Global Gastrointestinal Electrocardiograph Market Size By Product (Electrogastroenterography (EGEG), Cutaneous Electrogastrography), By Application (Gastric Cancer Diagnosis, Irritable Bowel Syndrome), By Geographic Scope And Forecast

Gastrointestinal Electrocardiograph Market Size And Forecast

Gastrointestinal Electrocardiograph Market size is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2023 to 2030.

The increasing incidences of gastrointestinal diseases are driving the demand for Gastrointestinal Electrocardiograph Market. Furthermore, technological advancements in diagnostic technologies are boosting the growth of the Global Gastrointestinal Electrocardiograph Market. The Global Gastrointestinal Electrocardiograph Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Gastrointestinal Electrocardiograph Market Definition

The gastrointestinal tract and accessory organs make up the gastrointestinal system. This system is a long hollow tube that extends from the oral cavity via the esophagus, stomach, small and large intestine, rectum, and lastly to the anus from where undigested food and body wastes are expelled. The accessory organs help to secrete enzymes into the digestive tract and these organs include salivary glands, pancreas, gall bladder, and liver.

The gastrointestinal tract helps in processing nutrients and energy from food and fluids. Some of the most common gastrointestinal disorders are mobility and functional gastrointestinal disorders. Additionally, esophageal disorders, gastro-duodenal disorders, bowel disorders, and abdominal pain are the common types of gastrointestinal diseases that are caused due eating a low-fiber diet, a sudden change in routine, stress, and lack of exercise.

Symptoms of gastrointestinal disorders include pain, bloating, abdominal distension, vomiting, nausea, diarrhea, constipation, and heartburn. Diseases such as peptic ulcers, hemorrhoids, ulcerative colitis, colonic polyps, and Crohn’s disease cause gastrointestinal bleeding. This is where the Gastrointestinal Electrocardiograph comes into the picture by detecting upper gastrointestinal bleeding. Medication and some lifestyle changes are recommended by the healthcare specialist for the treatment of gastrointestinal diseases.

Global Gastrointestinal Electrocardiograph Market Overview

The Global Gastrointestinal Electrocardiograph Market is anticipated to witness significant growth over the forecast period. The growth of the Gastrointestinal Electrocardiograph Market is positively influenced by factors such as the high prevalence of gastric disorders, increased use of advanced diagnostic technologies, rapidly developing medical infrastructure, and increasing healthcare expenditure. Increasing incidences of chronic gastrointestinal diseases are the primary driver behind the growth of the Global Gastrointestinal Electrocardiograph Market.

According to a report published by National Digestive Diseases Information Clearinghouse (NDDIC), around 70 million people in the U.S. are suffering from various digestive diseases. The report also states that owing to gastrointestinal disease around 245000 people were killed in 2009. Hence, the high prevalence of chronic gastrointestinal diseases fosters the growth of the Global Gastrointestinal Electrocardiograph Market. Additionally, according to the statistics report published by The Office for National Statistics, Government of the UK, the expenditure of the United Kingdom has surpassed from USD 101.8 Bn to USD 233.4 from 2002 to 2012.

This exponential growth of healthcare expenditure in developed countries such as the U.S., UK, and Japan are fuelling the growth of the Global Gastrointestinal Electrocardiograph Market. Further, the technological advancements for the diagnosis of gastrointestinal diseases are aiding the growth of the Gastrointestinal Electrocardiograph Market. However, some restraints are limiting the growth of the Global Gastrointestinal Electrocardiograph Market.

The cost associated with the Gastrointestinal Electrocardiograph is very high and hence consumers might move to different alternatives. Furthermore, the awareness related to Gastrointestinal Electrocardiograph in consumer’s minds is relatively lower which makes it harder for players to penetrate their product into the market. Owing to these restraints the growth of the Global Gastrointestinal Electrocardiograph Market will see a negative trend.

Global Gastrointestinal Electrocardiograph MarketSegmentation Analysis

The Global Gastrointestinal Electrocardiograph Market is Segmented on the basis of Product, Application, and Geography.

Gastrointestinal Electrocardiograph Market, By Product

• Electrogastroenterography (EGEG)
• Cutaneous Electrogastrography

Based on Product, the market is bifurcated into Electrogastroenterography (EGEG) and Cutaneous Electrogastrography. Electrogastrography is a non-invasive technique used for recording gastric myoelectrical activity. It finds applications in the field of electrophysiological studies and assessment of the efficacy of an intervention or therapy.

Gastrointestinal Electrocardiograph Market, By Application

• Gastric Cancer Diagnosis
• Irritable Bowel Syndrome
• Functional Dyspepsia
• Peptic Ulcer
• Motility Disorders
• Others

Based on Application, the market is bifurcated into Gastric Cancer Diagnosis, Irritable Bowel Syndrome, Functional Dyspepsia, Peptic Ulcer, Motility Disorders, and Others. The gastric cancer diagnosis segment is expected to record the largest market share during the forecast period. With a death toll of 12000 deaths in 2003, gastric cancer is the 13th most common cause of death in the U.S. Furthermore, the increasing prevalence of gastrointestinal diseases in the Asia Pacific region is expected to aid the growth of the gastric cancer diagnostics segment.

Gastrointestinal Electrocardiograph Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, the Global Gastrointestinal Electrocardiograph Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share of the market will be dominated by North America. Owing to the increasing prevalence of chronic gastrointestinal diseases and growing demand for advanced diagnostic technologies is prevailing the growth of the Gastrointestinal Electrocardiograph Market in North America. However, the Asia Pacific region is also anticipated to witness rapid growth in the Gastrointestinal Electrocardiograph Market. The growth can be credited to the large population of the region which suffers from gastrointestinal disorders.

Key Players

The “Global Gastrointestinal Electrocardiograph Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Synectics Medical, 3CPM, Gastroscan, GE Healthcare, Royal Philips Healthcare, Cardionet, Nihon Kohden, Compumed, Mindray Medical, Schiller, Welch Allyn, Spacelabs Healthcare, Mortara Instrument. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally. 

Key Developments

Partnerships, Collaborations, and Agreements

• In January 2019, Mindray teamed with Korle Bu Teaching Hospital to improve diagnostic patient care in Ghana. The corporation gave a SAL 6000 analyzer to boost the efficiency of local lab tests.

Mergers and Acquisitions

• Metrix GMBH is sold by OSI to the Chinese business Yuwell-Jiangsu Yuyue medical equipment & supply Co. in 2017.

Product Launches and Product Expansions

• In 2021, GE began working with Spectronic Medical to develop AI-based software.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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