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.
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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.
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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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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- 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
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