Tag: gastrointestinal endoscopy market forecast

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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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The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Gastrointestinal Endoscopy Global Market Report 2024, the gastrointestinal endoscopy market is expected to show significant growth in the forecast period.

The gastrointestinal endoscopy market has witnessed significant growth in recent years, driven by various factors:

• Increasing prevalence of gastrointestinal diseases
• Rising awareness about early disease detection
• Growing aging population
• Reimbursement policies
• Expanding applications in therapeutic procedures

Gastrointestinal diseases affect the GI tract and are diagnosed and treated using endoscopy techniques.

Market Players and Growth Predictions

• Major companies driving the market include Merck & Co Inc., Medtronic PLC, Johnson & Johnson MedTech, and more.
• The market size is expected to reach $15.72 billion in 2024 with a CAGR of 7.3%.
• Further growth is forecasted, reaching $20.22 billion in 2028 at a CAGR of 6.5%.

View More On The Gastrointestinal Endoscopy Market Report 2024 – https://www.thebusinessresearchcompany.com/report/gastrointestinal-endoscopy-global-market-report

Trends Shaping the Market

Several trends are shaping the gastrointestinal endoscopy market:

• Increasing use of artificial intelligence
• Development of disposable endoscopes
• Rising demand for flexible endoscopes
• Focus on tele-endoscopy services
• Integration of robotics

Gastrointestinal Endoscopy Market Trends Fueled By Advanced Device Launches

Innovation in endoscopic devices is a significant trend driving market growth:

• Companies like Fujifilm Healthcare Americas Corporation are introducing advanced devices like TRACMOTION, designed for endoscopic submucosal dissection (ESD).
• These innovations improve visualization and simplify procedures, enhancing clinicians’ capabilities.

Boston Scientific Acquires Apollo Endosurgery

• In April 2023, Boston Scientific acquired Apollo Endosurgery for $615 million.
• This acquisition aims to strengthen Boston Scientific’s endoluminal surgery portfolio and endo-bariatric solutions.

Market Segmentation

The gastrointestinal endoscopy market is segmented based on:

1. Product: Including endoscopes, camera heads, visualization systems, biopsy devices, capsule endoscopes, and more.
2. Application: Covering OGIB, Crohn’s disease, small intestine tumor, and other applications.
3. End User: Such as hospitals, ambulatory surgery centers or clinics, and others.

Regional Analysis

• North America led the gastrointestinal endoscopy market in 2023.

The market’s growth is driven by technological advancements, increasing demand for minimally invasive procedures, and the expanding healthcare infrastructure. With continuous innovation and strategic acquisitions, the market is poised for further expansion, catering to the growing needs of patients and clinicians alike.

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