31-Aug-2018 | Zion Market Research
With the presence of a large pool of participants, the global gastrointestinal endoscopic devices market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Stryker Corporation, Conmed Corporation, Covidien Ltd., Boston Scientific Corporation, and Fujinon Ltd are some of the key vendors of gastrointestinal endoscopic devices across the world. These players across gastrointestinal endoscopic devices market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key growth strategy across gastrointestinal endoscopic devices market, states the study.
Citing an instance, in June 2017, US Endoscopy, a dominant player across endoscopy equipment design & manufacturing industry launched a new AquaShield® system CO2 – Fujinon, thereby adding to its existing AquaShield water bottle system portfolio. Sources cite that the innovative product is used along with CO2 to provide sterilized water to endoscope while performing of gastrointestinal procedures. The strategic move is anticipated to encourage other industry players to follow the suit, thereby leading to inflation in the growth of gastrointestinal endoscopic devices market.
This review is based on a report by Zion Market Research, titled "Gastrointestinal Endoscopic Devices Market (Hemostatis Devices, Biopsy Devices, Endoscopic Retrograde Cholangiopancreatography Devices (ERCP), Capsule Endoscopes, GI Videoscopes, and Others): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021"- Report at http://www.zionmarketresearch.com/report/gastrointestinal-endoscopic-devices-market
As estimated in this report, the global gastrointestinal endoscopic devices market stood at US$ 5.6 billion in 2015. Witnessing a tremendous rise during the period from 2015 to 2021, the revenue in gastrointestinal endoscopic devices market is expected to reach US$ 8.5 billion by the end of the forecast period. The main products available in gastrointestinal endoscopic devices market are hemostatis devices, GI Videoscopes, capsule endoscopes, biopsy devices, and retrograde cholangiopancreatography devices. Among them, the demand for GI Videoscopes is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Rising Geriatric Population & Large Intake Of Fast Food To Propel Growth
“Shifting lifestyles, lack of physical activities, and growing intake of junk food leading to various gastrointestinal disorders is projected to steer the growth of gastrointestinal endoscopic devices market over the coming years,” says the author of this study. Apart from this, surge in the number of patients with colon & rectum cancer and increase in the geriatric population base affected as a result of gastrointestinal disorders is anticipated to push the gastrointestinal endoscopic devices market demand.
Fear of hospital acquired infections as a result of endoscopic devices, unfavorable compensation policies, and low government investments in GI devices production, however, is anticipated to hinder the gastrointestinal endoscopic devices market growth in the near future.
Huge Healthcare Investments To Assist North America Maintain Dominance
Regionally, North America has been leading the worldwide gastrointestinal endoscopic devices market and is anticipated to continue on the dominant position in the years to come, states the market study. For the record, North America contributed over 30% towards global gastrointestinal endoscopic devices market share in 2015.
Rising healthcare funding, technological innovations, and escalating patient awareness associated with early disease diagnosis are the key factors behind the dominance of the North America gastrointestinal endoscopic devices market.
The global gastrointestinal endoscopic devices market is segmented as follows:
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