Global Gastrointestinal Endoscopic Devices Market is set to witness a decent growth of 5% by 2026

BRUSSELS - July 19, 2022 - PRLog -- Gastrointestinal (GI) diseases are disorders of the digestive system that involve a range of vital digestive organs such as mouth, esophagus, stomach, small and large bowels, rectum, anus, and GI connected organs.

Medical devices such as endoscopes, laparoscopes/surgical endoscopes, endotherapy devices, and laparoscopic devices play a vital role in the early & accurate diagnosis and treatment of potentially life-threatening GI diseases, which in turn opens up growth avenues for GI MedTech device manufacturers.

Resurgence of Gastrointestinal Endoscopic Devices Market Post Covid-19 Pandemic

Covid-19 pandemic has adversely impacted all the health services worldwide and the Gastrointestinal MedTech industry was no different.

Specialties such as gastroenterology were directly affected by Covid-19. The pandemic adversely impacted the workflow and safety of endoscopists, ancillary staff, and patients. Shortages of personal protective equipment (PPE), curtailed patient volume, dearth of testing kits, workforce furloughs, and lockdowns forced units to drastically reduce the volume of the procedures, postpone and even cancel GI procedures in medium- to low-risk cases.

"A price erosion in Gastrointestinal Endoscopic Devices is expected due to consolidation of group purchasing organizations (GPOs) in different markets and demand of discounts by cash-strapped hospitals in high volume purchases especially due to Covid-19 pandemic." - Senior Director, Leading Endoscope Manufacturer, United States

Regional Overview: Gastrointestinal Endoscopic Devices Market

The United States currently holds the larger share in the gastrointestinal endoscopic devices market. It is expected to continue to hold a larger share in the coming years due to the increasing number of endoscopic examinations, rising aging population, favourable reimbursement climate for endoscopy procedures, growth in minimally invasive endoscopic therapy procedures, growing concerns over cleaning, disinfection & sterilization, and higher quality expectations.

Growth Strategies Adopted by Market Players to Establish Their Foothold

Leading players operating in the gastrointestinal endoscopic devices market adopt both organic and inorganic growth strategies such as new product launches, and partnerships to garner higher market share in gastrointestinal endoscopic devices market.

Competitive Landscape Analysis: Gastrointestinal Endoscopic Devices Market

The gastrointestinal endoscopic devices market is marked by the presence of leading industry players such as Olympus, Boston Scientific, Pentax (Hoya), Fujifilm, Cook Medical, Karl Storz, Ethicon, Medtronic, Stryker, Medi-Globe, Ambu, Arthrex, Richard Wolf, ERBE, Micro-Tech, among others.

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