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Gastrointestinal Endoscopy Market Exclusive Report on the Latest Revenue and Future Scope
According to company's newest research, the global Gastrointestinal Endoscopy Market Size is valued at USD 15.30 billion in 2023 and is predicted to reach USD 23.36 billion by the year 2031 at a 5.64 % CAGR during the forecast period for 2024-2031.
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Recent advancements in endoscopic technology have become indispensable in clinical gastroenterology. Gastrointestinal endoscopy-performed by inserting a long, flexible, illuminated device known as an endoscope through the or throat-enables physicians to evaluate and treat various components of the digestive system, including the esophagus, stomach, small intestine, colon, pancreas, and bile ducts. Modern endoscopic procedures are highly regarded across multiple medical specialties due to their minimal risks, high-resolution imaging capabilities, and rapid execution. Over the past two decades, the application of endoscopy for diagnostic evaluation and screening has expanded significantly, with ongoing innovations further broadening its clinical indications.
The rising demand for single-use endoscopes such as duodenoscopes, gastroscopes, and colonoscopes, the rising demand for capsule endoscopy, and the integration of robotics and artificial intelligence into the industry are among the enormous opportunities in the global gastrointestinal endoscopy market. The development of endoscopes that only need to be used once, the rising demand for minimally invasive procedures, and the increasing number of new products introduced by market players are predicted to contribute to the expansion of the market throughout the forecast period. In addition, the increasing incidence of gastrointestinal disorders is predicted to drive up market demand, and technological developments in endoscopic treatments are forecasted to impact the commercial environment significantly.
Market expansion for gastrointestinal endoscopies will be stymied by factors such as the high price of procedures, unfavourable healthcare trends, and inadequate reimbursement. Nonetheless, the gastrointestinal endoscopy market will have several opportunities for growth throughout the forecast period because of the growing healthcare markets in developing countries and the advancement of gastrointestinal endoscopic technologies.
North America held the largest revenue share in 2021. The introduction of Innovative endoscopic equipment will boost industry growth in North America. In addition, the increasing prevalence of gastrointestinal illnesses, cancer, and other chronic conditions, as well as the rising demand for slightly invasive procedures, will increase North America's global market share.
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The key players operating in gastrointestinal endoscopy Market are Boston Scientific Corporation, Medtronic plc, KARL STORZ SE & Co. KG, Ambu A/S, Teleflex Incorporated, HOYA Corporation, Olympus Corporation, FUJIFILM Holdings Corporation, Cook Group Inc, SonoScape Medical Corp., EndoMed Systems GmbH, CapsoVision, Inc., HuiZhou Xzing Technology Co., Ltd., Endogene Ltd., Envaste Limited and other prominent players of the market.
Key Market Developments:
• In Aug 2022, Medtronic announced that the GI GeniusTM intelligent endoscopy module, powered by artificial intelligence (AI), is now available. The module is a game-changing solution that uses deep learning algorithms and real-time data. It helps doctors find and treat colorectal cancer by giving them a better view of the colon during a colonoscopy.
• In Mar 2022, Fujifilm will work with Gastro Care Partners to bring the best endoscopic imaging solutions to GI practices in Colorado. Peak Gastroenterology Associates, which is part of the GCP network and is the largest gastroenterology practise in southern Colorado, has installed Fujifilm's GI portfolio, which includes the 700 Series Colonoscopes and the ELUXEO Endoscopic Imaging System, in its Colorado Springs-based Front Range Endoscopy Center and Surgical Center of Peak Endoscopy.
• In Feb 2022, Ambu announced that the FDA approved their Ambu® aScopeTM Gastro and Ambu® aBoxTM 2 Single-Use Gastroscope and Next-Generation Display Unit. Ambu's solution is a good choice for customers who want to do gastroscopies in a wide range of care settings because of its advanced technology, portability, and low cost. This is because reusable endoscopes have some problems that this solution solves.
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Market Segmentation
Global Gastrointestinal Endoscopy Market, by Type, 2022-2030 Value (US$ Mn) and Volume (No. of Units)
1. Gastrointestinal Endotherapy
• ERCP Devices
• Gastrointestinal Stents
o Esophageal Stents
o Biliary Stents
o Pancreatic Stents
• Balloon Dilators
• Ultrasound Endoscopes
• Biopsy Devices
o Biopsy Forceps
o Polypectomy Snares
o Other Biopsy Devices
• Hemostasis Devices
• Retrieval Devices
• Others
2. Gastrointestinal Endoscopes and Endoscopic Systems
• Gastrointestinal Videoscopes
o Gastroscopes
o Colonoscopes
o Duodenoscopes
o Sigmoidoscopes
o Enteroscopes
o Anoscopes
• Visualization Systems
• Capsule Endoscopes
Global Gastrointestinal Endoscopy Market, by End-User, 2022-2030 Value (US$ Mn) and Volume (No. of Units)
• Hospitals
• Ambulatory Surgery Centers
• Others
Global Gastrointestinal Endoscopy Market, by Region, 2022-2030 Value (US$ Mn) and Volume (No. of Units)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Gastrointestinal Endoscopy Market, by Country, 2022-2030 Value (US$ Mn) and Volume (No. of Units)
• U.S.
• Canada
Europe Gastrointestinal Endoscopy Market, by Country, 2022-2030 Value (US$ Mn) and Volume (No. of Units)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Gastrointestinal Endoscopy Market, by Country, 2022-2030 Value (US$ Mn) and Volume (No. of Units)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Gastrointestinal Endoscopy Market, by Country, 2022-2030 Value (US$ Mn) and Volume (No. of Units)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Gastrointestinal Endoscopy Market, by Country, 2022-2030 Value (US$ Mn) and Volume (No. of Units)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global gastrointestinal endoscopy market
To receive an industry overview and future trends of the gastrointestinal endoscopy market
To analyze the global gastrointestinal endoscopy market drivers and challenges
To get information on the global gastrointestinal endoscopy market size value (US$ Mn) and volume (No. of Units) forecast to 2031
To get information on investments, mergers & acquisitions in the global gastrointestinal endoscopy industry
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