Market Size of Gastrointestinal Bleeding Treatment Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 4.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Gastrointestinal Bleeding Treatment Market Analysis
The Gastrointestinal Bleeding Treatment Market is poised to witness a CAGR of 4% during the forecast period.
The COVID-19 pandemic had an adverse effect on the market. An article published in the National Library of Medicine in February 2021 reported that flexible endoscopy plays a major role in cancer screening, surveillance, and treatment programs. Due to the risk of COVID-19 transmission to healthcare workers, most healthcare facilities halted non-emergency and diagnostic procedures during the lockdown. The halting of procedures during the time of COVID-19 impacted the growth of the market. However, the market is anticipated to gain traction over the coming years owing to the resumption of diagnosis and treatment procedures globally. Furthermore, initiatives such as product launches are expected to increase market growth. For instance, in October 2021, FUJIFILM Healthcare Americas Corporation launched the El-740D/S dual-channel flexible endoscope. It is one of the first dual-channel endoscopes that has received approval from the United States Food and Drug Administration (FDA) for use in both upper and lower gastrointestinal applications. Such approvals from the regulatory authority to technically advanced and wide-application gastroscopes are also fostering the growth of the market segment.
Gastrointestinal bleeding refers to blood loss that occurs within the digestive organs. The high prevalence of upper gastrointestinal bleeding, the rise in applications of endoscopic hemostasis, and the growing geriatric population are the main factors that are boosting the growth of the gastrointestinal bleeding treatment market. Factors such as the growing burden of gastric cancers, tumors, and other chronic diseases, advancement in technology, and the launch of products are driving the growth of the market segment. According to the Centers for Disease Control and Prevention, in 2021, the number of adults diagnosed with ulcers in the United States was 14.8 million, with the percentage of adults diagnosed being merely 5.9%. Many governments, including the ones of developing countries, are taking initiatives to increase the diagnosis of these diseases.
Initiatives by key market players are another factor in market growth. For instance, in October 2021, FUJIFILM Healthcare Americas Corporation exhibited its full line of solutions for gastroenterologists at the annual convention of the American College of Gastroenterology (ACG) booth 1323 in Las Vegas on October 22-27. Similarly, in March 2021, Fujifilm Healthcare started operating as a fully owned subsidiary of FUJIFILM and completed the acquisition of the diagnostic imaging-related business of Hitachi Ltd. Thus, the increasing prevalence of diseases, coupled with initiatives by key market players, is expected to help the market growth.
However, the dearth of skilled labor is expected to restrain the growth of the market in the forecast period.
Gastrointestinal Bleeding Treatment Industry Segmentation
As per the scope of the report, gastrointestinal bleeding refers to any form of hemorrhage or blood loss that occurs within the digestive organs like the esophagus, stomach, and small intestine, including the duodenum and rectum. It includes all forms of bleeding of the gastrointestinal tract, from the mouth to the rectum.
The Gastrointestinal Bleeding Treatment Market is Segmented by Product (Endoscopic Mechanical Devices, Endoscopic Thermal Devices, and Other Products), GI Tract Division (Upper GI Tract and Lower GI Tract), End User (Hospitals/Clinics, Ambulatory Surgical Centres, and Other End Users), and Geography (North America, Europe, Asia Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD billion) for the above segments.
By Product | |
Endoscopic Mechanical Devices | |
Endoscopic Thermal Devices | |
Other Products |
By GI Tract Division | |
Upper GI Tract | |
Lower GI Tract |
By End User | |
Hospitals/Clinics | |
Ambulatory Surgical Centres | |
Other End Users |
Geography | ||||||||
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Gastrointestinal Bleeding Treatment Market Size Summary
The Gastrointestinal Bleeding Treatment Market is expected to experience steady growth over the forecast period, driven by the resumption of diagnostic and treatment procedures following the disruptions caused by the COVID-19 pandemic. The market is benefiting from advancements in technology and the introduction of innovative products, such as dual-channel flexible endoscopes, which have received regulatory approvals for use in various gastrointestinal applications. The increasing prevalence of upper gastrointestinal bleeding, along with the rise in endoscopic hemostasis applications and a growing geriatric population, are key factors propelling market expansion. Additionally, initiatives by major market players, including product launches and strategic acquisitions, are further contributing to the market's growth trajectory.
The market is characterized by a significant demand for advanced treatment options, particularly in regions like North America, where the prevalence of gastrointestinal disorders is high. The approval of new medical devices and the conduct of clinical trials, such as those involving AI-assisted endoscopy modules, are enhancing the adoption of gastrointestinal bleeding treatment solutions. Despite the positive growth outlook, challenges such as a shortage of skilled labor may impede market progress. The market remains moderately fragmented, with key players like Boston Scientific Corporation and Olympus Corporation actively participating in shaping the competitive landscape. Overall, the combination of disease prevalence, technological advancements, and regulatory support is expected to drive the market's growth in the coming years.
Gastrointestinal Bleeding Treatment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Burden of Upper Gastrointestinal Bleeding
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1.2.2 Technology Advancements Related to Gastrointestinal Diseases Treatment
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1.3 Market Restraints
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1.3.1 Dearth of Skilled Labor
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Endoscopic Mechanical Devices
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2.1.2 Endoscopic Thermal Devices
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2.1.3 Other Products
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2.2 By GI Tract Division
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2.2.1 Upper GI Tract
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2.2.2 Lower GI Tract
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2.3 By End User
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2.3.1 Hospitals/Clinics
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2.3.2 Ambulatory Surgical Centres
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2.3.3 Other End Users
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle-East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle-East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Gastrointestinal Bleeding Treatment Market Size FAQs
What is the current Gastrointestinal Bleeding Treatment Market size?
The Gastrointestinal Bleeding Treatment Market is projected to register a CAGR of 4% during the forecast period (2024-2029)
Who are the key players in Gastrointestinal Bleeding Treatment Market?
Boston Scientific Corporation, CONMED Corporation, Cook Group, ERBE Elektromedizin GmbH and Ovesco Endoscopy AG are the major companies operating in the Gastrointestinal Bleeding Treatment Market.