Gastroscopes Market Information: By Type (Standard, Transnasal, Therapeutic, Dual Channel), By Application (Contradictions, Gastric Ulcer, Chronic Gastritis, Normal Mucosa, others), and By End Use (Hospitals& Clinics, others) – Global Forecast till 2023
Gastroscopes are used for the examination of various problems of stomach, esophagus and small intestine. Major indications for gastroscopy are abdominal pain, a reduced number of red blood cells (anemia), heartburn or indigestion, and difficulties in swallowing or pain when swallowing (dysphagia). It is useful for the confirmation of diagnosis of various conditions such as stomach ulcers, stomach cancer and esophageal cancer, gastro-esophageal reflux disease (GORD), Barrett’s esophagus, and coeliac disease.
Rising prevalence of gastrointestinal disease and demand for technologically advanced gastroscopes with high image quality are major drivers for the growth of the market. Additionally, product expansion and strategies such as merger & acquisition fuel the growth of the market. Majority of market players are engaged in the manufacturing gastroscopes with a cutting edge technology creating growth opportunities in the market.
The factors hindering the market growth are risk of infection and high cost of gastroscopes.
The global gastroscopes market is expected to grow at a CAGR of 6.9% during the forecast period.
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Major Players in Gastroscopes Market:
Some of the key players in the global market are Boston Scientific Corporation (U.S.), Endomed Systems (Germany), FUJIFILM Holdings Corporation (Japan), PENTAX Medical (Japan), KARL STORZ GmbH & Co. KG (Germany), Olympus Corporation (Japan), PerkinElmer Inc. (U.S.), Richard Wolf GmBH (Germany), SonoScape Medical Corp. (China), Stryker (U.S.), and others.
America is the largest market, which is driven by an increasing prevalence of gastrointestinal diseases such as gastritis and dysphagia. Furthermore, there is a rise in the number of gastroscopies performed in the hospitals and diagnostic centers, thereby increasing the demand for gastroscopes.
Europe is the second largest market driven by the extensive use of diagnostic medical devices including gastroscopes and rising healthcare funding to research and development activities. According to the United European Gastrology report, in 2012, there were 34,534 new cases of esophageal cancer recorded in the European Union (EU).
Asia Pacific is expected to be the largest market owing to an increase in the prevalence of gastric ulcer and other gastric diseases. Availability of high quality and affordable treatment options as well as rising demand for gastroscopies further boost the market growth. China and India are expected to web the fastest growing market in Asia Pacific. Also, rising geriatric population with number of chronic diseases and changing lifestyle of people further improve the market growth.
Middle East & Africa show steady but positive growth owing to rising demand for diagnostic services and increasing emphasis on primary healthcare.
The global Gastroscopes market is segmented on the basis of type, application, and end user.
On the basis of type, market is segmented into standard gastroscopes, transnasal gastroscopes, therapeutic gastroscopes, and dual channel gastroscopes.
On the basis of application, the market is segmented into contradictions, gastric ulcer, chronic gastritis, normal mucosa and others. Chronic gastritis is further segmented into superficial gastritis and atrophic gastritis.
On the basis of end user, the market is segmented into hospitals, diagnostic labs, clinics, ambulatory surgical centers, and others.
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Gastroscopes is a small tube inserted into the gastrointestinal tract to examine various parts of gastrointestinal tract such as the esophagus, stomach and the small intestine. Diagnosis of gastric ulcers can be done using these gastroscopes.
The market for gastroscopes is expected to grow at an exponential rate owing to an increasing prevalence of gastric diseases such as gastritis, and rising demand for technologically advanced gastroscopes across the globe. Additionally, a large number of market players manufacturing gastroscopes and their rising demand from hospitals and diagnostic center also contribute to the market growth.
- Standard gastroscopes market is the largest market in 2016 and expected to grow at a CAGR of 6.5% during the forecast period.
- Asia Pacific region is projected to be the fastest growing region, at a CAGR of 7.4% during the forecast period.
- Normal mucosa accounted for the largest market share in 2016 followed by chronic gastritis.
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America is the largest market for gastroscopes owing to an increasing demand for gastroscopes and rising prevalence of gastric ulcers and dysphagia. The U.S. rules the gastroscope market in America owing to their extensive use of examination of the gut and biopsy. According to the study conducted by the National Foundation for Swallowing Disorder, dysphasia still remains undiagnosed in many parts of the U.S. despite the high prevalence rate.
In Europe, rise in the number of gastric cancer is registered since last few years. Also, Barrett’s esophagus, and inflammatory bowel disease are highly prevalent in the European countries, especially in the geriatric population. Furthermore, availability of funds for research and development activities in medical devices enhance the demand for technologically advanced gastroscopes.
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