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Gastroendoscopes Market Expected to Witness Massive Growth with a Significant CAGR of 4.85%, asserts DelveInsight

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Gastroendoscopes Market Expected to Witness Massive Growth with a Significant CAGR of 4.85%, asserts DelveInsight

November 14
22:37 2022
Gastroendoscopes Market Expected to Witness Massive Growth with a Significant CAGR of 4.85%, asserts DelveInsight
Gastroendoscopes Market
The Global Gastroendoscopes market was valued at USD 3.29 billion in 2021, growing at a CAGR of 6.69% during the forecast period from 2022 to 2027 to reach USD 4.85 billion by 2027.

The Global Gastroendoscopes market was valued at USD 3.29 billion in 2021, growing at a CAGR of 6.69% during the forecast period from 2022 to 2027 to reach USD 4.85 billion by 2027. 

The Gastroendoscopes market is witnessing a positive market growth owing to the factors such as the increasing prevalence of various Gastrointestinal diseases such as gastro-oesophageal reflux disease (GORD), growing prevalence of stomach cancer and oesophageal cancer, rising cases of gastrointestinal procedures among the geriatric population, and rapid product development activities with respect to Gastroendoscopes among others.

Some of the key market players operating in the Gastroendoscopes market include Olympus, Boston Scientific Corporation, CONMED Corporation, Ambu A/S, PENTAX Medical, KARL STORZ SE & Co. KG, Shaili Endoscopy, Stryker, FUJIFILM Healthcare Americas Corporation, Medtronic, Albyn Medical Ltd., Creo Medical, CapsoVision, Inc., Changzhou JIUHONG Medical Instrument Co., Ltd., and others.

DelveInsight’s “Gastroendoscopes Market Insight & Forecast” report will offer an in-depth understanding of the Gastroendoscopes market, further benefiting the competitors or stakeholders operating in the Gastroendoscopes arena.

Gastroendoscopes Overview

A Gastroendoscopes is a device that is used in the visualization of the internal anatomy of the oesophagus, stomach, and duodenum.

Interested in knowing more about the functioning of Gastroendoscopes- Visit @ Gastroendoscopes Operations & Working.

Gastroendoscopes Market Insights

Among all the regions, North America is expected to account for the largest share in the global gastroendoscopes market. Factors such as the increasing prevalence of various cancers including gastrointestinal cancer, rising government initiatives, and increased product launches are expected to aid in the growth of the North America Gastroendoscopes Market. 

Furthermore, high disposable income, sophisticated healthcare infrastructure, increased awareness regarding disease progression and new product launches are also expected to aid in the Gastroendoscopes market growth in this region.

According to the American Cancer Society 2021, in the United States, about 26,560 new cases of stomach cancer (16,160 in men and 10,400 in women) and about 11,180 deaths from this type of cancer (6,740 men and 4,440 women) have been estimated.

Furthermore, according to the same statistics, stomach cancer accounts for about 1.5% of all new cancers diagnosed in the US each year. Therefore, the rising prevalence of stomach cancers in the country would result in the rising demand for treatments that make use of Gastroendoscopes, which in turn would provide a conducive growth environment for the United States Gastroendoscopes market as well as the North American region.

Furthermore, the increased emphasis on product development activities and the high interest of device manufacturers in accessing local markets further aid in the growth of the regional markets for Gastroendoscopes. For instance, on September 23, 2020, CapsoVision announced that the US FDA applied enforcement discretion which allowed at-home administration of the CapsoCam Plus® small bowel capsule endoscope during the COVID-19 pandemic for patients who are determined eligible for at-home administration.

These kinds of product launches in the local markets correlate to a significant reduction in costs, providing at-home care, thereby driving the product demand in the market. Therefore, the interplay of various factors such as the presence of a large patient population, encouraging reimbursement policies as well as new product launches in the region is expected to boost the North America Gastroendoscopes market during the forecast period.

To read more about why North America is leading the market growth in the Gastroendoscopes market, get a snapshot of the Gastroendoscopes market report.

Gastroendoscopes Market Dynamics

The Gastroendoscopes market is witnessing a growth in product demand owing to various reasons, one of the key factors being the increasing prevalence of Gastrointestinal Cancer. According to the World Cancer Research Fund 2018, Stomach cancer is the fifth most common cancer worldwide. As per the same statistics in 2018, Stomach cancer is the fourth most commonly occurring cancer in men and the seventh most commonly occurring cancer in women. Gastrointestinal cancer is a major public health problem worldwide in 2018. Detection of early neoplastic lesions in the gastrointestinal tract is essential for a cure because prognosis and survival are related to the size and stage of malignant lesions. With proper endoscopy, visualization becomes better. Therefore, the increasing prevalence of Gastrointestinal Cancer is projected to result in the growing demand for Gastroendoscopes, thereby contributing to the growth of the Gastroendoscopes market during the forecast period.

Another key factor responsible for the growth of the Gastroendoscopes market is the increasing geriatric population base across the globe. According to the data provided by the World Health Organization, in 2020, about one billion people across the world were over the age of 60. The source further stated that by 2050, the elderly population in the 60 and above age group is expected to double in number representing about 2.1 billion people, and people in the age group of 80 and above are estimated to triple between 2020 and 2050 to reach 426 million. Age is considered as one of the key risk factors associated with the development of gastrointestinal diseases, therefore, the rising elderly population is expected to lead to the rise in the patient population of gastrointestinal diseases across the world, which in turn would lead to an increase in demand for Gastroendoscopes in the forecast period, which will drive the Gastroendoscopes market growth.

Along with the factors mentioned above, technological advancements in the field of Gastroendoscopy such as the development of new Gastroendoscopic techniques such as dual types of Gastroendoscopes that can be used for both upper and lower tract with the aim to enhance the yield and diagnostic accuracy are also expected to aid in the growth of the Gastroendoscopes market. For instance, on October 20, 2021, FUJIFILM Healthcare Americas Corporation announced the launch of its El-740D/S dual-channel endoscope. Fujifilm’s EI-740D/S is the first dual-channel endoscope cleared by the US FDA for use in both upper and lower gastrointestinal applications. Therefore, this may indicate that the key manufacturers are involved actively and may result in the higher demand for Gastroendoscopes, thereby taking the Gastroendoscopes market growth forward during the forecast period.

However, postoperative complications associated with Gastroendoscopy such as internal bleeding, tearing (perforation) of the lining of the oesophagus, stomach, or duodenum, and abnormal reaction to the sedative, including breathing or heart problems may be certain limiting factors of the Gastroendoscopes market growth.

The outbreak of the pandemic led to the cancellation of outpatient visits and the suspension of non-emergency hospitals and procedures. This resulted in the reduced number of routine clinical examinations of the gastrological visits and related procedures. However, vaccine development of COVID-19 has initiated the process of economic recovery with the easing of lockdown restrictions and the return of normalcy in the economic landscape which has initiated the process of resumption of regular healthcare services such as outpatients visits and resumption of healthcare services, thereby bringing the demand for products on track in the Gastroendoscopes market.

Recent Breakthroughs in Gastroendoscopes Market:

  • On August 18, 2021, The Ambu® aScope™ Duodeno received a CE mark and is ready to be used at healthcare centers in Europe. The product was already been commercialized in the USA  since December 2020. The aScope™ Duodeno is Ambu’s first device for GI (gastrointestinal) endoscopy.
  • On November 3, 2020, ALBYN MEDICAL SL acquired BOUCART MEDICAL Srl., a leading company that distributes endoscopy accessories based in Brussels, Belgium.
  • On September 1, 2018, ALBYN MEDICAL SL acquired PAULDRACH Medical GmbH, based in Hannover, Germany, a company that distributes endoscopy accessories in German-speaking countries.

Key Players Proactively Working In the Gastroendoscopes Market

Key Gastroendoscopes companies involved in manufacturing and production are making significant growth in advancing these devices. To boost their market position, they also engage in mergers and acquisitions. Some of the key Gastroendoscopes companies operating actively in the Gastroendoscopes market include Olympus, Boston Scientific Corporation, CONMED Corporation, Ambu A/S, PENTAX Medical, KARL STORZ SE & Co. KG, Shaili Endoscopy, Stryker, FUJIFILM Healthcare Americas Corporation, Medtronic, Albyn Medical Ltd., Creo Medical, CapsoVision, Inc., Changzhou JIUHONG Medical Instrument Co., Ltd., and others.

Scope of the Gastroendoscopes Market Report:

  • Geography Covered: Global
  • Study Period: 2022-2027
  • Key Gastroendoscopes Companies: Olympus, Boston Scientific Corporation, CONMED Corporation, Ambu A/S, PENTAX Medical, KARL STORZ SE & Co. KG, Shaili Endoscopy, Stryker, FUJIFILM Healthcare Americas Corporation, Medtronic, Albyn Medical Ltd., Creo Medical, CapsoVision, Inc., Changzhou JIUHONG Medical Instrument Co., Ltd., and others.
  • Market Segmentation by Product Type: Surgical Endoscopes, Capsule Endoscopes, Transnasal Gastroscopes, Dual Channel Gastroscopes, Others
  • Market Segmentation by Device Type: Rigid Endoscopes, Flexible Endoscopes
  • Market Segmentation by Procedure: Upper Gastrointestinal, Lower Gastrointestinal
  • Market Segmentation By End-User: Hospitals, Ambulatory Surgery Centers, Others
  • Market Segmentation by Geography: North America, Europe, Asia-Pacific, Rest of the World (Middle East, Africa, and South America)
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Table of Contents 

1

Report Introduction

2

Executive Summary

3

Regulatory and Patent Analysis

4

Key Factors Analysis

5

Gastroendoscopes Porter’s Five Forces Analysis

6

COVID-19 Impact Analysis on Gastroendoscopes Market

7

Gastroendoscopes Market Layout

8

Gastroendoscopes Global Company Share Analysis – Key 3-5 Companies

9

Gastroendoscopes Companies and Product Profiles

10

Project Approach

11

KOL Views

12

DelveInsight Capabilities

13

Disclaimer

 

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