Wilmington, Delaware, Aug. 02, 2023 (GLOBE NEWSWIRE) -- The report titled “Global Gastrointestinal Endoscopy Devices Market” assesses the gastrointestinal endoscopy devices market globally based on the basis of product, end-user, and region. A comprehensive report provides a detailed historical and future market size with trend analysis. RationalStat provides market share analysis, production capabilities of the top companies, Covid-19 impact analysis, competition overview, market strategies, and potential growth areas for the target players.
Market Overview and Dynamics: The rise in the geriatric population with prolonged medical disorders is expected to fuel the expansion of the global gastrointestinal endoscopy devices market in the upcoming years
The global gastrointestinal endoscopy devices market is expected to grow at a CAGR of around 6.8% during the forecast period of 2022-2028. The emergence of sedentary lifestyles and the increased prevalence of alcohol and tobacco are expected to increase the cases of colon and rectum cancer among the global population, which in turn is expected to spur the demand for gastrointestinal endoscopy devices in the upcoming years.
- Robots for various gastrointestinal illnesses, such as robotic capsule endoscopes and autonomous locomotive robotic colonoscopes, are being developed. Endoscopic Submucosal Dissection (ESD) and colonoscopy are the two main areas where robotic endoscopy is being researched because it allows for greater access and flexibility while being less time-consuming.
- Moreover, the increase in disposable income of the population across the globe is expected to shift customers towards minimally invasive treatments, which in turn is expected to spur the growth of gastrointestinal endoscopy devices in the approaching years. However, the growth of the gastrointestinal endoscopy market will be hampered by the high endoscopy procedure costs, limited trained professionals, etc. in the impending years.
- Furthermore, growing weight consciousness, particularly among women, leads to weight-loss treatment options such as banding and bypass surgery, both of which use gastrointestinal endoscopic devices, which is expected to drive market growth.
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Segmental Analysis for the Global Gastrointestinal Endoscopy Devices Market
- Based on end-user, Hospitals hold a dominant share of the gastrointestinal endoscopy devices market, whereas, clinics and others are expected to gain traction in the upcoming years.
- Based on region, North America holds a prominent share of the global gastrointestinal endoscopy devices market owing to the high demand for effective diagnostic tools to address the rising GI disorders.
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Competition Analysis: Robot and AI-assisted gastrointestinal endoscopy devices will propel gastrointestinal endoscopy devices market growth in the upcoming years
Due to the presence of many well-established companies in the global gastrointestinal endoscopy devices market, there is intense competition in the global gastrointestinal endoscopy devices market. The use of computer-aided detection systems (CADe) is expected to boost the demand for gastrointestinal endoscopy devices in the forthcoming years owing to the enhanced accuracy in recognizing precancerous spots.
Acquisitions, product launches, and partnerships are the identified industry trend in the global gastrointestinal endoscopy devices market. Key market players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market.
- In November 2021, Medtronic PLC announced that the US Food and Drug Administration (FDA) has given the PillCamTM Small Bowel 3 system for remote endoscopic treatments 510(k) clearance.
- In June 2021, Cantel Medical, a global provider of infection control products and services to endoscopy, dentistry, dialysis, and life sciences customers, has been acquired by STERIS PLC, as previously stated.
Some of the prominent players that contribute significantly to the global gastrointestinal endoscopy devices market growth include Olympus Corp., B. Braun Melsungen, Boston Scientific Corp., Fujifilm Corp., Johnson & Johnson Services Inc., Smith & Nephew PLC, Stryker Corp., Conmed Corp., Covidien Ltd., Albyn Medical, Hobbs Medical Inc., Jinshan Science & Technology, Leufen Medical GmbH, Telemed Systems Inc., Steris Corp., and Medtronic Plc, among others.
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RationalStat has segmented the global gastrointestinal endoscopy devices market on the basis of product, end-user, and region.
- By Product
- Biopsy Devices
- Capsule Endoscopy Devices
- ECRP Devices
- GI Videoscopes
- Hemostasis Devices
- Reflux Testing System
- Stent Systems
- Others (Dilators etc.)
- By End User
- Hospitals
- Clinics
- Continue!
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Key Questions Answered in the gastrointestinal endoscopy devices Report:
- What will be the market value of the global gastrointestinal endoscopy devices market by 2028?
- What is the market size of the global gastrointestinal endoscopy devices market?
- What are the market drivers of the global gastrointestinal endoscopy devices market?
- What are the key trends in the global gastrointestinal endoscopy devices market?
- Which is the leading region in the global gastrointestinal endoscopy devices market?
- What are the major companies operating in the global gastrointestinal endoscopy devices market?
- What are the market shares by key segments in the global gastrointestinal endoscopy devices market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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