by Gastroenterology deals with the diagnosis and treatment of digestive disorders including liver disease, gallbladder disease, stomach ulcers, digestive tract cancers, and inflammatory bowel diseases. The field utilizes advanced technologies such as endoscopy, capsule endoscopy, colonoscopy, biopsy, and ultrasound screening for diagnosis and surgical treatment procedures for conditions like Crohn’s disease, ulcerative colitis, gastroesophageal reflux disease, and gastric ulcers. Growing prevalence of gastrointestinal diseases worldwide and increasing demand for minimally invasive endoscopic procedures are driving significant growth in the gastroenterology market.
The Global Gastroenterology Market is estimated to be valued at US$ 35.12 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the gastroenterology market are Allied Digestive Health, Boston Scientific, Capital Digestive Care, CRH Medical, Iterative Scopes, Fujifilm Medical, Gastro Health, GI Alliance, Medtronic, Micro-Tech Endoscopy, Motus GI, Olympus, One GI, PE GI Solutions, Peak Gastroenterology Associates, Pentax Medical, Pinnacle GI Partners, Saneso, Surgical Innovations, Wision A.I. Allied Digestive Health and Medtronic collectively command over 30% of the market share.
The rising prevalence of gastrointestinal disorders and increasing healthcare spending are fueling demand for advanced Gastroenterology Market Size procedures globally. Various initiatives undertaken by governments and private organizations to spread awareness about digestive diseases are also propelling the growth of the market.
The gastroenterology market is witnessing significant expansion globally with growing demand in developing regions of Asia Pacific, Latin America, and Middle East & Africa. The increasing disposable incomes, improving standards of healthcare facilities, and expanding medical tourism sector in developing countries offer lucrative opportunities for players in the gastroenterology market.
Market Key Trends
One of the key trends gaining traction in the Gastroenterology Companies is the increasing adoption of artificial intelligence and robotic technologies. AI is being widely adopted to automate routine operational functions in endoscopy and reduce human error. Robotic endoscopy systems such as Medinext’s Anthropic ROBESTM help overcome challenges related to manual endoscopy by providing stable camera positioning, illumination, retraction assistance, and automation. AI applications offer tools for computer-aided diagnosis and automated detection of abnormalities during endoscopic exams. This is expected to enhance productivity and clinical outcomes.
Porter’s Analysis
Threat of new entrants: New companies can enter the gastroenterology market with relatively low investment and risk. However, established players have strong brand recognition and control significant market share.
Bargaining power of buyers: Individual patients have low bargaining power but group buyers like hospitals and institutions can negotiate on price and contracts.
Bargaining power of suppliers: A few large medical device companies dominate the supply of key gastroenterology equipment. This gives them strong bargaining power over prices.
Threat of new substitutes: New screening and diagnostic techniques continue to emerge but no major substitute exists for core gastroenterology procedures in the near future.
Competitive rivalry: The gastroenterology market sees competition among many global players. Companies compete based on product innovation, service quality, and expansion into new geographic regions.
Geographical regions
North America accounts for the largest share of the gastroenterology market, valued at over US$ 15 Bn in 2024. This is attributed to the rising geriatric population, increasing prevalence of gastrointestinal diseases, and growing adoption of endoscopic procedures in the region.
The Asia Pacific region is poised to grow at the fastest pace during the forecast period. This can be credited to factors like rising healthcare spending, growing medical tourism, increasing awareness about gastrointestinal disorders, and expansion efforts by leading market players in developing countries. Rising economic prosperity in China and India is further propelling the demand for gastroenterology services and technologies.
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1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
