Endoscopy Device Market Growth And Trends Analysis
By Type, (Flexible Endoscopes), Therapy (Gastroscopy), Treatment &
Procedure (Abdominal, Gynecologic And Pelvic Organ Conditions), Application,
(Gastrointestinal Endoscopy), Accessory & Processor, Technology, And End
User - Global Forecast Till 2023
Market
Insights
Market
Research Future projected that the global Endoscopy Devices Market is set to flourish at the highest growth
rate of 6.3% during the forecast period of 2017-2023.
Consumers
opting minimally invasive surgeries, technological advancements, growing use of
endoscopy for diagnosis and treatment are some of the key drivers affecting the
growth of the global market. Improved healthcare experience has helped
healthcare facilities to engage consumers with a keen focus on convenience
factors. Consumers' preference to trustworthy healthcare devices has led to an
increase in demand for endoscopy devices.
The
endoscopy is used for both treating unstable patients and operations,
particularly in the case of complex diseases such as cancer and elderly
patients. Reduced risks of complication, post-operative pain, reduced
hospitalization, and lighter anesthesia are some of the factors that are driving
the demand for endoscopy devices. Moreover, growing awareness about minimally
invasive procedures and the growing prevalence of chronic diseases around the
globe is likely to drive the demand for endoscopy devices.
On
the other hand, lack of trained technicians and risk of infection caused by
endoscopes are some of the key factors impacting the growth of the market.
Market
Segmentation
The
global endoscopy device market has been segmented based on type, therapy,
treatment & procedure, application, accessory & processor, and
end-user.
The
global market for endoscopy devices is divided into rigid endoscopes, flexible
endoscopes, robot-assisted endoscopes, capsule endoscopes, and surgical
endoscopes.
Based
on the therapy, the global endoscopy device market is diversified into
endoscopic retrograde cholangiopancreatography, arthroscopy, colonoscopy,
gastroscopy, sigmoidoscopy, cystoscopy, laparoscopy, and ureteroscopy.
By
treatment and procedure, the global market is classified into lower
gastrointestinal conditions, abdominal, gynecologic and pelvic organ
conditions, lung and airway conditions, joint and orthopedic conditions, upper
gastrointestinal conditions, and urinary system conditions.
The
global endoscopy device market is also bifurcated based on application into
obstetrics/gynecology endoscopy, mediastinoscopy, gastrointestinal endoscopy,
otoscopy, bronchoscopy, arthroscopy, and urology endoscopy.
The
global endoscopy devices market is also split into accessory and processors.
Moreover,
on the basis of technology, the global endoscopy device market is segmented
into fiber and video.
The
end-users of the endoscopy devices are gastroenterologists, general and
pediatric surgeons, critical care, orthopedic surgeons, and
obstetricians-gynecologists.
Regional
Insights
By
region, The Americas is dominating the global endoscopy device market owing to
massive development within the healthcare sector, the existence of robust
healthcare infrastructure, and high healthcare spending in the region. The
Americas market is predicted to attain a valuation of USD 15,186.1 million over
2023.
Europe
is second largest market for endoscopy devices globally. Growing inclination on
the treatment and diagnosis of gastrointestinal diseases and cancer.
Moreover,
Asia Pacific region is poised to show swift growth trends over the forecast
period. High medical needs owing to the growing prevalence of chronic diseases
in the region lay ample growth prospects for the market. Increased healthcare
budget in developing economies also acts as a driver for the growth of the Asia
Pacific endoscopy devices market.
The
Middle East and Africa region are likely to witness considerable growth, which
is led by Gulf nations such as Kuwait and Qatar, who are heavily investing in
the development of the healthcare sector.
Major
Players
The
leading players that are responsible for the progress of the global endoscopy
devices market include Cognetix, OLYMPUS, Cantel Medical, FUJIFILM, Integrate
Endoscopy, Micro-Tech Endoscopy, PENTAX MEDICAL, Cogentix Medical, KARL STORZ
Gmbh & Co. KG, RICHARD WOLF, J&J services Inc., Interscope Inc.,
Stryker, and Shaili Endoscopy.
Recent
Updates
FUJIFILM
Medical Systems U.S.A., Inc. Endoscopy, a section of the Fujifilm Healthcare
portfolio, will reveal eight new endoscopes and exhibit its suite of endoscopic
imaging solutions at the American College of Gastroenterology's Annual Meeting
(ACG).
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