Report : Asia Pacific Colorectal Procedure Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Endoscopes, Electrosurgery Devices, Handheld Devices & Visual Systems, Sealing & Stapling Devices, Ligation Clips and Dilators & Speculas, Cutters and Shears, Accessories, and Others), Surgery Type (Right Hemicolectomy, Left Hemicolectomy, Subtotal Colectomy, Low Anterior Resection, Abdomino-Perineal Resection, and Others), End User (Hospitals & Clinics, Surgery Centers, and Others), and Indication (Colon Polyps, Crohn's Disease, Colorectal Cancer, Colitis, Irritable Bowel Syndrome, and Other Indications)
At 14.9% CAGR, the Asia Pacific Colorectal Procedure market is speculated to be worth US$ 3,850.49 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific colorectal procedure market was valued at US$ 1,670.03 million in 2022 and is expected to reach US$ 3,850.49 million by 2028, registering an annual growth rate of 14.9% from 2022 to 2028. Increasing prevalence of colorectal cancer and new product launches are the critical factors attributed to the market expansion.
The colorectal procedural market players focus on launching new products to expand their geographic reach and enhance capacities to cater to a greater than existing customer base. In August 2021, Ethicon announced the ECHELON CIRCULAR Powered Stapler results. The product helped in 74% reduction in the anastomotic leak and a 44% reduction in 30-day inpatient hospital readmission rates after colorectal surgery compared to the manual circular staplers. Similarly, Medicare, the popular government insurance program, provides cover for PAP tests, pelvic exams, and clinical colon examinations for colorectal cancer screening every two years. Such programs and developments and launch of new products are likely to bring new trends in the colorectal procedural test market in the coming years, thereby supporting its growth.
On the contrary, complications associated with colorectal procedure hurdles the growth of Asia Pacific colorectal procedure market.
- Based on product, the market is divided into endoscopes, electrosurgery devices, handheld devices and visual systems, sealing and stapling devices, ligation clips and dilators & speculas, cutters and shears, accessories, and others. Endoscpoe segment held 35.5% market share in 2022, amassing US$ 1,799.77 million. It is projected to garner US 1,352.19 million by 2028 to expand at 13.0% CAGR during 2022–2028.
In terms of surgery type, the Asia Pacific colorectal procedure market is segmented into right hemicolectomy, left hemicolectomy, subtotal colectomy, low anterior resection, abdomino-perineal resection, and others (endoscopic surgery). Subtotal colectomy held 62.1% market share in 2022, amassing US$ 1,037.66 million. It is projected to garner US$ 2,404.96 million by 2028 to expand at 15.0% CAGR during 2022–2028.
The Asia Pacific colorectal procedure market, based on end user, is segmented into hospitals and clinics, surgery centers, and others. Hospitals and clinics held 57.2% market share in 2022, amassing US$ 956.07 million. It is projected to garner US$ 2,191.53 million by 2028 to expand at 14.8% CAGR during 2022–2028.
- Based on indication, the market is segmented into colon polyps, Crohn's disease, colorectal cancer, colitis, irritable bowel syndrome, and other indications. With 34.9% share of the domain, the Irritable bowel syndrome segment dominated the market in 2022. It accrued US$ 583.15 million in 2022 and is estimated to generate US$ 1,392.23 million by 2028 to grow at a CAGR of 15.6% over the forecast period.
Our regional analysis states that the China captured 29.0% market share in 2022. It was assessed at US$ 484.98 million in 2022 and is likely to hit US$ 1,090.46 million by 2028, exhibiting a CAGR of 14.5% during the forecast period.
Key players dominating the Asia Pacific colorectal procedure market are B. Braun Melsungen AG; Boston Scientific Corporation; Cardinal Health Inc.; Colospan Ltd; CooperSurgical, Inc.; Ethicon (Johnson & Johnson Services, Inc.); Medtronic; Olympus Corporation; and SAFEHEAL among others.
Below are listed few key developments by market players:
- In year 2022, Ethicon announced the results of a new real-world study that shows its Echelon Circular Powered Stapler was associated with a 74% reduction in anastomotic leak rates and a 44% reduction in 30-day inpatient hospital readmission rates after colorectal surgery with a manual circular stapler.
- In year 2022, Medtronic announced final findings from a randomized, international, multi-center center that confirmed the effectiveness of the GI Genius intelligent endoscopy module, which uses AI as an aid in detecting colorectal polyps during colonoscopy, potentially helping to prevent colorectal cancer.
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