Boston Scientific Is One Of The Largest Players In The Gastrointestinal Devices Market, According To The Business Research Company’s Gastrointestinal Devices Global Market Report 2020-30: COVID 19 Growth And Change.
(Companies Covered: Boston Scientific, Medtronic, Fujifilm Holdings Corporation, CONMED Corporation, Stryker Corporation, Johnson and Johnson, Olympus, Cook Group, Becton, Dickinson and Company.)
The global gastrointestinal devices market is expected to decline from $7.73 billion in 2019 to $7.44 billion in 2020 at a compound annual growth rate of -3.75%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $9.34 billion in 2023 at a rate of 7.88%.
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The gastrointestinal devices market consists of sales of gastrointestinal devices and related services by entities (organizations, sole traders and partnerships) that manufacture gastrointestinal devices. These devices are used for the diagnosis and treatment of medical conditions related to the digestive system or the gastrointestinal tract. Some of these products include gastroscope, enteroscope, and ultrasound endoscope. Only goods and services traded between entities or sold to end consumers are included.
Global Gastrointestinal Devices Market Segmentation –
1) By Product Type: GI Videoscopes, Biopsy Devices, Endoscopic Retrograde Cholangiopancreatography Devices (ERCP), Capsule Endoscopy, Endoscopic Ultrasound, Endoscopic Mucosal Resection (EMR), Hemostasis Devices, Others.
2) By End Users: Hospitals, Clinics and Dialysis Centers, Ambulatory Surgical Center.
Global Gastrointestinal Devices Market Driver –
High healthcare costs for treating gastrointestinal disease restrains the gastrointestinal devices market. According to the NEJM Journal Watch, a sister publication of New England Journal of Medicine, the overall healthcare expenditure for the gastrointestinal disease is around $136 billion annually which is more than heart disease healthcare expenditure ($113 billion), trauma expenditure ($103 billion), mental health expenditure ($99 billion), indicating the high expenses involved in treating gastrointestinal disease.
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Few Points From The Global Gastrointestinal Devices Market TOC
1. Executive Summary
2. Gastrointestinal Devices Market Characteristics
3. Gastrointestinal Devices Market Size And Growth
3.1. Global Gastrointestinal Devices Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Gastrointestinal Devices Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Gastrointestinal Devices Market Segmentation
4.1. Global Gastrointestinal Devices Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Gastrointestinal Devices Market, Segmentation By End Users, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Gastrointestinal Devices Market Regional And Country Analysis
5.1. Global Gastrointestinal Devices Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Gastrointestinal Devices Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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