The global colorectal procedures market was valued at USD 12.4 Billion in 2021 and it is anticipated to grow further till USD 42.8 Billion by 2031, at a CAGR of 13.2% during the forecast period.
A colorectal procedure is an operation that involves colon resection and anastomosis and is used to treat a variety of diseases, including diverticulitis, ulcerative colitis, Crohn’s disease, mechanical blockage, and more. The technique helps remove the colon in its entirety or in part. Additionally removed are nearby lymph nodes. Hemicolectomies, partial colectomies, and segmental resections are terms used to describe the removal of only a portion of the colon. The surgeon cuts out the cancerous portion of the colon and a tiny section of healthy colon on either side. Compared to other general surgical subspecialties, colorectal surgery has a higher risk of morbidity and mortality. All-cause mortality rates following colorectal surgery range from 1% to 16.4%, and morbidity rates can reach 35%, according to the National Library of Medicine.
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Market Trends and Drivers
One of the most prevalent and deadly tumours that develops in people as a result of the interaction of genetic and environmental factors is colorectal cancer. The World Health Organization (WHO) estimates that there will be 1.93 million new cases of colorectal cancer worldwide in 2020, making it the third most common type of cancer. In addition, colorectal cancer caused 916 000 deaths in 2020, with mortality and incidence rates differing globally. It ranks second among cancers in women and third among cancers in males. About 1 in 23 men and 1 in 25 women will acquire colorectal cancer in their lifetime. The second most prevalent disease to cause mortality and the third most common cancer overall is colorectal cancer.
Market Restraints and Challenges
However, it is predicted that colon cancer costs USD 29,196 per Medicare patient. When incident patients are found in a tumor registry, the approach can be used to estimate the long-term costs of cancer starting from baseline data. Screening can significantly lower mortality, yet it’s still up for discussion whether the approach is best. Observational research has shown that healthy lifestyle choices may also help prevent colorectal cancer. The most effective form of treatment for colorectal cancer is still surgery. Chemotherapy offers only moderate advantages in terms of survival. As a result, it causes uncertainty and skepticism regarding the price tags and possibilities of survival.
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Global Colorectal Procedures Market Segmentation
By Product
• Endoscope
• Electrosurgery
• Handheld Device and Visual Systems
• Sealing & Stapling Devices
• Ligation Clips, Dilators, & Speculas
• Cutter & Shears
• Accessories
• Others
Major Players in the Global Colorectal Procedures Market
The key players covered in the report are Ethicon (Johnson & Johnson Services, Inc.); Medtronic; Colospan Ltd; SAFEHEAL; B. Braun Melsungen AG; Cardinal Health Inc; Boston Scientific Corporation; CooperSurgical, Inc.; Olympus Corporation; and Suturion AB among others.
Reasons to buy Colorectal Procedure Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
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• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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