The global Gastrointestinal Devices Market is forecast to reach USD 14.38 Billion by 2028, according to a new report by Reports and Data. The gastroenterology is the branch of medical science pertaining to the health of the digestive system, or the gastrointestinal (GI) tract. The gastrointestinal devices include all the equipment involved in the gastrointestinal procedures, diagnosis, treatment, analysis, testing, and others. Rising incidences of geriatric and pediatric gastroenterological disorders are some of the key reasons the market penetration for the gastrointestinal devices for the gastrointestinal procurement procedures and treatments are increasing year on year. Improving healthcare facilities in the developing regions are effectively helping in the market growth. Medical stores brand outlet is dominating the market but a higher growth rate has been forecasted for the online retailing sub-segment.
The North American market is forecasted to generate the highest revenue of USD 2.58 Billion in the year 2028, owing to its extensive demand for gastrointestinal devices in the hospitals and ambulatory surgery centers. Asia Pacific, with its elevated growth in the healthcare industry and escalating volumes of gastroenterological patients in China, India, and Japan, is likely to achieve a significant market share. China and India are some of the fastest-growing markets, while the United States and Germany hold some of the most prominent players in the market.
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Further key findings from the report suggest
- Online retailing supply of the medical instrument and devices has been trendy in the emerging nations like China and India mainly. Online retailers can offer reduced prices compared to the medical stores and offline vendors due to the non-involvement of the distributor chains in the process. This sub-segment is expected to grow at a CAGR of 8.3% during the forecast period.
- GI Videoscopes or gastrointestinal videoscopes had the market share of 27.5% in 2018, and the CAGR is forecasted to be 7.2% during the period 2019 – 2028. Video gastroscopes, video duodenoscopes, video enteroscopes, Video colonoscopies, Video sigmoidoscope are some of the highly used devices under this sub-segment.
- Ambulatory surgery centers are modern kind of healthcare facility centers, which are focused on providing immediate urological surgical care and releasing the patients right after the surgery. The ambulatory surgery centers have a more convenient alternative to the hospitals based outpatient procedures, maintaining a strong track record of quality care with positive patient outcomes. Ambulatory surgery centers had a market valuation of USD 1.11 Billion in 2018 and is expected to grow fastest at a rate of 10.1% throughout the forecast period. North America, with its vast demand for gastrointestinal devices in both hospitals ambulatory surgical centers sub-segment and escalating volume of geriatric gastroenterological disorders, is accounted to retain its superior position in the global market with a market share of about 35.3% by 2028.
Competitive Outlook of the Global Gastrointestinal Devices Market
The globla Gastrointestinal Devices market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Gastrointestinal Devices market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
Covidien Ltd, Boston Scientific Corporation, Johnson Johnson, CONMED Corporation, Stryker Corporation, Fujifilm Holdings Corporation, Becton, Dickinson and Company, B. Braun Melsungen AG, Medtronic PLC, and Cook Group Incorporated.
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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.
Gastrointestinal Devices Market Segmentation:
Devices Type Outlook (Revenue, USD Billion; 2018-2028)
- GI Videoscopes
- Biopsy Devices
- Endoscopic Retrograde Cholangiopancreatography Devices (ERCP)
- Capsule Endoscopy
- Endoscopic Ultrasound
- Endoscopic Mucosal Resection (EMR)
- Hemostasis Devices
- Others
Sales Channel Outlook (Revenue, USD Billion; 2018-2028)
- Online Retailing
- Medical Stores Brand Outlet
End-Users Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Clinics Dialysis Centers
- Ambulatory Surgical Center
- Others
Geographic Segment Covered in the Report:
The Gastrointestinal Devices report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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