Sphincterotomes Market Size & Share, by Product (pull-type, push-type, needle type, shark’s fin type); End-User (Hospitals, Speciality clinics, Ambulatory Surgical Centers); Type (Single Use, Reusable) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3140
  • Published Date: Jan 05, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Sphincterotomes Market size is expected to reach USD 4.5 Billion by the end of 2036, growing at a CAGR of 4% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of sphincterotomes was over USD 2.84 Billion. The market for sphincterotomes, a procedure used to treat conditions such as gallstones and bile duct disorders, is expected to grow due to the increasing incidence of these conditions. Gallbladder disease is a common condition in the United States, with an estimated 20.5 million cases and 14.2 million of them occurring in women. The most common reason for cholecystectomies, a surgical procedure to remove the gallbladder, is symptomatic gallstone disease. More than 600,000 cholecystectomies are performed each year in the United States due to the prevalence of this condition.

Further, the shift towards minimally invasive procedures fuels the demand for tools like sphincterotomes, as they are integral in endoscopic retrograde cholangiopancreatography (ERCP) procedures, which are increasingly preferred due to reduced invasiveness and quicker recovery times.


Sphincterotomes Market
Get more information on this report: Request Free Sample PDF

Sphincterotomes Sector: Growth Drivers and Challenges

Growth Drivers

  • Increase in geriatric population - As the global population ages, there’s a higher prevalence of diseases requiring biliary interventions, augmenting the need for sphincterotomies and associated devices. As per our analysis, the number of individuals in the world who are 60 years of age or older is expected to double (to 2.1 billion) by 2050. It is anticipated that between 2020 and 2050, the number of people 80 years of age or older will triple, reaching 426 million.
  • Technological Advancements- Innovations in endoscopic procedures and device technology, such as improvements in endoscope design or the development of advanced sphincterotomes. For instance, some sphincterotome's design permits the use of numerous guidewires throughout surgery and can support guidewire sizes ranging from 018 to 035".
  • Increasing Awareness and Healthcare Expenditure- Heightened awareness of the advantages linked to early medical intervention, coupled with augmented healthcare investments worldwide, facilitates broader accessibility to sophisticated procedures such as sphincterotomes. This increased accessibility fuels the adoption of advanced medical techniques, contributing significantly to market expansion. As individuals become more informed about the benefits of timely medical interventions and as healthcare spending continues to rise globally, the demand for and utilization of sphincterotomes as a crucial medical solution is projected to increase significantly.

Challenges

  • Procedural Risks and Complications- Sphincterotomy procedures carry inherent risks like bleeding or perforation, necessitating skilled professionals and stringent safety protocols. Perceived risks can also impact patient acceptance and procedure adoption rates.
  • High costs associated with advanced medical devices and procedures pose barriers to adoption, especially in regions with limited budgets.
  • Limited Access in Developing Regions.

Sphincterotomes Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 4%

Base Year Market Size (2023)

~ USD 2.84 Billion

Forecast Year Market Size (2036)

~ USD 4.5 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Sphincterotomes Segmentation

Product (pull-type, push-type, needle type, shark’s fin type)

The pull-type sphincterotomes market are anticipated to grab the largest share by 2036 amounting to 46% on account of higher positive results owing to the increasing focus and initiatives of regulatory bodies across the globe. These regulatory bodies are working towards ensuring that medical tourism is conducted safely and ethically, thereby boosting the trust and confidence of medical tourists. This, in turn, is expected to attract more medical tourists, leading to the growth of the segment. Additionally, the rise in healthcare costs in developed countries and the availability of affordable medical treatments in emerging economies are also expected to contribute to the growth of the medical tourism segment in the coming years. Further, Pull-type sphincterotomes can be used to accomplish endoscopic sphincterotomy, which is technically possible in 50–86% of patients.

End- User (Hospitals, Speciality clinics, Ambulatory Surgical Centers)

The hospital segment in the sphincterotomes market is anticipated to be the largest revenue-generating segment due to the vast number of sphincterotome-related treatments that are carried out annually throughout the world, including anorectal surgeries such as Crohn's disease repair procedures and surgeries to correct hypopadias. Over the course of the projection period, this market segment is expected to be the top revenue generator in the industry due to the anticipated increase in demand for sphincterotome devices brought about by increased knowledge of the benefits of their use in operations.

Our in-depth analysis of the global market includes the following segments:

           Product

  • pull-type
  •  push-type
  • needle type
  • shark’s fin type

          End- User

  • Hospitals
  •  Speciality clinics
  •  Ambulatory Surgical Center

          Type

  • Single Use
  • Reusable

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Sphincterotomes - Regional Synopsis

North American Market Forecast

North America sphincterotomes market is expected to hold 43% of the revenue share during the forecast period. In North America, the market is primarily driven by factors such as a higher incidence of biliary diseases due to lifestyle factors, an aging population contributing to increased cases of biliary disorders, and robust healthcare infrastructure encouraging the adoption of advanced medical procedures. Additionally, technological advancements and a strong focus on R&D foster innovation in sphincterotome devices. The region’s healthcare expenditure and favorable reimbursement policies further support market growth.

APAC Market Statistics

Asia Pacific sphincterotomes market is estimated to grow at the highest CAGR during the forecast period. Chronic illnesses like diabetes, cancer, heart disease, neurological problems, and others are becoming more common. According to statistical; data analysed by research analysts, 55% of deaths in the Asia Pacific region occur due to chronic diseases. The main market participants in the area are expected to become more competitive, which will further propel the industry's expansion. Rapid economic development in countries like China and India leads to increased healthcare expenditure, thereby boosting the market for sphincterotomes.

Research Nester
Sphincterotomes Market Size
Get more information on this report: Request Free Sample PDF

Companies Dominating the Sphincterotomes Landscape

top-features-companies
    • TeleMed Systems, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Boston Scientific Corporation
    • Medi-Globe GmbH
    • CONMED Corporation.
    • ENDO-FLEX GmbH.
    • Olympus America
    • Shaili Endoscopy
    • Bio Serve NZ Ltd
    • Advin Health Care
    • Micro-Tech (Nanjing) Co., Ltd

In the News

  • Due to the vast number of sphincterotome-related treatments that are carried out annually throughout the world, including anorectal surgeries such as Crohn's disease repair procedures and surgeries to correct hypopadias. Over the course of the projection period, this market segment is expected to be the top revenue generator in the industry due to the anticipated increase in demand for sphincterotome devices brought about by increased knowledge of the benefits of their use in operations.
  • In tandem with other core businesses, Olympus is a global leader in technology design and delivery. The company announced the launch of its StoneMasterV and VorticCatchV EndoTherapy devices, which increase the efficiency of bile duct stone management and retrieval for endoscopic retrograde cholangiopancreatography (ERCP).

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 3140
  • Published Date: Jan 05, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

AShift towards minimally invasive procedures, increase in ageing population, increase in medical expenditure and rising awareness regarding diseases are some of the major growth factors for sphincterotomes market.

The market size of sphincterotomes is anticipated to attain a CAGR of 4% over the forecast period, i.e., 2024 – 2036.

The major players in the market are Boston Scientific Corporation, Medi-Globe GmbH, CONMED Corporation., ENDO-FLEX GmbH., Olympus America, Shaili Endoscopy, Bio Serve NZ Ltd, Advin Health Care, Micro-Tech (Nanjing) Co., Ltd, HOYA Corporation and others.

The pull type segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Sphincterotomes Market Report Scope
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying