Summary
Major players in the gastrointestinal devices market are Boston Scientific, Medtronic, Fujifilm Holdings Corporation, CONMED Corporation, Stryker Corporation, Johnson and Johnson, Olympus, Cook Group, Becton, Dickinson, and Company, and B. Braun Melsungen.
The global gastrointestinal devices market is expected to grow from $9.35 billion in 2021 to $10.05 billion in 2022 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The gastrointestinal devices market is expected to grow to $12.72 billion in 2026 at a CAGR of 6.1%.
The gastrointestinal devices market consists of sales of instruments such as gastroscope, enteroscope, and ultrasound endoscope.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Gastrointestinal devices are used for the diagnosis and treatment of medical conditions related to the digestive system or the gastrointestinal tract.
North America was the largest region in the gastrointestinal devices market in 2022.Asia Pacific was the second largest region in the gastrointestinal devices market.
The regions covered in the gastrointestinal devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main product types of gastrointestinal devices are GI videoscopes, biopsy devices, endoscopic retrograde cholangiopancreatography devices (ERCP), capsule endoscopy, endoscopic ultrasound, and endoscopic mucosal resection (EMR), hemostasis devices, and others.Endoscopic retrograde cholangiopancreatography or ERCP refers to a process of diagnosing and treating problems in the liver, gallbladder, bile ducts, and pancreas.
The various sales channel are online retailing, medical stores, and brand outlets. These are used in hospitals, clinics and dialysis centres, and ambulatory surgical centres.
The increasing prevalence of gastrointestinal diseases contributed to the growth of the gastrointestinal devices market.Gastrointestinal diseases include irritable bowel syndrome, hemorrhoids, perianal abscesses, colon polyps, and cancer, among others.
According to the Endoscopy Centre, every year, 62 million Americans are diagnosed with any of the digestive disease, and 2% to 6% or an estimated three lakhs to 5 lakhs Americans suffer from inflammatory bowel disease (IBD).According to the American College of Gastroenterology estimates, 10-15% of the adult population in the USA suffer from irritable bowel syndrome (IBS) symptoms.
The increased prevalence of gastrointestinal diseases increased the demand for gastrointestinal devices to treat patients, thereby driving the market growth.
High healthcare costs for treating gastrointestinal disease restrain the gastrointestinal devices market.According to the NEJM Journal Watch, a sister publication of the New England Journal of Medicine, the overall healthcare expenditure for the gastrointestinal disease is around $136 billion annually, which is more than heart disease healthcare expenditure ($113 billion), trauma expenditure ($103 billion), mental health expenditure ($99 billion), indicating the high expenses involved in treating gastrointestinal disease.
Moreover, a database analysis by American Gastroenterological Association states that patients with inflammatory bowel diseases (IBDs), chronic liver diseases (CLDs), functional gastrointestinal disorders (FGIDs), gastrointestinal hemorrhage are hospitalized at least once and are high-need and high-cost patients contributing disproportionately to hospitalization costs.In this context, they are the ones who are accessing inpatient services and need immense care due to functional limitations increasing the expenditure.
The high healthcare expenditure for gastrointestinal disease forces the majority population to refrain from receiving treatment in non-emergency cases, which negatively impacts the growth of the gastrointestinal devices market.
Single-use disposable endcap of duodenoscope is increasingly being used to prevent contamination during endoscopic retrograde cholangiopancreatography (ERCP) procedures.Single-use disposable cap controls the infection and preserves the duodenoscope optics.
The USFDA recommended that hospitals and clinics shift from reusable duodenoscopes to disposable parts duodenoscopes.The USFDA also approved the duodenoscope model featuring the disposable parts such as the Olympus TJF-Q190V Duodenoscope in January 2020 and Ambu® aScope™ Duodenoscope in July 2020 .
Olympus TJF-Q190V duodenoscope is used to perform the ERCP procedure with less risk of contamination due to the disposable distal endcap.
For instance, in 2020, Olympus Corporation has announced the acquisition of Arc Medical Design Limited (Arc Medical Design), a subsidiary of Norgine B.V. This acquisition helps Olympus’ commitment to enlarging its offering in gastrointestinal therapeutic devices and the improvement of advanced colonoscopy tools. Norgine is a European-based specialist pharmaceutical company that has been bringing transformative medicines to patients for over a century.
The countries covered in the gastrointestinal devices market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The gastrointestinal devices market research report is one of a series of new reports that provides gastrointestinal devices market statistics, including gastrointestinal devices industry global market size, regional shares, competitors with a gastrointestinal devices market share, detailed gastrointestinal devices market segments, market trends and opportunities, and any further data you may need to thrive in the gastrointestinal devices industry. This gastrointestinal devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
