Gastroscopy Devices Market:Drivers and Restraints
The global gastrointestinalendoscopy devices market is expected to be fueled by advancements in endoscopytechnology. Key drivers of the GastroscopyDevices Market are increasing cases of esophageal cancer and polyps,growing ageing population, family history of cancer, and changing lifestyle.Increasing government initiatives to diagnose and treat early stage cancers arealso expected to fuel gastrointestinal endoscopy devices market. For instance,in 2014, The European Society of Gastrointestinal Endoscopy (ESGE) and UnitedEuropean Gastroenterology (UEG) created a community of endoscopy servicesacross Europe, collaborating with each other to provide high quality, safe,accurate, patient-centered and accessible endoscopic care. The lack ofawareness, dearth of experienced professionals, lack of reimbursement policies,and increasing cases associated with bio-dirt is expected to hinder growth ofthe market.
Gastroscopy Devices Market
Gastroscopy is a type ofendoscopy performed for diagnosis of diseases pertaining to esophagus, stomach,and upper part of small intestine. It is also called upper gastrointestinalendoscopy. It is one of the most important discoveries in the field of medicalscience. Esophagoscope was also a type of endoscopy that was used for diagnosisand treatment procedures of esophagus. Gastroscopy has replaced esophagoscopescompletely. The only difference between esophagoscope and gastroscope is thelength of gastroscope that is longer than esophagoscopes. Gastroscopy can alsobe performed to detect cancers. This procedure is recommended to diagnoseproblems related to the esophagus or stomach. The device has a light and acamera at the end of the probe that is used to see the esophagus, upperintestine and stomach clearly. It is also used to investigate problems relatedto swallowing, ulcers, and blockage in esophagus. This procedure allowspractitioners to study the mucous membrane of the stomach. Gastroscopy arebroadly classified into two types namely diagnostic gastroscopy used todiagnose or confirm diagnosis and treatment gastroscopy for therapeuticpurposes. Esophagus cancer is theeighth-most common cancer in the world. As per the report of World CancerResearch Fund International, there were around 456,000 new esophagus cancercases diagnosed in 2012. Gastroscopy is considered as the most preferred optionfor screening of esophagus cancer and polyps by most gastroenterologists andthus, the gastrointestinal endoscopy devices market is projected to witnesssignificant traction in the foreseeable future.
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High Incidence of EsophagealCancer Fueling Gastroscopy Devices Market Growth
Esophageal cancer is of two typesnamely, adenocarcinoma and squamous cell carcinoma. Esophageal cancer can occurdue to various reasons such as gene type that includes gene mutations or damageinvolved in cell divisions. As per results of an independent study, overweightand obesity increases the risk of esophageal cancer by 48% per 5 BMI units.Polyp detection rate of esophagus and stomach depend upon the proportion ofmucosal surface diagnosed and correlates to time dedicated for diagnosis.Gastroscopes consist of a flexible tube with a high definition camera at theend of the probe. The quality of camera defines the quality of diagnosis. Thelong length of device is used to examine the complete length of the esophagus.
Gastroscopy Devices Market:Overview
Technological advancements ingastroscopy technique are expected to drive growth of the market forgastroscopy device, as these significantly improve detection rate as comparedto other conventional procedures. Practitioners prefer using flexible gastroscopeover non-flexible gastroscopes due to high quality, less breakage problems andhigh illumination for better imaging provided by the former. Increasingawareness among practitioners of using the advanced gastroscopy over whitelight traditional gastroscopy is showing a significant growth towards flexiblevideo gastroscopy. Increasing cases of biodirt provides opportunity togastroscopy manufacturers to introduce products with innovative features toavoid such cases of infections. Hospital end user segment is expected to remaindominant in the market over the foreseeable future.
Key players operating thegastroscopy devices market include Olympus, Karl Storz, Sono Scape, Endomed,Medigus, Fujifilm Holdings Corporation, and Huger.
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Key Developments
Major companies in the market areinvolved in different business strategies such as business expansion, in orderto gain competitive edge in the market. For instance, in November 2018,SonoScope Medical Corporation, a China-based endoscopy equipment manufacturer,launched its corporate brand at ISGCON 2018, the 59th Annual Conference of theIndian Society of Gastronomy held at Kerala, India. This expansion will helpthe company to grow its business in India.
Major companies in the market areinvolved in different business strategies such as collaboration, agreement, andpartnership, in order to enhance their market presence. For instance, in August2018, Medigus, Ltd., an Israel-based medical device company, entered into anexclusive distribution agreement with Micro-Tech Endoscopy for Medigus’‘Medigus Ultrasonic Surgical Endoplaster (MUSE)’ system, which is used for thetreatment of heartburn.
Key players in the market areinvolved in different business strategies such as merger and acquisition, inorder to enhance their market presence. For instance, in May 2019, FujifilmCorporation acquired medwork GmBH, a Germany-based manufacturer of instrumentsfor therapeutic and diagnostic endoscopy.
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