The global gastroscopes market is expected to grow at a CAGR of close to 6% during the period 2018-2022, according to a new market research study by Technavio.
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Technavio has published a new market research report on the global gastroscopes market 2018-2022 under their healthcare and life sciences library. (Graphic: Business Wire)
The report categorizes the global gastroscopes market by product (flexible gastroscopes and rigid gastroscopes) and end-user (hospitals, ASCs, and others). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: wide prevalence of GI disorders
The global gastroscopes market is driven by the increased number of patients with GI diseases. The growing incidence of diseases such as esophageal or pancreatic cancers, biliary diseases, IBD, GERD, and Barrett's syndrome is expected to drive the growth of the global gastroscopes market. Also, changes in lifestyle such as unhealthy diet and physical inactivity have resulted in several complications like elevated blood pressure, blood glucose, cholesterol, and obesity in recent years. In the past few years, there has been a rise in morbidity and mortality rates due to chronic diseases such as esophageal cancer and critical GI disorders.
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Market trend: increasing growth opportunities in emerging markets
Due to the increasing population of undiagnosed and untreated people with GI disorders in emerging countries, vendors are extensively focusing on expanding their business in these markets to generate substantial revenue and increase their presence. For instance, the incidence and prevalence of chronic GI disorders in Asia, particularly in China and India, have been increasing over the past few years.
According to a senior analyst at Technavio for orthopedics and medical devices research, “Scientists have identified ulcerative colitis as one of the most common GI diseases affecting individuals in emerging countries such as China and India. Although several drugs are available in the market to treat such disorders, flexible gastroscopes play a vital role in early and accurate diagnosis. There has been growing awareness among the key vendors regarding the use of advanced gastroscopes for the diagnosis and treatment of various GI disorders and cancers.”
Market challenge: complications and maintenance issues associated with gastroscopes
Endoscopy is usually a safe procedure, which is used widely for treating upper GI disorders. However, the procedure involves risks and complications, which include perforation of organs (stomach or esophagus lining), bleeding, and infections. Infection due to the transmission of microorganisms by infected gastroscopes is another potential complication of gastroscopic procedures. Gastroscopes are susceptible to leaks, which increases the risk of a fluid invasion that can be hazardous if they are not immediately discovered and addressed. A leaking endoscope can result in image and angulation defects as well as greatly diminishing longevity of the endoscope. Thus, safety and maintenance issues associated with gastroscopes may restrict their usage and can be a potential challenge to the growth of the global gastroscopes market
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Some of the major contributors in the global gastroscopes market:
- Endomed Systems
- FUJIFILM
- HOYA
- HUGER Medical Instrument
- KARL STORZ
- Olympus
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