Future Outlook of the Esophagoscopes And Gastroscopes Market: Growth, Trends, and Emerging Opportunities Explored
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How has the Esophagoscopes And Gastroscopes market grown in recent years?
The market for esophagoscopes and gastroscopes has seen a robust increase in size in the past few years. From being valued at $1.67 billion in 2024, it is projected to reach $1.78 billion in 2025, representing a compound annual growth rate (CAGR) of 7.1%. This growth seen in the historical period can be linked to the increasing occurrence of gastrointestinal disorders, a rising aged population, advancements in early detection and cancer screening methods, along with the adoption of minimally invasive procedures.
How is the esophagoscopes and gastroscopes market size expected to evolve during the forecast period?
In the coming years, the esophagoscopes and gastroscopes market size is projected to undergo significant expansion. This sector is predicted to expand to $2.3 billion by 2029, with a compound annual growth rate (CAGR) of 6.6%. Factors contributing to this anticipated increase during the forecast period include the expansion of outpatient endoscopy centers, the public’s preference for non-invasive medical procedures, advancements in imaging and visualization technology, and healthcare infrastructure development. Major trends expected to shape the market during the forecast period include progression in endoscopy technology, technological innovations, 3D imaging, artificial intelligence (AI), and image review.
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Which key drivers are propelling the esophagoscopes and gastroscopes market’s growth?
The esophagoscope and gastroscope market is seeing an upward trend due to the escalating cases of inflammatory bowel disease. This chronic condition results in inflammation in the digestive tract and is efficiently diagnosed and managed using esophagoscopes and gastroscopes, as these devices facilitate the visual examination of the gastrointestinal tract. As per a research study featured in the Journal of the Canadian Association of Gastroenterology in March 2023, it is predicted that the inflammatory bowel disease incidence rate in Canada will rise from 825 per 100,000 in the year 2023 up to 1075 per 100,000 by 2035. Consequently, the increased situations of inflammatory bowel disease catalyze the expansion of the esophagoscope and gastroscope sector.
Esophagoscopes And Gastroscopes Market Driver: Rising Cases Of Esophageal Cancer Growth In Esophagoscope And Gastroscope Market
What are the market segments in the esophagoscopes and gastroscopes industry?
The esophagoscopes and gastroscopes market covered in this report is segmented –
1) By Type: Rigid, Flexible, Transnasal, Other Types
2) By Application: Gastroesophageal Reflux Disease, Ulcers, Barrett’s Esophagus, Celiac Disease, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Diagnostic Centers, Other End Users
Subsegments:
1) By Rigid: Rigid Esophagoscopes, Rigid Gastroscopes
2) By Flexible: Flexible Esophagoscopes, Flexible Gastroscopes
3) By Transnasal: Transnasal Esophagoscopes, Transnasal Gastroscopes
4) By Other Types: Single-Use Endoscopes, Dual-Use Endoscopes
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Which leading companies are shaping the growth of the esophagoscopes and gastroscopes market?
Major companies operating in the esophagoscopes and gastroscopes market are Medtronic PLC, FUJIFILM Corporation, Stryker Corporation, Boston Scientific Corporation, B Braun Melsungen AG, Olympus Corporation, HOYA Corporation, Smith & Nephew PLC, Ethicon Inc., Hologic Inc., Steris PLC, Teleflex Incorporated, Karl Storz SE & Co. KG, CONMED Corporation, Ambu A/S, Richard Wolf GmbH, SonoScape Medical Corporation, Vimex Endoscopy Sp. z o.o., Smart Medical Systems Ltd., Jedmed Instrument Co, Endomed Systems GmbH, Maxer Endoscopy GmbH, Surtex Instruments Limited, FENTEX medical GmbH, Machida Endoscope Co. Ltd., Aohua Endoscopy Co. Ltd., Zhejiang Shendasiao Medical Instrument Co. Ltd., Hangzhou Orient Medical Co. Ltd., Medical Device Depot Inc., Optec Endoscopy Systems GmbH.
What key trends are currently impacting the esophagoscopes and gastroscopes market’s development?
Principal companies in the esophagoscopes and gastroscopes market are striving to create novel solutions like flexible endoscopes to secure a competitive edge. The flexible endoscope, a medical tool created to inspect internal organs such as the gastrointestinal tract, employs a flexible tubing attached to a camera, allowing for near real-time imaging and facilitating less invasive procedures. For example, in October 2024, Lumicell, an American biotechnology firm, was awarded a $400,000 Phase I Small Business Innovation Research (SBIR) grant by the National Cancer Institute (NCI) to create a unique flexible endoscope for the diagnosis of Barrett’s esophagus. Their endoscopic imaging system will use far infrared fluorescence and reflected light imaging in an effort to pinpoint potentially malignant growths in real-time, with the goal of enhancing early detection of esophageal adenocarcinoma (EAC). The present day diagnosis of pre-cancerous growths requires endoscopy and arbitrary biopsies, a process that is not always efficient or timely. The technology being developed by Lumicell aims to augment diagnostic sensitivity, decrease the reliance on resources, and enable prompt treatment of identified lesions.
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Which geographic areas are influencing the growth of the esophagoscopes and gastroscopes market?
North America was the largest region in the esophagoscopes and gastroscopes market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in esophagoscopes and gastroscopes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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