Gastrointestinal Bleeding Treatment Market – Snapshot
Gastrointestinal bleeding is also known as gastrointestinal hemorrhage. It includes all forms of bleeding of gastrointestinal tract, from the mouth. Endoscopic hemostatic devices are the primary line of treatment for gastrointestinal bleeding. The major endoscopic hemostatic devices include thermal and mechanical.
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The global gastrointestinal bleeding treatment market is anticipated to expand at a CAGR of 4.5% during the forecast period. Growth of the market can be attributed to rise in demand for endoscopic hemostasis which is considered the first line of treatment for gastrointestinal bleeding, increase in geriatric population, surge in applications of endoscopic hemostasis, significant product launches, strategic acquisitions by key players, and government and non-government funding for research and to spread awareness about gastrointestinal bleeding treatment. However, shortage of trained gastroenterologists, significant product recalls, and limitations of endoscopic treatment are likely to hamper the growth of the global market.
In terms of product, the global gastrointestinal bleeding treatment market has been segmented into endoscopic hemostatic devices, closure devices, and others. The endoscopic hemostatic devices segment has been categorized into mechanical devices and thermal devices. The thermal devices sub-segment dominated the endoscopic hemostatic devices segment in 2017. However, the mechanical devices sub-segment is anticipated to expand at a high CAGR during the forecast period. Growth of the segment can be attributed to increase in usage of these devices for the treatment of upper GI tract bleeding. For instance, band ligation is considered to be the first line of treatment for esophageal varices.
Based on GI tract division, the global gastrointestinal bleeding treatment market has been classified into upper GI tract and lower GI tract. The upper GI tract segment dominated the market in 2017 and the trend is likely to continue during in the forecast period. Growth of the segment can be attributed to increase in the number of hospitalizations owing to upper GI tract bleeding. Upper GI tract bleeding is one of the common emergencies reported and accounts for over 250,000 hospitalizations in the U.S. and over 300,000 hospitalizations in the U.K. each year. Peptic ulcer which is one of the common causes of upper GI tract bleeding is known to have significant prevalence owing to increase in H. pylori infections.
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In terms of end-user, the global gastrointestinal bleeding treatment market has been divided into hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment dominated the market in 2017. It is expected to continue to dominate the market during the forecast period. Hospitals are major end-users of endoscopic hemostatic devices. According to government health care facilities, hospitals have reimbursement plans and systems with advanced technology for disease treatment. Growth of the segment is attributed to increase the number of treatments and hospital facilities across the world. According to the American Hospital Association, the total number of registered hospitals in the U.S. stood at nearly 5,686 in 2015.
In terms of region, the global gastrointestinal bleeding treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe accounted for over 75% share of the market in 2018. The two regions are anticipated to continue to dominate the global market in terms of revenue during the forecast period. North America is expected to dominate the global market during the forecast period owing to the presence of leading market players and strategic mergers and partnerships among players. The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period. Growth of the market in the region is attributed to increase in the geriatric population, rise in prevalence of GI bleeding with age, and growing focus of market players on exploiting the untapped markets in India and Japan.
Key companies operating in the global gastrointestinal bleeding treatment market include Boston Scientific Corporation, Olympus Corporation, CONMED Corporation, Cook Medical, Ovesco Endoscopy AG, Erbe Elektromedizin GmbH, STERIS plc, and US Medical Innovations, LLC.
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Intensive Smoking and Drinking Habits leading to Intestinal Diseases to Aid in Expansion of Gastrointestinal Bleeding Treatment Market
Gastrointestinal bleeding is otherwise called gastrointestinal drain. Endoscopic hemostatic gadgets are the essential line of treatment for gastrointestinal bleeding. The major endoscopic hemostatic gadgets incorporate warm and mechanical. Development of the market can be credited to ascend sought after for endoscopic hemostasis which is viewed as the primary line of treatment for gastrointestinal bleeding, expansion in geriatric populace, flood in uses of endoscopic hemostasis, critical item dispatches, vital acquisitions by central participants, and government and non-government financing for research and to spread mindfulness about gastrointestinal bleeding treatment. In any case, lack of prepared gastroenterologists, critical item reviews, and restrictions of endoscopic treatment are probably going to hamper the development of the worldwide market.
The fundamental driver of gastrointestinal (GI) bleeding is concentrated smoking and liquor utilization that seriously influences gastric emissions. The adjustment of way of life designs has expanded the quantity of cases with GI bleeding. the rising accomplishment of endoscopy treatments has prompted the interest for endoscopy hemostatic techniques for GI bleeding treatment. It is utilized as a broad instrument to stop dynamic bleeding and forestall rebleeding. The quantity of individuals matured over 65 and experiencing GI bleeding and request from this age bunch is expanding and accordingly driving the market. Expanded financing in medical clinics has brought request up on the lookout. In any case, the excessive cost of endoscopy gadgets may hamper market development.
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Ascend in commonness of gastrointestinal bleeding with age, expansion in occurrence of re-bleeding cases, and flood in appropriation of endoscopic hemostasis as the essential line of treatment for gastrointestinal bleeding add to the development of the worldwide market. Higher pace of hospitalization because of upper GI lot bleeding, higher pervasiveness than lower GI lot bleeding, and simplicity of analysis of upper GI plot bleeding add to the development of the portion. Besides, rate of upper gastrointestinal bleeding ascends with age attributable to increment in utilization of non-steroidal calming drugs (NSAIDs) which incite ulcerogenensis in older patients. As per government medical services offices, emergency clinics have repayment plans and frameworks with cutting edge innovation for illness treatment. Development of the section is ascribed to expand the quantity of treatments and emergency clinic offices across the world.
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Transparency Market Research (TMR) has published a new report titled, “Gastrointestinal Bleeding Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”.
According to the report, the global gastrointestinal bleeding treatment market was valued at US$ 575.3 Mn in 2017 and is projected to expand at a CAGR of 4.5% from 2018 to 2026.
The endoscopic hemostatic devices segment has been categorized into thermal devices and mechanical devices.
Rise in demand for these devices is owing to their ability to restore hemostasis in majority of the cases.
Moreover, incidence of upper gastrointestinal bleeding rises with age owing to increase in consumption of non-steroidal anti-inflammatory drugs (NSAIDs) which provoke ulcerogenensis in elderly patients.Request Customization on Gastrointestinal Bleeding Treatment Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR_id=47580 Hospitals Segment Held Major ShareIn terms of end-user, the global gastrointestinal bleeding treatment market has been divided into hospitals, clinics, ambulatory surgical centers, and others.
The primary cause of UGIB in India is oesophagial varices which is reported in over 60% of the patients.
A detailed study by Fact.MR on the Gastrointestinal Bleeding Treatment market provides an in-depth evaluation of various growth drivers, trends, and opportunities, the prevailing regulatory landscape in various regions, and the competitive scenario amidst the COVID-19 pandemic.
The global gastrointestinal bleeding treatment market is set to expand moderately at a CAGR of 5.1% between 2020 and 2026, attributed to preference for endoscopic hemostasis to correct GI problems.
The report provides insight into the major drivers and key restraining factors, emerging trends, and sources of new revenue streams over the assessment period.
To make a granular assessment of the current and projected opportunities and revenues, the report segments the Gastrointestinal Bleeding Treatment market on the basis of region, end-user/application, and product/service/offering type.
Some of the key regions and countries covered in the analysis are: North AmericaLatin AmericaEuropeJapanAPEJMEAProduct-wise Assessments: The report segments the Gastrointestinal Bleeding Treatment market based on major offerings by various players.
It provides a detailed scenario of the existing demand and consumption patterns of various key product types.
Gastrointestinal Bleeding Treatment Devices Global Market Report 2021 by The Business Research Company is the most comprehensive report available on the market, being wide-ranging both in terms of chronology and geography.
It covers the historic period – 2015-2020, and the forecast period – 2021-2025, with additional forecasts for 2025-2030.
The report helps gain a truly global perspective as it covers 60 geographies, focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.TBRC’s market report includes a chapter on the COVID-19 impact on the gastrointestinal bleeding treatment devices industry, which gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market and how companies can strategize to bounce back from it.
With updated market numbers according to the effects of the coronavirus, the report provides the most accurate expected gastrointestinal bleeding treatment devices market growth numbers from 2021-2030.
Request a Sample of the report: https://www.thebusinessresearchcompany.com/sample.aspx?id=5307=smp The global gastrointestinal bleeding treatment devices market is expected to grow from $682.30 million in 2020 to $722.37 million in 2021 at a compound annual growth rate (CAGR) of 5.9%.
The growth in the gastrointestinal bleeding treatment devices market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
