The rising prevalence of gastrointestinal disease and demand for technologically advanced gastroscopes with high image quality are major drivers for the growth of the market. Additionally, product expansion and strategies such as merger & acquisition fuel the growth of the market.
The global gastroscopes market, it mentions that the market is expected to attain a lucrative 6.9% CAGR between 2017 and 2023. Due to the high efficacy of gastroscopy, its market can touch a considerable valuation of USD 2,070.71 million by 2023.
The growing number of people, those trapped in a hectic schedule are victims of GI malaises. The need for a proper diagnosis to decide a proper treatment regime is likely to boost the adoption of gastroscopy. Gastroscopy is done to diagnose diseases like coeliac disease.
Based on the region, the gastroscopes market has been studied across the Americas, Asia-Pacific, Europe, and the Middle East and Africa.
The American gastroscopes market is anticipated to demonstrate outstanding growth owing to the surge in its adoption as a diagnostic aid for gastrointestinal cancer.
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Moreover, the growing cases of dysphagia and dyspepsia in the region are also likely to prompt regional market expansion. As per the National Foundation for Swallowing Disorder report, in 2016, 15 million adults were identified to suffer from dysphagia. Hence, the American gastroscopes market is predicted to hold the largest share during the evaluation period.
The gastroscopes market in Europe is forecasted to hold the second-largest share over the assessment period. As a result of high prevalence of gastrointestinal problems like inflammatory bowel disease, Barrett’s oesophagus, and oesophageal cancer, the European market growth is likely to spur. Furthermore, the rising cases stomach cancer in the UK is another factor that is accounted for the regional market to register an impressive growth over the review period.
The gastroscopes market in the Middle East and African region can note a steady growth over the evaluation period. The modifying healthcare system and the increasing demand for gastroscopy devices are accounted for the regional market to growth to amplify.
MRFR profiled prominent market players operating in the gastroscopes market. They are, Cogentix Medical, Boston Scientific Corporation (US), SonoScape Medical Corp. (China), PENTAX MEDICAL (Japan), Fujifilm Holdings Corporation (Japan), KARL STORZ GmbH & Co. KG. (Germany), Endomed Systems, Olympus Corporation (Japan), Perkin Elmer (US), and SOFMEDICA.
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The gastroscopes market study has been segmented on the basis of application, type, and end user.
Based on the type, the gastroscopes market has been segmented into therapeutic gastroscopes, trans-nasal gastroscopes, standard gastroscopes, and dual-channel gastroscopes.
Based on the application, the gastroscopes market has been segmented into a gastric ulcers, normal mucosa, contraindications, chronic gastritis, and others. In 2017, the gastric ulcer segment grasped 21% of the market share and is likely to surge in the review period.
By end user, the gastroscopes market has been segmented into ambulatory surgical centers, diagnostic labs, hospitals and clinics, and others.
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