The Europe Endoscopy Devices Market was worth $7.26 billion in 2016 and estimated to be growing at a CAGR of 6.65%, to reach $10.01 billion by 2021. Endoscopy consists of methods which are cost-effective ensuing in fewer complications post-surgery and negligible scars in the body.
These surgeries also decrease the length of stay of the patient at the hospital. Devices such as endoscopes, visualization systems, and operative devices give direct insight inspection of the organs, unlike other medical imaging tools.
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Growing patient predilection for minimally invasive operations, is one of the major driver for the Endoscopy Devices market in this region. Another aspect is that European countries face comparable economic and demographic burdens and share an interest in scrutinizing their impact on health outcomes nationally and across Europe. However, the issue of strict regulation of endoscopic devices is one of the major reason hindering the growth of the market.
The Europe 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 europe 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 Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. European is the second largest market with a global share of 27%. Germany is the largest market share holder for the Endoscopy Devices market in this region, followed by the UK and France. Other significant markets in the region are Italy, Spain, France, and Greece.
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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