It is expected that the global gastroscope and esophagoscope industry, currently valued at US$ 1.2 billion in 2023, would grow at a CAGR of 5.4%. By the end of 2033, the market is projected to be valued US$ 2.0 billion.
Medical technology has been changed by gastrointestinal (GI) endoscopy, which enables doctors to examine and diagnose a wide range of digestive system illnesses. Esophagoscopes and Gastroscopes Market are two key tools in this industry. The oesophagus, stomach, and upper gastrointestinal system must be examined with the help of these adaptable, minimally intrusive equipment. We’ll examine how gastroscopes and esophagogastroscopes are used, developed, and affect patient treatment.
Esophoscopes are specific tools used to examine the oesophagus, the muscular tube bridging the throat and the stomach. These adaptable endoscopes allow medical professionals to examine the oesophageal lining, spot anomalies, and carry out interventions. A flexible insertion tube, a light source, a camera, and a conduit for other pieces of equipment make up the core components of an esophagoscope.
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Gastroscopes, on the other hand, are tools used to peer within the stomach and upper gastrointestinal tract. Similar to esophagoscopes, gastroscopes have a flexible insertion tube, a light source, a camera, and passageways for other devices. They provide informative information about the inner lining of the stomach that aids in the diagnosis and treatment of a variety of gastrointestinal illnesses.
Technological Innovations Work in Market’s Favor:
Innovations in the medical sector have led to a rise in the application of mechanical instruments for treating and diagnosing esophageal ailments. Since the geriatric population is globally growing, instances of esophageal cancer are rapidly rising.
The utility of esophagoscopes for a plethora of diagnostic as well as surgical processes is aiding the market growth. The recent increase in the instances of global inflammatory bowel disease cases has shifted market trends. This has propelled the need for wide application devices for early disease detection. Such factors are cohesively fostering the fruitful application of advanced esophagoscopes and gastroscopes in the healthcare sector.
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Medical Use Linked to Infection & Allergies, Market Prospects Impacted:
Despite the steadily improving market prospects, there are factors such as the risk of infection from contamination, anesthesia-induced allergic reactions, and organ perforation risks. These factors are expected to hinder market growth during the forecast period. Key players need to focus on developing variants that are more efficient and pose fewer side effects.
Soaring Product Costs Impact the Market Growth Rate:
Currently, the advanced endoscopes available in the market are expensive. This can be attributed to the use of specialized components in their manufacturing processes. Hence, there is a need to develop a cheaper alternative for the sophisticated components of these advanced models. This would open up the market to a larger consumer segment, triggering steady revenue increment.
As Key Players Consolidate their Position, New Entrants Need to Innovate:
Recent market trends have revealed that key players are driving product innovations using advanced technologies. This is to aid product application in the highly competitive medical device manufacturing sphere. Hence, new entrants need to carefully harness niche technologies for specific applications. By identifying gaps in the current market, startups could overtake key players.
Key Takeaways from the Report:
- The esophagoscopes and gastroscope market rose at 4.9% CAGR from 2017 to 2022, with sales revenue in 2022 reaching US$ 1.1 billion.
- During the forecast period, the United States market is expected to register a CAGR of 5.8% and attain a value of US$ 648.5 million by 2033.
- During the forecast period, the Indian market is expected to register a CAGR of 6.2%.
- The hospital end-user segment is expected to register a CAGR of 5.2% during the forecast period.
- The flexible endoscope segment dominates the market by product type at a CAGR of 5.0%, predicted between 2023 and 2033.
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Recent Market Developments:
- In September 2020, PENTAX Medical launched its latest innovation: video gastroscopes. This product line was named the J10 Series Ultrasound Video Gastroscopes. These are equipped with comes with linear scope scans as well as advanced frequency capabilities
- In October 2021, FUJIFILM Healthcare Americas Corporation launched its new endoscope variant – Fujifilm’s EI-740D/S. It is a dual-channel endoscope approved by the FDA. It can be used for the diagnosis and treatment of both the upper and lower gastrointestinal tract.
- In February 2022, Ambu A/S gained FDA clearance for their latest gastroscope variant.
Key Market Players:
- Shanghai AoHua Photoelectricity Endoscope Co. Ltd.
- Olympus Corporation
- Pentax Medical Company
- Fujifilm Holdings Corp.
- Karl Storz GmbH & Co. KG
Key Segments of Esophagoscopes and Gastroscopes Industry Survey:
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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