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Gastrointestinal Endoscopic Devices Market Size, Share and Forecast 2021 – 2026

Disorders of the digestive system known as Gastrointestinal (GI) diseases that involve a variety of vital digestive organs such as mouth, esophagus, stomach, small and large bowels, rectum, anus, and GI connected organs (liver, gallbladder, and pancreas).

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Gastrointestinal Endoscopic Devices Market Size, Share and Forecast 2021 – 2026

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  1. Gastrointestinal Endoscopic Devices Market 2021 Globally Size, Regional Analysis, Share, Business Growth and Forecast to 2026

  2. Disorders of the digestive system known as Gastrointestinal (GI) diseases that involve a variety of vital digestive organs such as mouth, esophagus, stomach, small and large bowels, rectum, anus, and GI connected organs (liver, gallbladder, and pancreas). Medical devices such as endoscopes, laparoscopes/surgical endoscopes, endotherapy devices, and laparoscopic devices play an important role in the early & accurate diagnosis and treatment of potentially life-threatening GI diseases, which in turn opens up growth avenues for GI MedTech device manufacturers. The Global Gastrointestinal MedTech Devices Market was valued at $13.7 billion in 2021 and is set to witness a growth rate of 5% in the next 5 years. Some of the key factors driving the global gastrointestinal endoscopic devices market include growing number of GI procedures, increasing preference for minimally invasive surgeries, rising acceptance of single-use devices to prevent patient cross-contamination and ensure patient safety, increasing cases of colorectal cancer and screening mandates in most healthcare systems, rising hospital investments in endoscopy facilities, and benefits of endoscopic procedures. The Recovery of Gastrointestinal Endoscopic Devices Market Post Covid-19 Covid-19 had a detrimental effect on health services globally and the GI MedTech industry was no different.

  3. Covid-19 has a direct impact on a number of specialties, including gastroenterology. The pandemic adversely impacted the workflow and safety of endoscopists, ancillary staff, and patients. Lacks of personal protective equipment (PPE), curtailed patient volume, dearth of testing kits, workforce furloughs, and lockdowns forced units to drastically reduce the volume of the procedures, postpone and even cancel GI procedures in medium- to low-risk cases. The dip in the number of GI procedures resulted in the decline of Gastrointestinal Endoscopic Devices market revenues. Though, since 2021, the Gastrointestinal Endoscopic Devices is on the recovery path. The market has been driven by the strong performance of GI MedTech companies in Japan, Europe, and North America, increased sales of gastroscopes and colonoscopes, the launch of innovative products, strong performance of the GI MedTech device manufacturers in North America, improving Covid-19 coverage globally and increasing number of GI procedures. “A price erosion in Gastrointestinal Endoscopic Devices is expected due to consolidation of group purchasing organizations (GPOs) in different markets and demand of discounts by cash-strapped hospitals in high volume purchases especially due to Covid-19 pandemic.” - Senior Director, Leading Endoscope Manufacturer, United States Explore Premium Report on Gastrointestinal Endoscopic Devices Market @ https://meditechinsights.com/gastrointestinal-endoscopic-devices-market/ The Gastrointestinal MedTech Devices Market is being driven by Technological Advancements The Gastrointestinal Endoscopic Devices market is a technology-driven market and is characterised by constant product enhancements/innovations.

  4. For instance, • In May, 2022, Fujifilm showcased its new endoscopy innovations for the detection, diagnosis, and treatment of diseases at Digestive Disease Week (May 21-24), 2022. The firm showcased its entire portfolio of endoscopic imaging solutions for core gastrointestinal (GI), therapeutic, interventional, and third space endoscopy including ELUXEO® VISION, G-EYE® 700 Series Colonoscopes, El-740D/S Dual-Channel Endoscope, TRACMOTION [Fujifilm’s new device for endoscopic submucosal dissection (ESD)] • “Single-use gastroscopes counter concerns related to the long waiting lists and staff shortages. Ease of setup and elimination of reprocessing are other advantages offered by the system which is expected to drive its adoption.”- Professor, Leading Hospital, United States • United States Expected to Continue to Hold a Major Share in the Gastrointestinal Endoscopic Devices Market • At the moment, the Global Gastrointestinal Endoscopic Devices Market is dominated by the United States. It is expected to continue to hold a major share in the coming years due to the rising number of endoscopic examinations, increasing aging population, favourable reimbursement climate for endoscopy procedures, growth in minimally invasive endoscopic therapy procedures, rising concerns over cleaning, disinfection & sterilization, and higher quality expectations. • Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold • The Global Gastrointestinal Endoscopic Devices Market is noticeable by the presence of both established and new players. Players operating in the Gastrointestinal MedTech Devices market adopt both organic and inorganic growth strategies such as new product launches, and partnerships to garner market share.

  5. For instance, • In February 2022 Motus GI, received FDA Clearance to market the Pure-Vu® EVS System. The new Pure-Vu EVS System improves the speed of set-up, enhances navigation capabilities in tortuous anatomy, builds upon the excellent cleansing capabilities of the Pure-Vu system and enables physicians to rapidly overcome the challenges of poorly prepared colons during a colonoscopy • The increasing cases of GI disorders & requirements for endoscopes, laparoscopes/surgical endoscopes, endotherapy devices, and laparoscopic devices to diagnose and treat GI disorders are expected to drive the growth of the Gastrointestinal Endoscopic Devices Market over the upcoming years • Competitive Landscape Analysis of Gastrointestinal Endoscopic Devices Market • The global gastrointestinal endoscopic devices market is marked by the presence of players such as Olympus, Boston Scientific, Pentax (Hoya), Fujifilm, Cook Medical, Karl Storz, Ethicon, Medtronic, Stryker, Medi-Globe, Ambu, Arthrex, Richard Wolf, ERBE, Micro-Tech, among others. • For More Comprehensive Insights, Contact Us @ https://meditechinsights.com/contact-us/ • About Medi-Tech Insights: • Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Devices & Pharma Services. • Contact Us: • RutaHalde • Associate, Medi-Tech Insights • +32 498 86 80 79 • info@meditechinsights.com

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