Endoscopic hemostasis devices market eyes 3.6% CAGR growth through 2034

Ageing populations are undergoing more frequent endoscopic screenings.

The endoscopic hemostasis devices market is projected to reach $2.95b by 2034 at a compound annual growth rate of 3.6%, according to Polaris Market Research.

The sector’s expansion is attributed to the increasing prevalence of gastrointestinal disorders such as peptic ulcer disease, diverticulosis, colorectal cancer, and inflammatory bowel disease.

Moreover, ageing populations, particularly in Japan and North America, are undergoing more frequent endoscopic screenings to detect early-stage cancers or precancerous polyps.

“The growing number of elderly patients undergoing such procedures has significantly increased the need for specialised hemostatic tools that provide minimally invasive control of bleeding,” the report said.