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Gastroscopes Market Growth Projections and Opportunities
The global gastroscope market is expected to reach USD 2,070.71 million by 2023, showing a 6.9% annual growth from USD 1,303.59 million in 2016.
Gastroscopy is a medical procedure where a flexible tube called a gastroscope is used to look inside the esophagus, stomach, and small intestine. It helps doctors check for any issues in the digestive system. The procedure can also be used to take a small sample (biopsy) to diagnose diseases like coeliac disease or to test for a bacterium called Helicobacter pylori, which can cause stomach and intestinal ulcers.
People might need a gastroscopy if they experience symptoms like stomach pain, anemia (low red blood cell count), heartburn, indigestion, or difficulty swallowing. The test helps confirm conditions such as stomach ulcers, stomach cancer, esophageal cancer, gastro-esophageal reflux disease (GORD), Barrett's esophagus, and coeliac disease.
Different types of gastroscopes are used for this procedure, depending on its purpose. The market for gastroscopes is growing due to an increase in gastrointestinal diseases, a growing older population, and a higher demand for advanced diagnostic tools. However, the repetitive use of gastroscopes in hospitals can lead to infections, which is a challenge for market growth. Additionally, competition among existing players in the market makes it difficult for new companies to enter.
To maintain the health and safety of patients, it's important to be cautious about the potential risk of infection due to the repeated use of gastroscopes in medical settings. The accumulation of bio-dirt on the gastroscope can pose a threat to patients undergoing the procedure. This concern is a significant obstacle to the growth of the gastroscopes market.
Furthermore, the market faces challenges for new companies trying to enter the field. The competition among existing key players is intense, acting as a barrier for newcomers. These established companies have a strong presence and reputation in the market, making it difficult for others to establish themselves.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 2.5 Billion |
| Market Size Value In 2023 | USD 2.68 Billion |
| Growth Rate | 7.20% (2023-2032) |
Gastroscopes Market Highlights:
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