1. Home
  2. > Healthcare
  3. > Health Services Market Trends
Colorectal Procedure Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Surgery Type, End User, and Indication

Colorectal Procedure Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Surgery Type, End User, and Indication

  • August 2022
  • 247 pages
  • ID: 6321024
  • Format: PDF
  • The Insight Partners

Summary

Table of Contents

Search Inside

The global colorectal procedure market is projected to reach US$ 29,550.98 million by 2028 from US$ 12,496.49 million in 2021. It is expected to register a CAGR of 13.1% from 2021 to 2028.

The increasing prevalence of colorectal cancer and new product launches drive the growth of colorectal procedure. However, the complications associated with colorectal procedures hamper the market growth.

The colorectal procedural market players focus on launching new products to expand their geographic reach and enhance capacities to cater to a large 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.Moreover, in April 2021, Medtronic plc announced the US Food and Drug Administration (FDA) granted de novo clearance for GI Genius intelligent endoscopy module in the US.

The GI genius is the first and the only commercially available computer-aided detection (CADe) system using artificial intelligence (AI) to identify colorectal polyps.The module, compatible with any colonoscope video, provides physicians with a powerful new solution to fight against colorectal cancer.

Likewise, in April 2022, Safeheal announced the first patient enrollment in its pivotal study of Colovac, a groundbreaking endoluminal bypass sheath. Colovac is an alternative to temporary diverting ostomy for patients undergoing colorectal resection.
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 launches of new products are likely to bring new trends in the colorectal procedural test market in the coming years, thereby supporting its growth.

A few of the recent developments related to the colorectal procedure are mentioned below:

• In July 2022, B.Braun Medical Inc launched its new Introcan Safety IV Catheter with one-time blood control that ensures a truly automatic passive safety device protects clinicians. Introcan Safety 2 helps reduce clinician and patient’s exposure to blood with its one-time Blood Control Septum, which is designed to restrict blood flow from the catheter hub after needle removal until the first connection of a Luer access device. The newly launched Introcan Safety 2 will allow clinicians to experience passive needlestick prevention and a reduced risk of exposure to blood-borne pathogens when removing the introducer needle from the Introcan Safety 2. This is all achieved with a product similarly sized to the widely popular Introcan Safety Catheter.

• In May 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 to aid in detecting colorectal polyps during colonoscopy, potentially helping to prevent colorectal cancer.

• In February 2022, Safeheal closed a EURO 40 Million financing round led by Sifinnova Partners, a European venture capital firm, and Singapore-based medical device company, Genesis Medtech The Colovac device aims to ease digestive surgeries. The funding will help the company to continue and accelerate a running clinical trial named SAFE-2 in the US and Europe, which the FDA has already approved. The study aims to evaluate the safety and efficacy of the novel surgery approach.

• In November 2021, 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).

The overall cost of healthcare is surging significantly in North America. The US health system incurred a direct cost of US$ 5.3 billion in 2020. The healthcare system contributed US$ 60 billion in addition to the overall annual costs of the country in 2020. Over 40% of the population in North America canceled their appointments in 2020, and 13% reported that they needed care but did not schedule or receive care. The COVID-19 pandemic altered economic conditions and social behaviors in North American countries. Containment measures enacted by governments to mitigate the spread of disease changed the US healthcare service delivery pattern. According to the Department of Emergency Medicine, in many cities across the country, emergency department (ED) visits decreased by ~40% in 2020. Moreover, outpatient appointments and elective treatments were postponed or replaced by telemedicine practices.

The procedures, including screening colonoscopies, were delayed until the pandemic stabilizes.This was also done to reduce the potential risk of exposure to SARS-CoV-2 as the virus is present in feces from COVID-19 patients.

In response, there was a 90% drop in colorectal cancer (CRC) screenings, resulting in a 32% drop in new CRC diagnoses and a 53% drop in CRC-related surgical procedures by mid-April 2020.In addition, through April 2021, the rate of routine screening colonoscopies remained 50% lower than before the pandemic.

The COVID-19 pandemic presented surgeons with patients with significant complications and more advanced stages of the disease due to delayed presentations to healthcare facilities.However, hospitals gradually resumed elective and surgical procedures as the COVID-19 recovery rate decreased.

Thus, the demand for the colorectal procedure is expected to increase. Organized colorectal cancer diagnosis programs and some opportunistic screening through individuals’ health care providers had been resumed, and thus the required surgical procedures. The surgical approach is changing and moving towards less invasive procedures to minimize aerosolized biological fluids to minimize the spread of the virus. Hence, the colorectal procedure market is gaining attention after the COVID-19 impact.

Based on product, the colorectal procedure market is segmented into endoscope, electrosurgery, handheld devices & visual systems, sealing & stapling devices, ligation clips and dilators and speculas, cutter & shears, accessories, and others. The endoscope segment accounts for the largest market share in 2021 and is expected to grow at a CAGR of 13.3% during the forecast period.
Based on surgery type, the market is segmented into right hemicolectomy, left hemicolectomy, subtotal colectomy, low anterior resection, abdomino-perineal resection, and others (including endoscopic surgery etc). The subtotal colectomy segment leads the market in terms of share in 2021 and is expected to retain its dominance during the forecast period.
Based on end user, the colorectal procedure market is segmented into hospitals & clinics, surgery centers, and others. The hospital & clinics segment leads the market in 2021 and is expected to retain its dominance during the forecast period.
Based on indication, the market is segmented into colon polyps, crohn’s disease, colorectal cancer, colitis, irritable bowel syndrome, and other indications. The irritable bowel syndrome segment leads the market in 2021 and is expected to retain its dominance during the forecast period.

The World Health Organization (WHO), National Healthcare Service (NHS), Centers for Disease Control and Prevention (CDC), Canadian Partnership Against Cancer (CPAC), Food and Drug Administration (FDA), National Institute of Health Research (NIHR) are among the major secondary sources referred to while preparing the report on the colorectal procedure market.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

North America Colorectal Procedure Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product, Surgery Type, End User, and Indication

  • $ 3000
  • November 2022
  • 154 pages

The North America colorectal procedure market is projected to grow from US$ 6,311.66 million in 2022 to US$ 12,946.28 million by 2028. It is estimated to grow at a CAGR of 12.7% from 2022 to 2028. Increasing ...

  • North America
  • Digestive System Disorder
  • Surgery
  • Industry analysis
  • Mortality Rate
  • Colorectal Cancer Screening Coverage

ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on