Colorectal Procedure Market is expected to reach US$ 27,627.76 million by 2028


PRESS RELEASE BY The Insight Partners 07 Jun 2023

Share this press on


Endoscope to Lead Colorectal Procedure Market During 2022–2028

According to our latest study, titled “Colorectal Procedure Market Forecast to 2028 – COVID-19 Impact and Global Analysis – By Product, Surgery Type, End User, Indication, and Geography," the market is expected to reach US$ 27,627.76 million by 2028 from US$ 13,690.71 million in 2022. It is estimated to grow at a CAGR of 12.6% during 2023–2028.

The report highlights the key factors driving the colorectal procedure market growth and prominent players with their developments in the global colorectal procedure market. Key factors driving the market's growth are the increasing prevalence of colorectal cancer and new product launches. However, the complications associated with colorectal procedures are expected to restrict the market growth during the forecast period.

The major driving factor for the growth of the endoscope segment is the growing incidences of piles, hemorrhoids, anal fistula, colon, and rectal cancer, injuries to the anus, crohn’s disease, and severe constipation conditions. Colorectal cancer (CRC) remains the second leading cause of death in the region. Therefore, according to published guidelines, individuals are routinely screened using endoscopic methods (i.e., flexible sigmoidoscopy and colonoscopy) or stool-based testing. In the United States, the US Preventive Services Task Force (USPSTF) requires screening for colorectal cancer in all adults ages 50 to 75 and adults ages 45 to 49. In addition, the USPSTF recommends that physicians selectively offer screening for colorectal cancer in adults ages 76 to 85. Procedures, including screening colonoscopies, are delayed until the pandemic stabilizes. This was also done to reduce the potential risk of exposure to SARS-CoV-2 as the virus is present in feces from COVID-19 patients. In response, there was a 90% drop in CRC screenings, resulting in a 32% drop in new CRC diagnoses and a 53% drop in CRC-related surgical procedures by mid-April 2020.

Global Colorectal Procedure Market, by Geography, 2022 (%)

Global Colorectal Procedure Market, by Geography, 2022 (%)


Colorectal Procedure Market Growth Drivers and Opportunities by 2031

Download Free Sample

Colorectal Procedure Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product (Endoscope, Electrosurgery, Handheld Device & Visual Systems, Sealing & Stapling Devices, Ligation Clips & Dilators & Speculas, Cutter & Shears, Accessories, and Others), Surgery Type [Right Hemicolectomy, Left Hemicolectomy, Subtotal Hemicolectomy, Low Anterior Resection, Abdomino-Perineal Resection, and Others (Including Endoscopic Surgery)], Indication (Colon Polyps, Crohn's Disease, Colorectal Cancer, Colitis, Irritable Bowel Syndrome, and Others), End User (Hospital & Clinics, Surgery Centers, and Others), and Geography

Source: The Insight Partners Analysis

In addition, through April 2021, the rate of routine screening colonoscopies remained 50% lower than before the COVID-19 pandemic. The COVID-19 pandemic presented surgeons with patients with significant complications and more advanced stages of the disease due to delayed presentations to healthcare facilities. More advanced social understanding is needed to address patients' fears and ensure that patients seek prompt healthcare facilities in the event of a new wave of COVID-19 with variant strains. However, hospitals gradually resumed elective and surgical procedures as the COVID-19 recovery rate decreased. Thus, the demand for the colorectal procedure is expected to increase. Organized colorectal cancer diagnosis programs and some opportunistic screening through individuals' health care providers have been resumed, thus, the required surgical procedures.

Based on product, the colorectal procedure market is segmented into endoscope, electrosurgery, handheld devices & visual systems, sealing & stapling devices, ligation clips and dilators and speculas, cutter & shears, accessories, and others. The endoscope segment accounts for the largest market share in 2022 and is expected to grow at a CAGR of 12.7% during the forecast period.

Based on surgery type, the market is segmented into right hemicolectomy, left hemicolectomy, subtotal colectomy, low anterior resection, abdomino-perineal resection, and others (including endoscopic surgery etc). The subtotal colectomy segment leads the market in terms of share in 2022 and is expected to retain its dominance during the forecast period.

Based on end user, the colorectal procedure market is segmented into hospitals & clinics, surgery centers, and others. The hospital & clinics segment leads the market in 2022 and is expected to retain its dominance during the forecast period.

Based on indication, the market is segmented into colon polyps, crohn's disease, colorectal cancer, colitis, irritable bowel syndrome, and other indications. The irritable bowel syndrome segment leads the market in 2022 and is expected to retain its dominance during the forecast period.

Ethicon (Johnson & Johnson Services, Inc.); Medtronic; Colospan Ltd; SAFEHEAL; B. Braun Melsungen AG; Cardinal Health Inc; Boston Scientific Corporation; CooperSurgical, Inc.; Olympus Corporation; Suturion AB are among the key companies operating in the global colorectal procedure market.

In November 2021 Medtronic announced that the US Food and Drug Administration (FDA) granted 510(k) clearance for its PillCam Small Bowel 3 System for remote endoscopy procedures. The PillCam SB3 @HOME program combines Medtronic's PillCam technology with Amazon logistics, a combination intended to ensure timely and accurate patient results from the comfort of their homes. PillCam SB3 @HOME provides a telehealth option for direct visualization and monitoring of the small bowel to help better detect lesions not detected by upper and lower endoscopy that may indicate Crohn's disease, locate obscure bleeding, or identify sources of iron deficiency anemia (IDA).

The report segments the global colorectal procedure market as follows:

Based on product, the colorectal procedure market is segmented into endoscope, electrosurgery, handheld devices & visual systems, sealing & stapling devices, ligation clips & dilators & speculas, cutter & shears, accessories, and others. Based on surgery type, the market is segmented into right hemicolectomy, left hemicolectomy, subtotal colectomy, low anterior resection, abdomino-perineal resection, and others (including endoscopic surgery etc). Based on end user, the colorectal procedure market is segmented into hospitals & clinics, surgery centers, and others.  Based on indication, the market is segmented into colon polyps, crohn's disease, colorectal cancer, colitis, irritable bowel syndrome, and other indications. Based on geography, the global colorectal procedure market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Contact Us
 
Phone: +1-646-491-9876
Download Free PDF Brochure