A gastroscope is defined as an optical
instrument that is used for inspecting the interior of the stomach. A new
report on the global gastroscopes market, published by Market Research Future
(MRFR), states that this market can visualize progress at 6.9% CAGR during the
forecast period. In terms of money value, the market can be worth USD 2,070.71
Mn by the end of the forecast period.
The most remarkable market driver for
the global gastroscopes market growth is increasing the prevalence of gastric
ailments. The gastroscope is always necessary for performing a medical
procedure called Gastroscopy that is useful for observing the internal
structure or parts of the esophagus, stomach, and small intestine. Other market
drivers that fuel the global gastroscopes market growth include rising
prevalence of the gastrointestinal disease, demand for technologically advanced
gastroscopes providing high-quality images, product expansion, and lastly,
strategies such as merger & acquisition.
However, some factors that can hamper the global gastroscopes market
growth include high cost of gastroscopes and risk of infection.
Market Segmentation
The global gastroscopes market research report segmentation encompasses
application, end-user, and type. MRFR’s take on the market marks various facets
of the market in-depth.
The application-based segmentation of
this market covers contraindications, chronic gastritis, gastric ulcer, normal
mucosa, and others. The chronic gastritis segment can be sub-segmented into
atrophic gastritis and superficial gastritis.
Based on end-user, the market has been
segmented into ambulatory surgical centers, diagnostic labs, hospitals &
clinics, and others. By type, the market has been segmented into dual-channel
gastroscopes, standard gastroscopes, therapeutic gastroscopes, and transnasal
gastroscopes.
Key Players
Big players in the global gastroscopes
market are Boston Scientific Corporation (USA), Cogentix Medical (USA), Endomed
Systems GmbH (Germany), Fujifilm Holdings Corporation (Japan), KARL STORZ GmbH
& Co. KG. (Germany), Olympus Corporation (Japan), PENTAX Medical Company
(Japan), Perkin Elmer (USA), SofMedica (Romania), and SonoScape Medical Corp.
(China).
Regional Segmentation
A geographical outlining of the global gastroscopes market report covers the Americas (North America
& Latin America), Asia Pacific, Europe, and the Middle East & Africa
(MEA).
The Americas is the biggest regional
market as North America alone has the potential of becoming a powerful regional
market. Due to the advanced medical facilities being available in the USA and
the presence of key market players, North America is a larger regional market
segment compared to Latin America. The market has been seen growing in North
America due to the increasing adoption of new technologies for the detection of
gastric cancer, stomach ulcer, and other gastrointestinal diseases. Due to the
rising number of gastroscopies performed in the hospitals and diagnostic
centers, the demand, as well as the market for gastroscopes, is going up. The
rising prevalence of digestive conditions such as dyspepsia and dysphagia is
also boosting the market in this region. USA and Canada are generating the
maximum revenue in this region.
During the forecast period, Europe can
be the second largest regional market due to increasing geriatric population
and the prevalence of gastrointestinal disorders like Barrett's esophagus,
esophageal cancer, and inflammatory bowel disease. Due to the reasons the same
as in The Americas, Western Europe is a bigger market compared to Eastern
Europe. The outstanding country-specific markets in this region are France,
Germany, Italy, Spain, and the UK.
During the forecast period, the Asia
Pacific region can be the fastest growing regional market due to the increasing
prevalence of gastrointestinal diseases like colorectal cancer, Crohn’s disease
(CD), gastroesophageal reflux disease, and inflammatory bowel disease (IBD).
The rising demand for gastroscopies, rising geriatric population, and
availability of high quality as well as affordable treatment options are also
boosting the market growth. India and China are the biggest country-specific
markets in this region due to the improving healthcare sector. Other
country-specific markets of note in this region are Australia, Japan, and South
Korea.
During the forecast period, the MEA
region can witness steady growth due to rising demand for diagnostic devices
and improving the infrastructure of the healthcare system.
Latest Industry News
·
American
company K.P.I. Health Care has given medical equipment worth D26 Mn to Edward
Francis Small Teaching Hospital (EFSTH) of Gambia. The equipment included
Philips HD-15 with 55-2 PureWave Cardinal sector, Samsung HM-70A Portable 4D
Diagnostic Ultrasound; and Upper GI
Endoscope (Gastroscope). 20 AUG 2019
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