Prevalence Of GI Diseases Is A Key Contributor To The Gastrointestinal Devices Market Growth

Gastrointestinal Devices Market Report 2021 - COVID-19 Growth And Change

Gastrointestinal Devices Global Market Report 2021 – COVID-19 Growth And Change

The Business Research Company’s Gastrointestinal Devices Global Market Report 2021 – COVID-19 Growth And Change

LONDON, GREATER LONDON, UK, October 29, 2021 / — 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 diseases, and 2% to 6% or an estimated 3 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.

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 the hospitals and clinics to shift from reusable duodenoscopes to disposable parts duodenoscopes. The USFDA also approved the duodenoscope model featuring the disposable parts such as the PENTAX Medical ED34-i10T duodenoscope in November 2019, FUJIFILM Corporation duodenoscope model ED-580XT in March 2019, Olympus TJF-Q190V Duodenoscope in January 2020. Olympus TJF-Q190V duodenoscope is used to perform the ERCP procedure with less risk of contamination due to the disposable distal endcap.

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Major players covered in the global gastrointestinal devices industry are Boston Scientific, Medtronic, Fujifilm Holdings Corporation, CONMED Corporation, Stryker Corporation, Johnson and Johnson, Olympus, Cook Group, Becton, Dickinson and Company, B. Braun Melsungen, ETHICON, Karl Storz, Congentix Medical, US Endoscopy, PENTAX Medical.

The global gastrointestinal devices market size is expected to grow from $7.44 billion in 2020 to $7.90 billion in 2021 at a compound annual growth rate (CAGR) of 6.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $11.59 billion in 2025 at a CAGR of 10%.

TBRC’s global gastrointestinal devices market report is segmented by product type into GI videoscopes, biopsy devices, endoscopic retrograde cholangiopancreatography devices (ERCP), capsule endoscopy, endoscopic ultrasound, endoscopic mucosal resection (EMR), hemostasis devices, others, by end users into hospitals, clinics & dialysis centers, ambulatory surgical centers, by sales channel into online retailing, medical stores & brand outlets.

Gastrointestinal Devices Global Market Report 2021 – By Product Type (GI Videoscopes, Biopsy Devices, Endoscopic Retrograde Cholangiopancreatography Devices (ERCP), Capsule Endoscopy, Endoscopic Ultrasound, Endoscopic Mucosal Resection (EMR), Hemostasis Devices), By End Users (Hospitals, Clinics & Dialysis Centers, Ambulatory Surgical Centers), By Sales Channel (Online Retailing, Medical Stores & Brand Outlets), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides gastrointestinal devices market overview, forecast gastrointestinal devices market size and growth for the whole market, gastrointestinal devices market segments, and geographies, gastrointestinal devices market trends, gastrointestinal devices market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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