Australia gastroscopes market to see 7 per cent CAGR by 2033

Gastrointestinal (GI) cancers, especially in the stomach, colon, and oesophagus, are a major health challenge, impacting millions globally with severe symptoms like abdominal pain, weight loss, and bleeding. Endoscopes play a critical role in the early diagnosis and treatment of these cancers. As Australia is advancing in adopting innovative diagnostic tools, the gastroscopes market is projected to grow at a compound annual growth rate (CAGR) of 7 per cent between 2023 and 2033, forecasts GlobalData

GlobalData’s report on Gastroscopes Market Size by Segments, Share, Regulatory, Reimbursement, Procedures, Installed Base and Forecast to 2033 reveals that Australia held around 8 per cent of the Asia-Pacific (APAC) gastroscopes market share in 2023.

Aditi Dakshesh Parikh, Medical Devices Analyst at GlobalData, comments: “Traditional diagnostic methods in gastrointestinal cancer often miss the early-stage abnormalities, delaying treatment and reducing patient outcomes. The integration of artificial intelligence (AI) in gastroscopes is transforming this landscape by enhancing diagnostic accuracy and enabling real-time decision of malformations. This advancement provides a non-invasive solution that improves early detection, accelerates treatment, and ultimately boosts patient outcomes.”

Monash University has recently teamed up with Optiscan Imaging to create AI-powered gastrointestinal endoscopes. These endoscopes will use AI to detect and analyse abnormal cells in real-time, improving screening efficiency and patient prognosis.

Reflecting Australia’s broader efforts to advance digital health, Monash University’s Faculty of Information Technology has also partnered with Apollo Hospitals in India to share technology and data for healthcare innovation. As part of the agreement, Monash will offer educational sessions for Apollo healthcare professionals and apply its findings in practical settings, showcasing Australia’s leadership in integrating technology into global healthcare.

Parikh concludes, “By combining technology, such as AI-powered endoscopes, with collaborative healthcare initiatives, these partnerships are poised to improve accuracy and efficiency. As Australia’s gastroscopes market continues to grow, these innovations highlight the potential for transformative advancements in medical technology, offering promising solutions to the ongoing challenge of GI cancer care.”

Edits made by EH News Bureau