Gastrointestinal Endoscopic Devices Market Size, Share & Trends Report

Gastrointestinal Endoscopic Devices Market Size, Share & Trends Analysis Report By Product, By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

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  • Report ID: GVR1504
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The global gastrointestinal endoscopic devices market is anticipated to witness growth over the forecast period. Changing lifestyle coupled with unhealthy eating habits has given rise to numerous gastrointestinal (GI) disorders which is expected to boost the market. Additionally, growing geriatric population with long term medical conditions such as GI disorders and increasing prevalence of colon & rectum cancer due to sedentary lifestyle, overweight & tobacco consumption are few factors driving the growth of gastrointestinal endoscopic devices market. Furthermore, growing weight consciousness especially among women leads to weight management treatments options such as banding and bypass surgery which utilize gastrointestinal endoscopic devices which is expected to positively reinforce market growth.

On the basis of products gastrointestinal endoscopic devices are segmented into hemostatis devices, capsule endoscopes, GI videoscopes, biopsy devices, endoscopic retrograde cholangiopancreatography devices (ERCP) and others (stents, polypectomy snares, enteral feedin devices, esophageal dilation balloons and anti reflux devices). In 2014, GI videoscopes were one of the highest revenue generating product segments owing to the factors such as rising predominance of gastrointestinal disorders such as ulcer, bowel syndrome, & crohn’s diseases and growing screening initiatives that in turn will increase patient awareness. GI videoscopes are further segmented into video gastroscopes, video enteroscopes, video duodenoscopes, video sigmoidoscopes and video colonoscopies. Capsule endoscopes are expected to witness lucrative growth over the estimated period of seven years. Key factors attributing to its rapid growth include increasing patient awareness regarding minimally invasive diagnostic procedure, growing demand for detailed & effective diagnosis and requisition for minimal recovery time. However, fear amongst patient regarding capsule retention & capsule aspiration and growing incidences of skin irritation due to capsule endoscopy are some factors hindering the market growth.

Geographically, North America, Europe, Asia Pacific, MEA and Latin America are key regional markets included in the scope of study. In 2014, North America was one of the most promising and revenue generating regional market. Key factors attributing for its largest share include increasing healthcare expenditure, technological advancement such as flexible scopes and wireless capsules and rising patent awareness levels pertaining early disease diagnostics & advantages associated with minimally invasive diagnostics procedures. However, poor reimbursement policies for imaging procedures, reduction in government funding in various nations such as Europe and U.S. and rising cost of treatment are few factors impeding market growth. Asia Pacific is anticipated to be the fastest growing regional market owing to the factors such as growing favorable government initiative like lower direct taxes, income tax exemption & higher depreciation on medical equipment and expansion of medical tourism industries especially in India, Thailand and Singapore. 

Major market players in gastrointestinal endoscopic devices industry are Covidien Ltd., Stryker Corporation, Boston Scientific Corporation, Johnson & Johnson Ltd., Fujinon Ltd and Conmed Corporation.

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