Authored By: Sarah
11 Jul 2024

 Gastroscopes Market Size to grow by USD 366.84 million between 2023-2027

According to a research report “ Gastroscopes Market” by End-user (Hospital, ASCs, Others) Product (Flexible, Rigid) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 366.84 million, at a CAGR of  4.85% during the forecast period. The aging population is disproportionately affected by gastrointestinal disorders, including diverticulosis, bowel diseases, gastrointestinal malignancies, and urinary and fecal-related issues. These conditions are often linked to lifestyle factors such as unhealthy diets and physical inactivity, leading to increased prevalence of high blood pressure, blood glucose, lipids, and obesity. According to the American Cancer Society, an estimated 133,000 new cases of colorectal and rectal cancer are diagnosed annually in the US. Chronic gastrointestinal diseases, including esophageal, colorectal, and rectal cancers, have seen a significant rise in morbidity and mortality rates in recent years. The gastroscopes market is poised to grow due to the increasing demand for diagnostic tools to detect and diagnose these prevalent gastrointestinal disorders.

Browse market data tables, figures, and in-depth TOC on “Gastroscopes Market” by End-user (Hospital, ASCs, Others) Product (Flexible, Rigid) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2027. Download Free Sample

 

By End-user, the Hospital segment is projected to dominate the market size in 2024

Flexible gastroscopes are indispensable medical instruments in gastroenterology, offering superior diagnostic capabilities through their flexible insertion tubes. These advanced endoscopic devices enable gastroenterologists to navigate the complexities of the upper gastrointestinal (GI) tract with ease, providing greater precision and patient comfort during upper GI endoscopy procedures. Flexible gastroscopes provide unobstructed views of the esophagus, stomach, and duodenum, facilitating accurate diagnoses of various GI conditions. Their maneuverability and ability to access hard-to-reach areas make them an essential tool in the field of gastroenterology.

By Product, Flexible  segment is expected to hold the largest market size for the year 2024

In the healthcare industry, gastroscopes play a pivotal role in hospitals' gastroenterology departments, facilitating diagnostic and therapeutic procedures for a range of gastrointestinal (GI) disorders. Advanced endoscopy units, which are common in specialized GI departments, extensively utilize gastroscopes for conducting upper GI endoscopies. This procedure enables healthcare professionals to examine the esophagus, stomach, and duodenum, aiding in the identification of conditions such as gastritis, peptic ulcers, gastroesophageal reflux disease (GERD), Barrett's esophagus, and gastrointestinal cancers. Furthermore, gastroscopes are instrumental in performing biopsies and collecting tissue samples from suspicious areas within the GI tract for subsequent pathological examination, contributing significantly to accurate GI disorder diagnoses.

North America is forecasted to hold the largest market size by region in 2024

In the global gastroscopes market, North America emerged as the leading region in 2022, accounting for the largest share. The region's significant growth can be attributed to its advanced healthcare infrastructure, which facilitates the adoption and utilization of advanced medical technologies, including gastroscopes. The prevalence of gastrointestinal disorders in North America, such as gastroesophageal reflux disease (GERD), peptic ulcers, inflammatory bowel disease (IBD), and gastrointestinal cancers, is a primary driver for the market's expansion. With an aging population and changing dietary habits, the incidence of these disorders continues to rise, leading to a surging demand for gastroscopes to enable early diagnosis and effective management.

The Gastroscopes Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Advin Health Care
  • Arthrex Inc.
  • B.Braun SE
  • Boston Scientific Corp.
  • Carl Zeiss AG
  • Conmed Corp.
  • Endomed Systems GmbH
  • FUJIFILM Corp.
  • HOYA Corp.
  • HUGER Medical Instrument Co. Ltd.
  • Johnson and Johnson
  • KARL STORZ SE and Co. KG
  • LABORIE MEDICAL TECHNOLOGIES CORP.
  • Medtronic Plc
  • Mitra Group
  • Olympus Corp.
  • Richard Wolf GmbH
  • Smith and Nephew plc
  • Stryker Corp.
  • dantschke Medizintechnik GmbH and Co. KG
.

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Research Analysis Overview

Title: Gastroscopes Market: Trends, Growth Drivers, and Future Outlook The global gastroscopes market is witnessing significant growth due to the rising prevalence of digestive abnormalities such as dysphagia, Barrett's esophagus, and cancer cells. Gastroscopy and esophagoscopy have become essential diagnostic procedures for identifying these conditions, making medical devices like gastroscopes and esophagoscopes indispensable in healthcare. The market for gastroscopes is expanding in various sectors, including pediatric healthcare and pet health. Emerging economies are also investing heavily in these medical devices due to increasing healthcare expenditure. Robotics is another emerging trend in the gastroscopes market, with minimally invasive, flexible gastroscopes gaining popularity. Obesity, stomach cancer, Coeliac disease, Gastroesophageal Reflux Disease (GERD), and peptic ulcers are some of the conditions where gastroscopes are used for diagnostic and therapeutic interventional procedures. The market is expected to witness robust methodologies for investment targets and strategic planning, with a focus on restoration costs, cross-contamination prevention, and sterile solutions. Investment decisions in the gastroscopes market are influenced by quantitative analysis, technological advancements, and regulatory requirements. The market is expected to grow at a steady pace in the coming years, with a focus on innovation and minimally invasive procedures.

Market Research Overview

The global gastroscopes market is witnessing significant growth due to the increasing prevalence rate of chronic diseases such as cancer, dysphagia, and digestive abnormalities. Early diagnosis and prevention are key focus areas for health-conscious consumers, leading to an increased demand for advanced endoscopic devices like transnasal gastroscopes and esophagoscopes. The market for gastroscopes includes various types such as rigid gastroscopes, dual channel gastroscopes, video gastroscopes, and therapeutic interventional gastroscopes. Cancer, particularly esophageal and stomach cancer, is a major application area for gastroscopes. The geriatric population and obesity are also driving factors for the market's growth. In emerging economies, the market is expected to grow due to increasing healthcare expenditure and the availability of regulatory approvals. Advanced endoscopes like dual-channel endoscopes and flexible gastroscopes are gaining popularity due to their minimally invasive nature and therapeutic capabilities. Robotics is another emerging trend in the market, with robotically-assisted gastroscopes offering improved precision and control section. Investment targets and decisions in the gastroscopes market are influenced by regulatory variables, macroeconomic variables, and specialized components like sterile solutions and minimally invasive techniques. Other medical devices like bronchoscopes, arthroscopes, and laparoscopic instruments are also relevant to the gastroscopes market. The market for gastroscopes also includes applications in veterinary medicine and pediatric care. Prevention and restoration costs are important considerations for healthcare providers, and cross-contamination is a major concern that requires strict adherence to sterile solutions. Investment in gastroscopes market is expected to continue due to the growing demand for diagnostic procedures and therapeutic interventions for chronic diseases. Strategic planning and robust methodologies are essential for making informed investment decisions.

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Email: media@technavio.com
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