Endoscopy has been used as a procedure to explore and visualize the interiors of the human body since the early 1800s. In 1805, Bozzini, a German physician, used a ‘lichtleiter’ to examine the genitourinary (GU) tract. Later, in 1855, another physician named Desormeaux added a light source using a light lamp for better visualization. With time, endoscopes witnessed many advancements for better diagnostic and therapeutic purposes. Earlier, rigid endoscopes made up of metal tubes were used for gastroscopy, but the light source was inadequate to perform the procedure. Later, with the invention of Edison’s incandescent electric light bulb, the issue of light source got resolved somehow; however, the rigid structure of the gastroscope was still not ideal for the examination of the stomach.
Gastrointestinal Endoscopy Market Size and Forecast
The Gastrointestinal Endoscopy Market was valued at $13.40 billion in 2021 and is anticipated to reach $25.75 billion by 2031, witnessing a CAGR of 6.24% during the forecast period 2022-2031. The market is driven by factors such as the increasing prevalence of gastrointestinal diseases, rising preference for minimally invasive surgeries, growing demand for capsule endoscopy, the shift from reusable endoscopes to disposable endoscopes, and technological advancements in the field of robot-assisted endoscopes and AI-based devices.
Most of the companies in the market are currently engaged in expanding their presence in key growth regions across the globe. Many of them are in the phase of product launch and commercialization to expand their global footprint in the gastrointestinal endoscopy market. The following figure indicates five key trends that are expected to have the maximum impact on the growth of the market during the forecast period 2022-2031.
Impact of COVID-19 on Global Gastrointestinal Endoscopy Market
Gastrointestinal endoscopy plays a major role in the diagnosis of gastrointestinal cancer and other gastrointestinal-related disorders as well as it has a significant role in therapeutics as well. During COVID-19, healthcare services got suspended worldwide, which led to decreased diagnosis and procedure volumes.
Impact of COVID-19
There was an occurrence of non-emergency surgeries being postponed or canceled in order to reduce the risk of infection in the early months of 2020. According to a study published in Elsevier in 2021 titled, ‘Ongoing Global Impact of the COVID-19 Pandemic on Endoscopy.
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Key Questions Answered in the Report
- What are the key drivers, restraints, and opportunities for the global gastrointestinal endoscopy market?
- What are some key strategies adopted by the major players? XX Who are the major key players in the global gastrointestinal market?
- How has COVID-19 impacted the global gastrointestinal endoscopy market, and how long is its impact going to affect the market?
- Why is the global gastrointestinal endoscopy market shifting to disposable endoscopes from reusable endoscopes?
- Why is the global gastrointestinal endoscopy market shifting to robot-assisted surgeries from open surgeries?
- What are the key trends in the field of global gastrointestinal endoscopy and how they are going to affect the market in the future?
- What are the ongoing clinical trials in the global gastrointestinal endoscopy market?
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