Gastrointestinal Systems Market Trends

Growth Drivers

• Growing Prevalence of Gastrointestinal Diseases – On account of the increasing prevalence of gastrointestinal disorders such as Barrett's esophagus, gastroesophageal reflux disease (GERD), and colorectal cancer, the market is expected to expand more in the upcoming years. Further, RFA a less invasive and efficient therapeutic method is frequently useful in treating these types of disorders. According to a survey of over 70,000 people from 33 countries, it was discovered that more than 35% of adults have a functional gastrointestinal disease.
• Increasing Health Spending – On account of the increase in health spending, hospitals, and healthcare providers may be able to invest in new medical technologies such as RFA systems, which as a result is estimated to drive market growth. According to the most recent data, in 2021, health spending in the US increased by over 2%.
• Rising Geriatric Population – The elderly population is more prone to gastrointestinal conditions, and the rising number of elderly populations across the globe is estimated to drive market growth. According to the World Health Organization (WHO), the proportion of people over 60 years old in the world will nearly double from 12% to 22% by 2050.

Challenges

• Challenges associated with Stomach Cancer The increasing concern amongst individuals for the difficult diagnosis of stomach cancer is one of the major factors predicted to slow down the market growth. For instance, RFA is frequently used to treat early-stage stomach cancer, which can be challenging to diagnose. As a result, the number of stomach cancer patients who qualify for RFA treatment may be reduced.
• Devices for Gastrointestinal Radiofrequency Ablation Are Minimally Invasive
• Exorbitant Treatment Costs