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In May 2018, Olympus added the product offering of Hanarostent an endoscopic stricture management device, to its line of EndoTherapy portfolio through an exclusive distribution agreement. Endoscopy is a type of minimally invasive procedure which is used to examine and diaganose various medical conditions. Strictures refer to the scarring of the tissues in the gastrointestinal tract, resulting in narrowing of the alimentary canal.
Strictures can act as an obstruction in the passage of the food being swallowed, by preventing the food to make way to the stomach. Strictures can form anywhere in the gastrointestinal tract due to various factors such as gastroesophageal reflux disease, treatment of enlarged veins in the oesophageal area, radiation treatment of cancer, and others. These strictures can be treated by using endoscopic stricture management devices. Endoscopic dilation is one of the methods used to restore patency to the esophagus, colon or pylorus when it has obstructions due to strictures.
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One of the key drivers of the growth of the global endoscopic stricture management device market is the increasing accessibility to various diagnostic techniques and services. Additionally, increasing prevalence of strictures is anticipated to boost the growth of the market by 2026. Technological advancements have made it possible for the development of more non-invasive devices and devices catering to patient comfort and safety.
The factor that is expected to inhibit the growth of the market is the lack of of the skilled medical professionals for the operation and management of endoscopic stricture management devices in emerging nations.
Some of the major companies that are present in the global endoscopic stricture management device market are Boston Scientific Corporation, Cook, Olympus, HOBBS MEDICAL INC., Merit Medical Endotek, CONMED Corporation, Medi-Globe GmbH, Teleflex Incorporated, Richard Wolf GmbH, Ovesco Endoscopy AG and other players.
By Product Type
- Metal Stents
- Plastic Stents
- Biodegradable Stents
· Bougie Dilator
· Balloon Dilator
- Balloon Dilator Catheters
- Balloon Inflation Devices
By End Users
· Ambulatory Surgery Centres
· Specialty Clinics
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Among the segmentation, stent segment is projected to account for the largest proportion of the market and is estimated to hold a major portion of the global endoscopic stricture management device market owing to the increasing demand and adoption of stents in gastroenterology.
The global endoscopic stricture management device market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America followed by Europe are the two largest markets for endoscopic stricture management device at present and they are expected to account for a larger proportion of the market during the forecast period. North America has the largest market share due to the high prevalence of ulcer conditions coupled with increasing demand for technologically advanced devices. In the Asia Pacific region, Japan is expected to provide the largest market opportunity. This is due to the high prevalence of the oesophageal diseases in the country and the developed healthcare infrastructure for the treatment and management of the diseases.
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