At 14.9% CAGR, the Asia Pacific Colorectal Procedure Market is Projected 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 a CAGR of 14.9% from 2022 to 2028. Increasing prevalence of colorectal cancer and new product launches are the factors attributed to the Asia Pacific colorectal procedure market expansion.        

The growing medical device industry in the developing countries in Asia Pacific is creating better opportunities for significant market players to expand their business. This is a substantial reason for the growth of the medical device industry. According to India Brand Equity Foundation (IBEF) statistics in 2020, India is the largest importer of the medical device worldwide. The Indian medical device industry imports ~75-80% of medical devices, with export at ~US$ 2.1 billion in 2019 and are expected to rise at a CAGR of 29.7% to reach ~US$ 10 billion in 2025. Moreover, India has a huge pool of scientists and engineers having the potential to grow the healthcare industry remarkably. Major market players focus on emerging markets such as Singapore and China as they have many Colorectal cancer patients and growing medical tourism. As per the Australian Institute of Health and Welfare, over ~15,540 new cases of Colorectal cancer were diagnosed in 2021. Moreover, as per the Malaysia Healthcare Travel Council, in 2019, over 1.22 million healthcare travelers visited Malaysia for healthcare purposes. The low cost of treatment and incorporation of advanced technologies to provide less waiting time for procedures in the Asia Pacific region are likely to boost the number of surgeries, which ultimately increases the demand for Colorectal procedures. Thus, the increasing medical tourism and the growing medical device industry in emerging countries are expected to boost the Asia Pacific Colorectal procedural market growth; it is anticipated to provide significant growth opportunities to the players operating in the market during the forecast period.

On the contrary, complications associated with colorectal procedure hampers the Asia Pacific colorectal procedure market.  

Based on product, the Asia Pacific colorectal procedure market is segmented into endoscope, electrosurgery, handheld devices and visual systems, sealing and stapling devices, ligation clips and dilators and specula’s, cutter and shears, accessories, and others. The endoscope segment held 35.2% share of Asia Pacific colorectal procedure market in 2022, amassing US$ 588.67 million. It is projected to garner US$ 1,352.19 million by 2028 to expand at 14.9% CAGR during 2022–2028. 

Based on surgery type, the Asia Pacific colorectal procedure market is segmented into hemicolectomy, left hemicolectomy, subtotal colectomy, low anterior resection, abdomino-perineal resection, and others (including endoscopic surgery). The subtotal colectomy segment held 62.1% share of Asia Pacific colorectal procedure market 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.

Based on end user, the Asia Pacific colorectal procedure market is segmented into hospitals & clinics, surgery centers, and others. The hospitals and clinics segment held 57.2% share of Asia Pacific colorectal procedure market 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 Asia Pacific colorectal procedure market is segmented into colon polyps, Crohn's disease, Colorectal cancer, colitis, irritable bowel syndrome, and other indications. The irritable bowel segment held 34.9% share of Asia Pacific colorectal procedure market in 2022, amassing US$ 583.15 million. It is projected to garner US$ 1,392.23 million by 2028 to expand at 15.6% CAGR during 2022–2028.

Based on country, the Asia Pacific colorectal procedure market has been categorized into the China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that the China captured 29.0% share of Asia Pacific colorectal procedure market 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 2022–2028.      

Key players operating in the Asia Pacific colorectal procedure market are Ethicon (Johnson & Johnson Services, Inc.); Medtronic; B. Braun Melsungen AG; Cardinal Health Inc; Boston Scientific Corporation; CooperSurgical, Inc; and Olympus Corporation, among others.

• In Aug 21, 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 May22, 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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