The report published by Market Research Future (MRFR) states that the global gastroscopes market is marked to exhibit remarkable expansion at a CAGR of 10.8% during the forecast period of 2017-2023 and reach the valuation of USD 2070.71 Mn by the end of the year 2023 from 1303.59 Mn in the year 2016.
High prevalence of gastrointestinal disorders as result of changing lifestyle and unhealthy dietary habits is inducing high demand for gastroscopes in the global market, leading to the notable expansion of the global gastroscopes market. Increased adoption and availability of advanced diagnostic techniques in the healthcare sector of various regions are also fueling the growth of the global gastroscopes market during the assessment period.
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Some of the prime players profiled by Market Research Future (MRFR) that are operating in the global gastroscopes market are Boston Scientific Corporation (the U.S.), Endomed Systems (Germany), FUJIFILM Holdings Corporation (Japan), PENTAX Medical (Japan), KARL STORZ GmbH & Co. KG (Germany), Olympus Corporation (Japan), PerkinElmer Inc. (the U.S.), Richard Wolf GmBH (Germany), SonoScape Medical Corp. (China), Stryker (the U.S.), and others. The players in the global gastroscopes market are expanding their businesses by introducing innovative devices and their maintenance technologies in the global market. For instance, in May 2018, TSO3 Inc., a leading developer of innovation sterilization technology for medical devices in healthcare settings, has announced that it has received clearance from US regulators for the terminal sterilization of flexible endoscopes with the help of company’s new STERIZONE VP4 Sterilizer. This sterilizer is designed for sterilization of colonoscopes, duodenoscopes as well as gastroscopes.
The global gastroscopes market has been segmented on the basis of type, application, and end user. Based on type, the global gastroscopes market has been segmented into standard gastroscopes, transnasal gastroscopes, therapeutic gastroscopes, and dual channel gastroscopes. Among these, the standard gastroscopes segment commanded the major share of the global gastroscopes market in the year 2016 and is marked to exhibit notable growth at a CAGR of 6.5% during the review period.
Based on application, the global gastroscopes market has been segmented into contradictions, gastric ulcer, chronic gastritis, normal mucosa, and others. Among these, the normal mucosa segment commanded for the maximum share of the global gastroscopes market in the year 2016, followed by chronic gastritis. The chronic gastritis segment has been sub-segmented into superficial gastritis and atrophic gastritis. Based on end user, the global gastroscopes market has been segmented into hospitals, diagnostic labs, clinics, ambulatory surgical centers, and others.
Geographically, the global gastroscopes market is segmented into four major regions such as the Americas, Europe, Asia Pacific (APAC) and the Middle East and Africa. The Americas commands the largest share of the global gastroscopes market owing to the high prevalence of gastrointestinal disorders caused due to changing lifestyle and unhealthy dietary habits, rapid development of advanced medical devices in the well-developed healthcare sector and increased healthcare expenditure as a result of rise in disposable income of the population in this region. The gastroscopes market in the Europe region is expanding at a notable growth rate during the assessment period owing to the increased government funding for carrying out extensive research and development activities and high demand for gastrointestinal endoscopy in the well-developed healthcare sector of this region. The gastroscopes market in the Asia Pacific region is projecting fastest expansion at a CAGR of 7.4% during the assessment period. Rise in awareness regarding the gastrointestinal disorders and increasing availability of effective treatments in the healthcare sector of the emerging economies are propelling the growth of the gastroscopes market in this region. High prevalence of stomach cancer and increasing demand for medical devices in the developing healthcare sector is fueling the growth of the gastroscopes market in the Middle East and Africa region.
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