Global Gastrointestinal Devices Market Outlook 2024-2033: Essential Drivers, And Trends For Market Growth

Gastrointestinal Devices Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

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The gastrointestinal devices market size has experienced significant growth in recent years. It is projected to rise from $10.67 billion in 2023 to $11.41 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.9%. The growth during the historical period can be attributed to factors such as advancements in medical education and training, the cost-effectiveness and value offered by these devices, the increasing prevalence of diseases and demographic shifts, a focus on patient-centric care, and important regulatory milestones and approvals.
How Big Is the Global Gastrointestinal Devices Market Expected to Grow, and What Is Its Annual Growth Rate?

The gastrointestinal devices market size is anticipated to experience significant growth in the coming years. It is projected to increase to $15.2 billion by 2028, achieving a compound annual growth rate (CAGR) of 7.4%. The growth during the forecast period can be linked to initiatives focused on value-based healthcare, the rise of homecare and patient-centered devices, advancements in personalized and precision medicine, expansion in global markets, and evolving regulatory frameworks. Key trends expected in this period include a rise in minimally invasive procedures, an increase in gastrointestinal disorders, a shift towards homecare devices, a focus on patient-centric strategies, and the integration of remote monitoring and telemedicine.
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What Is Driving the Growth of the Gastrointestinal Devices Market?

A growing aging population is likely to drive the expansion of the gastrointestinal devices market in the future. This demographic shift occurs as the percentage of older individuals in a population rises, a result of decreasing fertility rates and increased life expectancy. As the elderly are more vulnerable to gastrointestinal disorders, there will be a greater demand for devices used in both diagnosis and treatment. Older adults face a higher risk of conditions such as colorectal cancer and gastroesophageal reflux disease (GERD).

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Which Leading Companies Are Driving The Growth Of The Gastrointestinal Devices Market Share?
Major companies operating in the gastrointestinal devices market report are Johnson and Johnson Services Inc., Medtronic plc, Siemens Healthineers AG, Fujifilm Holdings Corporation, Becton, Dickinson and Company, Stryker Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Olympus Corporation, Interscope Inc.
What Are The Key Trends Driving The Growth Of The Gastrointestinal Devices Market Size?
Key players in the gastrointestinal devices market are intensifying their efforts to expand their endoscopy solutions portfolio to enhance their competitive position. This expansion involves the creation and launch of new products and services related to endoscopy. Endoscopy is a medical procedure that employs an endoscope, a flexible or rigid tubular instrument, to inspect the internal structures of the body.
How Is the Global Gastrointestinal Devices Market Segmented?

1) By Product Type: GI Videoscopes, Biopsy Devices, Endoscopic Retrograde Cholangiopancreatography Devices (ERCP), Capsule Endoscopy, Endoscopic Ultrasound, Endoscopic Mucosal Resection (EMR), Hemostasis Devices, Other Product Types
2) By Sales Channel: Online Retailing, Medical Stores & Brand Outlet
3) By End Users: Hospitals, Clinics & Dialysis Centers, Ambulatory Surgical Center

North America: The Leading Region in the Gastrointestinal Devices Market

North America was the largest region in the gastrointestinal devices market in 2023. Asia-Pacific was the second largest region in the gastrointestinal devices global market report. The regions covered in the gastrointestinal devices global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is the Gastrointestinal Devices Market?

Gastrointestinal devices are utilized for diagnosing and treating medical issues associated with the digestive system or gastrointestinal tract. The primary product types include GI videoscopes, biopsy devices, endoscopic retrograde cholangiopancreatography (ERCP) devices, capsule endoscopy, endoscopic ultrasound, endoscopic mucosal resection (EMR), hemostasis devices, and various others.

The Gastrointestinal Devices Global Market Report 2024 from The Business Research Company includes the following key information:
Market size data for both historical and future periods
Analysis of both macro and microeconomic factors that have impacted the market over the past five years
Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Gastrointestinal Devices Market Report: Trends, Opportunities, Strategies, and More
The Gastrointestinal Devices Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into gastrointestinal devices market size, gastrointestinal devices market drivers and trends, gastrointestinal devices global market major players, gastrointestinal devices competitors' revenues, gastrointestinal devices global market positioning, and gastrointestinal devices market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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