(EMAILWIRE.COM, June 13, 2019 ) Global Gastrointestinal Endoscopy Market is registering a CAGR of 5.34% during the forecast period 2019 to 2025. Growing population coupled with the increased in gastrointestinal diseases such as stomach ulcer and colon cancer are driving the demand. The rise in monitoring and visualization of the small intestine, large intestine, colon, and stomach are also driving the demand.
Increased awareness among the customers towards the minimally invasive procedures is boosting the demand for gastrointestinal endoscopes. Technological
advancements such as capsule endoscopes are creating growth opportunities that are fuelling market growth.
Risks and complications such as pain persist, infections, and side effects are challenging market growth. Further, the unavailability of expert medical professionals dealing with gastrointestinal endoscopes is restraining the market size.
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End-user industry segmentation:
Among the end-user industries of gastrointestinal endoscopes, hospitals dominate among the others registering a CAGR of 3.37% during the forecast period 2019 to 2025.
Presence of expert medical professionals operating with the endoscopy devices is driving the demand. Approval of medical insurance and reimbursements are offered by insurance companies and government are boosting the market size. Availability of a wide range of facilities in hospitals is fuelling the market growth. Increased investments on establishments of new hospitals coupled with increased endoscopic devices are anticipating the demand. Increased government funding on the betterment of hospitals is expected to provide growth opportunities.
High cost incurred with gastrointestinal endoscopy treatments and lack of awareness among the customers is limiting the market size.
Further, end-user industries of gastrointestinal endoscopy market are segmented into clinical centres and others.
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North America leads the global gastrointestinal endoscopy market owing to growing ageing population coupled with the increase of diseases such as stomach ulcer, colon cancer, and other GI disorders. Rising investments in medical and healthcare industries by governments have a positive impact on boosting the market size. Increased disposable income and awareness among the customers tend to move towards the minimally invasive endoscopy treatments associated with fewer cuts, scars, recovery time, and accurate results.
High cost incurred and risk and complications linked with the endoscopy treatments are hampering the growth of market size.
Further, regional analysis is analysed for countries across the Asia Pacific, Europe, South & Central America, and Middle East & Africa.
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Key players operating in the gastrointestinal endoscopy market are Olympus Corporation, Karl Storz GmbH & Co KG., B. Braun Melsungen AG, Stryker Corporation, and Boston Scientific Corporation, Ethicon, Inc. (Johnson & Johnson), Fujifilm Holding Corporation, Medtronic PLC, PENTAX Medical (Hoya Corporation), and Smith & Nephew PLC.
Launch of new innovative products, mergers, acquisitions and collaborations are the key strategies adopted by key players in the market.
On March 2019, Olympus developed an open platform for AI-assisted endoscopic examinations of areas such as the stomach, colon, and oesophagus.
On March 2018, Boston Scientific acquired EMcision to expand its gastrointestinal endoscopy offerings.
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