Market Overview

The gastrointestinal devices market is poised for a 6.7% value growth, reaching USD 14.38 Billion by 2028 from 2020. Gastroenterology, a medical discipline focusing on the digestive system, encompasses the gastrointestinal (GI) tract. Encompassing equipment for GI procedures, diagnosis, treatment, and analysis, gastrointestinal devices play a vital role in addressing common diseases such as hepatology, transplantation, gastrointestinal cancer, pancreatic disease, and chronic inflammation.

Companies in Focus

Key companies in the market include Covidien Ltd, Boston Scientific Corporation, Johnson & Johnson, CONMED Corporation, Stryker Corporation, Fujifilm Holdings Corporation, Becton, Dickinson and Company, B. Braun Melsungen AG, Medtronic PLC, and Cook Group Incorporated.

Market Statistics

The global gastrointestinal devices market valuation was USD 7.49 Billion in 2018, projected to reach USD 14.38 Billion by 2028. Clinics and diagnostic centers are expected to generate USD 3.86 Billion in revenue by 2028, growing at a 5.1% CAGR. Biopsy devices anticipate a 12.2% market share by 2028, with a 7.8% CAGR. Endoscopic ultrasound holds a 14.7% market share in 2028, growing at a 5.8% CAGR. Capsule endoscopy is projected to achieve a 14.1% market share by 2028, with the fastest CAGR of 11.2%.

Factors driving market expansion include the escalating prevalence of gastrointestinal disorders globally, particularly among geriatric and pediatric populations. Improved healthcare infrastructure in developing regions contributes significantly. Increased awareness, evolving disease patterns, government support, and rising demand for gastroenterological healthcare services are additional growth catalysts. Among end-users, hospitals lead, driven by widespread adoption of gastrointestinal devices. While medical stores and brand outlets dominate, online retailing anticipates higher growth.

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Regional Insights

North America claimed a 34.4% market share in 2018, fueled by a surge in geriatric gastroenterological cases and increased healthcare spending. In the Asia Pacific (APAC), a 9.0% CAGR is forecasted, propelled by a high incidence of gastrointestinal disorders and the establishment of multispecialty healthcare centers. China, India, and Japan emerge as key contributors in the APAC region.

Report Highlights

The report covers global gastrointestinal devices market statistics (2018-2028), historical data (2016-2017), and forecasts (2020-2028). It includes market size estimation, trend analysis, alternatives analysis, regulatory frameworks, upcoming research, and application outlook. Other aspects encompass ongoing developments, regional prevalence of ambulatory care services, demand-supply gap analysis, and pricing strategies of competitors. Strategic recommendations, market trends, and company profiling with detailed strategies, financials, and recent developments are also featured.

Trends in the Gastrointestinal Devices Market

Key trends include a rise in geriatric gastrointestinal disorders, unhealthy dietary habits contributing to diseases like functional dyspepsia and colorectal cancer, and the extensive use of gastrointestinal devices in procedures. High costs associated with advanced devices pose a challenge, particularly for smaller hospitals. Hospital adoption of gastrointestinal devices is prominent, with a forecasted market share of 49.8% by 2028.

Specific Sub-Segments

Endoscopic Retrograde Cholangiopancreatography (ERCP) devices, a diagnostic test using X-Ray, are expected to hold a 14.4% market share by 2028. European market growth is forecasted at 27.6% possession by 2028, with Germany playing a key role. APAC anticipates the fastest CAGR of 9.0%, driven by significant patient counts and healthcare advancements in China, India, and Japan.

Segmentation

The report segments the market based on device type, sales channel, end-users, and region. Device types include GI videoscopes, biopsy devices, ERCP devices, capsule endoscopy, endoscopic ultrasound, endoscopic mucosal resection, hemostasis devices, and others. Sales channels comprise online retailing, medical stores and brand outlets. End-users include hospitals, clinics and dialysis centers, ambulatory surgical centers, and others.

Regions covered include North America (U.S.), Europe (U.K., France), Asia Pacific (China, India, Japan), MEA, Latin America (Brazil).

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