As per Future Market Insights’ latest industry analysis, the valuation for the global Single-Use Gastroscopes Market revenue is expected to reach US$ 188.9 Million in 2023 and is projected to exhibit a CAGR growth of close to 15.6% over the forecast period, with an estimated valuation of US$ 807.8 Million in 2033.
Gastroscopes are medical instruments used to examine the inside of a person’s digestive tract, specifically the esophagus, stomach, and duodenum. They consist of a long, flexible tube with a camera and light source at the end, allowing doctors to see the inside of the digestive tract and potentially identify any issues or abnormalities. Gastroscopes are typically used during a procedure called an esophagogastroduodenoscopy (EGD) which involves inserting the scope through the mouth and down into the digestive tract.
Disposable gastroscopes eliminate the risk of cross-contamination and reduce the need for sterilization, making them more convenient and cost-effective for healthcare providers. Some manufacturers have also introduced single-use disposable gastroscopes that are lightweight, portable, and easy to use.
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- Gastroscopy device that is lightweight, portable, and easy to use is the ‘SlimView Gastrocam’. The SlimView Gastrocam is a cutting-edge gastroscopy system designed to provide efficient and comfortable examination of the gastrointestinal tract.
Manufacturers are investing heavily in research and development to create advanced gastroscopes that are more efficient, accurate, and patient-friendly.
- For instance, In May 2023, FDA has approved the new EVIS X1 endoscopy system from Olympus Corporation, along with two gastrointestinal endoscopes that are compatible with it: the GIF-1100 gastrointestinal videoscope, which is intended for use in the upper digestive tract, which includes the oesophagus, stomach, and duodenum.
The global Single-Use Gastroscopes market has been experiencing steady growth in recent years due to several factors, including the rising prevalence of gastrointestinal disorders, an aging population, and advancements in endoscopic technologies
Overall, these factors are contributing to the growth of the Single-Use Gastroscopes market, and are expected to continue to drive demand for effective and innovative applications options in the coming years.
Key Takeaways:
- GERD is the leading segment as application among patients and professionals, and held about 34.5% market share in 2022, gastroscopes allow doctors to directly visualize the inside of the esophagus and stomach, and to take biopsies or remove small tissue samples for further testing.
- By end user, the hospitals dominated the global Single-Use Gastroscopes market withholding the total market share of about 46.4% by the end of 2022, owing to the convenience and ease of accessibility to new technological advanced applications.
- By region, North America is leading in the global Single-Use Gastroscopes market with U.S. contributing around 94.5% value share to the regional market in 2022.
“Increasing adoption of Single-Use Gastroscopes and growing awareness and diagnosis of the gastrointestinal diseases to create lucrative potential for the market to grow,” says an analyst at Future Market Insights (FMI).
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Market Competition:
Major players in the single-use gastroscope market use partnerships, acquisitions, mergers, and other corporate growth strategies to expand their businesses. The focus of major players is on tactics like increasing sales and applying new technologies for the development of novel products.
- In January 2022, Two of PENTAX Medical’s most recent inventions, the i20c video endoscope series and PENTAX Medical INSPIRA, have received CE certification. The new video processor, which was created with the needs of healthcare providers in mind, retains compatibility with current endoscope models from PENTAX Medical while also setting new benchmarks when used with the i20c video endoscope generation.
- In April 2023, Boston Scientific acquired Apollo Endo-surgery. Apollo is involved in designing, development, and marketing of next-generation, less invasive medical devices. This acquisition will enhance Boston’s gastrointestinal therapeutic endoscopy and endobariatrics portfolio.
Key Players:
- Ambu A/S
- Boston Scientific Corporation
- Fujifilm Holdings Corporation
- HOYA Corporation
- Olympus Corporation
- Pentax Medical
- KARL STORZ SE & Co. KG
- Medtronic
- Others
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the Single-Use Gastroscopes market in its latest study, presenting a historical demand assessment of 2017 to 2022 and projections for 2023 to 2033. The global Single-Use Gastroscopes market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
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Key Segments Covered:
By Application:
- GERD
- Chronic Gastritis
- Gastric Ulcers
- Barrett’s Esophagus
- Others
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Diagnostic Centers
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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