The Asia-Pacific Endoscopy Devices Market was worth $4.33 billion in 2016 and estimated to be growing at a CAGR of 7.32%, to reach $6.16 billion by 2021. Endoscopy has altered the viewpoint of recognizing diseases and the way in which surgeries were performed previously.
It consists of cost-effective methods which are succeeding in achieving fewer complications post-surgery and negligible scars in the body. Devices such as endoscopes, visualization systems, and operative devices give direct insight check-up of the organs, unlike other medical imaging procedures.
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The growth of the Asia-Pacific Endoscopy Devices Market is mainly driven by factors such as growing number of hospitals, growing patient predilection for minimally invasive operations, technological advancements, growing geriatric population. However, issues such as lack of skilled professionals and infections acquired from unsterilized endoscopes are restraining the growth of the market in this region.
The Asia-Pacific Endoscopy Devices market is segmented based on product and application. The market for Endoscopy Devices, on the basis of product, is segmented into Endoscopes, Visualization Systems, other endoscopy Equipment, and Accessories. Endoscopes are further segmented into flexible, rigid, and capsule endoscopes. On the basis of Application, the asia-pacific Endoscopy Devices market is segmented into Laparoscopy, Bronchoscopy, GI Endoscopy. The endoscopes segment accounts for the largest share of the market in 2015. This is attributed to the invention of technologically innovative endoscopes by manufacturers and increased public awareness.
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The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. In the coming years, the Endoscopy Devices market is projected to witness the highest growth rate in the Asia-Pacific region, with emphasis on India, China, and Japan. The high growth in India and China can be ascribed to the administrative investments in launching new endoscopy units in India and government and venture capital investments in China. Indonesia, Vietnam, and Malaysia, are some of the other significant players in this market.
The major companies dominating the market in this region are Ethicon, Stryker Corporation, Karl Storz GmbH, Boston Scientific Inc., Olympus Corporation, Covidien Plc, Smith and Nephew Inc., Fujifilm Holding Corporation.
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