Endotherapy Devices Market to Achieve $7 Billion Milestone by 2030

Meticulous Research®, a premier global market research firm, has unveiled its latest report titled "Endotherapy Devices Market by Type (Needles, Biopsy Forceps, Balloon Dilators, Hemostasis, Snares, Catheters, Sphincterotomes, Guide Wires, Stents, Retrieval Nets), Application (Upper GI Endoscopy, Colonoscopy, Cystoscopy) – Global Forecast to 2030."
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According to the report, the global endotherapy devices market is projected to achieve a market size of $7 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. This robust market growth is driven by several factors including the increasing prevalence of diseases necessitating endoscopic procedures, the rising incidence of gastrointestinal conditions, the growing preference for minimally invasive surgeries, an expanding geriatric population, and continuous technological advancements in endotherapy devices. Nevertheless, the market faces challenges such as the high cost of endotherapy devices and the potential risk of infections from certain devices. On the other hand, emerging economies present lucrative growth opportunities for market players, despite the constraint posed by a shortage of trained physicians.