The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s gastrointestinal devices market report forecasts the gastrointestinal devices market size to grow to $13.7 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.

Learn More On The Gastrointestinal Devices Market Report 2023 – https://www.thebusinessresearchcompany.com/report/gastrointestinal-devices-global-market-report

Gastrointestinal Devices Market Size Forecast
The global gastrointestinal devices market is expected to grow from $10.05 billion in 2022 to $10.61 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The gastrointestinal devices market is expected to grow from $13.7 billion in 2027 at a CAGR of 6.6%.

North America held the largest gastrointestinal devices market share.

Key Gastrointestinal Devices Market Driver ­– Increase In The Prevalence Of Gastrointestinal Diseases
According to the Endoscopy Centre, every year, 62 million Americans are diagnosed with any of the digestive disease, and 2% to 6% or an estimated three lakhs to 5 lakhs Americans suffer from inflammatory bowel disease (IBD). According to the American College of Gastroenterology estimates, 10-15% of the adult population in the USA suffer from irritable bowel syndrome (IBS) symptoms. The increased prevalence of gastrointestinal diseases increased the demand for gastrointestinal devices to treat patients, thereby driving the market growth.

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Key Gastrointestinal Devices Market Trend – increasingly being used to prevent contamination during ERCP procedures
Single-use disposable endcap of duodenoscope is increasingly being used to prevent contamination during endoscopic retrograde cholangiopancreatography (ERCP) procedures. Single-use disposable cap controls the infection and preserves the duodenoscope optics. The USFDA recommended that hospitals and clinics shift from reusable duodenoscopes to disposable parts duodenoscopes. The USFDA also approved the duodenoscope model featuring the disposable parts such as the Olympus TJF-Q190V Duodenoscope in January 2020 and Ambu® aScope™ Duodenoscope in July 2020. Olympus TJF-Q190V duodenoscope is used to perform the ERCP procedure with less risk of contamination due to the disposable distal endcap.

Gastrointestinal Devices Market Segment
1) By Product Type: GI Videoscopes, Biopsy Devices, Endoscopic Retrograde Cholangiopancreatography Devices (ERCP), Capsule Endoscopy, Endoscopic Ultrasound, Endoscopic Mucosal Resection (EMR), Hemostasis Devices, Other Product Types
2) By End Users: Hospitals, Clinics & Dialysis Centers, Ambulatory Surgical Center
3) By Sales Channel: Online Retailing, Medical Stores & Brand Outlet

Gastrointestinal Devices Market Major Players and Strategies
Major players in the gastrointestinal devices market are Boston Scientific, Medtronic, Fujifilm Holdings Corporation, CONMED Corporation, Stryker Corporation, Johnson & Johnson, Olympus, Cook Group, Becton, Dickinson, and Company, and B. Braun Melsungen.

In 2020, Olympus Corporation has announced the acquisition of Arc Medical Design Limited (Arc Medical Design), a subsidiary of Norgine B.V. This acquisition helps Olympus’ commitment to enlarging its offering in gastrointestinal therapeutic devices and the improvement of advanced colonoscopy tools. Norgine is a European-based specialist pharmaceutical company that has been bringing transformative medicines to patients for over a century.

The Gastrointestinal Devices Global Market Report 2023 covers regional data on gastrointestinal devices market size, gastrointestinal devices market trends and drivers, opportunities, strategies, and gastrointestinal devices market competitor analysis. The countries covered in the gastrointestinal devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Gastrointestinal devices are used for the diagnosis and treatment of medical conditions related to the digestive system or the gastrointestinal tract.

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