The Global Esophagoscopes and Gastroscopes Industry Is Likely To Climb To USD 3065.7 million by 2032

The global esophagoscopes and gastroscopes market was valued at USD 1643.0 million in 2022 and it is anticipated to grow further till USD 3065.7 million by 2032, at a CAGR of 6.4% during the forecast period.

The medical equipment used for esophagoscopy and gastroscopy procedures are called gastroscopes and esophagoscopes, respectively. Esophagoscopy aids in the early diagnosis of Barrett's oesophagus, cancer cells, and forming ulcers. The gastroscopy procedure, on the other hand, is used to examine gastrointestinal anomalies such dysphagia and gastroesophageal reflux disease. The market offers a variety of gastroscope and esophagoscope varieties, including flexible, rigid, and dual channels. The benefits of esophagoscopes and gastroscopes also include better disease diagnosis, simplicity of insertion and removal, painlessness, minimal risk, accurate visualisation of worrisome lesions, and cost effectiveness.

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Market Driver and Trends

Some of the key factors projected to propel market expansion over the forecast years are the rise in the frequency of chronic conditions and the growing awareness of early disease identification through minimally invasive surgical methods. Additionally, it is anticipated that favourable reimbursement policies and an increase in the number of endoscopic devices receiving FDA approval would accelerate the market's expansion over time. For instance, the disposable digestive endoscopy system from EndoFresh was given 510(k) clearance by the US Food and Drug Administration in 2021. This equipment was created to lessen the possibility of infection during gastrointestinal procedures.

Market Restraints and Challenges

The COVID-19 pandemic caused a decline in endoscopic procedures, which hindered market expansion in 2020. Many endoscopic facilities have cancelled or delayed elective and semi-urgent treatments due to the risk of cross-contamination and the potential for SARS-CoV-2 transmission, which is preventing the industry from growing at this time. The disruption of the supply chain and the alteration of laws to stop the spread of illness are two other significant reasons that limited market expansion in 2020. For instance, a study on the endoscopy unit of the Cancer Institute of the State of So Paulo (ICESP) reported a 55% decrease in endoscopic procedures during the pandemic in the Clinics (Sao Paulo) journal in 2021.

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Global Esophagoscopes and Gastroscopes Market Segmentation

By Type

• Rigid
• Flexible
• Transnasal
• Others

By Application

• Gastroesophageal Surgical Centers
• Ulcers
• Barrett's Esophagus
• Celiac Diseases
• Others

Major Players in the Global Esophagoscopes and Gastroscopes Market

The major players studied in the report are FUJIFILM Corporation, B. Braun Melsungen AG, Olympus Corporation, Smart Medical Systems, KARL STORZ, Medtronic Plc, HOYA GROUP, Aohua Endoscopy Co., Ltd., CONMED Corporation, and Stryker Corporation among others.

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