GASTROENTEROLOGY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Gastroenterology Market Size and Trends

Global gastroenterology market is estimated to be valued at USD 35.12 Bn in 2024 and is expected to reach USD 53.10 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.

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Global gastroenterology market growth is driven by rising demand for minimally invasive procedures. Technological advancements in endoscopy such as high-definition imaging, narrow band imaging, capsule endoscopy, and others boosts the preference for endoscopy among patients and healthcare providers alike. Furthermore, increasing cases of gastrointestinal diseases due to change in lifestyle and eating habits has increased the need for early diagnosis and treatment. Other factors influencing the market growth include increasing healthcare expenditures in emerging economies and rising number of gastrointestinal disorder patients. Growing geriatric population also boosts demand. However, stringent regulatory approvals and high costs of gastrointestinal devices can hamper the market growth during the forecast period.

Increasing incidences of digestive disorders

Global gastroenterology market growth is driven by rising incidences of various digestive disorders across both developed and developing regions of the world. Digestive disorders and conditions such as gastroesophageal reflux disease (GERD), peptic ulcers, inflammatory bowel disease (IBD), irritable bowel syndrome (IBS), and liver diseases have become highly prevalent globally, thus, affecting people of all age groups. According to various medical studies and reports, over 25% of adults globally experience symptoms of common digestive issues like acid reflux, bloating or discomfort at least once a month.

High consumption of junk food rich in fats and oils, increasing stress levels, unhealthy lifestyles, pollution, and consumption of alcohol and tobacco has significantly contributed to rising cases of indigestion, acidity, ulcers and other stomach issues. Moreover, genetic predisposition and changing dietary habits has led to increase in incidences of IBD conditions like ulcerative colitis and Crohn's disease especially in developed nations of North America, Western Europe and other developed Asian economies. Due to changing consumer food choices, urbanization and adoption of western lifestyles, there has been rising incidence of digestive disorders in emerging markets. The high prevalence of these conditions boosts need for diagnosis, monitoring and treatment of various gastrointestinal disorders globally, thus, boosting demand for drugs, devices, diagnostic equipment and endoscopy procedures. For Instance, according to a study by Paulo Gustavo Kotze et al., published in the Therapeutic Advances in Gastroenterology journal in July 2020, the incidence and prevalence of ulcerative colitis (UC) in Latin America ranged from 0.04 to 8.00 per 100,000 and 0.23 to 76.1 per 100,000, respectively. This research, along with other studies, suggests that both the prevalence and incidence of ulcerative colitis are on the rise, fueling increased demand in the market

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Rising geriatric population

Growing global geriatric population aged 65 years or older can drive the market growth. According to estimates, their number is expected to double by 2050. According to the data published by United Nations, 1 in 6 people in the world will be over age of 65 years by 2050. Aging is usually accompanied by declining organ functions and rising vulnerability of various age-related diseases. Digestive disorders are highly common among the elderly population due to a number of physiological changes that naturally occur with aging. Factors like reduced stomach acid secretion, reduced digestion and absorption functions of the gastrointestinal tract, reduced gastric motility and delay in bowel movement predispose the elderly to gastrointestinal problems. Common age-related GI issues include gastroesophageal reflux, constipation, incontinence and risks of colon cancer.

Elderly people also tend to have multiple co-morbidities and are on long term medication usage which escalates their susceptibility to drug-induced GI complications. Growing geriatric demographic worldwide has resulted in a massive patient pool requiring gastroenterology treatments. It boosts demand for digestive medications, diagnostic and monitoring services as well as endoscopy devices. Ageing population also leads to increase in gastrointestinal cancers incidence especially in developed nations with Japan, North America and Western Europe home to the largest aged population burden globally. This rising trend of geriatric population can drive the global gastroenterology market growth.