According to BIS Research, gastrointestinal endoscopes can be defined as the endoscopes that are used to examine the GI tract-upper and lower GI tract. The increasing demand for single-use endoscopes such as duodenoscopes, gastroscopes, and colonoscopes, increasing demand for capsule endoscopy, and the integration of industry with robotics and AI are some of the major opportunities in the global gastrointestinal endoscopy market. Furthermore, some of the current key trends in the market are the shift from conventional surgeries to robot-assisted surgery, the development of single-use endoscopes, the rising demand for minimally invasive procedures, and the increasing number of product launches among market players.
The global gastrointestinal endoscopy market was valued at $13.40 billion in 2021 and is anticipated to reach $25.75 billion by 2031, witnessing a CAGR of 6.24% during the forecast period 2022-2031. The market is driven by factors such as the increasing prevalence of gastrointestinal diseases, rising preference for minimally invasive surgeries, growing demand for capsule endoscopy, the shift from reusable endoscopes to disposable endoscopes, and technological advancements in the field of robot-assisted endoscopes and AI-based devices.
Impact of COVID-19
The COVID-19 pandemic has impacted practically all sectors and social functions worldwide, including the gastrointestinal endoscopy market. COVID-19 led to a decline in the global gastrointestinal endoscopy market, as elective and surgical procedures were stopped during the lockdown.
Overall, the supply side was negatively impacted, especially during the peak of the COVID-19 pandemic. The significantly high number of endoscopy procedures resumed after the restrictions were lifted, which offset the negative impact and led to the growth of the market in 2021.
In addition to this, the COVID-19 pandemic also helped in the adoption of single-use endoscopes. Single-use endoscopes eliminate the risk of cross-contamination, which turned out to be a favorable condition for their adoption during the COVID-19 pandemic.
Recent Developments in the Global Gastrointestinal Endoscopy Market
• In May 2022, Limaca-Medical received breakthrough device recognition by FDA for its Precision-GI endoscopic ultrasound biopsy device.
• In February 2022, Ambu A/S received FDA approval for its Ambu aScope Gastro and Ambu aBox 2.
• In November 2021, Medtronic plc received 510 (k) clearance from FDA for its Pillcam Small Bowel 3 system for remote endoscopy procedures.
• In August 2021, Ambu received CE mark approval for its Ambu aScope Duodeno, a disposable duodenoscope.
Global Gastrointestinal Endoscopy Market Segmentation
Demand – Drivers and Limitations
Following are the drivers for the global gastrointestinal endoscopy market:
• Increasing Prevalence of Chronic Gastrointestinal Diseases
• Upsurge in Adoption of Disposable Gastrointestinal Endoscopes
• Rising Inclination toward Minimally Invasive Procedures
• Shift toward Wireless Capsule Endoscopy
The market is expected to face some limitations as well due to the following challenges:
• Dearth of Skilled Healthcare Professionals
• Lack of Reimbursement Frameworks
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent established names in this market are:
• Boston Scientific Corporation
• Medtronic plc
• KARL STORZ SE Co. KG
• Ambu A/S
• Teleflex Incorporated
• HOYA Corporation
• Olympus Corporation
• FUJIFILM Holdings Corporation
• Cook Group Inc
• SonoScape Medical Corp.
• EndoMed Systems GmbH
• CapsoVision, Inc.
• HuiZhou Xzing Technology Co., Ltd.
• Endogene Ltd.
• Envaste Limited
Key Questioned Answered in the Report
What are the key drivers, restraints, and opportunities for the global gastrointestinal endoscopy market?
What are some key strategies adopted by the major players?
Who are the major key player in the global gastrointestinal market?
How has COVID-19 impacted the global gastrointestinal endoscopy market, and how long is its impact going to affect the market?
Why is the global gastrointestinal endoscopy market shifting to disposable endoscopes from reusable endoscopes?
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The following can be considered some of the USPs of the report:
· Impact of COVID-19 on gastrointestinal endoscopy market
· Extensive product benchmarking of the top players (including established and emerging players) to offer a holistic view of the global gastrointestinal endoscopy market product landscape
· Comparative analysis (conventional vs. robot-assisted surgery and disposable vs. reusable endoscopes) to gain a better understanding of how the introduction of these technologies has changed the landscape of the global gastrointestinal endoscopy market
· Market share analysis based on product portfolio, recent developments, and regional spread of the key players
· Investment landscape, including patent analysis
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