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The global gastroscopes market size is estimated to grow by USD 366.84 million at a Compound annual growth rate (CAGR) of 4.85% between 2022 and 2027.
Due to the growing prevalence of gastrointestinal disorders such as diverticulosis, intestinal diseases, gastrointestinal malignancies, and urinary and fecal problems, they pose significant challenges to the health care system. Thus endoscopic procedures play an important role in early detection, effective management, and prevention. Gastroscopy in the diagnosis and treatment of these conditions. Gastroscopy enables healthcare providers to identify abnormalities, perform biopsies, and perform therapeutic interventions. Hence, early detection of digestive disorders is expected to propel the growth of the global gastroscopy market during the forecast period.
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This report provides a detailed analysis of the market by End-user (Hospital, ASCs, and Others ), Product (Flexible and Rigid ), and Geography (North America, Europe, Asia, and Rest of World (ROW)).
The market share growth by the hospital segment will be significant during the forecast period. Gastroscopes are commonly used in hospitals to perform various diagnostic and therapeutic procedures related to gastrointestinal (GI) disorders. A gastrointestinal endoscopy procedure is needed to diagnose many gastrointestinal conditions, including gastritis, peptic ulcers, gastroesophageal reflux disease (GERD), Barrett's esophagus, and gastrointestinal cancer.
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The hospital segment was valued at USD 604.42 million in 2017. Hospitals also depend on gastroscopes to perform therapeutic procedures. Gastroenterologists use them to treat conditions like bleeding ulcers, remove polyps, dilate strictures, and manage other gastrointestinal abnormalities. These minimally invasive procedures offer patients effective treatment options with shorter recovery times. Considering the wide range of gastrointestinal conditions encountered in the hospital, the demand for gastroscopy is high, which is expected to boost the growth of the global gastroscope market in the hospital segment during the forecast period.
The flexible gastroscope is an essential and commonly used medical instrument in the field of gastroenterology. The main benefit of the flexible gastroscope is its ability to access different parts of the upper gastrointestinal tract, including the esophagus, stomach, and duodenum, without much discomfort to the patient. The insert can be smoothly maneuvered, providing a clear view of the internal structure and assisting in the diagnosis of various gastrointestinal conditions. The flexible gastroscope is equipped with a high-quality camera at the tip, which captures real-time high-definition images of the digestive tract. These images are displayed on a screen, allowing the endoscopist to view and examine the mucosa, identify abnormalities, and detect conditions such as gastritis, peptic ulcers, and GERD. Thus, such advantages of the flexible gastroscope will drive the growth of the market during the forecast period.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. Both the US and Canada have well-developed and robust healthcare infrastructures, making North America a key region for the adoption and use of advanced medical technologies such as gastroscopy.
In addition, the region is home to many well-equipped hospitals, clinics, and gastroenterology centers that perform a large number of endoscopic procedures. These centers allow gastroenterologists to perform a wide range of diagnostic and therapeutic procedures using the endoscope. Furthermore, the presence of key market players such as Conmed Corp, Stryker Corp, Johnson, and Johnson Services Inc., and Laborie Medical Technologies Corp will drive the growth of the market in this region during the forecast period.
The market is witnessing significant growth driven by factors such as rising demand for minimally invasive procedures, fueled by the increasing prevalence of chronic disorders like Irritable Bowel Syndrome (IBS) and stomach cancer. Technological advancements in endoscopy devices, including flexible video gastroscopes and rigid endoscopes, are enhancing diagnostic accuracy and therapeutic outcomes. With innovations like artificial intelligence (AI) integration and disposable endoscopes gaining momentum, the market is poised for further expansion. Regulatory approvals from organizations like the FDA and initiatives like GLOBOCAN 2020 underscore the importance of ensuring patient safety and effective diagnosis in gastroenterological care.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges.
The incorporation of artificial intelligence (AI) into gastroscopes and endoscopy systems stands as a pivotal driver propelling market expansion. AI's utilization in gastroscopy primarily revolves around image analysis, where AI algorithms scrutinize real-time images captured by the gastroscope, effectively identifying suspicious lesions imperceptible to the naked eye. Moreover, AI-powered image analysis aids in lesion characterization, distinguishing between benign and malignant lesions, and predicting malignancy risks. Such insights empower healthcare professionals to render more precise diagnoses, enhance patient care, and mitigate unnecessary invasive procedures. Additionally, AI contributes to optimizing endoscopic unit performance by assessing exam adequacy, measuring wait times, and offering process feedback, thereby standardizing processes, minimizing variability, and augmenting endoscopic examination quality. This surge in AI integration within gastroscopy and endoscopy systems is poised to propel market growth in the foreseeable future.
Stringent regulations for the approval of gastrointestinal devices affect the growth of the market. Regulators have introduced a strict regulatory framework and labeling requirements for medical devices. Medical devices undergo safety assessments to demonstrate their medical effectiveness before being approved. The FDA prevents dangerous and ineffective devices from entering or remaining on the market. As a result, a large portion of devices on the market have not yet been approved by the Food and Drug Administration (FDA)
Failure to comply with these laws and regulations can have a negative impact on market expansion. Some devices undergo rigorous clinical testing prior to approval and require pre-market approval (PMA). Sometimes an extensive agency review process is followed for certain devices. Therefore, the strict regulation for the approval of gastrointestinal devices could become a major challenge and impede the growth of the market during the forecast period.
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The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Conmed Corp.: The company offers gastroscopes devices such as Biliary and Endoscopic Ultrasound devices.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth driven by various factors. Diagnostic procedures and therapeutic interventional gastroscopy are increasingly being conducted to detect and treat conditions such as stomach cancer, celiac disease, and other chronic disorders. Endoscopy devices, including flexible video gastroscopes and single-use endoscopes, are widely used in the healthcare sector to perform minimally invasive procedures. Concerns about cross-contamination have led to the adoption of single-use endoscopes alongside reusable ones. FDA approvals and advancements in technologies by key players like Pentax Medical, Fujifilm Holdings Corp, and Karl Storz GmbH & Co are driving market growth. Additionally, geographical expansion strategies and the development of innovative technologies such as robot-assisted endoscopes and capsule endoscopy are shaping the market landscape.
Moreover, advancements in technology are revolutionizing the gastroscopy landscape. Innovations such as capsule endoscopy technology, robot-assisted endoscopes, and artificial intelligence (AI) applications are enhancing diagnostic accuracy and therapeutic outcomes. Companies like Ethicon US, LLC and Odin Vision are pioneering AI-driven solutions for improved diagnosis of gastrointestinal disorders. Regulatory frameworks, including those established by the European Union (EU) and other regulatory bodies, ensure the safety and efficacy of endoscopic devices. As the global endoscopes market continues to expand, fueled by a rising prevalence of digestive disorders and an increasing demand for minimally invasive procedures. This growth trajectory aligns with the objectives outlined by organizations such as the World Health Organization (WHO) and initiatives like Cancer Tomorrow, aiming to improve gastrointestinal health outcomes worldwide.
The market forecasting report covers market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Gastroscopes Market Scope |
|
Market Report Coverage |
Details |
Page number |
152 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.85% |
Market growth 2023-2027 |
USD 366.84 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.33 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 40% |
Key countries |
US, Germany, UK, Japan, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advin Health Care, Arthrex Inc., B.Braun SE, Boston Scientific Corp., Carl Zeiss AG, Conmed Corp., Endomed Systems GmbH, FUJIFILM Corp., HOYA Corp., HUGER Medical Instrument Co. Ltd., Johnson and Johnson, KARL STORZ SE and Co. KG, LABORIE MEDICAL TECHNOLOGIES CORP., Medtronic Plc, Mitra Group, Olympus Corp., Richard Wolf GmbH, Smith and Nephew plc, Stryker Corp., and dantschke Medizintechnik GmbH and Co. KG |
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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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