. These include Merit Medical Endotek, Boston Scientific Corporation, Richard Wolf GmbH, HOBBS MEDICAL INC., Teleflex Incorporated, Ovesco Endoscopy AG, CONMED Corporation, and others.
An Overview of the Impact of COVID-19 on this Market:
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