Gastrointestinal Devices Market Overview
Gastrointestinal Disease affects the GI (gastrointestinal tract) the passage which runs from mouth to anus. Acid reflux, irritable bowel syndrome, colon cancer, indigestion and hemorrhoids are the common gastrointestinal disorders. Gastrointestinal devices help in detecting the lining and disorders of gastrointestinal tract.
Unhealthy lifestyle such as consumption of processed and fast-food, lack of exercise and sedentary lifestyle has given rise in gastrointestinal diseases which in turn, facilitate the market growth. Advancement in technology with innovation in medical devices and growing acquisitions and collaboration of companies is expected to boost the demand for Gastrointestinal Devices market growth.
Attributes |
Details |
Gastrointestinal Devices Market Value (2022) |
US$ 228.3Bn |
Gastrointestinal Devices Market Projected Value (2032) |
US$ 680.6Bn |
Gastrointestinal Devices Market CAGR (2022 – 2032) |
11.5% |
Gastrointestinal Devices Market Dynamics
Growing Prevalence of Digestive Diseases to Fuel Market Growth
Growing prevalence of digestive diseases in population across globe has become the leading factor in market growth. High consumption of fast food, processed food, physical inactivity and adoption of sedentary lifestyle has given rise in digestive diseases such as chronic constipation, gastrointestinal infections, gastroesophageal reflux disease, hemorrhoids, irritable bowel syndrome, Crohn’s disease, inflammatory bowel disease and others which in turn, has provided lucrative opportunities in Gastrointestinal Devices market growth.
For instance, according to NIH (National Institute of Diabetes and Digestive and Kidney Diseases), the statistics of digestive diseases for United States are, around 60 to 70 million people are affected all digestive diseases in U.S. Crohn’s disease affected around 611 deaths and hospitalization of 1,87,000 individual in 2010. Gastroesophageal reflux disease causes mortality rate of 1,653 deaths and hospitalization of 4.7 million people in 2010.
Restrains of Gastrointestinal Devices Market:
However, lack of trained physicians & endoscopists and infections caused by few endoscopes hampered growth of the Gastrointestinal Devices market.
Gastrointestinal Devices Market Segmentation
Gastrointestinal Devices Market is segmented based on Product Type, End-Users and Region.
Product Type Insight
On the basis of Product Type, Gastrointestinal Devices Market is segmented into GI Accessories, GI Instruments, GI Endoscopes. GI Endoscopes product type segment is expected to dominate the target market growth. It is widely used in detecting gastrointestinal disorders such as, narrowing or blockages, GERD (gastroesophageal reflux disease), inflammation & sores and esophageal varices is likely to propel segment growth.
End-Users Insights
On the basis of End-Users, Gastrointestinal Devices Market is segmented into Hospitals, Ambulatory Surgical Centers, Others. Hospitals has dominated the target market because it deals with complete diagnosis and treatment by providing all facilities under one roof.
Regional Insights:
On region the Gastrointestinal Devices Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period. This is mainly attributed due to adoption of advanced technology, its well-established healthcare infrastructure, increase in geriatric population, and rise in prevalence of gastrointestinal & abdominal diseases in the region. The U.S. holds for largest revenue share within North America. This is mainly attributed due to growing demand for laparoscopies and colonoscopies in the U.S. along with rising prevalence of colorectal cancer. According to a report by American Cancer Society in 2019, colorectal cancer is the third most frequently diagnosed cancer, with 101,420 new cases expected to be recorded. Moreover, strong presence of domestic manufacturers and increasing awareness about advantages of endoscopy also contributes to the region’s leading revenue share.
Report Scope:
Attribute |
Details |
Base year for estimation |
2021 |
Forecast period |
2022 – 2032 |
Market representation |
Revenue in USD Billion & CAGR from 2022 to 2032 |
Market Segmentation |
By Product Type - GI Accessories, GI Instruments, GI Endoscopes By End-Users - Hospitals, Ambulatory Surgical Centers, Others |
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Gastrointestinal Devices Market report based on Product Type, End-Users and Region:
Gastrointestinal Devices Market, By Product Type:
- GI Accessories
- GI Instruments
- GI Endoscopes
Gastrointestinal Devices Market, By End-Users:
- Hospitals
- Ambulatory Surgical Centers
- Others
Gastrointestinal Devices Market, By Region:
-
-
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- North America
-
Gastrointestinal Devices Market Key Players
he key players operating the Gastrointestinal Devices Market includes, Johnson & Johnson Ltd., Boston Scientific Corporation, Medtronic plc., FUJIFILM, Stryker Corporation, Karl Storz, Olympus Corporation, Conmed Corporation, B. Braun Melsungen, Covidien Ltd., and others.
Gastrointestinal Devices Market Key Issues Addressed
- In January 2023, Fujifilm expanded its endoscopy solutions portfolio with launch of ‘FushKnife’ and ‘ClutchCutter’ at annual conference of ‘Indian Society of Gastroenterology-ISGCON’, Jaipur. The new launched FlushKnife allows to carry out flushing, incision, coagulation, marking and dissection. ClutchCutter supports in making dissections, incisions and coagulation.
- In May 2023, Olympus Corporation announced the clearance by U.S. FDA (Food and Drug Administration) for its new ‘EVIS X1’ endoscopy system with two gastrointestinal endoscopes such as ‘CF-HQ1100DL/I colonvideoscope for lower digestive tract and ‘GIF-1100’ gastrointestinal videoscope for upper digestive tract system.
Gastrointestinal Devices Market Company Profile
Company Profile:
- Johnson & Johnson Ltd.*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Boston Scientific Corporation
- Medtronic plc.
- FUJIFILM
- Stryker Corporation
- Karl Storz
- Olympus Corporation
- Conmed Corporation
- B. Braun Melsungen
- Covidien Ltd.
“*” marked represents similar segmentation in other categories in the respective section
FAQs
The Gastrointestinal Devices Market is segmented into Product Type, End-Users and Region.
Gastrointestinal Devices Market is driven by factors like growing prevalence of digestive diseases.
By region, the Gastrointestinal Devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
The key players operating the Gastrointestinal Devices Market includes, Johnson & Johnson Ltd., Boston Scientific Corporation, Medtronic plc., FUJIFILM, Stryker Corporation, Karl Storz, Olympus Corporation, Conmed Corporation, B. Braun Melsungen, Covidien Ltd., and others.
Gastrointestinal Devices Market accounted for US$ 228.3 billion in 2022 and is estimated to be US$ 680.6 billion by 2032 and is anticipated to register a CAGR of 11.5%.