The global endoscopy devices market is expected to reach USD 42 billion by the end of 2020, growing at a CAGR of around 7% from 2015 to 2021.
The adoption of endoscopy is on the rise, led by the benefits offered by minimally invasive types. Capsule endoscopy is found to be the fastest growing among the endoscope product types. The high prevalence of gastrointestinal disorders like inflammatory bowel disease, Crohndisease, ulcers, and other diseases in the colon are increasing the use of endoscopy devices.
Global Endoscopy Devices Market-Market Dynamics
The report details several factors driving and restraining the market, some of which are listed below.
Rising geriatric population
High prevalence of diseases that require endoscopy for diagnosis and treatment procedures
Favorable FDA approvals and reimbursement policies
Strong inorganic competition between major players in order to acquire the technology
Increasing awareness for minimally invasive surgeries
The lack of skilled technicians and infections acquired from unsterilized endoscopes are turning out to be restraints to this market.
The global endoscopy market has been segmented based on products and application. The segmentation on the product has been further subdivided into endoscopes and visualization equipment. The sub-segment on endoscopes includes rigid endoscopes, flexible endoscopes, capsule endoscopes, surgical endoscopes and robot-assisted endoscopes. The sub-segment on visualization equipment includes endoscopic cameras, video processors & converters, endoscopic light sources, transmitters & receivers, displays & monitors and other visualization devices.
The segment based on the application has been segmented into laparoscopes, GI endoscopes, bronchoscopes, arthroscopes, urology endoscopes, cystoscopes, gynecology endoscopes, neuroendoscopes, sigmoidoscopes, laryngoscopes, duodenoscopes, nssopharyngoscopes, rhinoscopes, and others. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
The capsule endoscopes market is expected to have a high demand due to the increasing preference amongst physicians and patients. The robot-assisted endoscopic devices see an increase in demand in the near future. Covidien has the largest market for capsule endoscopy globally.
The advancements in technology have brought advanced 3D imaging into the market, which gives better imaging, lessens error, improved depth perception, etc. North America has the largest market, followed by Europe and Asia-Pacific. Currently, Asia-Pacific has a very high growth rate. Brazil, China, India, and Japan are coming up as emerging markets for endoscopic devices.
Some of the key players in the market are:
Boston Scientific Corporation
Fujifilm Holding Corporation
Key Deliverables of the Study
Market definition along with identification of key drivers and restraints for the market.
Market analysis for the endoscopy devices market, with region-specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
Identification and analysis of the macro and micro factors that affect the endoscopy devices market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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