Product Code: RP-ID-10086063 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10086063
Market Overview:
Global Gastrointestinal Endoscopy Devices Market: Analysis By Product Type 2022-2030
"The global market for gastrointestinal endoscopy device is expected to expand at a CAGR of ~5% during the forecast period 2022-2030. Changes in lifestyle and unhealthy eating habits have resulted in many gastrointestinal (GI) diseases that are expected to drive the market. In addition, the elderly population with long-term diseases such as gastrointestinal diseases is increasing.
The sedentary lifestyle, overweight and tobacco use have led to an increase in the prevalence of colon cancer and rectal cancer. Some factors for the growth of the mirror market. equipment. In addition, awareness of weight continues to increase, especially for women, which has led to the emergence of weight management treatment options, such as banding and bypass surgery, and the use of gastrointestinal endoscopy equipment that is expected to have a positive impact on market growth.
According to different products, gastrointestinal endoscopy equipment is divided into hemostasis equipment, capsule endoscope, gastrointestinal endoscope, biopsy equipment, endoscopic retrograde
cholangiopancreatography (ERCP) equipment and other equipment (stents, polypectomy rings) , Enteral feeding equipment, dilatation balloon, esophagus and anti-reflux device). In 2014, due to the increasing prevalence of gastrointestinal diseases such as ulcers, bowel syndrome and Crohn's disease, as well as the increasing number of testing programs, gastrointestinal endoscopy became one of the highest revenue product segments which in turn will increase patient awareness. GI video endoscope is further subdivided into video gastroscope, video enteroscopy, video duodenoscope, video sigmoidoscopy and video colonoscopy. Capsule endoscopy is expected to show lucrative growth during an estimated seven-year period.
The key factors for its rapid growth include the continuous improvement of patients; awareness of minimally invasive diagnostic procedures, the increasing demand for detailed and effective diagnosis, and the requirement for the shortest recovery time. However, patients’ fear of capsule retention and inhalation and the increased incidence of skin irritation caused by capsule endoscopes are some of the factors hindering market growth.
Geographically, North America, Europe, Asia Pacific, MEA and Latin America are the main regional markets within the scope of the study. In 2020, North America was one of the most promising and revenue-generating regional markets. The key factors leading to their increased participation include increased healthcare expenditures, technological advancements such as flexible masks and wireless capsules, and increased awareness of patents related to early disease diagnosis and minimally invasive diagnostic procedures. However, poor reimbursement policies for imaging procedures, reduced government funds in Europe and the United States, and rising treatment costs are some of the factors that hinder market growth.
The Asia-Pacific region is expected to become the fastest-growing regional market due to factors such as the growth of favorable government initiatives such as the reduction of direct taxes, income tax exemptions and increased depreciation of medical equipment, as well as the expansion of the medical equipment industry. Medical tourism, especially in India, Thailand and Singapore.
THE MAJOR MARKET PLAYERS:
players in the gastrointestinal endoscopy equipment industry are Covidien Ltd., Stryker Corporation, Boston Scientific Corporation, Johnson & Johnson Ltd., Fujinon Ltd. and Conmed Corporation."
Medtronic, Stryker Corporation, Boston Scientific Corporation, CONMED Corporation, Olympus Corporation, Cook Group Incorporated, Fujifilm Holdings, Congentix Medical, US Endoscopy, PENTAX Medical
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