Gastrointestinal Endoscopic Devices Market
Number of pages: 100 | Report Format: PDF | Published date: 24 January, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 9,502.3 million |
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Revenue forecast in 2030 |
US$ 15,385.1 million |
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Growth Rate |
CAGR of 5.5% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Historical Years |
2020 |
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Segments covered |
Product Type, End User, and Region |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global gastrointestinal endoscopic devices market was pegged at US$ 9,502.3 million in 2021 and is expected to witness a CAGR of 5.5% during the forecast period.
Market Fundament
Gastrointestinal (GI) diseases are digestive system disorders that affect essential digestive organs including the mouth, oesophagus, stomach, small and large bowels, rectum, anus, and GI linked organs (liver, gallbladder, and pancreas). Endoscopes, laparoscopes/surgical endoscopes, endotherapy devices, and laparoscopic devices all play important role in the early and correct diagnosis and treatment of potentially life-threatening GI disorders, opening up new growth opportunities for GI MedTech equipment producers. Endoscopy is a type of imaging technology used to study the internal organs or veins of the body. This technology is used not just to detect damage, but also in surgical and therapeutic procedures. Many tools and equipment’s are used during endoscopy to ensure a safe and successful procedure, including procedure-specific scopes, video monitors, imaging devices, anaesthetic equipment, monitoring equipment, light sources, video processors, insufflators, endoscope cabinets, and an endoscopy cart or trolley. Endoscopy equipment is mostly used by gastroenterologists, gynaecologists, nephrologists, neurologists, cardiologists, hepatologists, and liver transplant surgeons. Endoscopy systems are often employed in minimally invasive operations to determine the cause of specific disorders and symptoms, according to the study "Anatomic Study of Endoscopic Transnasal Approach to Petrous Apex," published in January 2020. Endoscopic aided technology has traditionally been used to expose much of the space that is difficult to examine with a microscope. It can give the surgeon an unobstructed viewing field and an operating channel without retraction, considerably improving surgical quality. As a result, surgeons favour flexible endoscopic devices.
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Market Dynamics
Factors such as an increased need for endoscopy, the advancement of new technologies, an increase in investments and funding, and an increase in the number of instances of gastrectomy will drive the gastrointestinal endoscopy market. Global gastrointestinal endoscopy market intestinal ailments and rising desire for minimally invasive procedures. Furthermore, new device approvals will be critical in the advancement of gastrointestinal endoscopy. Ambu announced in February 2022 that the FDA had authorised their Ambu aScopeTM Gastro and Ambu aBoxTM 2 Single-Use Gastroscope with Next-Generation Display Unit. With advanced technology, portability, and cost-effectiveness, Ambu's solution tackles the current shortcomings of reusable endoscopes, making it a perfect alternative for clients wishing to perform gastroscopies in a range of care settings (including endoscopy unit, OR, ICU, ER, ASC). However, the high cost of endoscopic procedures, negative healthcare development, and limited reimbursement will stifle the expansion of the gastrointestinal endoscopy market. However, the rising healthcare market in emerging countries, as well as the advancement of gastrointestinal endoscopic devices, will generate many growth opportunities for the gastrointestinal endoscopy market over the forecast period.
Market Ecosystem
The global gastrointestinal endoscopic devices market has been analysed from three perspectives by Product Type, End User, and Region
Gastrointestinal Endoscopic Devices Market by Product Type
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Based on product type, the global gastrointestinal endoscopic devices market has been segmented into GI videoscopes, biopsy devices, endoscopic retrograde cholangiopancreatography devices (ERCP), capsule endoscopy, endoscopic ultrasound, endoscopic mucosal resection (EMR), hemostasis devices, other. The global GI videoscopes segment dominated the during forecast period owing to its wide adoption during endoscopic procedure for better and clearer visualization. It connects the scope arm to another direction. This helps diagnose complex disease such as gastroinstetinal disorder, cancer, urinary disorder, and lung disorder.
Gastrointestinal Endoscopic Devices Market by End User
Based on end user, the global gastrointestinal endoscopic devices market has been into hospitals, clinics & dialysis centres, ambulatory surgical centre. Hospitals are widely regarded as primary health care systems, and the patient population's preference for hospitals for the diagnosis and treatment of chronic illnesses is also supporting segment expansion. Furthermore, a significant number of hospital surgeries, including endoscopic procedures, enhance endoscopy equipment usage, consequently promoting sector growth.
Gastrointestinal Endoscopic Devices Market by Region
Based on region, the global gastrointestinal endoscopic devices market has been North America, Europe, Asia Pacific, rest of the world. North America dominated the market during forecast period. The U.S. accounts for a sizable portion of the gastrointestinal endoscopic devices market in North America. The increasing number of endoscopic examinations, rising ageing population, favourable reimbursement climate for endoscopy procedures, growth in minimally invasive endoscopic therapy procedures, rising concerns about cleaning, disinfection, and sterilisation, and higher quality expectations are expected to keep it at the forefront in the coming years. Additionally, in the United States and around the world, the usage of gastrointestinal endoscopic devices is increasing quickly. In the United States, gastrointestinal (GI) endoscopic devices can include stenting and dilation devices, GI flexible endoscopy, capsule endoscopy, ERCP, virtual colonoscopy, biopsy, foreign-body removal, hemostasis, enteral nutrition, Barret's Esophagus, and anti-reflux devices.
The Asia Pacific region is expected to grow rapidly due to the region's unmet medical needs for the diagnosis of life-threatening illnesses such as cancer and the drive for enhanced quality of life in growing countries.
Competitive Landscape
Some of the player in the global gastrointestinal endoscopic devices market include:
Strategic development
The Asia Pacific is the key growth region in the global gastrointestinal endoscopic devices market.
The rising chronic illness burden and geriatric population around the globe.
The product type segment led the global gastrointestinal endoscopic devices market.
The global gastrointestinal endoscopic market is expected to witness a CAGR of 5.5% during the forecast period
Some of the player in the global gastrointestinal endoscopic devices market include Olympus, Boston Scientific, Pentax (Hoya), Fujifilm, Cardinal Health Inc., Abbott Nutrition, Cook Medical, Karl Storz, Johnson & Johnson, Ethicon, Medtronic, Stryker, Medi-Globe, Ambu, Kimberly-Clark Corporation, Medtronic Inc., Arthrex, Richard Wolf, ERBE, Taewoong Medical Co. Ltd., and Micro-Tech among others.
*Insights on financial performance is subject to availability of information in public domain
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Snehal Deshmukh
Principle Consultant
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