Gastrointestinal Bleeding Treatment Market Size

Gastrointestinal Bleeding Treatment Market Analysis

The Gastrointestinal Bleeding Treatment Market is poised to witness a CAGR of 4% during the forecast period.

The COVID-19 pandemic had an adverse effect on the market. An article published in the National Library of Medicine in February 2021 reported that flexible endoscopy plays a major role in cancer screening, surveillance, and treatment programs. Due to the risk of COVID-19 transmission to healthcare workers, most healthcare facilities halted non-emergency and diagnostic procedures during the lockdown. The halting of procedures during the time of COVID-19 impacted the growth of the market. However, the market is anticipated to gain traction over the coming years owing to the resumption of diagnosis and treatment procedures globally. Furthermore, initiatives such as product launches are expected to increase market growth. For instance, in October 2021, FUJIFILM Healthcare Americas Corporation launched the El-740D/S dual-channel flexible endoscope. It is one of the first dual-channel endoscopes that has received approval from the United States Food and Drug Administration (FDA) for use in both upper and lower gastrointestinal applications. Such approvals from the regulatory authority to technically advanced and wide-application gastroscopes are also fostering the growth of the market segment.

Gastrointestinal bleeding refers to blood loss that occurs within the digestive organs. 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. Factors such as the growing burden of gastric cancers, tumors, and other chronic diseases, advancement in technology, and the launch of products are driving the growth of the market segment. According to the Centers for Disease Control and Prevention, in 2021, the number of adults diagnosed with ulcers in the United States was 14.8 million, with the percentage of adults diagnosed being merely 5.9%. Many governments, including the ones of developing countries, are taking initiatives to increase the diagnosis of these diseases.

Initiatives by key market players are another factor in market growth. For instance, in October 2021, FUJIFILM Healthcare Americas Corporation exhibited its full line of solutions for gastroenterologists at the annual convention of the American College of Gastroenterology (ACG) booth 1323 in Las Vegas on October 22-27. Similarly, in March 2021, Fujifilm Healthcare started operating as a fully owned subsidiary of FUJIFILM and completed the acquisition of the diagnostic imaging-related business of Hitachi Ltd. Thus, the increasing prevalence of diseases, coupled with initiatives by key market players, is expected to help the market growth.

However, the dearth of skilled labor is expected to restrain the growth of the market in the forecast period.