Endoscopy devices are utilized for both therapeutic and diagnostic applications, allowing for a close view of interior organs and body structures. Endoscopic devices, unlike traditional imaging techniques such as X-rays, have a tube-like tool called an endoscope that is put directly within the organ and provides an extensive information of the organs under examination.
The global endoscopy devices market was worth US$ 14,384.0 Mn in 2020 and is expected to grow to US$ 27,622.6 Mn by 2027.
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The rising incidence of gastrointestinal illnesses is expected to drive growth in the global endoscopy devices market during the forecast period. According to research ‘Worldwide incidence and prevalence of inflammatory bowel disease in the 21st century: a systematic review of population-based studies’, published in the journal Lancet in 2018, the incidence of Crohn’s disease in Canada had been 319 for every 100,000 whereas it was 22 for every 100,000 in Germany.
Furthermore, the growing elderly population is expected to boost the global endoscopy market growth over the forecast period. According to the U.S. Census Bureau, by 2034 the elderly population in the U. S. is expected to increase to 77 million.
The negative effect of the US medical device tax and the stringent U.S. Food and Drug Administration approval procedure is expected to hamper the global endoscopy devices market growth over the forecast period. In 2013, the US government plans to impose a 2.3 % excise tax on medical device sales. The impact on endoscopic device pricing will be apparent as companies boost prices and pass them on to customers as a method to deal with the additional tax in the U.S.
Furthermore, an absence of adequate regulations for the right selection and use of automated endoscope reprocessors is expected to hinder the global endoscopy devices market growth over the forecast period. Endoscope cleaning done incorrectly might result in a high level of contamination. Manufacturers have been accused, claiming that the device’s design prevents legitimate sanitization, placing patients at risk of serious medical problems.
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For players in the global endoscopy devices market, research and development of new endoscopy technologies are expected to provide attractive development prospects. For instance, Xenocor, Inc. obtained a US patent in June 2020 for the Xenoscope Single-use Laparoscopic System, which offers important protection for materials used for the disposable scope that decrease fogging and increase the clarity of the system’s output images.
Furthermore, as hyperspectral imaging is becoming more widely adopted, players in the global endoscopy devices market are expected to profit from significant growth prospects. In vivo cancer detection has been performed using hyperspectral imaging in combination with rigid endoscopy.
Key market players are focusing on the approval and introduction of new products in order to grow their product range. For instance, AnX Robotica Corp. obtained the De-Novo classification from the U.S. Food and Drug Administration in June 2020 for their NaviCam Magnetically Controlled Capsule Endoscopy System.
The global endoscopy devices market is experiencing the release of cleaning products for endoscopy devices. For instance, Toray Industries Inc. developed TORAYSEE for ES Micro Fiber Wiping Cloths in April 2020, which are designed to clean endoscope lenses during laparoscopic surgery.
Some of the key players contributing to the global endoscopy devices market are Cook Medical Incorporated, Conmed Corp, 3NT Medical, Fujifilm Holding Corp, Aesculap Inc., Richard Wolf GmbH, Boston Scientific Corp, Olympus Corp, Arthrex Inc, KARL STORZ Endoscopy-America, Inc., Accellent Inc., C.R. BARD INC, and AnX Robotica Corp.
Key market players market are focusing on new product approvals and releases to grow their product range. For instance, Olympus Corporation developed EVIS X1, an endoscopic device that improves outcomes from the colon, stomach, esophageal disorders, and bronchial infections, in April 2020. Furthermore, KARL STORZ Endoscopic-America, Inc. announced the TELE PACK + small endoscopy system in March 2020.
Reasons to Purchase this Report
• Current and future of global Endoscopy Device market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Endoscopy Device Market Size Analysis
11.6 COVID-19 Outbreak: Endoscopy Device Industry Impact
Chapter 2 Global Endoscopy Device Competition by Types, Applications, and Top Regions and Countries
2.1 Global Endoscopy Device (Volume and Value) by Type
2.3 Global Endoscopy Device (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Endoscopy Device Sales, Consumption, Export, Import by Regions
Chapter 5 North America Endoscopy Device Market Analysis
Chapter 6 East Asia Endoscopy Device Market Analysis
Chapter 7 Europe Endoscopy Device Market Analysis
Chapter 8 South Asia Endoscopy Device Market Analysis
Chapter 9 Southeast Asia Endoscopy Device Market Analysis
Chapter 10 Middle East Endoscopy Device Market Analysis
Chapter 11 Africa Endoscopy Device Market Analysis
Chapter 12 Oceania Endoscopy Device Market Analysis
Chapter 13 South America Endoscopy Device Market Analysis
Chapter 14 Company Profiles and Key Figures in Endoscopy Device Business
Chapter 15 Global Endoscopy Device Market Forecast (2021-2028)
Chapter 16 Conclusions
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