Global Gastroenterology Disposables Market Highlights 2022 – 2031
The global gastroenterology disposables market is estimated to garner a large amount of revenue and grow at a significant CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing number of cases of infectious diseases across the globe, coupled with the growing prevalence of diseases associated with the digestive system. In 2019, more than 20% of the adult population in the United States was diagnosed with gastrointestinal conditions, whereas, about 19% adults were diagnosed with gastrointestinal disorders in EU-5 in the same year. Along with these, high risk of hospital acquired infections (HAIs), especially in developing nations, and rising technological advancements to develop sophisticated gastroenterology equipment are also expected to drive market growth in the upcoming years. Furthermore, upsurge in the number of regulatory approvals for disposable/single use medical devices is projected to offer ample growth opportunities to the market in the near future.
The market is segmented by affected organ into stomach, esophagus, small intestine, pancreas, gallbladder, liver, colon, and bile ducts, out of which, the colon segment is anticipated to witness significant growth in the global gastroenterology disposables market over. This can be accounted to the growing occurrence of rectal and colon cancer around the world, particularly among the elderly people. Apart from this, government initiatives to spread awareness about cancer, and the necessity of screening the condition is also predicted to boost the growth of the market segment in the future. Additionally, on the basis of end user, the hospitals segment is assessed to acquire the largest share over the forecast period owing to the large number of patient admission, and high preference of patients to get treated by trained professionals in a hospital facility. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Gastroenterology Disposables Market Regional Synopsis
On the basis of geographical analysis, the global gastroenterology disposables market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the growing technological advancements in the healthcare sector, and large patient pool in the region. Moreover, the market in the North America region is anticipated to gain the largest market share throughout the forecast period ascribing to the high healthcare expenditure, and well-established medical infrastructure in the region. According to the Centers for Medicare & Medicaid Services (CMS), the health spending in the United States grew by 9.7% in 2020, reaching a value of USD 4.1 trillion, or USD 12,530 per person. In addition, strong presence of prominent market players is also projected to boost the market growth in the region in the coming years.
The global gastroenterology disposables market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global gastroenterology disposables market includes the following segments:
By Affected Organ
- Stomach
- Esophagus
- Small Intestine
- Pancreas
- Gallbladder
- Liver
- Colon
- Bile Ducts
By End User
- Hospitals
- Clinics
- Diagnostic Centers
Growth Drivers
- Increasing Cases of Infectious Diseases Across the Globe
- Growing Prevalence of Diseases Associated with the Digestive System
Challenges
- High Cost of Gastroenterology Disposables
Top Featured Companies Dominating the Market
- Corinth MedTech, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Boston Scientific Corporation
- Hill-Rom Holdings, Inc.
- HOYA Corporation
- KARL STORZ SE & Co. KG
- OBP Medical Corporation
- Coloplast A/S
- 3NT Medical Ltd.
- OTU Medical Inc.
- Prosurg Inc.
