ENDOSCOPIC STRICTURE MANAGEMENT DEVICE MARKET ANALYSIS

Market Challenges And Opportunities

Global Endoscopic Stricture Management Device Market Drivers

The global endoscopic stricture management device market is expected to witness significant growth over the forecast period due to launches of technologically advanced endoscopes by the companies. These endoscopes are capable of early diagnosis of diseases through endoscopy procedures. For instance, in May 2019, Olympus Corporation launched Power Spiral in Europe, further it will be launched in the U.S. as well as other parts of the Asian Pacific region. Power Spiral is the world’s first motorized rotation endoscope that was launched in Europe. The endoscope has increased range of the motion and is capable of reducing the procedure times. It is helpful in diagnosis as well as improve or correct the conditions within digestive tract.

Moreover, increasing U.S Food & Drug Administration (FDA) approval of the endoscopic stricture management device is the factor that is expected to drive global endoscopic stricture management device market growth. For instance, on 15^th January 2020, Pentax Medical announced to receive the U.S. FDA 510(k) clearance for its Imagina endoscopy system and launch in the U.S. Imagina endoscopy system is helpful in performing the gastrointestinal (GI) procedures and consist of Pentax i-Scan, digital image enhancement system that offers enhance view or more clear view of the blood vessel as well as mucosal surface. In addition, Imagina endoscopy system is equipped with touch-screen LCD interface that eliminate the need for periodic bulb replacements. Moreover, it is cost effective as compared to the other GI endoscopy system such as video endoscopy. Therefore, launch of Imagina endoscopy system by Pentax medical is expected to increase demand of endoscopic stricture management device in the market.

Moreover, in 2017, U.S FDA gave approval for marketing as well as commercialization of the C2 Cryo Balloon System Ablation System. It is an important product offering in the global endoscopic stricture management device market.

Global Endoscopic Stricture Management Device Market Restraints

However, complications associated with the endoscopic procedure such as infection, bleeding, reaction to sedation, and perforation are the major restraints that are expected to hamper growth of the global endoscopic stricture management device market.

Moreover, lack of healthcare professionals for operating surgical procedure is the factor that is expected to hamper global endoscopic stricture management device market growth. For instance, in April 2019, according to the Association of American Medical Colleges (AAMC), the U.S. is expected to witness shortage of around 122,000 physicians by 2032, as demand for doctors is more as compared to the supply of doctors.