Gastrointestinal Products Market

Gastrointestinal Products Market Size, Share & Trends

The gastrointestinal products market is expected to generate a revenue of USD 19.7 billion by 2029, with a revenue of USD 14.7 billion in 2024 to register a CAGR of 6.1%. Market growth can be attributed to the growing prevalence of gastrointestinal diseases such as Crohn's disease, ulcerative colitis, irritable bowel syndrome (IBS), and colorectal cancer, which drives the demand for diagnostic and therapeutic products. Poor dietary habits, sedentary lifestyles, and increasing stress levels contribute to the rise in GI disorders, thereby boosting the market.

Gastroenterology devices are becoming increasingly innovative. Next-generation endoscopy technologies, like high-definition imaging and narrow-band imaging, develop better visualization throughout the procedure. Another important trend is the integration of AI and machine learning, which provide real-time analysis and early identification of conditions such as colorectal cancer. Capsule endoscopy, where one swallows a small camera that captures the image of the GI tract, is gaining popularity in non-invasive diagnostics. Robotic-assisted devices are also becoming popular.

Gastroenterology Products Market Trends

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Global Gastrointestinal Products Market Dynamics

Driver: Increased prevalence of GI disorders

The increasing incidence of gastrointestinal disorders is a key factor driving growth in the gastrointestinal products market. The incidence of GI disorders, such as Crohn's disease, ulcerative colitis, irritable bowel syndrome, and colorectal cancer, is increasing across the globe. This will, in turn, increase the demand for diagnostic and associated therapeutic interventions. Other contributing factors for this increased prevalence of diseases (such as colorectal cancer, inflammatory bowel disease, and gastroesophageal reflux disease) include the rapidly increasing geriatric population, unhealthy lifestyles, and poor eating habits. There is a growing demand for sophisticated medical devices in diagnosing, monitoring, and treating such diseases with a high degree of accuracy due to the increasing prevalence of these diseases. It is this surge in demand that fuels innovations and investments in the development of new and improved gastrointestinal devices, such as endoscopes and imaging systems.

Restraint: Stringent regulatory policies for GI products

A major restraint in the gastroenterology product market is the stringent regulatory policies, which create strong barriers against the development and commercialization of new treatment solutions. Regulatory approvals for GI products require detailed development processes, including extensive preclinical studies, prolonged clinical trials, and comprehensive assessments of safety and efficacy. These steps are costly and time-consuming, which invariably delays the launch of innovative products. Furthermore, the high expenses associated with complying with such regulatory requirements may be prohibitive, particularly for smaller companies with limited financial resources. These challenges are further magnified by the need for constant post-marketing surveillance to monitor the long-term safety impact, which further entails financial and administrative investments. As a result, the pace of innovation is slow, potentially delaying the development of effective treatments for GI disorders and impacting overall market growth.

Opportunity: Increasing preference for minimally invasive procedures for gastrointestinal diseases

Minimally invasive surgeries, such as laparoscopy, have been replacing open surgery in the past few years due to improved survival, fewer complications, and rapid recoveries. These less-invasive surgeries involve very small incisions, less pain, and allow for faster recovery. Patients spend less time in the hospital and recover faster with fewer complications, such as infections, hernias, and adhesions, and less scarring inside and out. This is a key opportunity area for players in the gastrointestinal products market.

Challenge: Regulatory landscape for medical devices

New regulations make it difficult for device manufacturers to realize profits. Enhanced requirements regarding scientific studies and clinical trials raise device development costs. The procedure for approving devices and maintaining their certification is time-consuming. Not only does this challenge the revenue margins for manufacturers, but it also increases the device costs for customers. This could be of special concern to small device manufacturers or start-ups, who may find it hard to secure funds for stricter rules of device documentation and clinical testing.

Gastrointestinal Products Industry Ecosystem

The devices segment witnessed the highest growth in the global gastrointestinal products industry during the forecast period.

Based on devices, the gastrointestinal products market is segmented into endoscopy devices, ablation devices, motility testing devices, biopsy devices, stenting devices, pH monitoring devices, and other gastroenterology devices. The endoscopy devices segment accounted for the largest market share in 2023. These devices are of vital importance for the diagnosis and treatment of various gastrointestinal diseases. In minimally invasive endoscopy procedures, there is better visualization of the digestive tract, which especially permits accurate diagnosis, early detection of diseases such as cancer, and proper treatment by polyp removal or bleeding arrest. The demand for endoscopic apparatuses comes as a result of the rising incidence of gastrointestinal diseases and the versatility of endoscopy in therapeutic and diagnostic applications. Moreover, technological innovations, like high-definition imaging and capsule endoscopy, further improve the scope and success rate of endoscopic procedures.

Gastrointestinal cancers commanded the largest share of the gastroenterology products industry, by disease, in 2023.

Gastrointestinal cancers are becoming more frequent due to demographic changes, most commonly as a result of aging populations, lifestyle modifications, and environmental factors. Other risk factors include unhealthy diets, obesity, smoking, and alcohol consumption, which increase the chances of cancers arising in the digestive system. The increasing prevalence of other types of infections, like Helicobacter pylori and Hepatitis, which give way to stomach and liver cancers, also adds to the overall disease burden. Gastrointestinal cancers constitute a large portion of the global cancer burden since they lead to cancers of the organs that play a crucial role in the body's digestive and metabolic processes—the stomach, liver, pancreas, and colon. These complex factors, including stage diagnosis and treatment challenges, contribute to the significant impact of cancers on global cancer mortality and healthcare expenses.

Hospitals account for the largest share of the gastrointestinal products industry, by end user, during the forecast period.

Gastrointestinal disorders often demand the utilization of high-end imaging technology, endoscopic procedures, and surgery, which are usually undertaken within hospital settings. This is because hospitals have the capability and infrastructure to provide inpatient care services in addition to all the patient care facilities and the requirements that go with such services, including pre-surgical dressings, operation, postoperative care, and care during the follow-up period. Moreover, hospitals have higher caseloads and, consequently, serve as referral centers for patients with severe or complicated conditions that cannot be managed at outpatient facilities. This drives the demand for a wide range of gastrointestinal devices. Hospitals are also more likely to invest in these devices because they require and can afford high-cost equipment.

North America accounted for the largest share of the gastroenterology products industry in 2023.

Based on regions, the gastroenterology products market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of the gastrointestinal products market in 2023. This is due to the increased prevalence of GI disorders, such as GERD, cancer, and autoimmune disorders. North America has one of the world's highest healthcare expenditures per capita. Significant investments in healthcare infrastructure, research, and pharmaceuticals help to promote the widespread use of GI products in the region.

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Prominent players in the gastrointestinal products market are Boston Scientific (US), Medtronic (US), Olympus Corporation (Japan), Fujifilm Corporation (Japan), and Stryker (US).

Scope of the Gastrointestinal Products Industry

This report categorizes the gastrointestinal products market to forecast revenue and analyze trends in each of the following submarkets:

By Devices

• Introduction
• Endoscopy
  • Colonoscopy
  • Sigmoidoscopes
  • Capsule endoscopy systems
  • Other endoscopy devices
  • Other endoscopic accessory products
• Ablation system
  • Radiofrequency Ablation system
  • Microwave Ablation System
  • Cryoablation system
  • Other ablation system
• Motility testing
  • Esophageal Manometry
  • 4-Hour pH Impedance Testing
  • Anorectal Manometry
  • Other Motility testing
• Biopsy Devices
  • Needle biopsy devices
  • Endoscopic mucosal resection (EMR) devices
  • Endoscopic submucosal dissection (ESD) devices
  • Other biopsy accessory products
• Stenting Devices
  • Biliary Stents
  • Pancreatic Stents
  • Colonic Stents
• pH Monitoring Devices
  • Esophageal pH Monitoring Catheters
  • Wireless pH Monitoring Capsules
  • Ambulatory pH Monitoring Systems
• Other Gastroenterology Devices
  • Gastric Balloons
  • Gastrointestinal Tubes
  • Hemorrhoid Treatment Devices

By Disease

• Introduction
• Inflammatory Bowel Disease (IBD)
• Gastroesophageal Reflux Disease (GERD)
• Irritable Bowel Syndrome (IBS)
• Gastrointestinal Cancer
• Other diseases

End-User

• Introduction
• Hospitals
• Ambulatory Surgical Centers and Independent Diagnostic Centers
• Clinics
• Other end users

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • Italy
  • Spain
  • France
  • Rest of Europe (RoE)
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific (RoAPAC)
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • Rest of Middle East and Africa

Recent Developments of Gastroenterology Products Industry:

• In April 2023, Boston Scientific announced the launch of the EXALT Model B Single-use Bronchoscope, which expands its single-use endoscopy portfolio. This device is designed for diagnostic and therapeutic bronchoscopy procedures and offers high-resolution imaging and precise control.
• In March 2021 Medtronic introduced the GI Genius Intelligent Endoscopy Module. This module uses artificial intelligence to detect colorectal polyps during colonoscopies, providing real-time insights to physicians. The technology aims to improve adenoma detection rates and enhance the overall diagnostic accuracy of endoscopic procedures.

Frequently Asked Questions (FAQ):

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