Global Gastro Intestinal Bleeding Treatment Market Insights Forecasts to 2030

• The Global Gastro Intestinal Bleeding Treatment Market Size was valued at USD 735.5 million in 2021.
• The market is growing at a CAGR of 4.6% from 2021 to 2030.
• The Worldwide Gastro Intestinal Bleeding Treatment Market size is expected to reach USD 1095.7 million by 2030.
• Asia Pacific is expected to grow the fastest during the forecast period.

 

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The Global Gastro Intestinal (GI) Bleeding Treatment Market Size is expected to reach USD 1095.7 million by 2030, at a CAGR of 4.6% during the forecast period 2021 to 2030.  The global gastro intestinal bleeding treatment market is expected to be collectively driven by the high prevalence of upper gastrointestinal bleeding, the rise in applications of endoscopic hemostasis, and the growing geriatric population are the main factors that are boosting the growth of the gastrointestinal bleeding treatment market.

 

 Market Overview

The "gastrointestinal bleeding" (GI) terminology indicates blood loss that takes place inside the digestive system. A very serious symptom that affects the digestive organs such as the esophagus, stomach, and small intestine, including the duodenum, rectum, etc. is gastrointestinal (GI) hemorrhage, which is the bleeding of digestive tracts. the main factors that are boosting the growth of the gastrointestinal bleeding treatment market are the high prevalence of upper gastrointestinal bleeding, the rise in applications of endoscopic hemostasis, and the growing geriatric population. The World Health Organization (WHO) projects that the percentage of people over 60 in the world would nearly double from 12% to 22% between 2015 and 2050. In the treatment of gastrointestinal bleeding, endoscopy is the most common diagnostic used to determine the origin. The market for GI bleeding treatments has recently been streamlined by numerous technological advances. They include self-expanding metal stents, hemosprays, over-the-scope clips, padlock clips, and radiofrequency ablation. For the prevention of intestinal bleeding, Cook Medical invented the hemostatic powder called Hemospray.

 

Report Coverage

This research report categorizes the global gastro intestinal bleeding treatment market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global gastro intestinal bleeding treatment market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the global gastro intestinal bleeding treatment market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.

 

Driving Factors

The major driving factors for global gastrointestinal bleeding treatment market growth includes the favorable initiatives and rising prevalence of gastrointestinal diseases. Furthermore, public and private organisations, leading vendors, and initiatives to raise public awareness of digestive diseases have increased. For instance, Olympus, a significant market player, has established March as Colon Cancer Awareness Month each year and organizes a number of awareness initiative programme. Such factors will boost market growth during the forecast period. Also, the increase in the number of elderly populations leads to consequences, such as a greater incidence of life-threatening diseases which are sometimes related to gastrointestinal bleeding, further requiring treatment from hospitals. This accelerates the growth of the studied market. Moreover, the market is expanding due to the increasing demand for endoscopic hemostasis, which is the first treatment option for gastrointestinal bleeding. 

 

Restraining Factors

During the forecast period, several factors could restrict the market growth of gastro intestinal bleeding treatment, such as the global market's growth is projected to be restrained by the limitations on endoscopic therapy, a shortage of experienced gastroenterologists, and large product recalls. Moreover, due to an increase in the use of non-steroidal anti-inflammatory medicines (NSAIDs), which in older patients lead to ulcerogenesis, the rate of upper gastrointestinal bleeding rises with age. In the coming years, the lack of skilled workers is anticipated to hamper the growth of the market worldwide. Moreover, the high treatment cost and lack of reimbursement in developing economies will hamper the growth of the market during the forecast period.

 

Market Segmentation

 

In 2021, the endoscopic hemostatic device segment is dominating the market with the largest market share over the forecast period.

Based on the product, the gastro intestinal bleeding treatment market is bifurcated into endoscopic hemostatic devices, thermal devices, mechanical devices, closure devices, and others. Among these, the endoscopic hemostatic device is account for more than half of the total gastrointestinal bleeding treatment market throughout the forecast period. Also, the segment is expanding as a result of the rise in the usage of these devices to treat upper GI tract hemorrhages which may dominate the market during the forecast period.

 

The mechanical device segment is holding the second largest market share owing to the increased usage of these devices for the first line of gastro intestinal bleeding treatment is a key driver to grow the market during the forecast period.

 

In 2021, the upper GI tract segment is leading the market over the forecast period.

Based on GI tract division, the gastro intestinal bleeding treatment market is segmented into upper GI tract division and lower GI tract division. Among these, the upper GI tract segment is accounted for a major share of the GI tract bleeding treatment market due to the healthcare industry growth as a result of an increase in the number of hospitalizations brought on by upper GI tract bleeding. One of the most common causes of upper GI tract bleeding is a peptic ulcer, which is more likely as H. pylori infection grows. Because so many people have poor eating habits, peptic ulcer cases are extremely common globally. Furthermore, the rise in endoscopic hemostasis utilization and the aging population is contributing to the increasing demand for therapies for upper gastrointestinal bleeding. In addition, According to The National Institute of Diabetes and Digestive and Kidney Diseases, every year, upper GI bleeding accounts for about 100,000 hospitalizations in the United States.

 

In 2021, the hospital segment is dominating the market over the forecast period.

Based on the end users, the gastro intestinal bleeding market is classified into hospitals/clinics, ambulatory surgical centers & others. Among these segments, the hospital segment held the largest market share due to the hospitals having reimbursement plans and systems with cutting-edge technology for disease treatment, according to government healthcare facilities which may dominate the market growth over the forecast period. Also, the hospital is major end-users of endoscopic hemostatic devices.

 

Regional Segment Analysis of the gastro intestinal bleeding treatment market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is dominating the largest market share of 42 % during the forecast period

 

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North America accounts for the largest market share of 42% during the forecast period, owing to the high adoption of technology, increasing prevalence and incidences of GI diseases, and the growing presence of prominent vendors that develop endoscopic devices that will facilitate the gastrointestinal bleeding treatment market growth in North America over the forecast period. Furthermore, with the presence of significant market players and strategic alliances and mergers among players, North America is projected to dominate the global market during the forecast period.

 

Europe and the Asia Pacific are followed by North America as the market's largest regions, respectively due to the presence of a diverse patient pool and developing economies in these countries. Moreover, increase in the number of the elderly population, an increase in the prevalence of GI bleeding as people age, and a growing focus among industry participants on entering into underdeveloped markets in India and Japan.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the gastro intestinal bleeding treatment market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Boston Scientific Corporation
• Olympus Corporation 
• CONMED Corporation
• Cook Medical
• Ovesco Endoscopy AG
• Erbe Elektromedizin GmbH
• STERIS PLC
•  US Medical Innovations, LLC.
• Mayo foundation for medical education and research
• Pfizer Inc.
• Austin Gastroenterology
• Digestive Disorders Associates & MDTEC
• Gastro Liver Care

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In January 2021, the company, Boston Scientific Corp., declared that it has signed a definitive agreement to purchase Preventice Solutions Inc.
• In August 2022, Boston Scientific Corporation has acquired Obsidio, Inc., a privately held company that created the Gel Embolic Material (GEMTM) technology used to embolize blood vessels in the peripheral vasculature.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global Gastro Intestinal Bleeding Treatment Market based on the below-mentioned segments:

 

Global Gastro Intestinal Bleeding Treatment Market, By Product

• Endoscopic Hemostatic Devices
• Thermal Devices
• Mechanical Devices
• Closure Devices
• Others

Global Gastro Intestinal Bleeding Treatment Market, By GI Tract Division

• Upper GI Tract
• Lower GI Tract

Global Gastro Intestinal Bleeding Treatment Market, By End Users

• Hospital/Clinics
• Ambulatory Surgical Centres
• Others

 

Global Gastro Intestinal Bleeding Treatment Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa