Esophagoscopes and Gastroscopes Market is slated to progress at a CAGR of 5.4% from 2023 to 2033
The global Esophagoscopes and Gastroscopes Market size, currently valued at US$ 1.2 billion, is expected to experience a compound annual growth rate (CAGR) of 5.4% and generate revenue of US$ 2.0 billion by 2033. Although these devices only account for 8% of the global endoscopes market, their sales are predicted to increase due to the growing preference for minimally invasive procedures, including laparoscopic equipment like arthroscopes, bronchoscopes, and laparoscopes.
Advancements in medical technology have led to a greater use of mechanical tools in diagnosing and treating esophageal disorders. This trend is expected to continue as the elderly population increases worldwide and cases of esophageal cancer rise. The expanding use of esophagoscopes in various diagnostic and surgical procedures is driving market growth, along with the growing prevalence of inflammatory bowel disease cases, which has fueled demand for devices with broad applications for early diagnosis.
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Despite the promising outlook for the market, contamination-induced infections, anesthesia-induced allergic reactions, and organ perforation pose significant risks to patients. These challenges are expected to limit market growth during the forecast period. Key players in the market should therefore prioritize the development of more efficient versions of these devices with fewer adverse effects.
The prevalence of gastrointestinal ailments has significantly increased in the United States. This is likely to rise more as obesity prevalence rises in the United States over the predicted period. Cases of stomach cancer, gastrointestinal haemorrhage, and functional gastrointestinal illnesses have all increased in the United States. As a result, the number of endoscopies conducted in the country has increased.
Some of the primary drivers driving the Esophagoscopes and Gastroscopes market in the United States include poor lifestyle choices, poor eating habits, and smoking. Over the projected period, sales of instruments such as laparoscopes, arthroscopes, bronchoscopes, gastroscopes, and so on are predicted to rise.
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Over the forecast period, exports of Esophagoscopes and Gastroscopes are predicted to increase from regions such as East Asia, South Asia, and the Pacific. The development of healthcare infrastructure, rising healthcare expenditure, rising technological proliferation, and other factors can all be related to the increase in demand in these locations.
Over the projection period, high birth rates in East Asia, South Asia, and the Pacific are likely to fuel demand growth for paediatric gastroscopes.
The MEA Esophagoscopes and Gastroscopes market has the smallest market share due to weak healthcare infrastructure in this area and less technological proliferation in medical operations. This is projected to alter over the forecast period, with the consumption of Esophagoscopes and Gastroscopes increasing.
Prominent players covered in the Global Esophagoscope and Gastroscope Market contain
- Shanghai AoHua Photoelectricity Endoscope Co. Ltd.
- Olympus Corporation
- Pentax Medical Company
- Fujifilm Holdings Corp.
- Karl Storz GmbH & Co. KG
All the players running in the Global Esophagoscope and Gastroscope Market are elaborated thoroughly in the Esophagoscope and Gastroscope Market report on the basis of proprietary technologies, distribution channels, industrial penetration, manufacturing processes, and revenue. In addition, the report examines R&D developments, legal policies, and strategies defining the competitiveness of the Esophagoscope and Gastroscope Market players.
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Esophagoscopes and Gastroscopes Market by Product Type:
- Rigid Endoscopes
- Flexible Endoscopes
Esophagoscopes and Gastroscopes Market by End User:
- Esophagoscopes and Gastroscopes for Hospitals
- Esophagoscopes and Gastroscopes for Ambulatory Surgical Centres
- Esophagoscopes and Gastroscopes for Specialty Clinics
- Esophagoscopes and Gastroscopes for Diagnostic Centres
Esophagoscopes and Gastroscopes Market by Region:
- North America Esophagoscopes and Gastroscopes Market
- Latin America Esophagoscopes and Gastroscopes Market
- Europe Esophagoscopes and Gastroscopes Market
- East Asia Esophagoscopes and Gastroscopes Market
- South Asia & Pacific Esophagoscopes and Gastroscopes Market
- Middle East & Africa Esophagoscopes and Gastroscopes Market
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