What Trends and Growth Rates are Forecasted for the Global Gastrointestinal Endoscopy Market?
From a strong growth foundation of $15.82 billion in 2024, the global gastrointestinal endoscopy market size is predicted to reach $16.85 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.5%. This growth, seen predominantly in the historic period, can be attributed to several factors, including the increasing prevalence of gastrointestinal disorders, a rising geriatric population, expanding applications in therapeutic procedures, and favorable reimbursement policies.
Looking towards the future, the market is projected to grow significantly to reach $22.11 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. This robust forecast period growth is anticipated to be driven by rising demand for minimally invasive procedures, significant investment in healthcare infrastructure, growth in the geriatric population, expanding applications in oncology diagnosis, and increasing adoption of capsule endoscopy.
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What are the Key Drivers Behind the Gastrointestinal Endoscopy Market Growth?
The growing incidence of gastrointestinal diseases acts as a primary driver for the gastrointestinal endoscopy market. These diseases impact the gastrointestinal (GI) tract, including all organs involved in digestion and food processing. As endoscopy techniques are used extensively to identify abnormalities, obtain tissue samples for biopsy, and perform therapeutic interventions in diagnosing and treating these diseases, this rise in prevalence propels the gastrointestinal endoscopy market forward.
For instance, the independent cancer research organization, Cancer Research UK, projected in 2023 a 5% increase in the incidence rate of pancreatic cancer in the UK from 2023 to 2025. Correspondingly, a research article published in the Journal of the Canadian Association of Gastroenterology in March 2023, forecasted a rise in the incidence rate of inflammatory bowel disease in Canada from 825 per 100,000 in 2023 to 1075 per 100,000 by 2035.
What Are the Major Segments Within the Global Gastrointestinal Endoscopy Market?
– By Product: Endoscopes, Camera Heads, Visualization Systems, Biopsy Devices, Capsule Endoscopes, Transmitters And Receivers, Robot-Assisted Endoscopes
– By Application: OGIB (Obscure GI Tract Bleeding), Crohn’s Disease, Small Intestine Tumor, Other Applications
– By End User: Hospitals, Ambulatory Surgery Centers Or Clinics, Other End User
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Which Companies are the Major Players in the Gastrointestinal Endoscopy Market?
Prominent players in the gastrointestinal endoscopy market encompass Medtronic plc, Johnson & Johnson MedTech, FUJIFILM Holdings Corporation, Stryker Corporation, Boston Scientific Corporation, Envaste Limited, Olympus Corporation, Intuitive Surgical Inc., HOYA Corporation, Smith & Nephew Plc, Steris plc, Coloplast AS, Teleflex Incorporated, Cook Group Inc., Karl Storz SE & Co. KG, Ambu A/S, Richard Wolf GmbH, SonoScape Medical Corp., EndoChoice Holdings Inc., Allied Digestive Health LLC, Endogastric Solutions Inc., Micro-Tech Endoscopy Inc., CapsoVision Inc., Medrobotics Corporation, EndoMed Systems GmbH, Motus GI Holdings Inc., and Endogene Ltd.
What Are the Emerging Trends in the Gastrointestinal Endoscopy Market?
Emerging trends in the gastrointestinal endoscopy market hinge on innovative endoscopic devices that incorporate advanced imaging technologies. These technologies, such as high-definition imaging, narrow-band imaging (NBI), and optical coherence tomography (OCT), offer clearer and more detailed views of the gastrointestinal tract during endoscopic procedures. An exemplar instance of this trend is the October 2023 launch of the EVIS X1 Endoscopy System by Japan-based manufacturer Olympus Corporation. The EVIS X1 system utilizes advanced imaging technologies to enhance the visualization of the gastrointestinal tract and improve the accuracy of diagnosis and patient outcomes.
Which Region Holds the Largest Share in the Gastrointestinal Endoscopy Market?
In 2024, North America held the largest market share in the global gastrointestinal endoscopy market. The report additionally covers market trends and shares in other significant regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does The Gastrointestinal Endoscopy Global Market Report 2024 Report 2025 Offer?
Gastrointestinal endoscopy, a diagnostic and therapeutic procedure, allows physicians to observe the digestive system through the insertion of a flexible, lighted instrument called an endoscope, either down the throat or through the rectum. Primarily employed to scrutinize the interior of the gastrointestinal (GI) tract, it aims to detect abnormalities and diagnose various conditions.
The Gastrointestinal Endoscopy Global Market Report 2024 research report from The Business Research Company offers a global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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