Market Trends of Sweden Endoscopy Devices Industry
Visualization Equipment Segment is Expected to Witness a Growth Over the Forecast Period
Endoscopy visualization equipment provides magnified and high-definition endoscopic images and makes it easier to visualize and precisely classify flat and small body areas. This technology makes the treatment easy and helps the physicians throughout the procedure, thus propelling the demand for such devices.
Factors such as surging disease burden and growing availability of products are mainly responsible for the growth of this segment. Cardiovascular disease (CVD) is Sweden's leading cause of healthcare burden. The prevalence and incidence of the disease are increasing with time. According to the article published in March 2022 by BMJ Open, when the research was conducted in primary healthcare centers in southern Sweden, the overall prevalence of heart failure (HF) was 2.06%. Age and the degree of multimorbidity both increase the prevalence of HF. 99.07% of the patients with HF were associated with multimorbidity. This notably indicates that the country has a burden of HF.
Thus, the increasing burden of CVD among the Swedish population is expected to boost the demand for endoscopy visualization equipment, thereby driving the market segment's growth.
Gastroenterology Segment is Expected to Hold the Significant Share Over the Forecast Period
The gastroenterology segment is expected to occupy a major market share and register rapid growth over the forecast period, owing to the country's rising incidence of gastrointestinal diseases. The gastrointestinal system in the body comprises the gastrointestinal tract, digestive tract, and alimentary canal. The major diseases associated with the system are irritable bowel syndrome (IBS), Crohn’s disease, and peptic ulcers.
The high burden of gastrointestinal diseases is the major factor driving the segment's growth. For instance, as per the study published in May 2022 by PLOS One in Sweden, the overall incidence rate for gastrointestinal diseases was 360/1000 persons per year. Moreover, acute gastrointestinal illnesses (AGI) impose a substantial economic burden on the population and healthcare system.
Moreover, the high prevalence of cancers related to the gastrointestinal tract, such as colon and rectum cancers, is expected to drive the demand for minimally invasive procedures, augmenting the market growth over the forecast period. For instance, per the data published in September 2022 by the Regional Cancer Center, colon and rectal cancer is Sweden's third most common form, with approximately 7,000 new cases per year. Almost 2,200 people die annually. In recent years, minimally invasive surgeries, such as laparoscopic or robotic surgery, have become the predominant treatment option for colon cancer, expected to boost the market's growth.
Thus, all the factors above are expected to boost the segment's growth over the forecast period.
