Gastroscopes Market Analysis

Global Gastroscopes Market Overview

Gastroscopes Market Size was valued at USD 2.5 Billion in 2022. The Gastroscopes market industry is projected to grow from USD 2.68 Billion in 2023 to USD 4.67 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.20% during the forecast period (2023 - 2032). The increasing prevalence of stomach cancer, peptic ulcers, and GERD, as well as rising demand for upper gastrointestinal tract diagnostic and treatment procedures worldwide are the key market drivers enhancing the market growth. 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Olympus Corporation launched EVIS X1, its next-generation endoscopy system into China in the 23rd November 2023. This endoscopy system has been demonstrated at the 6th annual China International Import Expo that was held in Shanghai from November 5th -10th.

June 2023-Omnivision, manufacturer of semiconductor solutions, introduces the brand-new, ultrathin OVMed OCHTA cable module for disposable endoscopes. This ground-breaking module can be used in spinal, ob-gyn, utero-renal, neuro, ophthalmic and cardiac minimally invasive surgery procedures.

May 2023- Olympus today announced FDA clearance for its new EVIS X1 endoscopy system and two compatible gastrointestinal video scopes: GIF-1100 gastric video scope for the upper digestive tract (including esophagus, stomach and duodenum) and CF-HQ1100DL/I colonovideoscope for lower GI tract.

Fujifilm India added two more endoscopic solutions to their line-up, such as ClutchCutter and FushKnife, by January 2023. These products were exhibited at Jaipur during the Indian Society of Gastroenterology’s Annual Congress, i.e., ISGCON63.

For example, in December 2022, Olympus Corporation agreed to purchase Odin Vision – a UK-based cloud-AI endoscopy company, so as to revolutionize procedural & clinical workflows, thereby improving patient care.

Ambu announced on February 2022 that Ambu aBo2 and Ambu aScopeGastro have received regulatory approval under the US’s FDA 510(k). Combining new state-of-the-art display & processing technology with advanced imaging features, aScope Gastro is Ambu’s first sterile single-use gastroscope.

September 2020- PENTAX Medical announced the introduction of its new Ultrasound Video Gastroscopes J10 Series in the U.S. These state-of-the-art gastroscopes enhance image quality, increase diagnostic capability and help to manage diseases effectively in patients.

For example, Pentax Medical signed a multi-year joint venture agreement with Jiangsu Vedkang Medical Science and Technology to develop disposable therapeutic products in the flexible endoscopy space. Under this JV, Pentax Medical would contribute its sales & distribution network while Jiangsu Vedkang would provide production and R&D capabilities.

Gastroscopes Market Trends

• Increasing technological development in medical devices is driving the market growth

Market CAGR for gastroscopes is being driven by growth and developments in the medical device industry for the production of cutting-edge gastroscopes. The increased number of gastroscope launches by important market participants around the world is anticipated to have a beneficial impact on market expansion. For instance, in February 2022, Ambu A/S, a Danish manufacturer of medical devices announced that the FDA had approved the Gastroscope. This is the first sterile, one-time-use gastroscope with cutting-edge imaging technology.

Additionally, a rise in the prevalence of gastroesophageal reflux disease and Barrett's oesophagus is anticipated to fuel the growth of the gastroscopes market. For instance, the National Library of Medicine estimates that in September 2020, 1.6% of the general population had Barrett's oesophagus.

The accessibility of a better healthcare infrastructure, the expansion of unmet medical needs, incidence of chronic diseases are anticipated to surge in demand for gastroscopes. The demand for better healthcare services is growing, and the government is making considerable investments to upgrade the healthcare infrastructure. As a result, the medical device business is expanding at a significant rate in emerging nations. Gastroscope demand is not just present in developed nations; it is also present in developing nations like China, Japan, and India, which contributes to the market's expansion. The adoption of gastroscopes is boosted by an increase in public awareness about the prevention and early diagnosis of chronic diseases including cancer and ulcers as well as by their accessibility.

For instance, in may 2020, the Globocan 2020 report estimates that 19.3 million new cases of gastric cancer and roughly 10 million cancer-related deaths. Thus, it is estimated that the market expansion over the projected years will be driven by rising demand for gastroscopy to identify cancer. Thus, driving the Gastroscopes market revenue.

Gastroscopes Market Segment Insights

Gastroscopes Types Insights

The  gastroscopes market segmentation, based on type includes standard gastroscopes, transnasal gastroscopes, therapeutic gastroscopes, dual channel gastroscopes and others. The dual channel gastroscopes segment is anticipated to highest CAGR. Gastric endoscopic submucosal dissection (ESD) takes less time to execute when using a double-channel gastroscope. In the ESD field of therapeutic gastroscopy, the double-channel gastroscope (DCG) offers the biggest potential for use and impact. Thus, over the course of the forecast period, the aforementioned reasons are anticipated to fuel segment growth for dual channel gastroscopes.

Gastroscopes Application Insights

The  gastroscopes market segmentation, based on application, includes drug contraindications, gastric ulcer, chronic gastritis (superficial gastritis and atrophic gastritis), normal mucosa and others. The chronic gastritis (superficial gastritis and atrophic gastritis) category accounted for the largest market share (70.4%). The third most prevalent cancer-related cause of death worldwide, stomach cancer is the 5TH most common cancer overall. A critical stage in the development of chronic gastritis is gastric mucosal atrophy. In order to stop the onset and progression of stomach cancer, it is crucial to diagnose atrophic gastritis at an early stage. Thus, gastroscopes are used to detect the early stage of chronic gastritis as it is observed more in patients.

Gastroscopes End User Insights

The  gastroscopes market segmentation, based on end user, includes hospitals & clinics, diagnostic labs, ambulatory surgical centers and others. The hospitals & clinics segment dominates the market during the forecast period. The most traditional setting for disease diagnosis and treatment is in hospitals is one of the factor anticipated to drive the market growth.  Furthermore, similar services are also offered at a reduced cost at clinics which is more convenient to patients.

Figure 1:  Gastroscopes Market, by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Gastroscopes Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Gastroscopes market area will dominate this market, owing to the presence of numerous significant players, including B Braun Melsungen AG and Stryker Corporation, as well as improvements in the gastroscope production technology. Additionally, the region's market for gastroscopes is expanding due to the growing elderly population. A strong healthcare infrastructure, wealthy consumers, and an increase in the adoption of sophisticated gastroscopes in hospitals and diagnostic labs are anticipated to propel market expansion. Moreover, the market is growing by the partnerships, new launches, and product approvals made by the major companies. For instance, Pantax Medical announced the release of a new video gastroscope in September 2020.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2:  TRANSRADIAL ACCESS DEVICES MARKET SHARE BY REGION 2022 (USD Billion)   

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Asia-Pacific Gastroscopes market accounts for the second-largest market share due to the region's presence of medical equipment businesses like Pantax Medical, Fujifilm Holdings, and Olympus Corporation, as well as the region's developing economies' rising purchasing power. Additionally, the adoption of cutting-edge gastroscopes and the rise in the prevalence rate of gastrointestinal illnesses fuel market expansion. Additionally, Asia-Pacific presents lucrative potential for major market participants in the esophagoscopes and gastroscopes space, resulting in the quickest growth rate throughout the course of the projection period. Moreover, China’s Gastroscopes market held the largest market share, and the Indian Gastroscopes market was the fastest growing market in the Asia-Pacific region.

The Europe Gastroscopes Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to increasing disposable incomes, expanding industry infrastructure, and expanding healthcare infrastructure. Moreover, the German Gastroscopes market held the largest market share, and the UK Gastroscopes market was the fastest growing market in the European region

Gastroscopes Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Gastroscopes market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Gastroscopes industry must offer cost-effective items.

The government and private businesses are making significant investments in R&D for technological advancements in the  Gastroscopes industry to benefit clients and increase the market sector. In recent years, the Gastroscopes industry has advantages for increasing awareness of disease early identification through minimally invasive surgical methods and the incidence of chronic conditions. Major players in the Gastroscopes market, including Fujifilm Holdings Corporation, SonoScape Medical Corp, Olympus Corporation , Co. KG, PENTAX MEDICAL, Perkin Elmer , Endomed Systems, Boston Scientific Corporation, SOFMEDICA, KARL STORZ GmbH & Cogentix Medical, and others, are attempting to increase market demand by investing in research and development operations.

Founded in 1934, Fuji Photo Film Co. Ltd. later changed its name to Fujifilm Holdings Corporation in 2006.For the fiscal year that ended on March 31, 2023, the revenue of the "Healthcare," "Materials," and "Imaging" segments of FUJIFILM Holdings Corporation was 2,020.9 billion, or FUJIFILM Corporation (consolidated). 38207 people work for Fujifilm Corporation as a whole, and its annual revenue for the fiscal year that ended on March 31, 2023, which also includes Fujifilm Business Innovation Corp., was 2859.0. Fujifilm utilises the skills we have developed in photographic film to engage in a broad spectrum of business across the three industries of healthcare, materials, and imaging. The company offers excellent goods and services that improve people's quality of life and advance society. FUFUJIFILM's gastroscopic systems advance medicine through a variety of technological innovations.

Olympus holds around 70% of the  market for gastrointestinal endoscopic equipment. They are creator of the first usable gastrocamera in history. The company is the owner of over 6,700 patents. Olympus Medical Systems work diligently to raise the standard of patient care. Comapny achieve this by creating and developing innovative, cutting-edge clinically precise technology and services. Devices manufactured by the company make it possible for medical experts from a variety of specialisations to perform endoscopic treatments that allow them to "peer" inside the body. They are able to see and do more as a result. The company’s goal is to enhance patient outcomes, reduce discomfort, and quicken the healing process by concentrating on early detection and minimally invasive treatment of a wide range of disorders. Additionally, cutting-edge products and services help boost productivity and operational effectiveness. The therapeutic gastroscope, the EVIS LUCERA ELITE Therapeutic Videogastroscope, offers high-definition image quality with better operability and approachability. In May 2021, Olympus Participates in International Medical Technology Film Series.

Key Companies in the Gastroscopes market include

• Fujifilm Holdings Corporation


• SonoScape Medical Corp


• Olympus Corporation


• KG


• PENTAX MEDICAL


• Perkin Elmer


• .Endomed Systems


• Boston Scientific Corporation


• SOFMEDICA


• KARL STORZ GmbH & Cogentix Medical

Gastroscopes Industry Developments

November 2022:The launch of PENTAX Medical's new Performance Endoscopic Ultrasound (EUS) system, which combines the brand-new ARIETTA 65 PX ultrasound scanner with their best-in-class J10 Series Ultrasound Gastroscopes. PENTAX Medical is a leader in the healthcare industry for diagnostic and therapeutic gastroscopy solutions.

April 2020:Olympus launched of EVIS X1, the most cutting-edge gastroscopic systems. The debut of EVIS X1, the company's most innovative gastroscopic system to date, was announced by Olympus Corporation. The new approach will boost outcomes from bronchial diseases, stomach, and oesophageal disorders by giving every gastroscopis cutting-edge equipment.

Gastroscopes Market Segmentation

Gastroscopes Type Outlook

• Standard Gastroscopes


• Transnasal Gastroscopes


• Therapeutic Gastroscopes


• Dual Channel Gastroscopes


• Others

Gastroscopes Application Outlook

• Contraindications


• Gastric Ulcer


• Chronic Gastritis


• Superficial Gastritis


• Atrophic Gastritis


• Normal Mucosa


• Others

Gastroscopes End User Outlook

• Hospitals


• Clinics

Gastroscopes Regional Outlook

• North America


• US


• Canada


• Europe


• Germany


• France


• UK


• Italy


• Spain


• Rest of Europe


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America