Market Trends of Spain Endoscopy Devices Industry
Endoscope Segment is Expected to Witness Rapid Growth in the Market Over the Forecast Period
- The endoscopes segment is estimated to have a significant market share during the forecast period owing to factors such as the rising adoption of minimally invasive procedures, increasing technological advancements, and the rise in research studies involving endoscopes for different disease modalities.
- For instance, in October 2022, Fujifilm Europe GmbH launched EW10-VM01 software for the Scale Eye virtual real-time scaling function designed to help endoscopists estimate the size of lesions in the colon. Scale Eye is the latest technology launched as part of the Eluexo Ultra platform, offering a complete package for endoscopists. Scale Eye is activated with the push of a button on the endoscope to help the endoscopist determine the size of the lesion within the endoscopic field of view. Hence, such technical innovations are expected to bolster the demand for endoscopes in Spain over the forecast period.
- Furthermore, in October 2021, GI Windows, Inc. sponsored a clinical study to be conducted in Barcelona, Spain, to monitor weight loss and metabolic indicators for subjects in a single-center, a single-arm trial using an endoscope that was placed in the duodenum and laparoscopically into the ileum. Hence, the utilization of endoscopes for clinical studies is expected to drive segment growth over the forecast period.
- Hence, the rise in clinical studies utilizing endoscopes and technological advancements are the major factors that are leading to the growth of the segment.
Gastroenterology Segment Anticipated to Hold a Significant Share in the Market Over the Forecast Period
The gastroenterology segment is estimated to have a significant market share during the forecast period owing to the factors such as the increasing prevalence and risk rate of gastrointestinal diseases, increasing technological advancements, and the rise in research studies utilizing endoscopy devices. For instance, according to the June 2022 update by Regional Health Management, in Spain, more than 70,000 new cancers related to the Digestive System were likely to be diagnosed in 2022, according to the latest report Cancer Figures. Specifically, the most frequent digestive tumors diagnosed in the country this year were estimated to be those of the colon and rectum (43,370), pancreas (9,252), stomach (6,913), liver (6,604), gallbladder (2,834), and esophagus (2,249). Thus, the increasing number of gastrointestinal diseases across Spain is driving the growth of the market studied.
An upper GI endoscopy or EGD (esophagogastroduodenoscopy) is a procedure to diagnose and treat problems in the upper GI (gastrointestinal) tract. The upper GI tract includes the food pipe (esophagus), stomach, and the first part of the small intestine (the duodenum). This procedure is done using a long, flexible tube called an endoscope. The adherence to endoscopy by the population is a crucial factor for market growth.
An upper GI endoscopy or EGD (esophagogastroduodenoscopy) is a procedure to diagnose and treat problems in the upper GI (gastrointestinal) tract. The upper GI tract includes the food pipe (esophagus), stomach, and the first part of the small intestine (the duodenum). This procedure is done using a long, flexible tube called an endoscope. The adherence to endoscopy by the population is a crucial factor for market growth.
For instance, in February 2021, an article published in PubMed was sponsored by the Spanish Association of Gastroenterology, the Spanish Gastrointestinal Endoscopy Society, and the Spanish Anatomical Pathology Society, which aimed to establish recommendations for performing a high-quality upper gastrointestinal endoscopy for the screening of gastric cancer precursor lesions (GCPL) in low-incidence populations, such as the Spanish population. Hence, such recommendations demonstrating the need for adherence to endoscopy procedures are likely to drive market growth.
As a result, the increase in clinical research utilizing endoscopes and technical improvements are the key reasons driving the segment's growth.
