Endotherapy Devices Market Report 2024 - Endotherapy Devices Market Size, Share And Trends

"The Business Research Company recently released a comprehensive report on the Global Endotherapy Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The endotherapy devices market size has grown strongly in recent years. It will grow from $4.48 billion in 2023 to $4.76 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to rising prevalence of gastrointestinal disorders, aging population, increased awareness and early diagnosis, favorable reimbursement policies, global economic development, strategic collaborations and partnerships.

The endotherapy devices market size is expected to see strong growth in the next few years. It will grow to $6.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to advancements in minimally invasive techniques, growing burden of chronic diseases, expansion of healthcare infrastructure, increased focus on early detection, regulatory support and standardization. Major trends in the forecast period include advances in imaging technologies, integration of artificial intelligence, technological advancements, global expansion of healthcare infrastructure, increased prevalence of gastrointestinal disorders.

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Market Drivers and Trends:
The rise in the incidence of gastrointestinal diseases is expected to propel the growth of the endotherapy devices market going forward. Gastrointestinal illnesses impact the digestive tract from the mouth to the anus, which includes colorectal cancer, gastroesophageal reflux disease, ulcerative colitis (UC), inflammatory bowel disease (IBD), Crohn's disease (CD), and others. Endotherapy devices are used in gastrointestinal diseases to perform non-invasive or minimally invasive surgical procedures to treat and diagnose ulcers, bleeding, celiac disease, obstructions, inflammation, and tumors in the gastrointestinal tract. Additionally, it also aids in the identification of the source of unexplained symptoms such as heartburn, abdominal pain, bleeding, nausea, vomiting, and pain. For instance, in January 2021, an article published by Cleveland Clinic, a US-based non-profit academic medical center, diverticular illness is quite frequent, affecting 10% of persons over the age of 40 and 50% of people over the age of 60 in Western societies, whereas, colorectal cancer, the second most frequent type of cancer in the United States, is diagnosed in 130,000 Americans each year. Therefore, the rise in the incidence of gastrointestinal diseases driving the growth of the endotherapy devices market.

Technological advancements are a key trend gaining popularity in the endotherapy devices market. Major companies in the endotherapy devices market are focused on innovating their products to improve the observation power and sustain their position in the market. For Instance, in October 2021, FUJIFILM Healthcare Americas Corporation, a US-based leading provider of endoscopic imaging and endosurgical solutions, introduced the El-740D/S dual-channel endoscope for gastrointestinal applications. The EI-740D/S includes dual channel widths of 3.7mm and 3.2mm with unique features such as Linked Colour Imaging (LCI) and Blue Light Imaging (BLI) light mode options for improved detection and characterization of lesions and adenomas, which offers high imaging quality that improves comfort without sacrificing control and to reduce physician fatigue. Additionally, the endoscope's distal end is designed for easy insertion and device visualization, while it's 210° upward angulation and short bending part provide precision manoeuvrability, allowing observation and treatment of locations that are generally difficult to approach.

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Major Key Players of the Market:
Olympus Corporation; Boston Scientific Corporation; Conmed Corporation; Medtronic Plc; Fujifilm Holdings Corporation; Johnson & JohnsonCook Group Incorporated; Karl Storz SE & Co. KG; Stryker Corporation; Siemens Healthcare; Taewoong Medical Co. Ltd; Smith & Nephew Plc.; Steris Corporation; Cosmed Corporation; Micro-Tech (Nanjing) Co Ltd.; HOYA Corporation; Cook Group Incorporated; B. Braun Melsungen AG; Frontier Healthcare; Advanced Sterilization Products Services Inc.; Pentax Medical; Nipro Corporation; MEDIVATORS B.V.; The Cooper Companies Inc.; US Endoscopy Group Inc.; Richard Wolf GmbH; Cantel Medical Corp.; Fujinon Corporation; Gyrus ACMI; Cogentix Medical Inc.; Endogastric Solutions Inc.

Endotherapy Devices Market 2024 Key Insights:
• The endotherapy devices market will grow to $6.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Surge In Gastrointestinal Diseases And The Ascendancy Of Endotherapy Devices In Medical Interventions
• Technological Advancements With Dual-Channel Endoscope For Enhanced Gastrointestinal Applications
• North America as the largest region in the endotherapy devices market in 2023

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