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HEALTHCARE & PHARMACEUTICAL

Sphincterotomes Market Segmentation by Product (Pull-Type, Push-Type, Needle-Type, Shark’s Fin-Type Sphincterotomes, and Others); by Application (Standard Biliary, Pancreatic, Lateral Internal, Pre-Cut Sphincterotomy, and Other); and by End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centres, and Others) – Global Demand Analysis and Opportunity Outlook 2030

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Extensive insights into the Growth of Sphincterotomes Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • April 4, 2019: Cook Biotech announced the new sales collaboration with Progressive Medical, for the U.S. markets. The collaboration intends to promote Biodesign Hernia Graft.
  • March 03, 2021: Boston Scientific announced the acquisition of the global surgical business of Lumenis LTD, in an agreement with Baring Private Equity Asia (BPEA).

Global Sphincterotomes Market Highlights over 2022-2030

The sphincterotomes market is estimated to grow with a high CAGR during the forecast period, i.e., 2022-2030. Extensive research associated with rising elderly population globally, along with the growing investment in the development of surgical instruments are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the increasing investments in the research and development for the innovation of better treatment procedures in the developing economies. Moreover, the reducing social stigma and the rising incidence of anal fissure amongst individuals on a global level is another major factor to boost the growth of sphincterotomes market. According to The American Society of Colon and Rectal Surgeons, anal fissures can occur at any age and have equal gender distribution.  In most of the cases, approximately 85-90% fissures occur in the posterior midline (back) of the anus with about 10-15% occurring rate in the anterior midline (front).  Few patients may actually have fissures in both the front and the back locations. Growing incidence of anal fissure is expected to boost the demand for integrative medicine in the market. The growing concern and awareness about surgical treatment and equipment of anal fissures along with propelling number of advanced and innovative Sphincterotomes in the global market are some of the major factors anticipated to drive the market’s growth in the next few years.  Government initiatives play an important role in driving the demand for better treatment and surgical practices by consolidating targeted expenditure, releasing guidelines, setting up government facilities, and others to ensure suitable usage of sphincterotome.

Global-Sphincterotomes-Market-Overview

The market is segmented based on product into pull-type push-type needle-type, shark’s fin-type sphincterotomes, and others, out of which, the pull-type sphincterotomes segment is anticipated to grab the largest share by the end of 2021 on account of higher positive results. Moreover, increasing focus and initiatives of regulatory bodies towards medical tourism globally is also projected to contribute to the growth of the segment during the forecast period. Based on application, the standard biliary sphincterotomy segment held the largest share in the global sphincterotome market on the back of growing adoption of biliary sphincterotomy in the market. Moreover, increasing knowledge and awareness towards the advantages of using sphincterotomy is further driving the market’s growth. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Global-Healthcare-Expenditure-per-Capita

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Sphincterotome Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific region is predicted to grow at the highest CAGR over the forecast period owing to the increasing prevalence of chronic disorders such as diabetes, cancer, cardiovascular disorders, neurological disorders, and others. Additionally, the rising competition among the major market players in the region, is further driving the market’s growth. Furthermore, by the end of 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the growing investment of governmental and non-governmental agencies for sphincterotome, accompanied by the presence of leading sphincterotome manufacturers in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the global sphincterotome market on account of its proven success in terms of therapy development and a high prevalence of chronic disorders in the region.

Global-Sphincterotome-Market-Share

The global sphincterotome market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

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

By Products

  • Pull-Type Sphincterotomes
  • Push-Type Sphincterotomes
  • Needle-Type Sphincterotomes
  • Shark’s Fin-Type Sphincterotomes
  • Others

By Application

  • Standard Biliary Sphincterotomy
  • Pancreatic Sphincterotomy
  • Lateral Internal Sphincterotomy
  • Pre-Cut Sphincterotomy
  • Other

By end-user

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers
  • Others

Growth Drivers

  • Rising Development in Treatment Across Developing Countries
  • Increasing Incidence of Anal Fissure

Challenges

  • Limited Number of Patients Opting for Anal Fissure Surgery
  • Lack of Uniformity in the Reimbursement

Top Featured Companies Dominating the Market

  •  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
  • Cook Group Incorporated
  • ENDO-FLEX GmbH
  • Olympus Corporation 
  • Shaili Endoscopy
  • Bio Serve NZ Ltd.
  • Advin Health Care

 

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