Gastrointestinal Endoscopy Market Size, Trends And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Gastrointestinal Endoscopy 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.

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According to The Business Research Company's, The gastrointestinal endoscopy market size has grown strongly in recent years. It will grow from $14.65 billion in 2023 to $15.72 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increasing prevalence of gastrointestinal disorders, rising awareness about early disease detection, growing aging population, reimbursement policies, expanding applications in therapeutic procedures.

The gastrointestinal endoscopy market size is expected to see strong growth in the next few years. It will grow to $20.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rising demand for minimally invasive procedures, increasing healthcare infrastructure investment, growth in the geriatric population, expanding applications in oncology diagnosis, rising adoption of capsule endoscopy. Major trends in the forecast period include increasing use of artificial intelligence in endoscopy, development of disposable endoscopes, rising demand for flexible endoscopes, focus on tele-endoscopy services, integration of robotics in gastrointestinal endoscopy.

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Market Drivers and Trends:

The increasing prevalence of gastrointestinal diseases is driving the gastrointestinal endoscopy market going forward. Gastrointestinal diseases are a group of disorders that affect the gastrointestinal (GI) tract, including the organs involved in digestion and food processing. Gastrointestinal endoscopy is a widely used technique to identify abnormalities, obtain tissue samples for biopsy, and perform therapeutic interventions in diagnosing and treating gastrointestinal diseases. For instance, in 2023, according to Cancer Research UK, the UK-based independent cancer research organization, the incidence rate of pancreatic cancer in the UK is expected to increase by 5% from 2023 to 2025. Furthermore, in March 2023, according to a research article published in the Journal of the Canadian Association of Gastroenterology, a Canada-based open-access peer-reviewed journal, the incidence rate of inflammatory bowel disease in Canada is expected to increase from 825 per 100,000 in 2023 to 1075 per 100,000 in 2035. Therefore, the increasing prevalence of gastrointestinal diseases drives the gastrointestinal endoscopy market.

Product innovations in gastrointestinal endoscopic devices are a key trend in the gastrointestinal endoscopy market. Major companies operating in the gastrointestinal endoscopy market are introducing advanced endoscopic devices to sustain their position in the market. For instance, in December 2021, Fujifilm Healthcare Americas Corporation, a US-based innovator and manufacturer of endoscopic and endosurgical solutions, launched TRACMOTION, an endoscopic device for endoscopic submucosal dissection (ESD). It is uniquely designed with a 360° rotatable jaw that enables easy grasping and re-grasping of large lesions in the gastrointestinal tract and reduces ESD procedure times. It helps to enhance the clinician's visualization and simplify the lesion extraction process.

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Major Key Players of the Market:

Merck & Co Inc., Medtronic plc, Johnson & Johnson MedTech, FUJIFILM Holdings Corporation, Stryker Corporation, Atrium Health Co, Boston Scientific Corporation, Regeneron Pharmaceuticals Inc., Envaste Limited, Olympus Corporation, Intuitive Surgical Inc., HOYA Corporation, Smith & Nephew Plc, Steris plc, Coloplast AS, Teleflex Incorporated, Cook Group Inc., Karl Storz SE & Co. KG, Ambu A/S, Richard Wolf GmbH, SonoScape Medical Corp., EndoChoice Holdings Inc., Allied Digestive Health LLC, Endogastric Solutions Inc., Micro-Tech Endoscopy Inc., CapsoVision Inc., Medrobotics Corporation, EndoMed Systems GmbH, Motus GI Holdings Inc., Endogene Ltd.

Gastrointestinal Endoscopy Market 2024 Key Insights:

• The gastrointestinal endoscopy market size is expected to see strong growth in the next few years. It will grow to $20.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Gastrointestinal Endoscopy Market Soars Amid Rising Prevalence Of Digestive Disorders
• Gastrointestinal Endoscopy Market Trends Fuelled By Advanced Device Launches
• North America was the largest region in the gastrointestinal endoscopy market in 2023

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