Gastrointestinal Devices Market by Product, Indication, End User

Description

List of Tables

[195 Pages Report] The Gastrointestinal Devices Market size was estimated at USD 7.54 billion in 2023 and expected to reach USD 8.11 billion in 2024, at a CAGR 7.67% to reach USD 12.65 billion by 2030.

Gastrointestinal devices are medical tools used to diagnose, treat, and manage disorders of the gastrointestinal tract and digestive system. These include a range of instruments such as endoscopes, biopsy devices, stents, and enteral feeding pumps. As the global population ages, there is an increase in gastrointestinal conditions that typically affect older adults, such as colorectal cancer and gastroesophageal reflux disease (GERD), driving the need for diagnostic and therapeutic gastrointestinal devices. As more governments and individuals prioritize healthcare, there is increased investment and funding in healthcare infrastructures, including advanced medical devices, for better disease management. However, gastrointestinal devices, especially those that are technologically advanced, can be complex to operate, requiring extensive training and expertise, which might not be readily available in all healthcare settings. Proper maintenance and strict sterilization protocols are critical to avoid infections and ensure the safety of both patients and healthcare providers, and any lapses can lead to serious health risks. Incorporating artificial intelligence and machine learning can enhance the diagnostic capabilities of gastrointestinal devices, leading to more precise and efficient patient care. Developing devices that offer better connectivity and remote monitoring capabilities to assist in the management of chronic gastrointestinal conditions can improve patient outcomes and reduce hospital visits.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.54 billion
Estimated Year [2024]	USD 8.11 billion
Forecast Year [2030]	USD 12.65 billion
CAGR (%)	7.67%

Regional Insights

The Americas region, particularly the U.S. and Canada, represents a robust landscape for gastrointestinal devices due to its advanced healthcare infrastructure and strong presence of major device manufacturers. Consumer needs in the Americas region are driven by the preference for minimally invasive procedures offering quicker recovery times and reduced hospital stays. Recent patents in the region have focused on improving diagnostic capabilities and patient comfort, such as innovative endoscopic cameras and new materials for stents. Investments are robust, often channeled into research for developing more precise and less invasive technologies. EU countries exhibit a diverse market with widespread acceptance of advanced medical technologies due to strong regulatory frameworks that emphasize patient safety and efficacy. The focus here is on enhancing the quality of life of the aging population, leading to a sustained adoption of gastrointestinal devices such as colonoscopes and capsule endoscopy devices. The EU's active promotion of healthcare research through frameworks such as Horizon Europe fosters innovation, particularly in personalized medicine and non-invasive treatments. APAC's market for gastrointestinal devices is rapidly expanding due to robust governmental health reforms aimed at providing comprehensive health insurance coverage and boosting local manufacturing. Consumers are increasingly accepting new gastrointestinal treatment technologies. Local innovation is supported by significant state-funded research initiatives aimed at developing less costly diagnostic devices and treatments.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Gastrointestinal Devices Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rising incidences of gastrointestinal disorders and diseases across the world
- Efforts by governments and foundations to raise awareness for gastrointestinal health and expand access to healthcare
- Favorable regulatory approvals for gastrointestinal devices

Market Restraints
- Incidences of product recall and performance issues of gastrointestinal devices

Market Opportunities
- Innovations to improve the functionality and efficiency of gastrointestinal devices
- Expansion of diagnostics and therapeutics centers and clinics offering gastrointestinal care

Market Challenges
- Complexities in managing and handling gastrointestinal devices

Market Segmentation Analysis
- Product: Critical role played by endoscopic devices in both diagnostic and therapeutic procedures across a broad range of gastrointestinal disorders
- Indication: Increasing prevalence of obesity owing to changes in diet and nutritional patterns

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Gastrointestinal Devices Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Gastrointestinal Devices Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Fujifilm Introduces Tracmotion ESD Device at Endocon 2024

Fujifilm unveiled its newest endoscopic device, Tracmotion, at Endocon 2024 in Delhi, a key event in gastroenterology advancements. Tracmotion, which has received the red dot award, enhances the endoscopic submucosal dissection (ESD) process, a vital, minimally invasive procedure used to remove precancerous and cancerous lesions in the gastrointestinal tract. The device enables a more precise and effective treatment by allowing surgeons to target and remove lesions while preserving healthy tissue, thereby facilitating early intervention in gastrointestinal diseases. [Published On: 2024-04-23]

FDA Grants De Novo Clearance to AnX Robotica's AI-assisted Endoscopy Tool, NaviCam ProScan

AnX Robotica, a U.S.-based manufacturing firm, has obtained de novo clearance from the FDA for its innovative tool, NaviCam ProScan. This advanced AI-assisted endoscopy device leverages convolutional neural networks (CNNs) to enhance diagnostic capabilities. Specifically, it employs deep learning to distinguish between healthy tissue and abnormal lesions during endoscopic procedures, promising significant improvements in the accuracy and efficiency of gastrointestinal diagnosis. [Published On: 2024-01-03]

Medtronic and Cosmo Amplify AI-Driven Endoscopy Collaboration with Expanded Partnership

Medtronic has committed USD 100 million upfront to enhance its exclusive global distribution agreement with Cosmo Intelligent Medical Devices, focusing on the GI Genius platform. GI Genius, which obtained de novo clearance in 2021, integrates machine learning to assist in identifying potential lesions during colonoscopies by marking areas of interest, aiding physicians in spotting polyps or suspected tumors more effectively. This extension of the collaboration underscores the integration of advanced technology in gastrointestinal diagnostics and the commitment to improving detection capabilities. [Published On: 2023-12-11]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Gastrointestinal Devices Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Gastrointestinal Devices Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Asahi Kasei Medical Co., Ltd., Becton, Dickinson and Company, Boston Scientific Corporation, CONMED Corporation, Cook Group Incorporated, Fujifilm Holdings Corporation, Getinge AB, Johnson & Johnson Services, Inc., Karl Storz SE & Co. KG, Leo Medical Co.,Ltd., Medtronic plc, Merit Medical Systems, Inc., Micro-Tech (Nanjing) Co., Ltd., Olympus Corporation, Ovesco Endoscopy AG, Pentax Medical by HOYA Corporation, Prion Medical BV, Richard Wolf GmbH, Siemens Healthineers AG, Smith+Nephew, STERIS Corporation, Stryker Corporation, Teleflex Incorporated, and W. L. Gore & Associates, Inc..

Market Segmentation & Coverage

This research report categorizes the Gastrointestinal Devices Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Biopsy Devices
- Endoscopic Devices
  - Capsule Endoscopy
  - Colonoscopes
  - Gastroscopes

Endoscopic Retrograde Cholangiopancreatography Devices
Gastric Bands
GI Stents
GI Videoscopes
Ostomy Products

Indication
- Colorectal Cancer
- Digestive & Excretory Disorders
- Gastrointestinal Diseases
- Obesity

End User
- Ambulatory Surgical Centers
- Diagnostic Centers
- Hospitals
- Specialty Clinics

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-7949F05839D3

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising incidences of gastrointestinal disorders and diseases across the world
  - 5.1.1.2. Efforts by governments and foundations to raise awareness for gastrointestinal health and expand access to healthcare
  - 5.1.1.3. Favorable regulatory approvals for gastrointestinal devices
- 5.1.2. Restraints
  - 5.1.2.1. Incidences of product recall and performance issues of gastrointestinal devices
- 5.1.3. Opportunities
  - 5.1.3.1. Innovations to improve the functionality and efficiency of gastrointestinal devices
  - 5.1.3.2. Expansion of diagnostics and therapeutics centers and clinics offering gastrointestinal care
- 5.1.4. Challenges
  - 5.1.4.1. Complexities in managing and handling gastrointestinal devices
5.2. Market Segmentation Analysis
- 5.2.1. Product: Critical role played by endoscopic devices in both diagnostic and therapeutic procedures across a broad range of gastrointestinal disorders
- 5.2.2. Indication: Increasing prevalence of obesity owing to changes in diet and nutritional patterns
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Gastrointestinal Devices Market, by Product

6.1. Introduction
6.2. Biopsy Devices
6.3. Endoscopic Devices
6.4. Endoscopic Retrograde Cholangiopancreatography Devices
6.5. Gastric Bands
6.6. GI Stents
6.7. GI Videoscopes
6.8. Ostomy Products

7. Gastrointestinal Devices Market, by Indication

7.1. Introduction
7.2. Colorectal Cancer
7.3. Digestive & Excretory Disorders
7.4. Gastrointestinal Diseases
7.5. Obesity

8. Gastrointestinal Devices Market, by End User

8.1. Introduction
8.2. Ambulatory Surgical Centers
8.3. Diagnostic Centers
8.4. Hospitals
8.5. Specialty Clinics

9. Americas Gastrointestinal Devices Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Gastrointestinal Devices Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Gastrointestinal Devices Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Fujifilm Introduces Tracmotion ESD Device at Endocon 2024
- 12.3.2. FDA Grants De Novo Clearance to AnX Robotica's AI-assisted Endoscopy Tool, NaviCam ProScan
- 12.3.3. Medtronic and Cosmo Amplify AI-Driven Endoscopy Collaboration with Expanded Partnership
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio