Gastrointestinal Diseases Are Becoming More Common due to Increase in Digestive Problems
Right from gastrointestinal diseases like constipation, diarrhoea, gastroesophageal reflux disease (GERD), gallstones, Crohn's disease, ulcerative colitis, irritable bowel syndrome (IBS), and haemorrhoids to chronic diseases like gastrointestinal cancer, colorectal cancer, and cancer of liver and gall bladder, digestive issues can lead to deterioration of health and can even be fatal at times. Gastrointestinal diseases are among the most common problems in tropical countries and commonly manifest as diarrhoea, abdominal pain, abdominal distention, gastrointestinal bleeding, intestinal obstruction, malabsorption, or malnutrition. Reasons being irregular and unhealthy food habits, bad lifestyle habits, unclean water and sanitation, and physical exercise and health activities. The increasing prevalence of gastrointestinal diseases, high demand for minimally invasive procedures, technological advancements in devices - rising adoption of single use endoscopes, robotics, and growing focus on AI in surgeries - with higher throughput and accuracy, and growth in the geriatric population are the major factors driving the growth of the gastrointestinal devices market.
Changing lifestyles, combined with bad eating habits, have resulted in an increase in gastrointestinal (GI) disorders, which is projected to drive the market. According to reports, 20 million Americans suffer from digestive diseases in 2021, with 25 percent needing gastrointestinal surgery. Thus, with the growing number of people with digestive diseases, the demand for gastrointestinal devices will grow. The growing geriatric population with long-term medical issues such as GI illnesses, as well as the rising prevalence of colon and rectal cancer due to sedentary lifestyle, obesity, and cigarette use, are a few factors driving the growth of the gastrointestinal endoscopic devices market. The increased awareness of colorectal cancer is a major element driving the growth of the gastrointestinal devices market. As per studies, there are around 1.93 million cases of colon cancer recorded in the year 2020, and this number is expected to climb up to 3.2 million by 2040. Such a large patient pool will generate a huge demand for the gastrointestinal devices market in the coming years.
Endoscopic Retrograde Cholangiopancreatography Devices to See Healthy Sales Growth
Endoscopic retrograde cholangiopancreatography is a common endoscopic method used to look for obstructions in the ducts that drain the liver and pancreas caused by stones, tumours, or scarring in the biliary or pancreatic ducts. Therapeutic endoscopic retrograde cholangiopancreatography therapies include sphincterotomy, stone removal, stent insertion, balloon dilation, and tissue sampling. Endoscopic retrograde cholangiopancreatography device demand is driven by factors such as the increased incidence of gastroenteritis and an increase in digestive problems in the adult population. With the increasing prevalence of digestive problems, there is a greater need for advanced technologies for treating gastrointestinal problems. As a result of the benefits provided by endoscopic retrograde cholangiopancreatography devices, the adoption of these products is expected to expand among the target demographic, hence boosting market expansion. As a result of the aforementioned factors, the endoscopic retrograde cholangiopancreatography devices sector is predicted to increase significantly throughout the forecast period.
North America to Acquire a Major Share in Gastrointestinal Devices Market
North America is one of the most promising and profitable regional markets. Increased healthcare expenditure, technological advancements such as flexible scopes and wireless capsules, and rising patent awareness levels pertaining to early disease diagnostics and the benefits associated with minimally invasive diagnostic procedures are key factors contributing to its largest share. The North American gastrointestinal market is expected to increase rapidly in the future due to the prevalence of gastrointestinal diseases and digestive disorders (gastroesophageal reflux disease, cancer, IBS, lactose intolerance, and hiatal hernia). According to the Endoscopy Centre, 62 million Americans are diagnosed with one or more digestive ailments each year, with 2-6%, or an estimated 3 lakhs to 5 lakhs, suffering from IBD. These factors will have a positive impact on the progress of gastrointestinal devices market.
The primary driver of technological advancements in the US gastrointestinal device market is a natural preference for less invasive and, ideally, non-invasive methods of treatment. Several factors will contribute to market growth over the forecast period, including the increasing prevalence of GI-related conditions, tremendous growth in the adoption of colorectal cancer screening programs, and the adoption of new technologies. According to the American College of Gastroenterology, 10-15% of adults in the United States suffer from IBS symptoms. As the prevalence of gastrointestinal disorders expanded, so did the demand for gastrointestinal devices to treat patients, driving expansion of gastrointestinal devices market. Hospitals continuing to purchase outpatient facilities, and group purchasing organisations increasing their reach continues to have an impact on the US market (GPOs). When combined with the GI reimbursement decreases, average selling prices are projected to remain under significant pressure, and this market analysis examines the impact of this trend on global gastrointestinal devices market.
Global Gastrointestinal Devices Market: Competitive Landscape
Key companies in gastrointestinal devices market are launching new items while also launching collaborations, alliances, and partnership agreements. In February 2022, Motus GI received FDA approval to market the Pure-Vu EVS System, which is designed to improve navigation in tortuous anatomy, build on the Pure-Vu system's improved cleansing capabilities, and assist physicians in efficiently overcoming the difficulties of poorly prepared colons during a colonoscopy. In November 2021, Micro-Tech Endoscopy introduced the LesionHunter Cold Snare to the market, a revolutionary cold snare with an ultra-thin Nitinol wire. The LesionHunter nitinol snare was created exclusively for cold snare polypectomy.
A few of the players in gastrointestinal devices market include Boston Scientific Corporation, Medtronic Plc., Johnson & Johnson, Stryker Corporation, Fujifilm Holdings Corporation, CONMED Corporation, LLC, Becton, Dickinson and Company, Ethicon US, B. Braun Melsungen AG, and Cook Group Incorporated.
Global Gastrointestinal Devices Market is Segmented as Below:
Key Elements Included In The Study: Global Gastrointestinal Devices Market
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