Overview and Scope
Gastrointestinal devices are used for the diagnosis and treatment of medical conditions related to the digestive system or the gastrointestinal tract.
Sizing and Forecast
The gastrointestinal devices market size has grown strongly in recent years. It will grow from $10.67 billion in 2023 to $11.41 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to medical education and training, cost-effectiveness and value proposition, disease prevalence and demographic changes, patient-centric approach, regulatory milestones and approvals.
The gastrointestinal devices market size is expected to see strong growth in the next few years. It will grow to $15.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to value-based healthcare initiatives, homecare and patient-centric devices, personalized and precision medicine, global market expansion, regulatory changes and compliance. Major trends in the forecast period include minimally invasive procedures, rising gastrointestinal disorders, shift towards homecare devices, patient-centric approaches, remote monitoring and telemedicine.
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Segmentation & Regional Insights
The gastrointestinal devices market covered in this report is segmented –
1) By Product Type: GI Videoscopes, Biopsy Devices, Endoscopic Retrograde Cholangiopancreatography Devices (ERCP), Capsule Endoscopy, Endoscopic Ultrasound, Endoscopic Mucosal Resection (EMR), Hemostasis Devices, Other Product Types
2) By Sales Channel: Online Retailing, Medical Stores & Brand Outlet
3) By End Users: Hospitals, Clinics & Dialysis Centers, Ambulatory Surgical Center
Top 5 Major Players:
- Johnson and Johnson Services Inc.,
- Medtronic PLC,
- Siemens Healthineers AG,
- Fujifilm Holdings Corporation,
- Becton
North America was the largest region in the gastrointestinal devices market in 2023. Asia-Pacific was the second largest region in the gastrointestinal devices market report. The regions covered in the gastrointestinal devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing prevalence of gastrointestinal diseases contributed to the growth of the gastrointestinal devices market. Gastrointestinal diseases include irritable bowel syndrome, hemorrhoids, perianal abscesses, colon polyps, and cancer, among others. According to the Endoscopy Centre, every year, 62 million Americans are diagnosed with any of the digestive disease, and 2% to 6% or an estimated three lakhs to 5 lakhs Americans suffer from inflammatory bowel disease (IBD). According to the American College of Gastroenterology estimates, 10-15% of the adult population in the USA suffer from irritable bowel syndrome (IBS) symptoms. The increased prevalence of gastrointestinal diseases increased the demand for gastrointestinal devices to treat patients, thereby driving the gastrointestinal devices market market growth.
Key Industry Players
Major companies operating in the gastrointestinal devices market report are Johnson and Johnson Services Inc., Medtronic plc, Siemens Healthineers AG, Fujifilm Holdings Corporation, Becton, Dickinson and Company, Stryker Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Olympus Corporation, Interscope Inc., Hologic Inc., Steris plc, Cook Group Incorporated, MICRO-TECH Co. Ltd., Cantel Medical Corp., CONMED Corporation, PENTAX Medical Company, Karl Storz SE & Co. KG, US Endoscopy Inc., Richard Wolf GmbH, Motus GI Holdings Inc., Congentix Medical Inc., ERBE Elektromedizin GmbH, Creo Medical Group plc, GI Dynamics Inc., Millennium Surgical Corp., Mauna Kea Technologies SA, EndoMaster Pte Ltd., EndoChoice Holdings Inc., Zhanjiang Bokang Biotechnology Co. Ltd., Jinshan Science & Technology Co., Safe Medical Design Inc.
The gastrointestinal devices market report table of contents includes:
1. Executive Summary
2. Gastrointestinal Devices Market Characteristics
3. Gastrointestinal Devices Market Trends And Strategies
4. Gastrointestinal Devices Market – Macro Economic Scenario
5. Global Gastrointestinal Devices Market Size and Growth
….
32. Global Gastrointestinal Devices Market Competitive Benchmarking
33. Global Gastrointestinal Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Gastrointestinal Devices Market
35. Gastrointestinal Devices Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Gastrointestinal Devices Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Gastrointestinal Devices Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Gastrointestinal Devices Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Johnson and Johnson Services Inc. Financial Performance
Table 75: Medtronic plc Financial Performance
Table 76: Siemens Healthineers AG Financial Performance
Table 77: Fujifilm Holdings Corporation Financial Performance
Table 78: Becton, Dickinson and Company Financial Performance
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