Gastroscopes Market

Market CAGR for gastroscopes is being driven by growth and developments in the medical device industry for the production of cutting-edge gastroscopes. The increased number of gastroscope launches by important market participants around the world is anticipated to have a beneficial impact on market expansion. For instance, in February 2022, Ambu A/S, a Danish manufacturer of medical devices announced that the FDA had approved the Gastroscope. This is the first sterile, one-time-use gastroscope with cutting-edge imaging technology.

Additionally, a rise in the prevalence of gastroesophageal reflux disease and Barrett's oesophagus is anticipated to fuel the growth of the gastroscopes market. For instance, the National Library of Medicine estimates that in September 2020, 1.6% of the general population had Barrett's oesophagus.

The accessibility of a better healthcare infrastructure, the expansion of unmet medical needs, incidence of chronic diseases are anticipated to surge in demand for gastroscopes. The demand for better healthcare services is growing, and the government is making considerable investments to upgrade the healthcare infrastructure. As a result, the medical device business is expanding at a significant rate in emerging nations. Gastroscope demand is not just present in developed nations; it is also present in developing nations like China, Japan, and India, which contributes to the market's expansion.

The adoption of gastroscopes is boosted by an increase in public awareness about the prevention and early diagnosis of chronic diseases including cancer and ulcers as well as by their accessibility.

For instance, in may 2020, the Globocan 2020 report estimates that 19.3 million new cases of gastric cancer and roughly 10 million cancer-related deaths. Thus, it is estimated that the market expansion over the projected years will be driven by rising demand for gastroscopy to identify cancer. Thus, driving the Gastroscopes market revenue.

The Global Gastroscopes Market Industry is poised for substantial growth, with projections indicating a market value of 2.87 USD Billion in 2024 and an anticipated increase to 6.17 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 7.21% from 2025 to 2035, reflecting the increasing adoption of gastroscopy technologies and the rising prevalence of gastrointestinal disorders. The market's expansion is likely to be fueled by technological advancements, growing healthcare expenditure, and an aging population, positioning gastroscopes as essential tools in modern diagnostic practices.

Increased healthcare expenditure across various regions is a significant driver for the Global Gastroscopes Market Industry. Governments and private sectors are investing more in healthcare infrastructure, leading to the procurement of advanced medical equipment, including gastroscopes. For instance, countries with robust healthcare systems are allocating substantial budgets to enhance diagnostic capabilities. This investment trend is expected to facilitate the adoption of innovative gastroscopy technologies, thereby expanding the market. As healthcare systems evolve, the demand for effective diagnostic tools like gastroscopes is likely to rise, contributing to the overall market growth.

Technological innovations are transforming the Global Gastroscopes Market Industry, enhancing the capabilities of gastroscopes. Developments such as high-definition imaging, narrow-band imaging, and capsule endoscopy are improving diagnostic precision and patient comfort. These advancements facilitate earlier detection of gastrointestinal diseases, which is crucial for effective treatment. Moreover, the integration of artificial intelligence in gastroscopy is likely to streamline procedures and reduce human error. As these technologies become more prevalent, they are expected to attract investments, further propelling the market's growth trajectory towards an estimated 6.17 USD Billion by 2035.

The aging population worldwide is a critical factor influencing the Global Gastroscopes Market Industry. As individuals age, they become more susceptible to gastrointestinal disorders, necessitating regular screenings and diagnostic procedures. This demographic shift is particularly pronounced in developed nations, where the proportion of elderly citizens is increasing. Consequently, healthcare providers are focusing on enhancing their diagnostic capabilities to cater to this growing patient population. The demand for gastroscopy services is expected to rise in tandem with the aging demographic, further driving market growth in the coming years.

The shift towards minimally invasive procedures is a notable trend influencing the Global Gastroscopes Market Industry. Patients increasingly prefer procedures that minimize recovery time and reduce surgical risks. Gastroscopy, being a minimally invasive diagnostic tool, aligns with this preference, leading to higher adoption rates among healthcare providers. This trend is particularly evident in developed regions where patient awareness and access to advanced medical technologies are higher. As a result, the market is projected to experience a compound annual growth rate of 7.21% from 2025 to 2035, reflecting the growing acceptance of gastroscopy as a preferred diagnostic method.

The rising incidence of gastrointestinal disorders globally drives demand within the Global Gastroscopes Market Industry. Conditions such as gastroesophageal reflux disease, peptic ulcers, and colorectal cancer are becoming increasingly common, necessitating effective diagnostic tools. For instance, the World Health Organization indicates that gastrointestinal diseases account for a significant percentage of global morbidity. As a result, healthcare providers are investing in advanced gastroscopy technologies to enhance diagnostic accuracy and patient outcomes. This trend is expected to contribute to the market's growth, with projections estimating the market value to reach 2.87 USD Billion in 2024.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Gastroscopes market area will dominate this market, owing to the presence of numerous significant players, including B Braun Melsungen AG and Stryker Corporation, as well as improvements in the gastroscope production technology. Additionally, the region's market for gastroscopes is expanding due to the growing elderly population. A strong healthcare infrastructure, wealthy consumers, and an increase in the adoption of sophisticated gastroscopes in hospitals and diagnostic labs are anticipated to propel market expansion.

Moreover, the market is growing by the partnerships, new launches, and product approvals made by the major companies. For instance, Pantax Medical announced the release of a new video gastroscope in September 2020.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2:  TRANSRADIAL ACCESS DEVICES MARKET SHARE BY REGION 2022 (USD Billion)   

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Asia-Pacific Gastroscopes market accounts for the second-largest market share due to the region's presence of medical equipment businesses like Pantax Medical, Fujifilm Holdings, and Olympus Corporation, as well as the region's developing economies' rising purchasing power. Additionally, the adoption of cutting-edge gastroscopes and the rise in the prevalence rate of gastrointestinal illnesses fuel market expansion. Additionally, Asia-Pacific presents lucrative potential for major market participants in the esophagoscopes and gastroscopes space, resulting in the quickest growth rate throughout the course of the projection period.

Moreover, China’s Gastroscopes market held the largest market share, and the Indian Gastroscopes market was the fastest growing market in the Asia-Pacific region.

The Europe Gastroscopes Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to increasing disposable incomes, expanding industry infrastructure, and expanding healthcare infrastructure. Moreover, the German Gastroscopes market held the largest market share, and the UK Gastroscopes market was the fastest growing market in the European region

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Gastroscopes market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Gastroscopes industry must offer cost-effective items.

The government and private businesses are making significant investments in R&D for technological advancements in the  Gastroscopes industry to benefit clients and increase the market sector. In recent years, the Gastroscopes industry has advantages for increasing awareness of disease early identification through minimally invasive surgical methods and the incidence of chronic conditions. Major players in the Gastroscopes market, including Fujifilm Holdings Corporation, SonoScape Medical Corp, Olympus Corporation , Co.

KG, PENTAX MEDICAL, Perkin Elmer , Endomed Systems, Boston Scientific Corporation, SOFMEDICA, KARL STORZ GmbH & Cogentix Medical, and others, are attempting to increase market demand by investing in research and development operations.

Founded in 1934, Fuji Photo Film Co. Ltd. later changed its name to Fujifilm Holdings Corporation in 2006.For the fiscal year that ended on March 31, 2023, the revenue of the "Healthcare," "Materials," and "Imaging" segments of FUJIFILM Holdings Corporation was 2,020.9 billion, or FUJIFILM Corporation (consolidated). 38207 people work for Fujifilm Corporation as a whole, and its annual revenue for the fiscal year that ended on March 31, 2023, which also includes Fujifilm Business Innovation Corp., was 2859.0.

Fujifilm utilises the skills we have developed in photographic film to engage in a broad spectrum of business across the three industries of healthcare, materials, and imaging. The company offers excellent goods and services that improve people's quality of life and advance society. FUFUJIFILM's gastroscopic systems advance medicine through a variety of technological innovations.

Olympus holds around 70% of the  market for gastrointestinal endoscopic equipment. They are creator of the first usable gastrocamera in history. The company is the owner of over 6,700 patents. Olympus Medical Systems work diligently to raise the standard of patient care. Comapny achieve this by creating and developing innovative, cutting-edge clinically precise technology and services. Devices manufactured by the company make it possible for medical experts from a variety of specialisations to perform endoscopic treatments that allow them to "peer" inside the body. They are able to see and do more as a result.

The company’s goal is to enhance patient outcomes, reduce discomfort, and quicken the healing process by concentrating on early detection and minimally invasive treatment of a wide range of disorders. Additionally, cutting-edge products and services help boost productivity and operational effectiveness. The therapeutic gastroscope, the EVIS LUCERA ELITE Therapeutic Videogastroscope, offers high-definition image quality with better operability and approachability. In May 2021, Olympus Participates in International Medical Technology Film Series.