Endotherapy Devices Market to be worth $7 Billion by 2030

Endotherapy Devices Market by Type (Needles, Biopsy Forceps, Balloon Dilators, Haemostasias, Snares, Catheters, Sphincterotomes, Guide Wires, Stents, Retrieval Net), Application (Upper GI Endoscopy, Colonoscopy, Cystoscopy) – Global Forecast to 2030

The Endotherapy Devices Market is expected to reach $7 billion by 2030 at a CAGR of 7.4% from 2023 to 2030. Endotherapy devices are inserted in the body during endoscopic procedures. Endotherapy devices such as needles, dilators, hemostasis systems, hemoclips, stents, and extraction systems are used during colonoscopies, gastroscopies, bronchoscopies, and other procedures. Endotherapy equipment is also used to diagnose abnormal growth in the colon and other abdominal organs and digestive tract hemorrhage. Additionally, they are employed therapeutically to eliminate tumors or polyps, halt bleeding, and widen strictures or confined bodily channels.

The growth of this market is driven by the increasing preference for minimally invasive procedures, the rising prevalence of gastrointestinal conditions, and technological advancements in endotherapy devices. However, the high cost of endoscopy procedures is restraining the market. The increasing demand for endoscopic procedures in emerging markets is creating opportunities for key players in the market. Additionally, the lack of skilled professionals is a major challenge for market growth.