Gastrointestinal Endoscopy Devices Market Size, Share, Trends, Growth Opportunities, and Competitive Intelligence Report 202-2030 | Global Market is Segmented by Product, by Application, by End User, and by Region

Hyderabad, India -- (SBWire) -- 03/01/2023 --Overview:

The market for gastrointestinal endoscopy equipment refers to medical devices used in the diagnosis and treatment of gastrointestinal (GI) problems. Endoscopy is a minimally invasive treatment that uses an endoscope to inspect the inside of the body. Endoscopy equipment are used to inspect the digestive tract, which includes the oesophagus, stomach, and intestines.

Market Size and Future Apprehension:

According to the most recent USD Analytics analysis, the worldwide "Gastrointestinal Endoscopy Devices Market" is expected to grow at a CAGR of 5.10% during the forecast period 2023-2030.

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Market Drivers:

The rise in the prevalence of gastrointestinal disorders is one of the key factors driving the growth of the gastrointestinal endoscopy devices market. According to the World Gastroenterology Organization, more than one billion people worldwide suffer from digestive disorders, and these disorders account for 8.5% of all deaths globally. Gastrointestinal endoscopy devices are used to diagnose and treat a wide range of GI disorders, including gastroesophageal reflux disease (GERD), peptic ulcers, inflammatory bowel disease (IBD), and colorectal cancer. The increasing demand for minimally invasive procedures is also driving the growth of the gastrointestinal endoscopy devices market.

Market Opportunities:

-Advancements in technology:

The rapid advancements in endoscopic technology have paved the way for innovative diagnostic and therapeutic procedures, such as virtual colonoscopy, endoscopic ultrasound, and capsule endoscopy. These advancements have improved the accuracy of diagnosis and treatment, reduced procedure time and patient discomfort, and increased the efficiency of healthcare systems.

-Growing demand for minimally invasive procedures:

The increasing preference for minimally invasive procedures has led to the development of advanced endoscopic devices that enable visualization of the gastrointestinal tract without the need for surgery. This trend is expected to continue, driven by the benefits of minimally invasive procedures, such as reduced hospital stay, faster recovery time, and fewer complications.

Market Challenges:

-High cost of endoscopic devices:

The high cost of endoscopic devices is a major challenge for the gastrointestinal endoscopy devices market. The cost of these devices can be a significant barrier to adoption, particularly in developing countries with limited healthcare budgets.

-Lack of skilled professionals:

The lack of skilled professionals who can perform endoscopic procedures is another challenge for the market. Endoscopic procedures require specialized skills and training, and the shortage of trained professionals can limit the adoption of endoscopic devices.

Segmentation Analysis:

The global Gastrointestinal Endoscopy Devices Market can be segmented based on Product, Application, End User

By Product:
- Endoscopes
- Camera Heads
- Visualization Systems
- Biopsy Devices
- Capsule Endoscopes
- Transmitters and Receivers
- Robot-Assisted Endoscopes

By Application:
- Laparoscopy
- Obstetrics/Gynecology Endoscopy
- Arthroscopy
- Urology Endoscopy
- Bronchoscopy
- Ent Endoscopy
- Mediastinoscopy

By End User:
- Hospitals
- Ambulatory Surgery Centers/Clinics
- Others

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Competitive Landscape:
The following are some of the top participants in the gastrointestinal endoscopy market
- 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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Regional Analysis:

North America dominates the gastrointestinal endoscopy market as hospitals increase their spending in new endoscopic equipment and research initiatives to improve endoscopy. Due to increased health awareness and demand for improved medical technology, Asia-Pacific is predicted to develop at the fastest rate over the forecast period.