The Global Gastroscopes Market is expected to grow at a CAGR of 10.8% during the forecast period. The Global Gastroscopes Market is expected to reach USD 2,070.71 million by 2023 from USD 1,303.59 million as of 2016.
The Gastroscopes Market 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. Gastroscopes are 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.
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High cost of gastroscopes and risk of infection by their use may restrain the market growth of the market. According to NCBI in 2017, gastric ulcer has affected 4 million people worldwide with an incidence of 1.5% to 3.0%.
Gastroscopes Market Segments:
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.
Regional Analysis of the Global Gastroscopes Market:
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.
In Asia Pacific, the market is expected grow at a fastest rate owing to an increasing burden of gastrointestinal diseases which is attributed to a high prevalence of Helicobacter Pylori in countries such as India.
The Middle East & Africa also show a rise in the demand for gastroscopes and diagnostic procedures and improving healthcare infrastructure. In the Middle East, the prevalence of stomach cancer is found to be high.
Some of the key players in this 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.
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Major TOC for Gastroscopes Market:
1 Report Prologue
2 Market Introduction
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
2.5 Market Structure
3 Research Methodology
3.1 Primary Research Methodology
3.2 Secondary Research Methodology
3.3 Market Share Analysis
3.4 Trade Analysis
3.5 Market Pricing Approach
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