Report : Europe Colorectal Procedure Market Forecast to 2028 - Regional Analysis- 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)
At 12.9% CAGR, the Europe Colorectal Procedure Market is Speculated to be Worth US$ 10,520.15 million by 2028, says Business Market Insights
According to Business Market Insights research, the Europe Colorectal procedure market was valued at US$ 5,067.96 million in 2022 and is expected to reach US$ 10,520.15 million by 2028, registering a CAGR of 12.9% from 2022 to 2028. Increasing prevalence of colorectal cancer and new product launches are the factors attributed to the Europe colorectal procedure market expansion.
The market for colorectal procedures is ascribed to frequent diagnostic tests and medical device launches. Most of the major market players are involved in manufacturing a wide range of devices that help in reducing the burden of colorectal cancer and other associated indications such as colon polyps, Crohn’s disease, colitis, irritable bowel syndrome, and others. For instance, in April 2020, Olympus Corporation announced the launch of EVIS X1, which is the most advanced endoscopy. This system helps to improve the results from disorders of the stomach, colon, esophagus, and bronchial diseases. The system has various features such as extended depth of field (EDOF), red dichromatic imaging (RDI), texture and color enhancement imaging (TXI), and narrow-band imaging (NBI). The launch of EVIS X1 strengthened Olympus leadership in endoscopy and in the medical device industry. In real-time, it will help physicians identify hard-to-detect and potentially cancerous polyps. The launch of the device will give patients throughout southeastern, southwestern, and central Pennsylvania wide-ranging access to the innovative and its enhanced capability. Moreover, in September 2020, Olympus Corporation announced the launch of ENDO-AID, a cutting-edge platform powered by artificial intelligence (AI) and includes the endoscopy application ENDO-AID CADe (computer-aided detection) for the colon. This new AI platform enables the real-time display of automatically detected suspicious lesions and works in combination with the recently introduced EVIS X1. Thus, the constant developments and new product launches in colorectal-associated indications are driving the colorectal procedural market growth.
On the contrary, complications associated with colorectal procedure systems hampers the growth of Europe colorectal procedure market.
Based on product, the Europe colorectal procedure market is segmented into endoscope, electrosurgery, handheld devices and visual systems, sealing and stapling devices, ligation clips and dilators and speculas, cutter and shears, accessories, and others. The endoscope segment held 35.5% share of Europe colorectal procedure market in 2022, amassing US$ 1,799.77 million. It is projected to garner US$ 3,709.57 million by 2028 to expand at 12.8% CAGR during 2022–2028.
Based on surgery type, the Europe colorectal procedure market is segmented into right hemicolectomy, left hemicolectomy, subtotal colectomy, low anterior resection, abdomino-perineal resection, and others (including endoscopic surgery). The subtotal colectomy segment held 61.8% share of Europe colorectal procedure market in 2022, amassing US$ 3,133.02 million. it is projected to garner us$ 6,532.12 million by 2028 to expand at 13.0% CAGR during 2022–2028.
Based on end user, the Europe colorectal procedure market is segmented into hospitals & clinics, surgery centers, and others. The hospitals and clinics segment held 55.5% share of Europe colorectal procedure market in 2022, amassing US$ 2,893.60 million. It is projected to garner US$ 5,956.38 million by 2028 to expand at 12.8% CAGR during 2022–2028.
Based on indication, the Europe colorectal procedure market is segmented into colon polyps, Crohn's disease, colorectal cancer, colitis, irritable bowel syndrome, and other indications. The irritable bowel syndrome segment held 33.6% share of Europe colorectal procedure market in 2022, amassing US$ 1,704.06 million. It is projected to garner US$ 3,663.78 million by 2028 to expand at 13.6% CAGR during 2022–2028.
Based on country, the Europe colorectal procedure market has been categorized into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our analysis states that the Germany captured 29.5% share of Europe colorectal procedure market in 2022. It was assessed at US$ 1,492.52 million in 2022 and is likely to hit US$ 3,028.75 million by 2028, exhibiting a CAGR of 12.5% during 2022–2028.
Key players operating in the Europe colorectal procedure market are Ethicon (Johnson & Johnson Services, Inc.); Medtronic; Colospan Ltd; SAFEHEAL; B. Braun Melsungen; Cardinal Health Inc; Boston Scientific Corporation; CooperSurgical, Inc; Olympus Corporation; and Suturion AB, among others.
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