Comprehensive Gastrointestinal Endoscopy Market Analysis 2024: Size, Share, And Key Trends
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What Growth Rate Can Be Expected in the Gastrointestinal Endoscopy Market from 2024 Through 2033?
Over the past few years, the gastrointestinal endoscopy market has experienced significant expansion. The market is projected to rise from $14.65 billion in 2023 to $15.72 billion in 2024, indicating a compound annual growth rate (CAGR) of 7.3%. The notable growth during the historic period can be associated with the increasing occurrences of gastrointestinal diseases, heightened consciousness about early illness identification, growing elderly population, policies on reimbursement, and broadening usage in therapeutic procedures.
The value of the gastrointestinal endoscopy market is anticipated to surge in the forthcoming years, reaching $20.22 billion by 2028 with a compound annual growth rate (CAGR) of 6.5%. Factors contributing to this boom during the projection period include an upsurge in the preference for minimally invasive techniques, amplified expenditures on healthcare infrastructure, an increase in the elderly populace, broadening usage in cancer diagnosis, and elevated acceptance of capsule endoscopy. Noteworthy trends in the projection period encompass a growing inclination for incorporating artificial intelligence in endoscopy, the creation of disposable endoscopes, heightened demand for flexible endoscopes, attention towards tele-endoscopy services, and the amalgamation of robotics in gastrointestinal endoscopy.
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What Dynamics Are Shaping the Growth of the gastrointestinal endoscopy Market?
The rise in gastrointestinal disorders is propelling growth in the gastrointestinal endoscopy market. These are disorders that impact the digestive system, encompassing all organs involved in the process of digestion and food processing. The technique of gastrointestinal endoscopy is prominently used to detect irregularities, collect tissue specimens for biopsy, and carry out therapeutic interventions in the diagnosis and treatment of gastrointestinal diseases. As an example, findings from Cancer Research UK estimate a 5% surge in pancreatic cancer cases in the UK from 2023 to 2025. Additionally, a research paper published in March 2023 in the Journal of the Canadian Association of Gastroenterology predicts a jump in the incidence of inflammatory bowel disease in Canada from 825 per 100,000 people in 2023 to 1075 per 100,000 people by 2035. Consequently, the escalating rates of gastrointestinal ailments are contributing to the growth of the gastrointestinal endoscopy market.
What Are the Essential Segments of the Gastrointestinal Endoscopy Market?
1) By Product: Endoscopes, Camera Heads, Visualization Systems, Biopsy Devices, Capsule Endoscopes, Transmitters And Receivers, Robot-Assisted Endoscopes
2) By Application: OGIB (Obscure GI Tract Bleeding), Crohn’s Disease, Small Intestine Tumor, Other Applications
3) By End User: Hospitals, Ambulatory Surgery Centers Or Clinics, Other End Users
What Are the Defining Trends in the Evolving Gastrointestinal Endoscopy Market?
A major trend in the gastrointestinal endoscopy market is the introduction of innovative product developments in endoscopic devices. To maintain their market position, key businesses in this sector are unveiling cutting-edge endoscopic devices. For example, in December 2021, Fujifilm Healthcare Americas Corporation, a pioneer and producer of endosurgical and endoscopic solutions based in the US, launched the TRACMOTION. This endoscopic device, specifically designed for endoscopic submucosal dissection (ESD), features a 360° rotating jaw that simplifies the handling and re-handling of large lesions in the gastrointestinal tract and decreases the duration of ESD procedures. Moreover, it aids in improving the visualization of the clinician and streamlines the process of lesion extraction.
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Which Regions Are Emerging as Leaders in the Gastrointestinal Endoscopy Market?
North America was the largest region in the gastrointestinal endoscopy market in 2023. The regions covered in the gastrointestinal endoscopy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Gastrointestinal Endoscopy Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the gastrointestinal endoscopy market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Gastrointestinal Endoscopy Market Include
1. Gastrointestinal Endoscopy Market Executive Summary
2. Gastrointestinal Endoscopy Market Segments
3. Gastrointestinal Endoscopy Market Size And Template Market Growth Rate
4. Key Gastrointestinal Endoscopy Market Trends
5. Major Gastrointestinal Endoscopy Market Drivers
……
25. Key Mergers And Acquisitions In The Gastrointestinal Endoscopy Market
26. Top Gastrointestinal Endoscopy Companies
27. Gastrointestinal Endoscopy Market Opportunities And Strategies
28. Gastrointestinal Endoscopy Market, Conclusions And Recommendations
29. Appendix
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