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The growth of the Gastrointestinal Devices MedTech market is being driven by an ageing population, an increase in GI procedures, an increase in cases of colorectal cancer, and screening requirements in many healthcare systems. Growing robotics use and focus to AI are providing further momentum for market expansion.

Global Gastrointestinal Devices MedTech market pegged at $13-14 billion in 2021, growing at a rate of 5%. Increased usage of single-use endoscopes, robots, and an increasing focus on AI in surgeries will be the main drivers of market expansion.

Medi-Tech Insights’ latest research report on Gastrointestinal Devices MedTech market analyses the worldwide market with respect to product and geography.

The Gastrointestinal Devices MedTech market is divided into four product-specific segments: GI endoscopes, endotherapy devices, laparoscopes, and laparoscopic devices. It is evident from our research and interviews with industry professionals that the largest product segment is GI endoscopes. Within endoscope market, reusable endoscopes form major chunk of the market, owing to the fact that they are high-cost capital equipment with relatively greater adoption. However, single-use endoscope market is anticipated to expand more quickly. Shift driven by relatively lower acquisition cost, lower level of training & skills, no reprocessing cost and no risk of cross-contamination. Ambu and Boston Scientific are two major companies that offer single-use endoscopes.

“Currently, penetration of single-use endoscopes in GI is <5%. It is expected to increase to 10-15% in the next 5 years.”– CEO, Leading Gastrointestinal MedTech Company

Geographic Snapshot: Gastrointestinal Devices MedTech Market

Comprehensive regional and country-level assessment of the global Gastrointestinal Devices MedTech market covering U.S., Europe, Asia-Pacific and Rest of the World indicates that the U.S. is likely to dominate the market over the next five years while China will grow faster than other geographic areas.

Explore Premium Report on Gastrointestinal Devices MedTech Market @ https://meditechinsights.com/gastrointestinal-devices-medtech-market/

Gastrointestinal Devices MedTech market benefits from presence of large players like Olympus and Boston Scientific (BSX) but number of start-up companies have emerged especially in AI, single-use instruments

Four significant market segments are GI endoscopes, endotherapy devices, laparoscopes, and laparoscopic equipment. The top 3 endoscope companies are Olympus, Fujifilm, and Hoya with Olympus alone accounting for major chunk. Endotherapy devices is the fastest increasing market segment and is dominated by BSX with more than 50% market share. Laparoscope’s market is dominated by Stryker, Karl Storz, and Olympus. On the other hand, top 5 players accounted for more than 70% share of laparoscopic devices market.

Artificial intelligence (AI) and single-use endoscopy have attracted PE investment recently

Traditional endoscopy has a long history in healthcare, however the images produced by the procedure are assessed by clinicians, which might result in a wide range of interpretations. However, AI-assisted endoscopy is perceived to have potential to provide consistent results and improve patient care owing to which PEs are investing in AI providers. For instance, in August 2021, Iterative Scopes raised $30 mi Series A Financing to Advance AI-Driven Precision Medicine for Gastroenterology. Similar to this, single-use endoscopy is expected to be a priority area in the next years as major players have already begun to include them to their portfolios. Also, smaller/niche players are receiving funding. For instance, in October 2021, IQ endoscope received £4 mi (~$5 mi) for supporting regulatory approval process for its single use flexible gastroscope, as well as accelerating the development of its single use flexible colonoscope.

For More Detailed Insights, Contact Us @ https://meditechinsights.com/contact-us/

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

Contact:

Ruta Halde

Associate, Medi-Tech Insights

+32 498 86 80 79

info@meditechinsights.com

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