Skip to main content

Global Gastrointestinal Devices Market Estimated to See Widespread Growth With 5% CAGR 2030

 

The global Gastrointestinal Devices market is expected to witness a CAGR of ~5% during the forecast period, is driven by aging populations, rising GI procedures, and colorectal cancer cases. GI endoscopes lead, with single-use endoscopes seeing rapid growth due to lower risks. 

Ageing population, rising number of GI procedures, growing cases of colorectal cancer and screening mandates in many healthcare systems is driving the Gastrointestinal Devices MedTech market growth. Rising usage of robotics and focus on AI are offering further impetus for the market growth.

To request a free sample copy of this report, please visit below
https://meditechinsights.com/gastrointestinal-devices-medtech-market/request-sample/

Medi-Tech Insights’ latest research insight on Gastrointestinal Devices MedTech market analyses the global market with respect to product and geography.

Based on product, Gastrointestinal Devices MedTech market comprises of 4 segments, viz., GI endoscopes, endotherapy devices, laparoscopes, and laparoscopic devices. Based on our research & interviews with industry experts, it is evident that GI endoscopes is the largest product segment. Within endoscope market, reusable endoscopes form major chunk of the market, owing to the fact that they are high-cost capital equipment with relatively greater adoption. However, single-use endoscope market is slated to grow faster. Shift driven by relatively lower acquisition cost, lower level of training & skills, no reprocessing cost and no risk of cross-contamination. Major players offering single-use endoscopes are Boston Scientific and Ambu.

“Currently, penetration of single-use endoscopes in GI is <5%. It is expected to increase to 10-15% in the next 5 years.” - CEO, Leading Gastrointestinal MedTech Company 

Geographic Snapshot: Gastrointestinal Devices MedTech Market

Comprehensive regional assessment of the global Gastrointestinal Devices MedTech market covering U.S., Europe (Germany, Italy, France, Spain, UK, and Rest of Europe), Asia-Pacific (India, China, Japan, Australia, New Zealand, Singapore and Rest of Asia-Pacific) and Rest of the World (Latin America, Middle-East & Africa) suggests that U.S. is likely to continue its dominance in the next 10 years. Increasing number of endoscopic examinations due to aging population, favourable reimbursement climate for endoscopy procedures, growth in minimally invasive endoscopic therapy procedures, rising concerns over cleaning, disinfection and sterilization and higher quality expectations are some of the key factors driving the U.S market.

Gastrointestinal Devices MedTech market benefits from presence of large players like Olympus and Boston Scientific (BSX) but number of start-up companies have emerged especially in AI, single-use instruments

GI endoscopes, endotherapy devices, laparoscopes, and laparoscopic devices are four major market segments. Olympus, Fujifilm, and Hoya are top 3 players in endoscope market with Olympus alone accounting for major chunk. Endotherapy devices is the fastest growing market segment and is dominated by BSX with more than 50% market share. Laparoscope’s market is dominated by Stryker, Karl Storz, and Olympus. On the other hand, top 5 players accounted for more than 70% share of laparoscopic devices market.

AI in GI Endoscopy and Robot-assisted GI Surgeries are key trends

Introduction of AI is a step towards the future of endoscopic diagnosis and therapy. It compensates for human errors, brings more accuracy, consistency, higher speed which in turn makes endoscopic procedures more efficient and of higher quality. Key players are increasingly arming their product portfolio with AI technology. For instance, in October 2020, Olympus launched ENDO-AID, an AI-powered endoscopy platform. It automatically spots suspicious lesions and polyps during colonoscopy in real time.

Robotics is gradually converting laparoscopic surgeries into robotic assisted surgeries. Advantages offered by robotic assisted surgeries include less pain, less blood loss/risk of infection/scarring, shorter hospital stay, and quicker recovery time. Some of the GI surgeries performed using surgical robots are GI cancer surgeries, bariatric surgeries, gallbladder surgeries, spleen surgeries, pancreatic surgeries, hepatectomy, colectomy, hernia repair, gastrectomy, among others.

🔗 Want deeper insights? Download the sample report here:
https://meditechinsights.com/gastrointestinal-devices-medtech-market/request-sample/

Artificial intelligence and single-use endoscopy have attracted PE investment recently

Traditional endoscopy has a long track record in healthcare, but the images produced by the procedure are subject to the assessment of clinicians, potentially leading to wide variations in interpretations. However, AI-assisted endoscopy is perceived to have potential to provide consistent results and improve patient care owing to which PEs are investing in AI providers. For instance, in August 2021, Iterative Scopes raised $30 mi Series A Financing to Advance AI-Driven Precision Medicine for Gastroenterology. Similarly, single-use endoscopy is likely to be focus area in coming years with key players already started to add these to portfolio. Also, smaller/niche players are receiving funding. For instance, in October 2021, IQ endoscope received £4 mi (~$5 mi) for supporting regulatory approval process for its single use flexible gastroscope, as well as accelerating the development of its single use flexible colonoscope.

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 completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

Contact:

Ruta Halde
 Associate, Medi-Tech Insights
 +32 498 86 80 79
 info@meditechinsights.com 

Comments

Post a Comment

Popular posts from this blog

Global Biotechnology Market to grow at 13–15% CAGR as CRISPR use expands globally by 2029

  The global biotechnology market is set to witness a growth rate of 13-15% in the next 5 years.  Advancements in genetic engineering and genomics; growing demand for biopharmaceuticals; rising incidence of chronic diseases; growth in environmental and agricultural biotechnology; increased investment in R&D; growing demand for synthetic biology; and presence of favorable government initiatives are some of the key factors driving the biotechnology market. Biotechnology is the scientific field that uses biological organisms, systems, or processes to develop products and technologies aimed at improving health, agriculture, environmental sustainability, and industrial efficiency. By applying principles of genetics, molecular biology, and biochemistry, biotechnology enables advancements like genetic engineering, biopharmaceutical development, biofuels, and genetically modified organisms (GMOs). This field is instrumental in producing therapies for diseases, increasing crop r...
Post a Comment
Read more

Global Cell Isolation Market projected to grow at 11% CAGR with R&D in oncology therapies by 2030

  The global cell isolation market is projected to grow at a CAGR of 11% from 2025 to 2030,  driven by rising investments in cell-based research, increasing adoption of cell therapies, and growing demand for biopharmaceutical production. Growth is further supported by technological advancements in isolation methods, increasing R&D activities in regenerative medicine, and expanding clinical applications for isolated cells.  Cell isolation is a fundamental process in life sciences and clinical research, involving the separation of specific cell types from complex biological samples. The market is expanding due to growing applications in stem cell research, cancer biology, immunology, and personalized medicine. Additionally, improvements in magnetic-activated cell sorting (MACS), fluorescence-activated cell sorting (FACS), and microfluidic technologies are making cell isolation more efficient, reproducible, and scalable. To request a free sample copy of this report,...
Post a Comment
Read more

Global Multi Cancer Early Detection Market expanding 15–20% CAGR through personalized care 2030

  The multi cancer early detection market is expected to grow at a CAGR of around 15-20% during the forecast period.  This growth is primarily due to the rising awareness and increasing demand for early-stage screening tools, especially as cancer rates continue to rise globally, and technological advancements in screening methods. However, high costs and strict regulations can still hinder the market growth.  Multi Cancer Early Detection (MCED) refers to tests designed to detect multiple cancers, often from a single blood sample, unlike traditional methods, which can include multiple diagnostic tests or biopsies. These tests look for signs like DNA methylation patterns or small traces of tumor DNA floating in the bloodstream. The primary goal is early cancer detection, ideally before any symptoms appear, so the overall treatment is more effective and less expensive. Download a free sample report now 👉 https://meditechinsights.com/multi-cancer-early-detection-marke...
Post a Comment
Read more