Endoscopic Stricture Management Market Size, Share, Industry Trends and Forecast to 2030

Market Size & CAGR of Endoscopic Stricture Management market in 2021

The global endoscopic stricture management market is anticipated to reach a value of USD 1.2 billion by the end of 2021, with a Compound Annual Growth Rate (CAGR) of 4.5%.

COVID-19 Impact on the Endoscopic Stricture Management Market

The COVID-19 pandemic has had a significant impact on the endoscopic stricture management market. Due to the lockdowns and restrictions implemented to curb the spread of the virus, many non-emergency procedures were postponed or canceled, leading to a decline in market growth in 2020. However, as healthcare services gradually resumed, the market has shown signs of recovery in 2021.

Endoscopic Stricture Management Dynamics

The endoscopic stricture management market is driven by the increasing prevalence of gastrointestinal disorders, technological advancements in endoscopic procedures, and the rising geriatric population globally. Additionally, the growing adoption of minimally invasive techniques for stricture management is fueling market growth.

Segments and Related Analysis

The endoscopic stricture management market can be segmented based on the type of procedure, including balloon dilation, stent placement, and others. Balloon dilation is expected to hold the largest market share due to its effectiveness and minimally invasive nature. Stent placement is also gaining traction, especially in cases of severe strictures.

By Region Analysis

Regionally, North America leads the endoscopic stricture management market, followed by Europe and Asia Pacific. The presence of well-established healthcare infrastructure, high adoption of advanced medical technologies, and increasing investment in research and development activities contribute to the growth of these regions.

Key Market Players and Competitive Landscape

Key players in the endoscopic stricture management market include Boston Scientific Corporation, Olympus Corporation, Cook Medical, CONMED Corporation, and others. These companies are actively engaged in product development, strategic collaborations, and mergers and acquisitions to strengthen their market presence.

Recent Happenings in the Endoscopic Stricture Management Market

In recent developments, Boston Scientific Corporation launched a new endoscopic dilator for esophageal strictures, aiming to provide enhanced treatment options for patients. Similarly, Olympus Corporation introduced a novel stent delivery system for precise placement in strictures, improving patient outcomes.