Gastrointestinal Bleeding Treatment Market by Product and Geography - Forecast and Analysis 2022-2026

The gastrointestinal bleeding treatment market share is expected to increase by USD 188.19 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.63%.

This gastrointestinal bleeding treatment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers gastrointestinal bleeding treatment market segmentation by product (endoscopic mechanical devices, endoscopic thermal devices, and others) and geography (North America, Europe, Asia, and Rest of World (ROW)). The gastroenterology market size report also offers information on several market vendors, including Boston Scientific Corp., Conmed Corp., Cook Group Inc., EndoClot Plus Inc., Erbe Elektromedizin GmbH, Mayo Foundation for Medical Education and Research, Medtronic Plc, Olympus Corp., OVESCO ENDOSCOPY AG, STERIS Plc, and University Hospitals among others.

What will the Gastrointestinal Bleeding Treatment Market Size be During the Forecast Period?

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Gastrointestinal Bleeding Treatment Market: Key Drivers, Trends, and Challenges

The favorable initiatives and increasing prevalence of gastrointestinal diseases is notably driving the gastrointestinal bleeding treatment market growth, although factors such as high treatment costs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the gastrointestinal bleeding treatment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Gastrointestinal Bleeding Treatment Market Driver

One of the key factors driving the global gastrointestinal bleeding treatment market growth is the favorable initiatives and increasing prevalence of gastrointestinal diseases. The increasing prevalence of esophageal, colorectal, gastric cancers, and colon polyps will further augment the growth of the market. For instance, as per the CDC, about 3.5 million adults were screened for colorectal cancer in 2018. Similarly, awareness about GI bleeding increased among physicians and patients has increased over the last few years.  In addition, various countries such as the US, Germany, and the UK have implemented screening initiatives. Moreover, governments, private institutions, and leading vendors have intensified their awareness campaigns for gastrointestinal diseases. For instance, Olympus, a key market vendor, has designated the month of March every year as Colon Cancer Awareness Month and organizes various awareness programs. Such factors will boost the market growth in the forecast period.

Key Gastrointestinal Bleeding Treatment Market Trend

Funding for GI research studies and endoscopic devices is one of the key gastrointestinal bleeding treatment market trends that is expected to impact the industry positively in the forecast period. For instance, in 2019, the American College of Gastroenterology (ACG), Institute for Clinical Research and Education awarded USD 1,007,420 to support clinical research in gastroenterology. In 2017-2018, the National Institute for Health Research (NIHR) invested USD 17.89mn in research studies on gastrointestinal conditions. In addition, in June 2019, the National Science Foundation (NSF), an independent federal agency created by Congress, granted an award of USD 225,000 for the Small Business Innovation Research (SBIR) Phase I project, for clinical needs of tissue approximation and closure of large gastrointestinal defects in endoscopic surgeries by developing image-guided, full-thickness suturing devices. Such factors will further support the market growth in the coming years.

Key Gastrointestinal Bleeding Treatment Market Challenge

One of the key challenges to the global gastrointestinal bleeding treatment market growth is the high treatment costs. This makes market penetration difficult, especially in price-sensitive markets such as developing and emerging economies. Even in developed countries, small hospitals and private physician's clinics may not opt for endoscopic kits due to budget constraints. Equipment maintenance is another factor that adds to the financial burden of end-users. Surgeons in developing and emerging countries are still reluctant to choose endoscopic surgeries owing to their high price. Advances in endoscopic procedures have increased the prices of endoscopic systems, making treatments unaffordable for most patients in developing economies. The high cost of the procedure and lack of reimbursement in developing economies will hamper the growth of the market during the forecast period.

This gastrointestinal bleeding treatment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global gastrointestinal bleeding treatment market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the gastrointestinal bleeding treatment market during the forecast period.

Who are the Major Gastrointestinal Bleeding Treatment Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Boston Scientific Corp.
• Conmed Corp.
• Cook Group Inc.
• EndoClot Plus Inc.
• Erbe Elektromedizin GmbH
• Mayo Foundation for Medical Education and Research
• Medtronic Plc
• Olympus Corp.
• OVESCO ENDOSCOPY AG
• STERIS Plc
• University Hospitals

 

This statistical study of the gastrointestinal bleeding treatment market encompasses successful business strategies deployed by the key vendors. The gastrointestinal bleeding treatment market is fragmented and the vendors are deploying growth strategies such as investment in research and development (R and D) to compete in the market.

Product Insights and News

• Boston Scientific Corp. - The company offers gastrointestinal bleeding treatment that includes polypectomy, retrieval devices band ligator, clips, endoluminal surgery devices, enteral access and feeding tubes, fiducial markers, forceps, guidewires. 
• Boston Scientific Corp. - In January 2021, the company announced that it had entered into a definitive agreement to acquire Preventice Solutions Inc. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The gastrointestinal bleeding treatment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Gastrointestinal Bleeding Treatment Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the gastrointestinal bleeding treatment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Gastrointestinal Bleeding Treatment Market?

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42% of the market's growth will originate from North America during the forecast period. The US is the key market for gastrointestinal bleeding treatment in North America. Market growth in this region will be faster than the growth of the market in Europe and ROW.

The high adoption of technology, increasing prevalence and incidences of GI diseases, growing geriatric population, and the growing presence of prominent vendors that develop endoscopic devices will facilitate the gastrointestinal bleeding treatment market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

However, in 2020, the outbreak of the COVID-19 pandemic mainly impacted the market in the US, which resulted in a decline in the growth rate of the market due to the implication of lockdowns and altered international trading. However, with the onset of vaccination drives in 2021, the market is expected to regain growth during the forecast period

What are the Revenue-generating Product Segments in the Gastrointestinal Bleeding Treatment Market?

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The gastrointestinal bleeding treatment market share growth by the endoscopic mechanical devices segment will be significant during the forecast period. The growth is attributed to the high demand for endoscopic mechanical devices due to the increase in usage of these devices for the treatment of bleeding in the upper GI tract, as well as the increased preference for minimally invasive surgeries. This segment sees continuous product improvements and enhancements as well as the introduction of innovative products by vendors.

This report provides an accurate prediction of the contribution of all the segments to the growth of the gastrointestinal bleeding treatment market size and actionable market insights on post COVID-19 impact on each segment.

 

Gastrointestinal Bleeding Treatment Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.63%
Market growth 2022-2026	$ 188.19 million
Market structure	Fragmented
YoY growth (%)	3.73
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 42%
Key consumer countries	US, Germany, UK, China, and Japan
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Boston Scientific Corp., Conmed Corp., Cook Group Inc., EndoClot Plus Inc., Erbe Elektromedizin GmbH, Mayo Foundation for Medical Education and Research, Medtronic Plc, Olympus Corp., OVESCO ENDOSCOPY AG, STERIS Plc, and University Hospitals
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Gastrointestinal Bleeding Treatment Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive gastrointestinal bleeding treatment market growth during the next five years
• Precise estimation of the gastrointestinal bleeding treatment market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the gastrointestinal bleeding treatment industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of gastrointestinal bleeding treatment market vendors

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