Global Gastrointestinal Endoscopy Market - Industry Trends and Forecast to 2029

Gastrointestinal Endoscopy Market Analysis and Size

The market for gastrointestinal endoscopy is expected to grow during forecast period of 2022 to 2029. Endoscopy is a frequent procedure used for a variety of purposes, such as cancer prevention - colonoscopies and sigmoidoscopies enable medical professionals to identify and remove polyps before they develop into colon cancer.

Data Bridge Market Research analyses that the gastrointestinal endoscopy market which was USD 33,480 million in 2021, would rocket up to USD 49843.34 million by 2029, and is expected to undergo a CAGR of 5.10% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Gastrointestinal Endoscopy Market Scope and Segmentation      

Market Definition

Endoscopy is the term used to describe any form of medical operation employing an endoscope. A flexible, thin tube with a camera and light attached at one end makes up an endoscope, an optical device. These tools are used during minimally invasive surgical operations and are immediately introduced into the organ or orifice. The medical gadget is utilised for diagnosis or treatment as a practitioner examines an organ or body cavity for anomalies.

Global Gastrointestinal Endoscopy Market Dynamics

Drivers

• Rising chronic diseases

The elderly people are more prone to both acute and chronic illnesses. As a result, the older demographic base is more likely to adopt endoscopic operations. The number of Americans aged 65 and over was 54.1 million in 2019 and is expected to increase to 94.7 million by the year 2060, according to data from the Administration of Community Living (ACL). Additionally, it is predicted that the rise in the prevalence of chronic diseases would fuel the endoscopy market's expansion throughout the forecast period.

• Increasing demand for minimally invasive procedures

The increased illness burden of endoscopic procedures has been intensified by the rising prevalence of chronic diseases such gastrointestinal problems and mucosal lining cancer. The acceptance of endoscopy for therapeutic and diagnostic purposes has been significantly impacted by the growth in these disorders.

According to the American Cancer Society's most recent reports, about 26,380 new instances of stomach cancer will be reported in 2022, making up 1.5% of all cancer diagnoses. Laparoscopic methods are used by practitioners to determine the severity of the condition. A surgeon can inspect the interior of the belly and pelvis using a minimally invasive procedure called laparoscopy without having to make significant skin incisions. This will boost the market’s growth.

Opportunities

The gastrointestinal endoscopy market's growth is fuelled by an increasing healthcare market in rising economies and advancement in gastrointestinal endoscopic device. This will provide beneficial opportunities for the gastrointestinal endoscopy market growth.

Moreover, increase in the number of emerging markets and new product launches will further provide beneficial opportunities for the gastrointestinal endoscopy market growth during the forecast period.

Restraints/Challenges

• High cost

On the other hand, the high cost of endoscopy procedures, unfavourable healthcare development and limited reimbursement will obstruct the market's growth rate.

However, dearth of skilled physicians and endoscopists in developing countries is among the major factors hampering the endoscopy market share.

This gastrointestinal endoscopy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the gastrointestinal endoscopy market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Gastrointestinal Endoscopy Market

The COVID-19 pandemic had a detrimental effect on the gastrointestinal endoscopy sector. The coronavirus outbreak affected a sizable portion of the global population, which increased the risk of infection fatalities. Numerous nations throughout the world implemented nationwide lockdowns and crises to stop the virus from spreading. The healthcare systems were adversely impacted by the pandemic's increased patient influx and changes in diagnostic techniques. Because they were considered to be non-emergent, endoscopic operations that were scheduled during the pandemic were postponed or delayed. The risk of infection to medical staff and other patients may be elevated since these treatments call for direct patient contact.

Recent Development

• In December 2019, Boston Scientific Corporation announced that the EXALT Model D Single Use Duodenoscope had gained FDA certification. In endoscopic retrograde cholangiopancreatography procedures, the equipment is employed. The FDA has approved the gadget, making it the first and only (disposable) duodenoscope. With the help of clearances like this, the company was able to build a solid clientele and advance its operations.

Global Gastrointestinal Endoscopy Market Scope

The gastrointestinal endoscopy market is segmented on the basis of product type, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Endoscopes
• Camera Heads
• Visualization Systems
• Biopsy Devices
• Capsule Endoscopes
• Transmitters and Receivers
• Robot-Assisted Endoscopes

 Application

• Laparoscopy
• Obstetrics/Gynecology Endoscopy
• Arthroscopy
• Urology Endoscopy
• Bronchoscopy
• Ent Endoscopy
• Mediastinoscopy

End-User

• Hospitals
• Ambulatory Surgery Centers/Clinics
• Others

Gastrointestinal Endoscopy Market Regional Analysis/Insights

The gastrointestinal endoscopy market is analysed and market size insights and trends are provided by country, product type, application and end-user as referenced above.

The countries covered in the gastrointestinal endoscopy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the gastrointestinal endoscopy market due to the rising investments by hospitals to purchase new endoscopic equipment, and growing research activities to enhance endoscopy.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising health awareness among the people and growing demand of advanced medical technology.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Gastrointestinal Endoscopy Market Share Analysis

The gastrointestinal endoscopy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to gastrointestinal endoscopy market.

Some of the major players operating in the gastrointestinal endoscopy market are:

• Intuitive Surgical Inc (U.S.)
• Stryker (U.S.)
• Medrobotics Corporation (U.S)
• Johnson & Johnson Private Limited (U.S.)
• Globus medical (U.S.)
• NuVasive Inc. (U.S.)
• Smith + Nephew (U.K.)
• Titan Medical Inc (Canada)
• TransEnterix Inc (U.S.)
• University of Pittsburgh Medical Center (U.S.)
• Mazor Robotics (Israel)
• Auris Health Inc. (U.S.)
• Corindus Inc. (U.S.)
• Renishaw plc (U.K.)
• Medineering GmbH (Germany)

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