Endotherapy Devices Industry is anticipated to register 8% CAGR between 2022 and 2028 due to increasing incidence of gastrointestinal diseases along with rapidly aging population.
SELBYVILLE, Del., Feb. 16, 2022 /PRNewswire/ -- Global endotherapy devices market revenue is projected to reach over USD 7 billion by 2028, according to a new research report by Global Market Insights Inc. Growing prevalence of gastrointestinal diseases is expected to drive the industry growth.
The rapidly aging population is predicted to drive the market expansion in the near future. Gastrointestinal disorders are increasingly prevalent among the elderly population as aging affects multiple functions of the gastrointestinal system such as motility, enzyme & hormone secretion, digestion, and absorption among others. Owing to the impaired function of gastrointestinal system, medical conditions such as colorectal cancer, dyspepsia, irritable bowel syndrome, inflammatory bowel disease (Crohn's disease & ulcerative colitis), and other conditions are commonly prevalent in the elderly population.
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The gastrointestinal devices & accessories segment is expected to witness over 7.8% CAGR during the forecast period owing to the rising prevalence of gastrointestinal disorders, especially in developing countries. Several clinical studies have indicated the rapid surge in gastrointestinal diseases in Asian population during the past few years. The rise in the incidence & prevalence of these disorders will surge the number of gastrointestinal endoscopy procedures that require endotherapy devices while performing the procedure.
Some major findings of the endotherapy devices market report include:
- Rapidly aging population is poised to proliferate the market expansion.
- Technological advancements in endotherapy devices is expected to generate immense business growth opportunities.
- Competitors are focusing on strategic product launches, partnerships and geographical expansion to gain significant revenue share and cater to larger customer base.
Browse key industry insights spread across 450 pages with 524 market data tables & 15 figures & charts from the report, "Endotherapy Devices Market Analysis By Product (Gastrointestinal (GI) Devices & Accessories, Endoscopic Retrograde Cholangio Pancreatography (ERCP) Devices & Accessories), End-use (Hospitals, Ambulatory Surgical Centres), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2028" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/endotherapy-devices-market
Endotherapy Devices Market from hospitals segment held a majority market share of over 55% in 2021 and is set to witness 8.2% CAGR from 2022-2028 due to increasing patient influx and adoption of advanced devices to treat the patients. Gastrointestinal (GI) conditions such as irritable bowel syndrome (IBS), diverticulosis, and ulcerative colitis among others have a substantial impact on individuals' quality of life. Several patients are admitted to the emergency department at hospitals with GI diseases and comparatively, the hospital stays for GI cancers & other conditions were longer and costly.
Japan endotherapy devices market is expected to reach over USD 648 million by 2028 led by rising prevalence of gastrointestinal disorders, gastric cancers, growing diseased population, and well-developed healthcare infrastructure in the country. The high prevalence of these chronic ailments would promote the demand for endotherapy devices in Japan, thereby fuelling the business growth in the coming years.
Some of the major market players operating in the endotherapy devices industry are Olympus Corporation, Boston Scientific Corporation, Medtronic, Fujifilm Corporation, Cook Medical, Karl Storz, CONMED Corporation, and Taewoong Medical Co. LTD among others. These players are engaged in implementing numerous strategic initiatives such as collaborations, product launches, research activities to expand their product portfolio and market presence.
Sample Table of Content:
Chapter 3 Endotherapy Devices market Insights
3.1 Industry segmentation
3.2 Industry landscape
3.3 Industry impact factors
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By end-use
3.5 COVID-19 impact analysis
3.6 Pricing analysis,
3.7 Reimbursement scenario
3.8 Porter's analysis
3.9 Competitive landscape, 2021
3.9.1 Company matrix analysis, 2021
3.9.2 Global company market share analysis, 2021
3.10 PESTEL analysis
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/endotherapy-devices-market
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