Report : South & Central America 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 13.6% CAGR, the South & Central America Colorectal Procedure Market is Speculated to be Worth US$ 1,427.31 million by 2028, says Business Market Insights
According to Business Market Insights research, the South & Central America colorectal procedure market was valued at US$ 664.91 million in 2022 and is expected to reach US$ 1,427.31 million by 2028, registering a CAGR of 13.6% from 2022 to 2028. Increasing prevalence of colorectal cancer and new product launches are the factors attributed to the South & Central America colorectal procedure market expansion.
Colorectal cancer is one of the most found and lethal cancers developed in individuals with the combined influence of genetic and environmental factors. According to the World Health Organization (WHO), colorectal cancer is the third most prevalent form of cancer, with ~1.93 million global cases in 2020. Furthermore, colorectal cancer mortality and incidence rates vary globally, and ~916,000 deaths in 2020 were due to colorectal cancer. It is the third most common cancer in men and the second most common cancer in women. The lifetime risk of developing colorectal cancer is about 1 in 23 for men and 1 in 25 for women. About 95,55,027 cancer deaths were recorded in 2018, of which 8,80,792 were related to colorectal cancer. Therefore, colorectal cancer was identified as the third most common cancer and the second most death-causing cancer. These statistics showcase increased demand for advanced cancer diagnostics and therapeutics in various regions. Thus, the rising number of patients suffering from the disease is driving the growth of the South & Central America Colorectal Procedure Market.
On the contrary, complications associated with colorectal procedure hampers the South & Central America colorectal procedure market.
Based on product, the South & Central America 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 40.8% share of South & Central America colorectal procedure market in 2022, amassing US$ 271.20 million. It is projected to garner US$ 586.94 million by 2028 to expand at 13.7% CAGR during 2022–2028.
Based on surgery type, the South & Central America 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 62.4% share of South & Central America colorectal procedure market in 2022, amassing US$ 415.14 million. It is projected to garner US$ 897.98 million by 2028 to expand at 13.7% CAGR during 2022–2028.
Based on end user, the South & Central America colorectal procedure market is segmented into hospitals & clinics, surgery centers, and others. The hospitals and clinics segment held 58.7% share of South & Central America colorectal procedure market in 2022, amassing US$ 390.40 million. It is projected to garner US$ 826.09 million by 2028 to expand at 13.3% CAGR during 2022–2028.
Based on indication, the South & Central America 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 43.7% share of South & Central America colorectal procedure market in 2022, amassing US$ 290.89 million. It is projected to garner US$ 639.79 million by 2028 to expand at 14.0% CAGR during 2022–2028.
Based on country, the South & Central America colorectal procedure market has been categorized into the Argentina, Brazil, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 38.0% share of South & Central America colorectal procedure market in 2022. It was assessed at US$ 252.86 million in 2022 and is likely to hit US$ 532.53 million by 2028, exhibiting a CAGR of 13.2% during 2022–2028.
Key players operating in the South & Central America colorectal procedure market are Ethicon (Johnson & Johnson Services, Inc.); Medtronic; B. Braun Melsungen AG; Cardinal Health Inc; Boston Scientific Corporation; and Olympus Corporation, among others.
- In Nov22, 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 both timely and accurate results for patients 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: 1) indicate Crohn's disease, 2) locate obscure bleeding, or 3) identify sources of iron deficiency anemia (IDA).
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