GI Endoscopy Guidewire Market is segmented By Material (Nitinol, Stainless Steel, Hybrid), By Indication (Upper-GI endoscopy, ERCP, Endoscopic Ultrasound (EUS), Colonoscopy), By Design (Coated or Sheathed Wires, Monofilament Wires, Coiled Wire), By End-User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers & Surgical Centers, Research Laboratories & Academic Institutes), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.
GI Endoscopy Guidewire Market Overview
The Global GI Endoscopy Guidewire Market reached USD 257.5 million in 2022 and is projected to witness lucrative growth by reaching up to USD 349.9 million by 2030. The Global GI Endoscopy Guidewire Market is expected to exhibit a CAGR of 4.5% during the forecast period (2023-2030). A GI endoscopy guidewire's primary function is to make other equipment and devices easier to navigate and advance during endoscopic operations.
For instance, it can be used to direct the implantation of therapeutic devices during endoscopic retrograde cholangiopancreatography (ERCP) or endoscopic ultrasound (EUS) operations, such as stents or balloons. The guidewire offers stability and aids in navigating the GI tract's challenging anatomical features or strictures.
GI Endoscopy Guidewire Market Scope
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Metrics |
Details |
|
CAGR |
4.5% |
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Size Available for Years |
2021-2030 |
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Forecast Period |
2023-2030 |
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Data Availability |
Value (US$) |
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Segments Covered |
Product, Material, Distribution Channel, End User, and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
North America |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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GI Endoscopy Guidewire Market Dynamics
The Increasing Prevalence of GI Disorders Is Driving The Global GI Endoscopy Guidewire Market Growth.
These gastrointestinal (GI) disorders, also known as functional gastrointestinal disorders (FGIDs) or disorders of gut-brain interaction (DGBIs), are caused by any one or more of the following factors: motility disturbance, visceral hypersensitivity, altered mucosal and immune function, altered gut microbiota, and altered central nervous system processing. Costs associated with global health care are high as a result.
The United European Gastroenterology Journal has just released data from a new pan-European study on the burden of digestive disorders that was presented today at UEG Week 2022. The studies show a concerning rise in the incidence of various digestive diseases in past years. These include vascular intestinal problems, coeliac disease in children, pancreatitis, gastric reflux disease, gastritis, and chronic liver diseases.
Technical Advances In Endoscopy Are Driving The Global GI Endoscopy Guidewire Market Growth.
Though diagnosis and staging continue to be the "bread and butter" cornerstone of endosonography, the change of EUS from diagnostic to therapeutic has likewise only recently taken place. New technologies such as elastography, contrast harmonic EUS, needle-based confocal laser endomicroscopy, and serial improvements in EUS needles and tissue diagnostics have improved diagnostic EUS.
The introduction of novel applications, which have pushed the limits of the field, has placed therapeutics squarely at the center of EUS breakthroughs. Following its initial development for celiac plexus block and neurolysis to treat chronic pancreatitis and pancreatic cancer-related pain, EUS-guided fine needle injection has since opened up new possibilities, including targeted treatment of pancreatic lesions with alcohol or chemotherapeutics, and ablative techniques like EUS-guided radiofrequency ablation and photodynamic therapy.
Side Effects Associated With GI Endoscopy Guidewire is Hampering The Global GI Endoscopy Guidewire Market Growth.
When used by qualified healthcare practitioners, GI endoscopy guidewires are usually regarded as safe. However, their use may be accompanied by potential adverse effects or consequences, just like any medical operation or technology. Sometimes, minimal bleeding can occur while the guidewire passes through the digestive tract. Although this is typically minor and self-limiting, there may be times when extra actions are needed to stop the bleeding. The gastrointestinal tract's sensitive lining could potentially be hurt by the guidewire. Although this may cause localized inflammation or discomfort, it typically goes away without having a big impact.
GI Endoscopy Guidewire Market Segment Analysis
The global GI endoscopy guidewire market is segmented based on material, indication, design end-user, and region.
The Upper GI Endoscopy Segment Is Expected To Hold A Dominant Position In The Market Over The Forecast Period.
The upper-GI endoscopy segment accounted for the highest market stake accounting for approximately 37.8% of the GI endoscopy guidewire market in 2022. Esophagogastroduodenoscopy (EGD), another name for upper gastrointestinal (GI) endoscopy, is a procedure that enables visualization and inspection of the upper digestive tract, which includes the esophagus, stomach, and duodenum.
Various therapeutic treatments, including tissue sampling (biopsy), polyp removal, or stent implantation, may be carried out during upper GI endoscopy. In order to ensure precision and lower the chance of complications, a guidewire can help direct the insertion of these therapeutic devices to the desired location.
Source: DataM Intelligence Analysis (2023)
GI Endoscopy Guidewire Market Geographical Penetration
North America holds A Dominant Position In The Global GI Endoscopy Guidewire Market.
North America is estimated to hold around 38.3% of the total market share throughout the forecast period. Owing to the high prevalence of GI disorders in the region is increasing, increasing demand for minimally invasive procedures, active market players are the factors expected to boost the regional growth over the forecast period.
Gastroesophageal reflux disease (GERD), inflammatory bowel disease (IBD), and colorectal cancer are among the gastrointestinal disorders that are particularly common in North America. Endoscopic treatments for diagnosis and treatment are required due to the rising prevalence of these illnesses, which is boosting the demand for guidewires.
Source: DataM Intelligence Analysis (2023)
GI Endoscopy Guidewire Market Competitive Landscape
The major global players in the market include Boston Scientific Corporation, CONMED Corporation, COOK MEDICAL Inc, HOBBS MEDICAL INC, Olympus Corporation, Medico’s-Hirata Inc, Sumitomo Bakelite Co., Ltd, Diagmed Healthcare, Omnimed Ltd, and Merit medical systems, Inc among others.
COVID-19 Impact on GI Endoscopy Guidewire Market
Russia Ukraine Conflict Analysis
The Russia-Ukraine war may affect the GI endoscopy guidewire market due to a lack of facilities being impacted during times of geopolitical instability and economic uncertainty. Healthcare priorities frequently shift towards emergency treatment and trauma management during times of conflict and crisis. Guidewire demand may be impacted if non-urgent procedures or devices, such as specific endoscopic operations, are deprioritized.
Artificial Intelligence Analysis:
Artificial intelligence (AI) is increasingly being used in the GI endoscopy guidewire market to improve various aspects of data analysis. The GI endoscopy guidewire market has a lot of data that AI systems can process and analyze. This covers competitive environments, customer preferences, sales data, and market trends. AI can provide a thorough understanding of market dynamics, including variables impacting demand, market segmentation, and development potential, by extracting patterns and discovering correlations.
By Material
- Stainless Steel
- Nitinol
- Others
By Indication
- ERCP
- Upper-GI endoscopy
- Endoscopic Ultrasound (EUS)
- Colonoscopy
By Design
- Monofilament Wires
- Coiled Wires
- Coated or Sheathed Wires
By End-user
- Hospitals
- Research Laboratories & Academic Institutes
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- In May 2023, Olympus Corporation, a global medical technology company, announced that for the first time in the U.S., it presented the EVIS X1 endoscopy system, its most cutting-edge endoscopy system, at the Digestive Disease Week (DDW) annual meeting in Chicago.
Why Purchase the Report?
- To visualize the global GI endoscopy guidewire market segmentation based on the material, indication, design, end-user, and region and understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous GI endoscopy guidewire market-level data points with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global GI endoscopy guidewire market report would provide approximately 69 tables, 67 figures, and 195 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
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