Sphincterotomes Market Value Projected to Expand by 2018 to 2026

A sphincterotome is an endoscopic surgery instrument which is employed to incise the sphincter. The device consists of an electrosurgical cutting wire which is partially covered by a Teflon catheter. The wire extends out of the catheter, through which the sphincter is incised. The procedure is commonly known as sphincterotomy. It is a complex procedure performed endoscopically. The procedure involves cannulation of the sphincter, followed by an electrocautery process to incise the sphincter. Depending on location of the sphincter, sphincterotomy procedures are of different types: lateral internal sphincterotomy, pre-cut sphincterotomy, and standard biliary sphincterotomy. These devices are available in various lengths and shapes. Biliary sphincterotomy is usually performed during endoscopic retrograde cholangiopancreatography (ERCP). The difference between a standard catheter and a sphincterotome lies in the electrosurgical cutting wire present in the sphincterotome.

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Increasing incidence of anal fissure and reducing social stigma associated with its treatment in developing countries are factors leading to increase in the number of patients undergoing sphincterotomy procedures in these countries. According to the Centers for Disease Control and Prevention (CDC), an estimated 235,000 new cases of anal fissures are reported in the U.S. alone every year. This leads to around 150,000 patients undergoing standard biliary sphincterotomy in the country every year. Rising awareness about surgical treatment of anal fissures and increasing number of new and advanced sphincterotomes being offered in the global market are some of the major factors anticipated to drive the demand for new products in the next few years. This, in turn, is projected to drive the global sphincterotomes market from 2018 to 2026. However, lack of uniformity in the reimbursement for sphincterotomy procedures and sphincterotomes, especially in developing countries, is limiting the number of patients opting for surgical treatment of anal fissures. This is anticipated to restrain the global sphincterotomes market from 2018 to 2026.

The global sphincterotomes market has been segmented based on product, feature, application, end-user, and region. Based on product, the global market has been segmented into pull-type sphincterotomes, push-type sphincterotomes, needle-type sphincterotomes, shark’s fin-type sphincterotomes, and others. Among these, the pull-type sphincterotomes segment accounted for the largest market share in 2017, owing to higher preference for this type of sphincterotomes by health care providers. Based on feature, the global sphincterotomes market has been divided into partially covered sphincterotomes and uncovered sphincterotomes. The partially covered sphincterotomes segment is anticipated to register a comparatively high CAGR from 2018 to 2026. Introduction of new products under this segment and ease of operation led to rise in the demand for partially covered sphincterotomes across the world in 2017. In terms of application, the global sphincterotomes market has been classified into standard biliary sphincterotomy, pancreatic sphincterotomy, lateral internal sphincterotomy, pre-cut sphincterotomy, and others. The standard biliary sphincterotomy segment dominated the global sphincterotomes market in 2017. Based on end-user, the market has been segmented into hospitals, specialty clinics, ambulatory surgery centers, and others.

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Based on region, the global sphincterotomes market has been segregated into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global sphincterotomes market in 2017 and is expected to continue its dominance during the forecast period. Increasing number of patients undergoing surgical treatment for anal fissure and high per capita health care expenditure in the region are some of the factors leading to the major share held by North America in the global market. The market in Asia Pacific is anticipated to register a comparatively high CAGR from 2018 to 2026, owing to rising awareness about surgical treatment of anal fissure and reducing social stigma associated with the treatment in the region.

Key players operating in the Sphincterotomes market are TeleMed Systems, Inc., Boston Scientific Corporation, OLYMPUS CORPORATION, Cook, ENDO-FLEX GmbH, CONMED Corporation, and MEDI-GLOBE CORPORATION.

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