Global Gastrointestinal Bleeding Treatment Devices Market Analysis 2023: Size, Share, And Key Trends
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
As per The Business Research Company’s Gastrointestinal Bleeding Treatment Devices Global Market Report 2023, the gastrointestinal bleeding treatment devices market is expected to show significant growth in the forecast period.
Key insights from the gastrointestinal bleeding treatment devices market forecast include:
- Market Size
The global gastrointestinal bleeding treatment devices market is expected to grow from $0.78 billion in 2022 to $0.83 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The gastrointestinal bleeding treatment devices market size is expected to grow to $1.03 billion in 2027 at a CAGR of 5.6%.
- Major Driver
The increase in upper gastrointestinal bleeding occurrences is expected to contribute to the growth of the gastrointestinal bleeding treatment devices market during the forecast period. According to the National Institute for Health and Care Excellence, the incidence of acute upper GI bleeding in the United Kingdom ranges from 84 to 172 per 100,000 people per year. Furthermore, according to a report published in the International Journal of Surgery Global Health in May 2020, the Western world’s annual incidence of acute upper GI bleeding is 103 cases per 100,000 persons. As a result, the rise in upper gastrointestinal bleeding incidences drives the growth of the gastrointestinal bleeding treatment devices market.
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- Key Trend
The rising number of product approvals is a key trend gaining traction in the market for gastrointestinal bleeding treatment devices. Key market companies are focused on product approvals in order to keep a competitive advantage over competitors in the sector. For example, in February 2021, EndoClot Plus Inc., a US-based company developing medical devices for GI professionals, announced FDA approval for EndoClot Polysaccharide Hemostatic System (EndoClot PHS), an advanced product that will help Gastroenterologists stop bleeding quickly and effectively. EndoClot PHS is a single-use device that consists of a starch-based powder hemostat applied directly to the bleeding site using a flexible endoscope.
- Largest Region
North America was the largest region in the gastrointestinal bleeding treatment devices market in 2022.
- Major Players
Major players in the food diagnostics market are CONMED, Boston Scientific Corporation, US Medical Innovations, Ovesco Endoscopy AG, Olympus Corporation, Cook Medical, Erbe Elektromedizin GmbH, Steris PLC, and Pfizer Inc.
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Key Gastrointestinal Bleeding Treatment Devices Market Segments
The global gastrointestinal bleeding treatment devices market is segmented –
1) By Product: Endoscopic Thermal Devices, Other Products
2) By GI Tract Division: Upper GI Tract, Lower GI Tract
3) By End User: Hospitals Or Clinics, Ambulatory Surgical Centers, Other End-users
The Gastrointestinal Bleeding Treatment Devices Global Market Report 2023 provides an in-depth analysis on the gastrointestinal bleeding treatment devices market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the gastrointestinal bleeding treatment 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.
View More Related Reports –
Gastrointestinal Devices Global Market Report 2023
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