US Gastrointestinal Device Market to Surpass $9.3B, Driven by Rising GI Conditions and Advanced Screening Adoption
VANCOUVER, BC, CANADA, June 17, 2024 /EINPresswire.com/ -- iData Research, a leading international market research firm, proudly announces the release of its comprehensive market report on the United States gastrointestinal (GI) endoscopic devices sector. This report provides in-depth market data, forecasts, and analysis of key competitors, offering valuable insights into the current trends and future outlook of the GI endoscopic devices market.
The demand side of the GI endoscopic devices market is experiencing significant consolidation, with hospitals acquiring outpatient facilities and the expanding influence of group purchasing organizations (GPOs). Alongside these developments, reimbursement cuts across the GI space are placing downward pressure on average selling prices, which is expected to limit market growth throughout the forecast period.
Despite these challenges, several factors are anticipated to drive market growth. The increasing prevalence of GI-related conditions, the surge in colorectal cancer screening programs, and the adoption of new technologies are key contributors. Notably, innovations such as FIT-DNA tests (like Exact Sciences' Cologuard) and single-use endoscopes are expected to experience significant growth over the forecast period.
Advances in technology and the rising adoption of single-use devices are particularly noteworthy. Emerging products, such as single-use colonoscopes and gastroscopes from leading companies like Ambu and Boston Scientific, address critical needs for infection prevention and operational efficiency in healthcare settings. These innovations are anticipated to gain substantial market share and drive overall market growth.
US GI Endoscopic Devices Market Insights
Technology and Innovation
The US GI endoscopic devices market is poised for significant advancements with the introduction of single-use devices and innovative screening technologies. The adoption of FIT-DNA tests and single-use endoscopes is expected to grow, driven by their effectiveness in improving diagnostic accuracy and reducing the risk of cross-contamination.
Market Dynamics
The consolidation trend among healthcare facilities and the expanding reach of GPOs are reshaping the demand landscape. While these developments put pressure on average selling prices, the growing need for advanced diagnostic and therapeutic tools for GI conditions presents opportunities for market growth.
Future Outlook
Despite the pressures from reimbursement cuts and market consolidation, the US GI endoscopic devices market is set for a net positive growth trajectory. The increasing prevalence of GI-related conditions, the adoption of advanced screening programs, and technological innovations are expected to drive market expansion over the forecast period.
The report offers extensive data on market sizes, unit sales, detailed competitive analysis, and forecasts that include the implications of current market dynamics. This valuable information serves as a strategic tool for existing and potential market participants in understanding the competitive landscape and identifying market trends.
For more details or to purchase the report, please visit the link below:
https://idataresearch.com/product/gastrointestinal-endoscopic-devices-market-united-states/
iData Research stands out as the premier market research and intelligence provider, offering unparalleled insights and comprehensive data analysis across a multitude of industries. With a strong reputation and a proven track record, iData Research has solidified its position as the best choice for businesses seeking to make informed decisions in today's dynamic market landscape.
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Emma Matrick
iData Research
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