Over 70% of Mechanical Gastrointestinal Bleeding Treatment Devices Sold to be Used for Upper GI Bleeding Treatment
Fact.MR’s latest market analysis highlights insights into developments across various segments within the global gastrointestinal bleeding treatment market. These include classification on the basis of product type, GI tract division, and end-users. The study also covers trends, opportunities, threats, and restraints affecting growth in the market.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global mechanical gastrointestinal bleeding treatment market is poised to expand at a steady 5.1% CAGR, reaching a valuation of US$ 849.79 Mn by 2026. Rising incidence of gastrointestinal bleeding among the geriatric population is spurring demand for effective and easily available Mechanical Gastrointestinal Bleeding Treatment Devices.
In addition to this, the demand for Mechanical GI bleeding treatment and therapeutics burgeoned amid COVID-19 crisis. Studies have shown that the novel coronavirus affects the gastrointestinal tract of infected patients, which further leads to nausea, diarrhea, and vomiting.
With rising cases of COVID-19 and health disorders caused due to lifestyle changes, sales of gastrointestinal bleeding treatment products are expected to rise over the forecast period.
Technological advancements in the healthcare sector also are leading to developments in gastrointestinal bleeding treatment market. The introduction of hemostatic sprays and stents to control gastrointestinal bleeding is expected to bode well for the market in the forthcoming years.
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For managing upper GI tract bleeding, transcatheter arterial embolization procedures have become the first line of therapy. Ongoing advancements in device technology and new embolic agents have improved outcome of interventional radiology in managing hemorrhage. These devices are used to treat peptic ulcer bleeding, trauma bleeding, and malignant diseases.
Improvements in interventional radiology therapy, closure devices, and mechanical devices for Mechanical GI bleeding treatment are expected to continue augmenting growth of the market.
As per Fact.MR, North America is projected to continue its dominance in the global gastrointestinal bleeding treatment market. Increasing hospitalization, rapid adoption of technologically advanced medical equipment, and easy availability of novel healthcare products are expected to provide tailwinds to sales of GI bleeding treatment products.
Advent of GI bleeding treatment devices such as padlock clips, over-the-scope clips, hemosprays, and self-expanding stents is expected to propel sales in the gastrointestinal bleeding treatment market,” says a Fact.MR analyst.
Key Takeaways:
- Sales of endoscopic hemostatic devices are expected to account for more than 50% of the total gastrointestinal bleeding treatment market.
- The mechanical devices segment is slated to expand at a steady 6.1% CAGR over the forecast.
- In terms of application, the upper GI tract segment is projected to command more than 70% of the total gastrointestinal bleeding treatment market.
- Strong presence of market leaders in North America will place it as a lucrative market, holding over 2/5th of the total gastrointestinal bleeding treatment market share.
- Sales of Mechanical Gastrointestinal Bleeding Treatment Devices in the Asia Pacific region are poised to grow at a 6% CAGR over the forecast period.
Growth Drivers:
- Rising incidence of lower GI tract conditions such as irritable bowel syndrome (IBS) and vascular ectasia is expected to boost demand for Mechanical Gastrointestinal Bleeding Treatment Devices.
- Product developments such as hemostatic powders and radiotherapy ablation will continue driving sales of Mechanical Gastrointestinal Bleeding Treatment Devices.
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Competitive Landscape
Leading players operating in the global gastrointestinal bleeding treatment market are investing in research and development to launch innovative and technologically advanced products in the market. Besides this, mergers, acquisitions, and collaborations are expected to assist market leaders in gaining a competitive edge.
For instance, Boston Scientific Corporation offers a wide range of products within the GI bleeding treatment market. The company’s Speedband Superview Super 7TM Multiple Band Ligator is used for endoscopic ligation of esophageal varices and anorectal hemorrhoids.
Key Players in the Gastrointestinal Bleeding Treatment Market Include:
- Boston Scientific Corporation
- Olympus Corporation
- CONMED Corporation
- Cook Medical
- Ovesco Endoscopy AG
- Erbe Elektromedizin GmbH
- Steris, plc
- US Medical Innovations, LLC
More Valuable Insights on Gastrointestinal Bleeding Treatment Market
Fact.MR provides an unbiased analysis of the gastrointestinal bleeding treatment market, presenting historical demand data (2014-2019) and forecast statistics for the period from 2020-2026. The study divulges compelling insights on the global gastrointestinal bleeding treatment market with a detailed segmentation on the basis of:
Product:
- Endoscopic Hemostatic Devices
- Thermal Devices
- Mechanical Devices
- Closure Devices
- Others
GI Tract Division:
- Upper GI Tract
- Lower GI Tract
End-users:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
Regions:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Key Questions Covered in the Gastrointestinal Bleeding Treatment Market Report
- The report offers insight into gastrointestinal bleeding treatment market demand outlook for 2020-2026.
- The market study also highlights projected sales growth for gastrointestinal bleeding treatment market between 2020 and 2026.
- Gastrointestinal bleeding treatment market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Gastrointestinal bleeding treatment market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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