Market Research Future (MRFR) studied the global gastroscopes market 2020 through the review period till 2023. As per MRFR findings, the gastroscopes market is expected thrive at 6.9% CAGR from 2017 to 2023.
By 2023, the gastroscopes market can acquire considerable revenue. The increasing application of gastroscopes for examining different ailments of stomach, small intestine, and esophagus, along with rise in cases of these issues can contribute to the expansion of the market soon.
The growing diagnostics application of gastroscopy to confirm conditions, such as stomach cancer, stomach ulcers, gastro-esophageal reflux disease (GORD), esophageal cancer, coeliac disease, and Barrett's esophagus, often induced due to genetic causes and lifestyle changes, can influence the market. The prevalence of gastrointestinal malaises and introduction of modern advanced gastroscopes that offer high image quality are other causes that can contribute to the market expansion. High risk of infection and increase in gastroscopes expenses are factors that are likely to hinder the market expansion.
The segment study of the global gastroscopes market is based on type, end user, and application. The type-based segments of the gastroscopes market are transnasal gastroscopes, standard gastroscopes, dual channel gastroscopes, and therapeutic gastroscopes. The dual channel gastroscopes segment can rise at high pace, while the standard gastroscopes segment is expected to garner considerable revenue by 2023.
The application-based segments of the gastroscopes market are chronic gastritis, contradictions, normal mucosa, and gastric ulcer among others. The chronic gastritis segment studies atrophic gastritis and superficial gastritis. The chronic gastritis segment is expected to garner decent market value in the years to come. The escalation of gastric ulcer cases can favor expansion of the gastric ulcer segment.
The end user-based segments of the gastroscopes market are clinics, hospitals, diagnostic labs, and ambulatory surgical centers among others. The rise in the adoption of gastroscope in diagnostic labs can boost its segment’s growth. The increase in number of clinics with gastroscope can benefit the market in the near future.
The regional evaluation of the global gastroscopes market states that the Americas is expected to generate substantial turnover by 2023. The expansion of gastroscope market in the US can rise at high pace owing to the adoption of effective modern diagnostic technologies to detection disorders, such as stomach ulcer, and gastric cancer among other gastrointestinal diseases. Moreover, the increase in cases of digestive conditions, such as dysphagia and dyspepsia, can benefit the market soon.
In Europe, the gastroscope market is likely to acquire the second-largest market share in the evaluation period. In Europe, cases of esophageal cancer, Barrett's esophagus, and inflammatory bowel disease are gaining prevalence, creating the need for gastroscopes. This can benefit EU gastroscope market in the years ahead. The presence of robust medical base and effective diagnostic technologies are other factors that offer strong foundation for the regional gastroscope market to surge.
In Asia Pacific, the gastroscope market expansion can be attributed to the expansion of geriatric population, and increase in cases of gastrointestinal diseases, such as; inflammatory bowel disease (IBD), colorectal cancer, Crohn’s disease (CD), and gastroesophageal reflux disease among others. The increase in demand for the gastroscopy instruments can fuel the regional market expansion. MRFR study reveals that the gastroscope market in Australia can hold about 14% of the regional market share, thus is expected to garner decent revenue for the market.
The gastroscopes market in the Middle East and Africa region is expected to rise at steady pace in the forecast span. Upgradation of healthcare system and rise in deployment of effective diagnostic devices can contribute to the health of the Middle East and Africa gastroscope market. Rise in socio-economic issues and political disruption in MEA can hinder the gastroscopes market surge in the near future.
Major Players in Gastroscopes Market
MRFR studied the global players in the gastroscope market. They are Endomed Systems (Germany), Boston Scientific Corporation (U.S.), PENTAX Medical (Japan), FUJIFILM Holdings Corporation (Japan), KARL STORZ GmbH Co. KG (Germany), PerkinElmer Inc. (U.S.), Olympus Corporation (Japan), Richard Wolf GmBH (Germany), Stryker (U.S.), and SonoScape Medical Corp. (China) among others. The report on the gastroscopes market, published by MRFR, vividly discusses drivers, restrains, key developments, trends, and organic and inorganic growth strategies adopted by key players. Activities of these players are expansion that are observed to play crucial role in their business growth and gaining customers traction.