Gastrointestinal Devices MarketSize and Trends

Increasing prevalence of gastroesophageal reflux disease and increase in colorectal cancer to drive growth of the overall gastrointestinal devices market

According to a report published by Healthline in 2012, pregnant women and persons above the age of 40 years are at a higher risk of gastroesophageal disease. The report further states that 25% of pregnant women experience symptoms of the disease, and it increases with time. Around 65% of patients who suffer from acid refluxes are 40 years of age or older. The occurrence of gastroesophageal reflux disease, especially in North America is growing at an alarming rate. This is mainly attributed to the sedentary lifestyle and high consumption of fast food in the region. According to the American Cancer Society, in 2017, colorectal cancer is expected to lead to 50,260 deaths in the U.S. Therefore, the gastrointestinal devices market in this region is expected to grow at a significant rate over the forecast period.

Increasing recognition of minimally-invasive procedures is projected to drive growth of the global gastrointestinal devices market during the forecast period. Conventional open surgeries can lead to a number of complications, which have forced the health centers to go for gastrointestinal devices throughout the globe. For instance, conventional open surgeries may cause a variety of post-operation complications such as blood clots, fatigue, pain, infections, and muscle atrophy. Some of the other factors driving the rising acceptance of minimally invasive surgeries are lower risks (post operation), lower cost and hospital stay, faster recovery period, and rapid results. These factors are projected to fuel the overall growth of the gastrointestinal devices industry.

Gastrointestinal Devices Market Taxonomy