Dublin, Sept. 06, 2024 (GLOBE NEWSWIRE) -- The "Gastrointestinal Products Market by Devices (Endoscopy, Ablation System, Motility Testing, Biopsy Devices, Stenting Devices, PH Monitoring), Diseases (GERD), (IBD), Gastrointestinal Cancer), End-User (Hospitals, ASC) - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Gastroenterology/Gastrointestinal Products market is projected to reach USD 19.7 billion by 2029 from USD 14.7 billion in 2024, at a CAGR of 6.1% from 2024 to 2029
The market for gastroenterology and gastrointestinal products is driven by several factors, such as the growing incidence of GI disorders, improvements in technology, aging populations, rising healthcare costs, increased awareness and screening initiatives, rising R&D spending, the need for personalized medicine, and economic expansion in emerging markets. The GI product industry is dynamic and ever-evolving due to the combined influence of these drivers.
The endoscopy segment from the devices segment accounted for the largest share during the forecast period
The Gastroenterology/Gastrointestinal product market is divided into Endoscopy, Ablations systems, Motility testing, Stenting devices, Ph monitoring, and other devices. The endoscopy segment accounted for the largest share during the forecast period. Endoscopic techniques enable the removal of polyps, tissue biopsies, stent implantation, and tumor ablation, among other therapeutic and diagnostic treatments. These developments support endoscopy's increasing use for a range of gastrointestinal disorders.
The GERD segment in the diseases segment accounted for the largest share during the forecast period
The increasing prevalence of GERD, driven by lifestyle factors, obesity, aging populations, and enhanced diagnostic and treatment options, is significantly boosting the share of the gastroenterology market. As awareness grows and technological advancements continue, the demand for gastroenterological products and services is expected to rise, further driving market growth. As the global population ages, the incidence of GERD increases. Older adults are more susceptible to GERD due to changes in esophageal motility and the function of the lower esophageal sphincter.
APAC is estimated to register the highest CAGR during the forecast period
The Gastroenterology/Gastrointestinal Products Market is divided into Five regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa. The Asia Pacific is witnessed to have the highest CAGR during the forecast period. Many APAC countries, including Japan, South Korea, and China, are witnessing demographic shifts as their populations age. Older persons have a higher prevalence of diseases like GERD and complex healthcare needs.
Reasons to Buy the Report
- Analysis of key drivers (increasing GI diseases, technological advancements), restraints (Cost of the system), challenges(regulatory policies), and opportunities (Increase in the minimally invasive procedures) contributing to the growth of the Gastroenterology/Gastrointestinal Products Market.
- Product Development/Innovation: Detailed insights on upcoming trends, research & development activities, in the Gastroenterology/Gastrointestinal Products Market.
- Market Development: Comprehensive information on the lucrative emerging markets by devices, diseases, end-users and region.
- Market Diversification: Exhaustive information about the growing geographies, recent developments, and investments in the Gastroenterology/Gastrointestinal Products Market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, company evaluation quadrant, and capabilities of leading players in the global Gastroenterology/Gastrointestinal Products Market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 375 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $14.7 Billion |
| Forecasted Market Value (USD) by 2029 | $19.7 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
Companies Featured
- Olympus Corporation
- Boston Scientific Corporation
- Medtronic PLC
- Stryker Corporation
- Cook Medical
- Fujifilm Corporation
- Conmed Corporation
- Ethicon (a Johnson & Johnson Subsidiary)
- Merit Medical Systems
- Steris PLC
- Karl Storz SE & Co. KG
- Shaili Endoscopy
- Taewoong Medical Co. Ltd.
- Hobbs Medical, Inc.
- Pentax Medical
- Erbe Elektromedizin
- Ambu a/S
- Capsovision, Inc.
- Intromedic, Inc.
- Vimex Endoscopy
- Trivitron Healthcare
- Medi-Globe Corporation
- Sonoscape Medical Corp.
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
- Medspira
For more information about this report visit https://www.researchandmarkets.com/r/jrhzfj
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
