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Pharmaceutical

Gastrointestinal Bleeding Treatment Market Indicate A Moderate Growth Rate Of 5.1% During The Forecast Period (2020-2026)

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.

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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 InsightsEndoscopic 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.

global gastrointestinal bleeding treatment 01

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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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Gastrointestinal Bleeding Treatment Market SegmentationFact.MR has studied the gastrointestinal bleeding treatment market with detailed segmentation on the basis of product, GI tract division, end-users and key regions.

Product

  • Endoscopic Hemostatic Devices
  • Thermal Devices
  • Mechanical Devices
  • Closure Devices
  • Others

GI Tract Division

  • Upper GI Tract
  • Lower GI Tract

End-users

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Others

Key Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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