According to a new report published by SNS Insider, the Gastrointestinal Endoscopic Devices Market Size was valued at USD 10.78 billion in 2023 and is forecasted to reach USD 16.84 billion by 2032, expanding at a compound annual growth rate (CAGR) of 5.11% during the forecast period of 2024–2032.
The growth of the gastrointestinal endoscopic devices market is attributed to the increasing prevalence of gastrointestinal (GI) diseases, rising awareness regarding early diagnosis, and technological advancements in endoscopic imaging and minimally invasive procedures. The market is witnessing significant investment from medical device manufacturers, aiming to introduce more efficient, compact, and patient-friendly tools for diagnosis and treatment.
Rising Incidences of GI Disorders Fueling Market Demand
The burden of gastrointestinal disorders such as colorectal cancer, Crohn’s disease, gastroesophageal reflux disease (GERD), and irritable bowel syndrome (IBS) continues to grow globally. The increasing demand for early and accurate diagnostic procedures is propelling the adoption of endoscopic devices. Furthermore, a significant rise in geriatric population—prone to GI ailments—also supports the market’s expansion.
According to recent estimates by the World Health Organization (WHO), gastrointestinal cancers are among the top five causes of cancer-related deaths worldwide, necessitating efficient diagnostic modalities. Endoscopic procedures offer real-time visualization, early detection, and minimally invasive solutions, thereby reducing hospital stays and post-operative complications.
Technological Advancements Driving Innovation
The market is undergoing rapid technological transformation with the integration of high-definition imaging systems, artificial intelligence (AI), and robotics in endoscopy. These innovations are enhancing procedural accuracy and improving clinical outcomes.
AI-powered endoscopic tools are increasingly being used to assist in identifying lesions, polyps, and other abnormalities with higher precision. Smart capsule endoscopy, 3D imaging, and wireless endoscopic systems are also gaining momentum, offering greater patient comfort and reducing procedure time.
Moreover, the use of disposable endoscopes is gaining popularity, especially in the wake of infection control challenges post-COVID-19. This has further boosted demand from outpatient surgical centers and ambulatory care units.
Hospitals Dominate End-User Segment
Hospitals held the largest share in the gastrointestinal endoscopic devices market in 2023 and are expected to maintain dominance throughout the forecast period. This is largely due to the availability of advanced infrastructure, skilled healthcare professionals, and increasing patient footfall.
Meanwhile, ambulatory surgical centers (ASCs) are projected to exhibit the fastest growth owing to cost-efficiency, reduced procedural time, and improved patient experience. Increasing investments in ASCs, especially in developed regions like North America and Europe, are providing lucrative growth opportunities for device manufacturers.
North America Leads, Asia-Pacific Emerges as Fastest-Growing Region
North America accounted for the largest market share in 2023, led by the United States due to the high prevalence of GI diseases, favorable reimbursement policies, and strong presence of leading industry players. However, Asia-Pacific is poised to register the highest CAGR during the forecast period due to improving healthcare infrastructure, growing medical tourism, and rising awareness in countries such as China, India, and South Korea.
Emerging economies are focusing on strengthening diagnostic capabilities through the establishment of specialty clinics and the adoption of modern endoscopic technologies, further fueling market growth.
Competitive Landscape
Key players operating in the gastrointestinal endoscopic devices market include Olympus Corporation, Boston Scientific Corporation, Fujifilm Holdings Corporation, Medtronic, Stryker Corporation, Karl Storz, Hoya Corporation, Cook Medical, CONMED Corporation, and Smith & Nephew.
These companies are actively engaging in strategic partnerships, mergers, acquisitions, and product launches to strengthen their market position. Innovations aimed at cost reduction, improved imaging, and patient safety continue to be the central focus of R&D initiatives.
Future Outlook
The gastrointestinal endoscopic devices market is on a robust growth trajectory with favorable dynamics such as aging populations, increasing GI disorders, and evolving healthcare technology. Market players that invest in innovation, value-based care, and patient-centric solutions are likely to witness sustained success over the next decade.
As healthcare systems globally push for early diagnosis and non-invasive procedures, gastrointestinal endoscopic devices will remain a cornerstone in diagnostic and therapeutic interventions.
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Contact Us:
Akash Anand – Head of Business Development & Strategy
📧 info@snsinsider.com
📞 Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
Other Trending Reports
High Throughput Screening [HTS] Market Share
Microplate Reader Market Share