Endotherapy Devices Market Size

Endotherapy Devices Market Size

Endotherapy Devices Market size was valued at USD 4.8 billion in 2023 and is anticipated to grow at a CAGR of 7.8% between 2024 and 2032, driven by the rising incidence of gastrointestinal conditions, increasing preference for minimally invasive procedures, and increasing awareness towards early diagnosis and treatment of GI disorders.

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Gastrointestinal diseases, including conditions such as inflammatory bowel disease (IBD), colorectal cancer, gastroesophageal reflux disease (GERD), and peptic ulcers, are becoming increasingly prevalent worldwide. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2023, about 7 million people worldwide were estimated to have IBD. With the rising incidence of GI conditions, there is a corresponding increase in the number of diagnostic and therapeutic procedures performed to manage these diseases.

Additionally, endotherapy devices enable minimally invasive procedures, which are preferred over traditional surgical methods due to their reduced risk, shorter recovery times, and lower healthcare costs. Patients with GI conditions increasingly opt for endoscopic treatments, such as polypectomy, mucosal resection, and stent placement, which are less invasive and offer quicker recovery. This preference for minimally invasive procedures boosts the market for endotherapy devices.

Endotherapy devices are specialized medical instruments and tools used in endoscopic procedures to diagnose, treat, and manage various gastrointestinal and respiratory conditions.