The Endoscopic Submucosal Dissection Market to go innovatively upwards
The global Endoscopic Submucosal Dissection Market is estimated to grow irresistibly in the forecast period. With the increasing involvement of consumers in decision-making, digital innovation is witnessing a greater demand. Also, the use of data analytics and interoperable data is asking for public-private collaborations concerning organic and inorganic development. This would, in turn, pave the way for more cordial relationships between the end-users and the manufacturers/key players.
The Endoscopic Submucosal Dissection Market will witness a CAGR of 7.5%, reaching US$ 200 Million between 2019 to 2029. With medical IoT implying the use of wearable monitors, devices, and various integrated applications regarding healthcare needs, the healthcare vertical is bound to scale new-fangled heights in the upcoming period. This is what the healthcare vertical would all be in the next 10 years.
Endoscopic Submucosal Dissection (ESD) has witnessed slow adoption in Western countries in the past. This is due to the continued referral of patients for surgery or Endoscopic Mucosal Resection (EMR) procedures.
Furthermore, ESD demands highly skilled and trained professionals. Although the procedure is difficult to learn and the training is expensive, a small group of endoscopists in Western countries are becoming more interested. These endoscopists are working toward training in a Japanese centre to learn from experts. This change is expected to increase the adoption rate of endoscopic submucosal dissection over the coming years.
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- Olympus Corporation
- Boston Scientific Corporation
- ERBE Elektromedizin GmbH
- FUJIFILM Medical Systems U.S.A., Inc
- Sumitomo Bakelite Co., Ltd
- Ovesco Endoscopy AG
- ZEON CORPORATION
The global endoscopic submucosal dissection market was valued at US$ 200 Mn in 2018, and is expected to exhibit a healthy CAGR of 7.5% over the estimation period (2019–2029).
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Key Takeaways of Endoscopic Submucosal Dissection Market Study
ESD is predominantly used for early stomach cancer. This is because the procedure is easy and well-studied for stomach cancer as compared to other gastric cancers. Colorectal cancers are the most complex for ESD procedures, primarily due to the large size of lesions and anatomy of the colon.
Specialty clinics are expected to gain traction with the rising adoption of ESD in the Western hemisphere.
Endoscopic submucosal dissection knives hold nearly 1/3 market share in the endoscopic submucosal dissection market, followed by tissue retractors. The knives segment is expected to continue holding a relatively similar share through 2029.
East Asia, followed by Europe, are the most prominent regions in terms of revenue, due to higher prevalence and adoption of the endoscopic submucosal dissection procedure for gastric cancers.
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“Although East Asia will continue to lead the global endoscopic submucosal dissection market, Western countries such as the U.S., Germany, and Brazil, along with the Oceania region, are expected to offer lucrative growth opportunities for players in the endoscopic submucosal dissection market. This is primarily due to rising adoption and increasing skilled professionals in these regions,” says a PMR analyst.
Acquisitions and Partnerships are Key Strategies of Market Players
Manufacturers in the endoscopic submucosal dissection market are focusing on improving their product portfolios though the launch of new products. Key players are working toward getting new products approved by regulatory bodies and launching them at the earliest.
Some manufacturers are also focused toward the development of other strategies, such as setting up training centers to drive product sales and gain market share, globally. Many endoscopists from Western countries opt for such training programs in East Asia to offer ESD procedures in their countries, such as in the U.S., Canada, and Brazil.
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More Valuable Insights on Endoscopic Submucosal Dissection Market
Persistence Market Research offers a unique perspective and actionable insights on the endoscopic submucosal dissection market in its latest study, presenting historical demand assessment of 2014–2018 and projections for 2019–2029, on basis of product (knives, tissue retractors, grasps/clips, injection agents, and gastroscopes & colonoscopes), indication (esophageal cancer, stomach cancer, and colon cancer), and end user (hospitals, ambulatory surgical centers, and speciality clinics), across seven major regions.
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