Gastroenterology Devices Market: Global Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Gastroenterology Devices Market: By Product Type (Endoscopy Devices, Ostomy Products, Enteral Feeding Pumps, Bariatric Surgery Devices, and Others), By End-User (Hospitals, Clinic, and Others), and Geography

 

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Report

Description

Gastroenterology Devices Market Size is anticipated to be valued at USD 9,7438.2 million in 2021 and is expanded to grow at a significant CAGR of 8.3% over 2022-2028. The market for gastroenterology devices grew due to the rising prevalence of gastrointestinal illnesses. The gastroenterology devices market is also driven by rising demand for minimally invasive surgery and new technological advancements. Gastrointestinal diseases have increased due to changing lifestyles combined with improper eating habits, which is projected to enhance the market. Furthermore, a growing geriatric population with long-term medical issues such as Gastrointestinal illnesses and an increase in the prevalence of colon and rectum cancer due to sedentary lifestyles, obesity, and cigarette use are driving the expansion of the gastroenterology devices market. The funds will be used to continue research and development activities for new products and indications, gather evidence on device capabilities, establish a network of centers of excellence, and grow and strengthen the gastrointestinal devices industry. The product segment for gastrointestinal devices is now led by endoscopy devices. Increased demand for minimally invasive surgery, such as laparoscopy, and recent technology advancements in gastrointestinal videography technologies are driving endoscopic device supremacy. Endoscopic equipment for diagnosing and treating gastrointestinal diseases includes capsule endoscopes, hemostatic devices, endoscopic retrograde cholangiopancreatography devices, and biopsy devices, among others.

Recent Market Developments:

In April 2022, Olympus, a global technology leader in designing and delivering innovative solutions for medical and surgical procedures, announced a strategic distribution agreement with EndoClot® Plus, Inc. (EPI). EPI technologies complement Olympus’ leading portfolios in GI endoscopy and the company’s overall medtech strategy. EPI technologies provide new options in the fast-growing hemostasis space as well as providing an important addition to the Olympus portfolio supporting EMR and ESD, procedures

In March 2021, Cardinal Health announced that it has signed a definitive agreement to sell its Cordis business to Hellman & Friedman (H&F) for approximately $1 billion, which includes buyer’s assumption of certain liabilities and seller’s retention of certain working capital accounts.

Gastroenterology Devices Market

MARKET SUMMARY
-
8.3%
  • Study Period– 2022-2028
  • Base Year– 2021
  • CAGR– 8.3%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market– North-America

Gastroenterology Devices Market

  • The gastroenterology devices market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The gastroenterology devices market is segmented based on product type, end-user, and geography.
Key Players
  • Covidien Ltd.
  • Cardinal Health
  • Braun Melsungen AG
  • CONMED Corporation
  • Boston Scientific Corporation
Gastroenterology Devices Market

Dynamics

The gastroenterology devices market is growing due to technological advancements in endoscopes and bariatric surgery equipment and increasing demand for minimally invasive surgical treatments. Moreover, favorable FDA approvals & reimbursement policies pertaining to endoscopy devices in developed economies surge in patient preference for minimally invasive surgeries are expected to drive the market. High healthcare costs for treating gastrointestinal diseases restrain the gastroenterology devices market.


North-America Got Significant Share

Gastroenterology Devices Market

In 2021, North America had the maximum share of the gastrointestinal devices market. Key factors attributing to its largest share include increasing healthcare expenditure, technological advancements such as flexible scopes and wireless capsules, and rising patent awareness levels pertaining to early disease diagnostics & advantages associated with minimally invasive diagnostics procedures. The Asia Pacific was the second largest region in the global gastroenterology devices market during the forecast period.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Gastroenterology Devices Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The Gastroenterology Devices Market is projected to expand at a CAGR of 8.3% during the forecast period.

Braun Melsungen AG, Boston Scientific Corporation, Cardinal Health, Covidien Ltd.

Asia-Pacific is the fastest-growing region for Gastroenterology Devices Market


Report

Company Profile

  • Braun Melsungen AG
  • Boston Scientific Corporation
  • Cardinal Health
  • Covidien Ltd.
  • CONMED Corporation
  • Fujifilm
  • Johnson and Johnson
  • Karl Storz GmbH and Co. KG.
  • Olympus Corporation
  • Stryker Corporation,

Description

Gastroenterology Devices Market Size is anticipated to be valued at USD 9,7438.2 million in 2021 and is expanded to grow at a significant CAGR of 8.3% over 2022-2028. The market for gastroenterology devices grew due to the rising prevalence of gastrointestinal illnesses. The gastroenterology devices market is also driven by rising demand for minimally invasive surgery and new technological advancements. Gastrointestinal diseases have increased due to changing lifestyles combined with improper eating habits, which is projected to enhance the market. Furthermore, a growing geriatric population with long-term medical issues such as Gastrointestinal illnesses and an increase in the prevalence of colon and rectum cancer due to sedentary lifestyles, obesity, and cigarette use are driving the expansion of the gastroenterology devices market. The funds will be used to continue research and development activities for new products and indications, gather evidence on device capabilities, establish a network of centers of excellence, and grow and strengthen the gastrointestinal devices industry. The product segment for gastrointestinal devices is now led by endoscopy devices. Increased demand for minimally invasive surgery, such as laparoscopy, and recent technology advancements in gastrointestinal videography technologies are driving endoscopic device supremacy. Endoscopic equipment for diagnosing and treating gastrointestinal diseases includes capsule endoscopes, hemostatic devices, endoscopic retrograde cholangiopancreatography devices, and biopsy devices, among others.

Recent Market Developments:

In April 2022, Olympus, a global technology leader in designing and delivering innovative solutions for medical and surgical procedures, announced a strategic distribution agreement with EndoClot® Plus, Inc. (EPI). EPI technologies complement Olympus’ leading portfolios in GI endoscopy and the company’s overall medtech strategy. EPI technologies provide new options in the fast-growing hemostasis space as well as providing an important addition to the Olympus portfolio supporting EMR and ESD, procedures

In March 2021, Cardinal Health announced that it has signed a definitive agreement to sell its Cordis business to Hellman & Friedman (H&F) for approximately $1 billion, which includes buyer’s assumption of certain liabilities and seller’s retention of certain working capital accounts.

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