The global gastroscopes market to grow at a CAGR of 5.81 % during the period 2018-2022.
Global Gastroscopes Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the diagnosis of diseases of the esophagus, stomach, or the upper part of the small intestine (SI).
The latest trend gaining momentum in the market is increasing growth opportunities in emerging markets. Due to the increasing population of undiagnosed and untreated people with GI disorders in emerging countries, vendors are extensively focusing on expanding their business in these markets to generate substantial revenue and increase their presence.
For instance, the incidence and prevalence of chronic GI disorders in Asia, particularly in China and India, have been increasing over the past few years. Scientists have identified ulcerative colitis as one of the most common GI diseases affecting individuals in emerging countries such as China and India.
Although several drugs are available in the market to treat such disorders, flexible gastroscopes play a vital role in early and accurate diagnosis. There has been growing awareness among the key vendors regarding the use of advance
According to the report, one of the major drivers for this market is Wide prevalence of GI disorders. The global gastroscopes market is driven by the increased number of patients with GI diseases. The growing incidence of diseases such as esophageal or pancreatic cancers, biliary diseases, IBD, GERD, and Barrett's syndrome is expected to drive the growth of the global gastroscopes market.
Also, changes in lifestyle such as unhealthy diet and physical inactivity have resulted in several complications like elevated blood pressure, blood glucose, cholesterol, and obesity in recent years. In the past few years, there has been a rise in morbidity and mortality rates due to chronic diseases such as esophageal cancer and critical GI disorders.
Further, the report states that one of the major factors hindering the growth of this market is Complications and maintenance issues associated with gastroscopes. Endoscopy is usually a safe procedure, which is used widely for treating upper GI disorders. However, the procedure involves risks and complications, which include perforation of organs (stomach or esophagus lining), bleeding, and infections.