Esophagoscope & Gastroscope Market - Forecast(2022 - 2027)

Report Code: HCR 1452 Report Format: PDF + Excel

Esophagoscope & Gastroscope Market Overview   

The Esophagoscope & Gastroscope Market size was estimated at $876 million in 2020, projected to grow at a CAGR of 6.2% during the forecast period 2021-2026. Esophagoscopy and Gastroscopy are endoscopy procedures that analyze the mucosa of the esophagus, the stomach, and the duodenum. Esophagoscopy, focuses only on the esophagus, is not commonly used alone; instead, the entire upper gastrointestinal tract is examined. While Gastroscopy examines the stomach and duodenum, which is the first part of the small intestine. 

According to Gastroenterology journal Over 78,400 upper endoscopic ultrasound examination procedures are performed annually in the U.S. The increased use of these devices is largely associated with the increasing prevalence of gastrointestinal diseases. 

Gastrointestinal cancer is a prevalent disease among Asian-Americans, with a prevalence rate of 48.8 per 1,000 hospitalizations, potentially boosting the demand for esophagoscopes and gastroscopes. Additionally, favorable reimbursement policies, in the developed nations and rising demand of minimally invasive surgeries is further anticipated to fuel the esophagoscopes and gastroscopes market growth. However, the allergic reactions and high cost associated with esophagoscopy & gastroscopy procedure could pose a threat to the market's growth during the forecast period 2021-2026.

Esophagoscope & Gastroscope Market Report Coverage

The report: “Esophagoscope & Gastroscope Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Esophagoscope & Gastroscope Market.

By Product Type: Flexible, Rigid and Capsule.                                          
By Distribution Channel: Online and Offline.
By End User: Hospitals, Speciality Clinics, Ambulatory Surgical Centers and Others
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), Asia-Pacific (China, Japan India, South Korea, Australia and Others), South America (Brazil, Argentina and others) and Rest of the World (Middle East and Africa).

Key Takeaways

  • Geographically, the North America region held 38.4% of the total market share in 2020 owing to the increasing preference for minimally invasive surgeries and favorable reimbursement policies.
  • Increasing prevalence of gastrointestinal diseases is the major driving force for the Esophagoscope & Gastroscope Market during the forecast period 2021-2026.
  • Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the Esophagoscope & Gastroscope Market will be provided in the research report.
Esophagoscope & Gastroscope Market - By Geography, 2020

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Esophagoscope & Gastroscope Market Segment Analysis- By Product Type

By Product, the Esophagoscope & Gastroscope Market is classified into Flexible, Rigid and Capsule devices. Flexible devices accounted for the largest share of the market and is predicted to expand at a steady CAGR of 5.7% over the forecast period 2021-2026, owing to medical professionals' increasing preference for flexible endoscopes. Moreover technical advances, improved productivity and safety, offered by ergonomic and flexible endoscopes further drives the market growth. However Capsule product type, is anticipated to register significant growth owing Increasing risk of infections associated with the use of conventional reusable products.

Esophagoscope & Gastroscope Market Segment Analysis - By End User

Based on End User, the global market is segmented as hospitals, speciality clinics, ambulatory surgical centers and others. The hospital segment accounted for major share of esophagoscope & gastroscope market in 2020. This is due to increased government and private support, as well as a growing preference among physicians and patients for endoscopic procedures to be performed in a hospital setting. Moreover, owing to favorable payment policies and widespread acceptance, the number of operations conducted in hospitals is higher than in other health-care settings. 

However, ambulatory surgical centers is expected to grow at a faster CAGR of 8.7%. Some of the major factors supporting the demand for endoscopic surgeries or procedures in ambulatory surgical centers are the reduced time needed for endoscopy, the reduction in pain due to the advent of keyhole surgeries, and the reduction in recovery time. Furthermore, the low cost of endoscopes in ambulatory centers is expected to rise as a result of less hospital stays which is further poised to increase the Esophagoscope & Gastroscope Market rate during the forecast period 2021-2026.

Esophagoscope & Gastroscope Market Segment Analysis - By Geography

Based on geography, North America dominated the Esophagoscope & Gastroscope Market with a region share of 38.4% in 2020 followed by Europe and APAC. Increased geriatric population that are more prone to chronic disease and surgery along with increasing health concerns in this region are the major factors propelling the growth. Additionally, the presence of large number of esophagoscope & gastroscope device manufacturing company that invest heavily on the research and development of technologically advanced devices is further predicted to drive the market growth in this region.

However, Asia Pacific is set to be the fastest growing region owing to the growing population of the geriatric population and the improvement of health facilities. Furthermore, attracting foreign investments is the region's growing economic growth is further predicted to drive the market growth during the forecast period 2021-2026 in this region.

Esophagoscope & Gastroscope Market Drivers

Increasing Prevalence of Gastrointestinal Diseases

The increased use of esophagoscopes and gastroscopes is primarily due to the increasing prevalence of gastrointestinal diseases. Gastrointestinal cancer is a prevalent disease among Asian-Americans, with a prevalence rate of 48.8 per 1,000 hospitalizations, indicating that the demand for esophagoscopes and gastroscopes will continue to increase. Other diseases, such as gastroesophageal reflux disease, gastrointestinal bleeding, stomach cancer, functional gastrointestinal diseases are also expected to increase demand for endoscopy procedures, which will drive demand for esophagoscopes and gastroscopes even higher.

Increase Cases of Minimally Invasive Surgeries

The demand for esophagoscopes and gastroscopes is expected to grow as a result of the ease with which minimally invasive procedures can be performed and the low risks associated with them. Globally, about 10 million minimally invasive procedures were performed. Endoscopic procedures accounted for 525,000 of these. The growing prevalence of cases that require the minimal invasive surgeries is predicted to drive the market growth during the forecast period 2021-2026.

Esophagoscope & Gastroscope Market Challenge

High Cost of the Product

Despite the increased prevalence of gastrointestinal diseases, there are some factors preventing product acceptance. The high cost of the procedure and minimal invasive surgeries is a major constraint to the market. Additionally, the allergic reactions and diseases, which is caused post the procedure are also limiting the adoption of these devices.

Esophagoscope & Gastroscope Market Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Esophagoscope & Gastroscope Market. Key companies of this market are Olympus Corporation , Fujifilm Holdings Corporation , Hoya Corporation (PENTAX Medical), KARL STORZ GmbH & Co. KG , Teleflex Inc., Sonoscape Medical , Endomed Systems , Aohua, Smart Medical Systems and Medigus.

Developments:

In 2019, Olympus launched “PowerSpiral” a small intestine endoscopy system in Europe and Asia, including India and Hong Kong.

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1. Esophagoscope & Gastroscope Market Overview
    1.1 Definitions and Scope
2. Esophagoscope & Gastroscope Market Executive Summary
    2.1 Market Revenue, Market Size and Key Trends
    2.2 Key trends By Product Type
    2.3 Key trends By Distribution Channel
    2.4 Key trends By End User
    2.5 Key trends By Geography
3. Esophagoscope & Gastroscope Market Landscape
    3.1 Product Benchmarking- Key Companies
    3.2 Financial Analysis- Key Companies
    3.3 Patent Analysis
    3.4 Pricing Analysis–Average Pricing
4. Esophagoscope & Gastroscope Market- Startup companies Scenario Premium Premium
    4.1 Key startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Esophagoscope & Gastroscope Market- Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of successful ventures
6. Esophagoscope & Gastroscope Market Forces
    6.1 Market Drivers
    6.2 Market Constraints and Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry Among Existing Players
        6.3.5 Threat of Substitutes
7. Esophagoscope & Gastroscope Market Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Esophagoscope & Gastroscope Market– By Product Type
    8.1 Rigid
    8.2 Flexible
    8.3 Capsule
9. Esophagoscope & Gastroscope Market– By Distribution Channel
    9.1 Online
    9.2 Offline
10. Esophagoscope & Gastroscope Market– By End User
    10.1 Hospitals
    10.2 Specialty Clinics
    10.3 Ambulatory Surgery Centers
    10.4 Others
11. Esophagoscope & Gastroscope Market- By Geography
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 U.K
        11.2.2 Germany
        11.2.3 France
        11.2.4 Spain
        11.2.5 Italy
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia Pacific
        11.3.1 India
        11.3.2 China
        11.3.3 Japan
        11.3.4 Australia
        11.3.5 South Korea
        11.3.6 Rest of Asia pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
        11.5.2 Africa
12. Esophagoscope & Gastroscope Market Entropy
13. Esophagoscope & Gastroscope Market- Industry / Segment Competition landscape Premium Premium
    13.1 Market Share Analysis
        13.1.1 Market Share by Country- Key companies
        13.1.2 Market Share by Region- Key companies
        13.1.3 Market Share at Global Level- Key companies
        13.1.4 Best Practices for Companies
14. Esophagoscope & Gastroscope Market- Key Company List by Country Premium Premium
15. Esophagoscope & Gastroscope Market Company Analysis (Company Revenue, Products, M&A, Developments)
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10
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