Gastroenterology Devices Market Was Valued at USD 9,7438.2 Million in 2021 Owing to Increasing Prevalence of Gastrointestinal Diseases

According to Precision Business Insights (PBI), the latest report the global gastroenterology devices market is valued at USD 9,7438.2 million in 2021. The global gastroenterology devices market is segmented into the following types: By Product Type (Endoscopy Devices, Ostomy Products, Enteral Feeding Pumps, Bariatric Surgery Devices, and Others), By End Users (Hospitals, Clinic, and Others), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East Africa) Forecast to 2028. Key players' profiles in the gastroenterology devices market report are B. Braun Melsungen AG, Boston Scientific Corporation, Cardinal Health, Covidien Ltd, CONMED Corporation, Fujifilm, Johnson and Johnson, Karl Storz GmbH and Co. KG, Olympus Corporation, Stryker Corporation. In the hospital environment of underdeveloped countries, gastrointestinal disease outbreaks are a severe problem. Gastrointestinal problems are more tolerable in Caucasians. Thus, healthcare providers in the Western World focus on early detection, treatment, and infection control. The gastroenterology devices market is predicted to increase as a result of these factors. The gastroenterology devices market is restrained by high healthcare expenditures for treating gastrointestinal diseases.

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Endoscopy Segment Dominates the Gastroenterology Devices Market:
Endoscopes are currently in huge demand due to the increasing number of people suffering from irritating bowel syndrome, Crohn's disease etc., which requires early screening to prescribe appropriate treatment regime Capsule endoscopy is gaining popularity on account of its ability to generate internal images of small intestines and colon regions to aid accurate laparoscopic surgery.

North America Leads Gastroenterology Devices Market:
Because of its well-established healthcare infrastructure, advanced technology adoption, geriatric population increase, and prevalence of gastrointestinal and abdominal diseases in the region, North America accounted for the largest share of the global gastroenterology devices market in 2021. However, Asia-Pacific is expected to have the greatest CAGR throughout the projection period due to the increased prevalence of chronic diseases, population expansion, and improvements in healthcare facilities.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global gastroenterology devices market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In August 2021, Stryker announced a definitive merger agreement to acquire all of the issued and outstanding shares of common stock of Vocera Communications, Inc. Vocera brings a highly complementary and innovative portfolio to Stryker's Medical division that will address the increasing need for hospitals to connect caregivers and disparate data-generating medical devices, which will help drive efficiencies and improve safety and outcomes

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Detailed Segmentation:
Based on the Product Type, the market is segmented into the following:
• Endoscopy Devices
• Ostomy Products
• Enteral Feeding Pumps
• Bariatric Surgery Devices
• Others

Based on the End Users, the market is segmented into the following:
• Hospitals
• Clinic
• Others

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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