Global Endoscopy Devices Market is slated to reach over US $69,578.8 million by the year 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
Growth in the global endoscopy devices market is resulting from the rising incidences of cancer, gastrointestinal disorders, and various chronic illnesses caused due to the growing geriatric population, obesity, diabetes, and major lifestyle changes. Minimal invasiveness, reduced hospital stay, lowered post-surgical complications, minimal scarring, and quicker recovery time help reduce the treatment costs, making endoscopy one of the most preferred procedures.
The market gains further impetus from the surging awareness of endoscopy techniques and its benefits to patients and medical personnel, and the availability of reimbursement for endoscopy procedures. Various technological enhancements, and diverse applications of these devices in the diagnosis and treatment of several diseases also amplify remuneration prospects. Moreover, the emerging market in several developing nations is anticipated to offer numerous growth opportunities to market players in the coming years.
The product spectrum of the endoscopy devices market can be bifurcated into endoscopes, endoscopic accessories, visualization systems, and other endoscopic equipment. Endoscopes are further categorized into rigid, capsule, flexible and robot-assisted endoscopes. The visualization systems are classified into endoscopy cameras, camera heads, light sources, transmitters & receivers, video processors & converters, and others. The various endoscopic accessories comprise tissue-sampling devices, overtubes (sleeves), suction traps, cleaning brushes, surgical dissectors, needle holders & needle forceps, and others. Other endoscopy equipment are further categorized into endoscopy ultrasound, endoscopy fluid management systems, and others. As per the data compiled by market researchers, the visualization systems segment led the global endoscopy devices market during the year 2017, in terms of revenue.
In terms of application, the endoscopy devices market is fragmented into bronchoscopy, laparoscopy, arthroscopy, cardio-pulmonary endoscopy, gastrointestinal endoscopy, ENT endoscopy, neurology, gynecology endoscopy, urology endoscopy, and others. According to the report, the gastrointestinal endoscopy application segment amassed the highest market share in 2017, owing to the growing prevalence of gastrointestinal disorders amid all age groups. Improving medical facilities, reimbursement policies, and burgeoning demand due to the amplifying number of patients, specifically in developing nations, are said to impel market growth in this sector.
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Speaking of the regional contribution, North America accounted for the highest market revenue in the global endoscopy devices market in 2017, and is poised to dominate the market throughout the projected period. Magnifying patient pool, favorable reimbursement policies, recent technological advancements, and surging awareness trigger market growth in the region. Furthermore, the Asia Pacific market is likely to expand at the highest CAGR throughout the estimated timeframe, due to surging GDP expenditure on healthcare, enhanced medical facilities, and the growing patient pool in the developing countries including India, Japan, and China.
The leading endoscopy devices market players profiled in the report are Boston Scientific Corporation, Fujifilm Holding Corporation, Olympus Corporation, Covidien PLC, Karl Storz GmbH, Conmed Corporation, Ethicon (Johnson & Johnson), Hoya Corporation (Pentax Medical System), Cook Medical Incorporated, Stryker Corporation, and Smith & Nephew, Incorporated.
The latest report entails an exhaustive analysis of the global endoscopy devices market drivers, challenges, and opportunities, in addition to the current market scenario & future trends. A brief synopsis of the prevailing industry trends, Porter's five forces, PEST analysis, value chain, regional landscape, competitive ranking analysis, and competitive vistas has also been included in the report.