Global Gastrointestinal Bleeding Treatment Market Insights:
Projections for global gastrointestinal bleeding treatment market indicate a moderate growth rate of 5.1% during the forecast period (2020-2026). The market is set to surpass a value of US$ 849.79 by the end of 2026.
New product launches with technological enhancements have further augmented the market in the past. For instance, Cook Medical’s Hemospray, an endoscopic hemostat, received FDA approval in 2018 in line with gastrointestinal bleeding treatment guidelines.
The COVID-19 pandemic is poised to burgeon production of GI bleeding treatment products. Studies have proven that the COVID-19 virus affects the gastrointestinal tract of patients, causing diarrhea, nausea and vomiting. COVID-19 is soon emerging as one of the main gastrointestinal bleeding causes.
Global Gastrointestinal Bleeding Treatment Market Trends
Endoscopic hemostasis has gained significant traction as an approach to treat GI bleeding. Established treatment modes include mechanical therapy, injection therapy and thermal therapy. The approach is well known for its ability to reduce mortality associated with GI bleeding.
Leading technological developments in development of hemostatic sprays and stents are being adopted to stop GI bleeding. This is expected to augment the gastrointestinal bleeding treatment market in the future.
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Global Gastrointestinal Bleeding Treatment Market: Technological Insights:
Various technological advancements have streamlined the GI bleeding treatment market in the past few years. These include hemosprays, over-the-scope clips, padlock clips, radiofrequency ablation and self-expanding metal stents. Hemospray is a hemostatic powder developed by Cook Medical for treating gastrointestinal bleeding.
In recent years, transcatheter arterial embolization procedures have become the first-line therapy for managing upper GI bleeding that is refractory to endoscopic hemostasis. Advances in catheter-based techniques and newer embolic agents has broadened the scope of interventional radiology in managing hemorrhage. Transcatheter arterial embolization is effective for several indications. These include peptic ulcer bleeding, malignant diseases, and iatrogenic or trauma bleeding.
Global Gastrointestinal Bleeding Treatment Market: Product Insights
Endoscopic hemostatic devices are anticipated to account for more than half of the total gastrointestinal bleeding treatment market throughout the forecast period. Among these devices, the mechanical devices sub-segment is set to register maximum growth.
Increased usage of these devices for first line of treatment is a key driver behind the sub-segment’s growth. The Mechanical Devices sub-segment is set to expand at an impressive CAGR of 6.1% during the forecast period.
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Global Gastrointestinal Bleeding Treatment Market: Application Insights:
Upper GI Tract bleeding is one of the most prevalent symptoms of peptic ulcers. Other causes include esophageal varices, gastric varices, hemorrhagic gastritis and Mallory-Weiss syndrome. These conditions account for nearly 250,000 hospitalizations in the U.S. and over 300,000 in the U.K.
Based on peptic ulcers treatment trends, the upper GI tract segment is projected to capture more than 70% of the global GI bleeding treatment market. The segment shall expand at a CAGR of 4.8% during the forecast period.
At the same time, lower GI tract conditions such as diverticulosis, hemorrhoids, irritable bowel syndrome, colon polyps or cancer and vascular ectasia, have increased. This increasing prevalence of lower GI tract infections is anticipated to leverage market prospects.
The lower GI tract segment is anticipated to capture nearly three-tenths of the global gastrointestinal bleeding treatment market, expanding at a CAGR of 4.0% during the forecast period.
Global Gastrointestinal Bleeding Treatment Market Regional Insights
North America is set to retain hegemony over the gastrointestinal bleeding treatment market throughout the forecast period. The increasing hospitalization rate, strong presence of market leaders and product approvals such as the approval of Hemospray, are leading drivers of the burgeoning market share. Hemospray cost is also anticipated to be competitive in this region. Analysts project North America’s market share at over two-fifth of the total GI bleeding market.
Pursuing North America is Asia-Pacific, with a projected CAGR of 6% during the forecast period. Growth in the Asia-Pacific is attributed to increase in geriatric population, rise in prevalence of GI bleeding with age, and significant product launches and strategic acquisitions by leading market players. By 2026, Asia-Pacific is expected to surpass a valuation of US$ 96.2 Mn.
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Product Launches by Key Players to follow Gastrointestinal Bleeding Treatment Protocol
The global gastrointestinal bleeding treatment market is consolidated, with the presence of three major players contributing half of the total revenue. These companies are Boston Scientific Corporation, Cook Medical and Olympus Corporation.
Boston Scientific Corporation develops, markets and manufactures a wide range of products within the GI market. For instance, it manufactures Speedband Superview Super 7TM Multiple Band Ligator. This device is used for endoscopic ligation of esophageal varices and anorectal hemorrhoids.
Olympus Corporation, another market leader, concentrates on expansion of manufacturing facilities and leveraging healthcare awareness programs to stimulate early diagnosis of diseases. It focuses on reform and development activities related to medical systems across the world.
COVID-19 Market Insights:
The COVID-19 pandemic has significant ramifications for gastrointestinal bleeding treatment market. Until recently, it was hypothesized that the COVID-19 virus primarily infects respiratory epithelial cells, and is transmitted via respiratory droplets.
However, several reports generated from a study conducted in February 2020 detected SARS-CoV-2 viral RNA in stool samples. Fecal occult blood testing indicated an upper gastrointestinal bleed in one of the patients.
Before the respiratory symptoms manifested, many patients reported severe cases of diarrhea, nausea, vomiting and abdominal discomfort. Therefore, it is imperative to safeguard GI disorders patients from the COVID-19 attack.
Important GI bleeding market players have thus streamlined their production in order to meet the burgeoning needs of healthcare providers. Erbe Elektromedizin GmBh, is ensuring security of supply so as not to experience any shortage of essential medical equipment. They have introduced shift-based operations to ensure sustainable production.
On a similar plane, Cook Medical has implemented shift changes and is closely monitoring its raw material supply chain. The company produces the Instinct TM Endoscopic Hemoclip, for the purpose of endoscopic marking and hemostasis for bleeding ulcers.
Moreover, hospitals, clinics, and other healthcare settings are engaged in simple management of endoscopes, endoscope reprocessing, and storage areas for gastrointestinal treatment purposes.
These include high-level disinfection through manual cleaning, reprocessing of endoscopes by experienced staff, and meticulous room cleaning post every procedure.
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Leading manufacturers have invested heavily in introducing technological advancements in order to broad base their market presence. Moreover, the COVID-19 pandemic outbreak shall create an upsurge in the market, owing to recent studies concluding potential infections in the GI tract.
Global Gastrointestinal Bleeding Treatment Market: Report Scope:
The recent study by Fact.MR on the global gastrointestinal bleeding treatment market provides a 6-year forecast on the key drivers, restraints and opportunities for expansion.
An in-depth analysis across various segments of the gastrointestinal bleeding treatment market has been incorporated in the report. Segmentation has been done on the basis of product, GI tract division and end-user. Each segment includes analysis based on revenue, market share and growth rate.
A detailed regional analysis has also been provided, based on the following five geographies: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Each region incorporates market analysis based on the segments highlighted above.
In addition, a section on the competitive landscape has also been provided, incorporating information on key market players, their strategies for expansion and an overview of their strengths, weaknesses, opportunities and threats.
Gastrointestinal Bleeding Treatment Market Segmentation
Fact.MR has studied the gastrointestinal bleeding treatment market with detailed segmentation on the basis of product, GI tract division, end-users and key regions.
- Endoscopic Hemostatic Devices
- Thermal Devices
- Mechanical Devices
- Closure Devices
GI Tract Division
- Upper GI Tract
- Lower GI Tract
- Ambulatory Surgical Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
Gastrointestinal bleeding treatment market- Scope of the Report
The recent study by Fact.MR on gastrointestinal bleeding treatment market offers a 6-year forecast between 2020 and 2026. The study analyzes crucial trends that are currently determining the growth of gastrointestinal bleeding treatment market.
This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the treatment of gastrointestinal bleeding. The study also provides dynamics that are responsible for influencing the future status of the gastrointestinal bleeding treatment market over the forecast period.
A detailed assessment of gastrointestinal bleeding treatment market value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the gastrointestinal bleeding treatment market along with their product portfolio enhances the reliability of this comprehensive research study.
Gastrointestinal bleeding treatment market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in gastrointestinal bleeding treatment market across the globe.
A comprehensive estimate on gastrointestinal bleeding treatment market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of gastrointestinal bleeding treatment drugs during the forecast period. Price point comparison by region with global average price is also considered in the study.
Gastrointestinal bleeding treatment market: Analysis on market size evaluation
The gastrointestinal bleeding treatment market has been analyzed for each market segment, in terms of value (US$ Mn).
Market estimates at global and regional levels for gastrointestinal bleeding treatment is available in terms of “US$ Mn” for value, along with market attractiveness evaluation in the report. A Y-o-Y growth contrast on prominent glaucoma therapeutic segments, along with market attractiveness evaluation has been incorporated in the report.
Gastrointestinal bleeding treatment market: Inspected assessment on regional segments
Key sections have been elaborated in the gastrointestinal bleeding treatment market report, which have helped to deliver projection on the regional markets. These chapters include the regional macros (economic and business environment outlook), which are expected to have a momentous influence on the growth of gastrointestinal bleeding treatment market during the forecast period.
Country-specific valuation on demand for gastrointestinal bleeding treatment has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. Detailed breakup in terms of value for emerging countries has also been included in the report.
Gastrointestinal bleeding treatment market: In-depth analysis on competitive landscape
The report sheds light on the leading manufacturers of gastrointestinal bleeding treatment drugs along with their detailed profiles. Essential and up-to-date data information related to the market performers, who are principally engaged in the production of gastrointestinal bleeding treatment drugs, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit the report readers to take preemptive steps in advancing their businesses.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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