Gastrointestinal Products Market

The report "Gastrointestinal Products Market by Devices (Endoscopy, Ablation system, Motility testing, Biopsy devices, Stenting devices, pH monitoring), Diseases (GERD), (IBD), Gastrointestinal cancer), End-User (Hospitals, ASC) - Forecast to 2029", is valued at an estimated 14.7 billion in 2024 and is projected to reach USD 19.7 billion by 2029, at a CAGR of 6.1% during the forecast period.

Browse 145 market data Tables and 55 Figures spread through 350 Pages and in-depth TOC on "Gastroenterology Market by Devices (Endoscopy, Ablation system, Motility testing, Biopsy devices, Stenting devices, pH monitoring), Diseases (GERD), (IBD), Gastrointestinal cancer), End-User (Hospitals, ASC) - Forecast to 2029"
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The growth in the Gastroenterology Market is mainly due to an increase in technological advancements, an Increase in chronic diseases, and an increase in government funding. The aging global population is pushing up demand for healthcare services and drugs. Older persons frequently have complicated healthcare demands and may require injectable medications to address chronic illnesses, which contributes to the expansion of the Gastroenterology/Gastrointestinal Products industry.

Emerging economies are seeing rapid urbanization, improved healthcare infrastructure, and more healthcare spending, resulting in greater access to Gastrentrology procedures. As a result, pharmaceutical companies are focusing on extending their presence in these markets to drive market growth.

“By Devices, Endoscopy holds the largest share in 2023.”

Globally, there is a rising prevalence of gastrointestinal illnesses, including gastric reflux disease (GERD), inflammatory bowel disease (IBD), and colon cancer. The need for endoscopic tools and services is fueled by the critical role endoscopy plays in the diagnosis, staging, and monitoring of various disorders. Endoscopy's expanding use can be attributed to its therapeutic applications, which go beyond diagnosis and include managing bleeding ulcers and removing precancerous lesions.

“Hospitals are the fastest-growing end users of the Gastrointestinal Products Market in 2023.”

Based on end users, the Gastrointestinal Products Market is segmented into Hospitals, Clinics, Ambulatory surgical centers, and independent diagnostic labs. Hospital gastroenterology departments usually provide a multidisciplinary approach with radiologists, surgeons, oncologists, dietitians, and gastroenterologists among their members. For the management of complicated situations including pancreatitis, liver disorders, and colorectal cancer, this all-encompassing treatment is crucial.Hospitals are prepared to address gastrointestinal emergencies, including perforations, serious bleeding, or obstructions that need for quick surgical skill and intervention.

“North America dominates the global Gastroenterology Market in 2023.”

The Gastroenterology Market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2023 North America accounted for the largest share during the forecast period due to the following reasons- In North America, there is a markedly high prevalence of gastrointestinal problems, including colon cancer, GERD, and irritable bowel syndrome (IBS). The need for cutting-edge medicinal and diagnostic products is fueled by this.One of the most sophisticated healthcare systems in the world is found in North America, especially in the United States. Modern GI products and technologies are supported in their acceptance and integration by this infrastructure

Key Players:

The prominent companies are Boston Scientific (U.S), Medtronic (U.S), Olympus Corporation (Japan), Stryker (U.S), Cook Medical (U.S), Ethicon (U.S), Fujifilm Corporation (Japan), Conmed Corporation (U.S), Merit medical systems (U.S).

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