Global Gastrointestinal Endoscopy Market Set to Witness an Uptick of 6.8% CAGR Through 2028

By Ashwin Naphade  | Date: January 09, 2023

Global Gastrointestinal Endoscopy Market Set to Witness an Uptick of 6.8% CAGR Through 2028

Recent citations in the research report titled ‘Global Gastrointestinal Endoscopy Market’ available with MarketStudyReport identify that global gastrointestinal endoscopy market was worth USD 4.7 billion in 2021 and is expected to grow at a healthy CAGR of 6.8% during the assessment period, eventually accruing a sustainable valuation by the end of 2028.

Increasing prevalence of gastrointestinal diseases due to rapidly changing lifestyles and repeated consumption of junk food are the primary factors accelerating global gastrointestinal endoscopy market profitability during 2022-2028.

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For those unaware, gastrointestinal endoscopy refers to a minimally invasive diagnostic and therapeutic procedure that is vital for detecting digestive system bleeding, abnormal colon growths, and other gastrointestinal or abdominal anomalies inside the gastrointestinal tract.

In addition, increase in geriatric population levels with a prolonged medical history of GI disorders, penetration of colon or rectum cancer, and other chronic illnesses coupled with booming popularity of weight loss surgeries among women are likely to accelerate the profitability graph of the market in the coming years.

Despite the positive outlook, market expansion is bound to suffer significantly over the analysis timeframe due to the expensive nature of the procedure, lack of expertise in the field, and an unappealing reimbursement policy.

Moving on, based on product, worldwide gastrointestinal endoscopy marketplace is fragmented into reflux testing systems, ECRP devices, capsule endoscopy devices, hemostasis devices, biopsy devices, GI videoscopes, stent systems, and others. In terms of end-user, the business sphere is categorized into clinics, hospitals, and others (ASCs).

From a geographical standpoint, North America, Eastern & Western Europe, Asia Pacific, Latin America, and Middle East & Africa are the key regions that contribute substantially to overall market revenue during the study period.

The competitive landscape of global gastrointestinal endoscopy industry is predominantly influenced by prominent players such as Medtronic plc, Steris Corporation, Telemed Systems Inc., Leufen Medical GmbH, B Braun Melsungen AG, Jinshan Science & Technology Co. Ltd., Hobbs Medical, Inc., Albyn Medical Ltd., Smith & Nephew plc, Covidien Ltd., Conmed Corporation, Johnson & Johnson Services Inc., Stryker Corporation, Fujifilm Corporation, Boston Scientific Corporation, and Olympus Corporation.

Questions and Answers: -

Question 1. What are the major factors driving global gastrointestinal endoscopy market growth?

Answer 1. Increasing prevalence of gastrointestinal diseases due to rapidly changing lifestyles and repeated consumption of junk food are the major factors driving global gastrointestinal endoscopy market growth.

Question 2. Which are the key regions contributing substantially to global gastrointestinal endoscopy market revenue?

Answer 2. North America, Eastern & Western Europe, Asia Pacific, Latin America, and Middle East & Africa are the key regions that contribute substantially to global gastrointestinal endoscopy market revenue during 2022-2028.

Question 3. Which are the prominent players influencing global gastrointestinal endoscopy market trends?

Answer 3. Medtronic plc, Steris Corporation, Telemed Systems Inc., Leufen Medical GmbH, B Braun Melsungen AG, Jinshan Science & Technology Co. Ltd., Hobbs Medical, Inc., Albyn Medical Ltd., Smith & Nephew plc, Covidien Ltd., Conmed Corporation, Johnson & Johnson Services Inc., Stryker Corporation, Fujifilm Corporation, Boston Scientific Corporation, and Olympus Corporation are the prominent players influencing global gastrointestinal endoscopy market trends.

For more details on this report: https://www.marketstudyreport.com/reports/global-gastrointestinal-endoscopy-market-analysis-and-forecast-2019-2028/

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About Author

Ashwin Naphade     ibmag.com

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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