Endoscopic Submucosal Dissection Market is projected to reach USD 483 million by 2027 from USD 347 million in 2022, at a CAGR of 6.9% according to a new report by MarketsandMarkets™.
Endoscopic submucosal dissection (ESD) is a sophisticated form of endoscopy used to treat cancerous and non-cancerous lesions located in the digestive tract. The procedure involves the removal of the entire layer of tissue below the mucosa, including the cancerous tissue, and is a minimally invasive alternative to traditional surgery.
The increasing prevalence of cancer, rising geriatric population, and advancements in endoscopic technologies are some of the factors driving the growth of the global endoscopic submucosal dissection market. In addition, the increasing focus of governments and other organizations on the prevention and treatment of digestive diseases is driving the demand for ESD procedures.
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However, the high cost of the procedure and the lack of skilled professionals in certain regions are some of the factors restraining the market growth.
The global endoscopic submucosal dissection market is segmented on the basis of application, end user and geography. By application, the market is further classified into esophageal, gastric, colorectal and other applications. By end user, the market is classified into hospitals and ambulatory surgery centers.
Key Market Players:
The prominent players in the endoscopic submucosal dissection market are Olympus Corporation (Japan), Boston Scientific Corporation (US), FUJIFILM Holdings Corporation (Japan), Sumitomo Bakelite Co., Ltd. (Japan), Creo Medical (UK), Medtronic (Ireland), MTW Endoskopie Manufaktur (Germany), HOYA Corporation (Japan), Ovesco Endoscope AG (Germany), Zeon Medical Inc. (Japan), KARL STORZ SE & Co. KG (Germany), ConMed Corporation (US), Micro-tech Endoscopy (China), Cook Group (US), Steris PLC (Ireland), Leo Medical Co., Ltd. (China), Erbe Elektromedizin GmbH (Germany), Taewoong Medical (South Korea), DCC Healthcare (Ireland), Kossen Co., Ltd. (South Korea), Innova Medica SPA (Italy), Jiangsu Vedkang Medical Science and Technology Co., Ltd. (China), Hangzhou AGS MedTech Co., Ltd. (China), and Beijing ZKSK Technology Co., Ltd. (China).
The Asia Pacific market is expected to grow at a higher CAGR during the forecast period
The APAC market is expected to grow at the highest rate during the forecast period. Factors such as the growing number of hospitals, improving healthcare infrastructure, increasing healthcare expenditure, growing patient population, and surging demand for minimally invasive surgeries are boosting the growth of the endoscopic submucosal dissection market in the Asia Pacific.
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Endoscopic Submucosal Dissection Market Dynamics:
Drivers:
· Increasing use of endoscopy in detection and treatment procedures
· Rising prevalence of cancer
· Growing geriatric population
Restraints:
· Dearth of skilled professionals
· High overhead cost of ESD procedures with limited reimbursements
Opportunities:
· Growing demand for minimally invasive procedures
· Growing investments in research and development of endoscopy technology
· Expected increase in adoption of and preference for endoscopic submucosal dissection procedures in developing countries
Challenges:
· Higher rate of complications
· Risk of post-operative infection
Recent Developments:
· In March 2021, FUJIFILM Holdings Corporation (Japan) acquired Diagnostic Imaging-related Business (the Business), Hitachi, Ltd.. This acquisition helped in the expansion of the medical systems business of FUJIFILM Corporation.
· In January 2021, Olympus Corporation (Japan) acquired Quest Innovations B.V. (Netherlands). The acquisition enabled Olympus to strengthen its surgical endoscopy capabilities and incorporate Quest's advanced FIS capabilities into its comprehensive medical imaging portfolio.
· In November 2020, Creo Medical Group PLC (UK) acquired Boucart Medical SRL (Belgium). Creo Medical Group completed the acquisition of Boucart Medical SRL, the largest independent supplier of gastrointestinal endoscopy consumables in Belgium and Luxembourg.
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