Major players in the gastrointestinal devices market are Boston Scientific, Medtronic, Fujifilm Holdings Corporation, CONMED Corporation, Stryker Corporation, Johnson and Johnson, Olympus, Cook Group, Becton, Dickinson and Company, and B.

New York, May 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Gastrointestinal Devices Global Market Report 2021: COVID 19 Growth And Change to 2030" - https://www.reportlinker.com/p06071096/?utm_source=GNW
Braun Melsungen.

The global gastrointestinal devices market is expected to grow from $7.438 billion in 2020 to $7.902 billion in 2021 at a compound annual growth rate (CAGR) of 6.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $11.594 billion in 2025 at a CAGR of 10%.

The gastrointestinal devices market consists of sales of gastrointestinal devices and related services by entities (organizations, sole traders and partnerships) that manufacture gastrointestinal devices.These devices are used for the diagnosis and treatment of medical conditions related to the digestive system or the gastrointestinal tract.

Some of these products include gastroscope, enteroscope, and ultrasound endoscope. Only goods and services traded between entities or sold to end consumers are included.

Single-use disposable endcap of duodenoscope is increasingly being used to prevent contamination during endoscopic retrograde cholangiopancreatography (ERCP) procedures.Single-use disposable cap controls the infection and preserves the duodenoscope optics.

The USFDA recommended the hospitals and clinics to shift from reusable duodenoscopes to disposable parts duodenoscopes.The USFDA also approved the duodenoscope model featuring the disposable parts such as the PENTAX Medical ED34-i10T duodenoscope in November 2019, FUJIFILM Corporation duodenoscope model ED-580XT in March 2019, Olympus TJF-Q190V Duodenoscope in January 2020.

Olympus TJF-Q190V duodenoscope is used to perform the ERCP procedure with less risk of contamination due to the disposable distal endcap.

The gastrointestinal devices market covered in this report is segmented by product type into GI videoscopes; biopsy devices; endoscopic retrograde cholangiopancreatography devices (ERCP); capsule endoscopy; endoscopic ultrasound; endoscopic mucosal resection (EMR); hemostasis devices; others, and by end users into hospitals; clinics and dialysis centers; ambulatory surgical center.

In March 2018, Boston Scientific had acquired EMcision for an undisclosed amount.The acquisition expected to expand and strengthen Boston scientific endoscopy portfolio that includes the Habib EndoHPB probe.

The Habib EndoHPB probe is a new endoscopic bipolar radiofrequency device that coagulates tissue in the gastrointestinal (GI) tract.EMcision is a medical device company located in the United Kingdom and Canada.

EMcision product portfolio includes Habib EndoHPB, Habib Endolate, Habib VesCoag.

The increasing prevalence of gastrointestinal diseases contributed to the growth of the gastrointestinal devices market.Gastrointestinal diseases include irritable bowel syndrome, hemorrhoids, perianal abscesses, colon polyps, and cancer among others.

According to the Endoscopy Centre, every year 62 million Americans are diagnosed with any of the digestive diseases, and 2% to 6% or an estimated 3 lakhs to 5 lakhs Americans suffer from inflammatory bowel disease (IBD).According to the American College of Gastroenterology estimates, 10-15% of the adult population in the USA suffer from irritable bowel syndrome (IBS) symptoms.

The increased prevalence of gastrointestinal diseases increased the demand for gastrointestinal devices to treat patients, thereby driving the market growth.

High healthcare costs for treating gastrointestinal disease restrains the gastrointestinal devices market.According to the NEJM Journal Watch, a sister publication of New England Journal of Medicine, the overall healthcare expenditure for the gastrointestinal disease is around $136 billion annually which is more than heart disease healthcare expenditure ($113 billion), trauma expenditure ($103 billion), mental health expenditure ($99 billion), indicating the high expenses involved in treating gastrointestinal disease.

Moreover, a database analysis by American Gastroenterological Association states that patients with inflammatory bowel diseases (IBDs), chronic liver diseases (CLDs), functional gastrointestinal disorders (FGIDs), gastrointestinal hemorrhage are hospitalized at least once and are high-need and high-cost patients contributing disproportionately to hospitalization costs.In this context, they are the ones who are accessing inpatient services and need immense care due to functional limitation increasing the expenditure.

The high healthcare expenditure for gastrointestinal disease forces the majority population to refrain from receiving treatment in non-emergency cases, which negatively impacts the growth of the gastrointestinal devices market.


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