The global gastrointestinal devices market is forecast to reach USD 14.38 Billion by 2028, according to a new report by Reports and Data. The gastroenterology is the branch of medical science pertaining to the health of the digestive system, or the gastrointestinal (GI) tract. The gastrointestinal devices include all the equipment involved in the gastrointestinal procedures, diagnosis, treatment, analysis, testing, and others. Rising incidences of geriatric and pediatric gastroenterological disorders are some of the key reasons the market penetration for the gastrointestinal devices for the gastrointestinal procurement procedures and treatments are increasing year on year. Improving healthcare facilities in the developing regions are effectively helping in the market growth. Medical stores brand outlet is dominating the market but a higher growth rate has been forecasted for the online retailing sub-segment.

The North American market is forecasted to generate the highest revenue of USD 2.58 Billion in the year 2028, owing to its extensive demand for gastrointestinal devices in the hospitals and ambulatory surgery centers. Asia Pacific, with its elevated growth in the healthcare industry and escalating volumes of gastroenterological patients in China, India, and Japan, is likely to achieve a significant market share.  

Market Overview:

The pharma and healthcare industry is at a crossroads. Patients are benefiting from the promise of cell and gene therapies; uncommon diseases that were previously thought to be incurable are on the verge of finding true treatments. Artificial intelligence (AI) and machine-learning technologies are creating hopes that therapy discovery and development would be more innovative, as well as faster and cheaper. Manufacturing, the supply chain, and the entire healthcare ecosystem all have the potential to benefit from data-driven initiatives. Consumer attitudes and behaviours are shifting in a variety of ways, from growing use of technology and willingness to share data to an interest in using tools to make prescription and treatment decisions. Such factors will drive pharma and healthcare market growth in the coming years.
Some key highlights of the report:

• Online retailing supply of the medical instrument and devices has been trendy in the emerging nations like China and India mainly. Online retailers can offer reduced prices compared to the medical stores and offline vendors due to the non-involvement of the distributor chains in the process. This sub-segment is expected to grow at a CAGR of 8.3% during the forecast period.
• GI Videoscopes or gastrointestinal videoscopes had the market share of 27.5% in 2018, and the CAGR is forecasted to be 7.2% during the period 2019 – 2028. Video gastroscopes, video duodenoscopes, video enteroscopes, Video colonoscopies, Video sigmoidoscope are some of the highly used devices under this sub-segment.
• Ambulatory surgery centers are modern kind of healthcare facility centers, which are focused on providing immediate urological surgical care and releasing the patients right after the surgery. The ambulatory surgery centers have a more convenient alternative to the hospitals based outpatient procedures, maintaining a strong track record of quality care with positive patient outcomes. Ambulatory surgery centers had a market valuation of USD 1.11 Billion in 2018 and is expected to grow fastest at a rate of 10.1% throughout the forecast period. North America, with its vast demand for gastrointestinal devices in both hospitals ambulatory surgical centers sub-segment and escalating volume of geriatric gastroenterological disorders, is accounted to retain its superior position in the global market with a market share of about 35.3% by 2028.

 Key Players covered in this report are

Covidien Ltd, Boston Scientific Corporation, Johnson Johnson, CONMED Corporation, Stryker Corporation, Fujifilm Holdings Corporation, Becton, Dickinson and Company, B. Braun Melsungen AG, Medtronic PLC, and Cook Group Incorporated.

Devices Type Outlook (Revenue, USD Billion; 2018-2028)

• GI Videoscopes
• Biopsy Devices
• Endoscopic Retrograde Cholangiopancreatography Devices (ERCP)
• Capsule Endoscopy
• Endoscopic Ultrasound
• Endoscopic Mucosal Resection (EMR)
• Hemostasis Devices
• Others

Sales Channel Outlook (Revenue, USD Billion; 2018-2028)

• Online Retailing
• Medical Stores Brand Outlet

End-Users Outlook (Revenue, USD Billion; 2018-2028)

• Hospitals
• Clinics Dialysis Centers
• Ambulatory Surgical Center
• Others

Key Regional Markets Studied in the Report:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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