Gastroscopes Market Projected To Grow Radiantly By 2030; Asserts MRFR Unleashing Industry Forecast

Pune, India, December, 2022/MRFR Press Release/- Market Research Future published a Cooked Research Report on “Global Gastroscopes Market Research Report - Forecast to 2030” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2030.

Global Gastroscopes Market   - Overview

The Gastroscopes Market is expected to reach USD 4.2 billion by 2030 at 7.2% CAGR during the forecast period 2022-2030.

Gastroscopy is a procedure in which a flexible tube known as gastroscope is used to observe the internal structure or parts of the esophagus, stomach, and small intestine. Gastroscopy can be recommended to investigate number of problems of stomach esophagus and small intestine. Major symptoms for gastroscopy are abdominal pain, a reduced number of red blood cells (anemia), heartburn or indigestion, and difficulties in swallowing or pain when swallowing (dysphagia). It is useful to confirm the diagnosis of various conditions such as stomach ulcers, stomach cancer and esophageal cancer, gastro-esophageal reflux disease (GORD), Barrett's esophagus, and coeliac disease.

 Increasing prevalence of gastric diseases is major factor for driving the gastroscopy market.  Moreover, increasing global burden of diseases, the share for gastric diseases is also increasing will boost the market growth. The common types of gastric diseases include peptic ulcers and gastric cancer.According to the article published in the World Journal of Gastroenterology, in 2017, peptic ulcer affects 4 million people annually with an estimated incidence rate of 1.5% to 3.0%. American Cancer Society estimates that about 28,000 cases of stomach cancer will be diagnosed and nearly 10,960 people will die from stomach cancer in 2017. According to No Stomach For Cancer, Inc. in 2015, gastric cancer was the third most common cause of deaths due to malignancy, caused 723,000 deaths worldwide. Moreover, 1 million new cases of gastric cancer are being reported annually. According to American Cancer Society, there were nearly 24,590 new cases of stomach cancer in 2015 and 10,720 deaths in the same year.

Global Gastroscopes Market   - Competitive Analysis

September, 2017- Stryker Corporation acquired NOVADAQ Technologies Inc, to expand its product portfolio in imaging technology. NOVADAQ is one of the leading developer of fluorescence imaging technology which in providing surgeons visualization of blood flow in vessels, and related tissue perfusion in cardiac, cardiovascular, gastrointestinal, plastic, microsurgical, and reconstructive procedures.

July, 2017- PENTAX MEDICAL Company had announced the collaboration with Shanghai Aohua Photoelectricity Endoscope Co., Ltd. (AOHUA) to improve the standard of patient care and quality of healthcare.

June, 2017- Boston Scientific Corporation launched Alair bronchial thermoplasty therapy in India. Alair bronchial thermoplasty treatment uses a bronchoscope to deliver radiofrequency energy to reduce the amount of excess smooth muscle tissue in the airways.

June, 2017- Olympus Company launched 3D Surgical Endoscope for faster and more precise surgery.

January, 2017- PENTAX MEDICAL Company acquired C2 Therapeutics to expand interventional endoscopy offering. According company reports, this acquisition will expand the company’s role in the gastroenterology worldwide from being a provider of advanced imaging for diagnostics, to now providing advanced therapeutic solutions.

November, 2016- Boston Scientific Corporation acquired EndoChoice Holdings, Inc., a Georgia based company focused on the development and commercialization of infection control products, pathology services, and single-use devices.

Boston Scientific Corporation (U.S.), Endomed Systems (Germany), FUJIFILM Holdings Corporation (Japan), PENTAX Medical (Japan), KARL STORZ GmbH & Co. KG (Germany), Olympus Corporation (Japan), PerkinElmer Inc. (U.S.), Richard Wolf GmBH (Germany), SonoScape Medical Corp. (China), Stryker (U.S.) are some of the prominent players at the forefront of competition in the Global Gastroscopes Market and are profiled in MRFR Analysis. 

Global Gastroscopes Market   -

Regional Analysis

America is the largest market for gastroscopes whose market is driven by an increasing prevalence of gastrointestinal diseases such as gastritis and dysphagia. Furthermore, there is a rise in the number of gastroscopies performed in the hospitals and diagnostic centers, thereby increasing the demand for gastroscopes.

Europe is the second largest market driven by the extensive use of diagnostic medical devices including gastroscopes and rising healthcare funding to research and development activities. According to the United European Gastrology report, in 2012, there were 34,534 new cases of esophageal cancer recorded in the European Union (EU).

In Asia Pacific is expected to be the largest market for Gastroscopes owing to an increase in the prevalence of gastric ulcer and other gastric diseases. Availability of high quality and affordable treatment options as well as rising demand for gastroscopies further boost the market growth. China and India are expected to web the fastest growing market in Asia Pacific. Also, rising geriatric population with number of chronic diseases and changing lifestyle of people further improve the market growth.

Middle East & Africa show steady but positive growth owing to rising demand for diagnostic services and increasing emphasis on primary healthcare.

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