Global Gastrointestinal Devices Market Size
Medical Equipment

What Will The Gastrointestinal Devices Market Look Like In 2023?

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%.

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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, 62 million Americans are diagnosed with a digestive disorder each year, with 2% to 6%, or an estimated three lakhs to five lakhs, suffering from inflammatory bowel disease (IBD). According to the American College of Gastroenterology, 10-15% of adults in the United States suffer from irritable bowel syndrome (IBS) symptoms. As the frequency of gastrointestinal disorders expanded, so did the demand for gastrointestinal devices to treat patients, propelling the industry forward.

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Key Gastrointestinal Devices Market Trend – Adopting Endoscopic Retrograde Cholangiopancreatography
To reduce contamination during endoscopic retrograde cholangiopancreatography (ERCP) procedures, single-use disposable duodenoscope endcaps are increasingly being employed. The single-use disposable cap prevents infection and protects the optics of the duodenoscope. The USFDA suggested that hospitals and clinics switch from reusable to disposable duodenoscopes. The USFDA also approved disposable duodenoscope models such as the Olympus TJF-Q190V Duodenoscope in January 2020 and the Ambu® aScopeTM Duodenoscope in July 2020. Because of the disposable distal endcap, the Olympus TJF-Q190V duodenoscope is utilised to execute the ERCP operation with minimal risk of contamination.

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.

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 to diagnose and treat medical disorders involving the digestive system or the gastrointestinal tract.

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