Global Endoscopy Devices Market Opportunities and Forecasts, 2014 – 2022
Endoscopy Devices Market by Product (Endoscopes, Visualization & Documentation Systems, Mechanical Endoscopy Equipment, Accessories, and Other Endoscopy Equipment), by Application (Bronchoscopy, Arthroscopy, Laparoscopy, Urology Endoscopy, Neuroendoscopy, Gastrointestinal Endoscopy, Gynecology Endoscopy, ENT Endoscopy, and Others)
INTRODUCTION An endoscope is a lighted, medical device used to execute diagnostic and therapeutic interventions inside the hollow cavities and visceral organs of the body such as the brain, esophagus, lungs, abdomen, gastrointestinal (GI) tract, and others.
Endoscopy is carried out to examine abdominal pain, ulcers, digestive tract bleeding, and abnormal growths in the colon and other abdominal & gastrointestinal conditions. The minimally invasiveness of this procedure with fewer post operation complications makes it one of the most preferred and sought-after procedures in diagnostics and surgery.
Rise in prevalence of diseases that require endoscopy procedures such as cancers and gastrointestinal diseases is one of the prime reasons that drives the growth of endoscopy devices market. preference for the minimally invasive nature of endoscopy devices propel the market growth.
Global Endoscopy Devices Market
Current and Future Market Scenario •
In the year 2015, Endoscopes was the leading product type, and is projected to grow at a CAGR of 6.0%.
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In 2015, North America is projected to continue its lead, accounting for more than one-third share of the global endoscopy devices market.
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The Endoscopy Devices Market has witnessed moderate growth during the past few years and is expected to grow at a CAGR of 5.7% during the forecast period.
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Endoscopy Devices Market is expected to garner $40,854 million by 2022, Globally.
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The laparoscopic interventions is anticipated to generate the highest revenue of $9,350 million Global Endoscopy Devices Market
Factors Contributing to Market Growth •
Cancers and Gastrointestinal diseases is one of the prime reasons that drives the growth of endoscopy devices market.
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In addition, presence of highly sophisticated healthcare infrastructure, rise in measures for preventive healthcare, and favorable reimbursement scenario propelled the market growth.
Other factors that contribute to market growth are: •
Technological advancements
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Rise in prevalence rate of diseases that require endoscopy devices
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Growth in patient preference for minimally invasive surgeries
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Favorable FDA approvals and reimbursement policies in developed economies
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Shorter recovery time and minimal post-operative complications Global Endoscopy Devices Market
Market Segments By Product • • • • •
Endoscopes Visualization & documentation systems Mechanical endoscopy equipment Accessories electronic endoscopy equipment
By Application • Bronchoscopy • Arthroscopy • Laparoscopy • Urology endoscopy • Neuroendoscopy • Gastrointestinal endoscopy • Obstetrics/gynecology endoscopy • ENT endoscopy
By End user • Hospitals • Clinics
Global Endoscopy Devices Market
Top Impacting Factors of Endoscopy Devices Market
Global Endoscopy Devices Market
Leading Players • Product development and expansion were the key strategies followed by the leading companies to strengthen their market positions. • The leading players in the Global Endoscopy Devices Market are highly focused to expand their business operations in the fast-growing emerging countries with new product launches as the preferred strategy. • Olympus Corporation, HOYA Corporation, Fujifilm Holdings Corporation, Boston Scientific Corporation, CONMED Corporation, Stryker Corporation, Smith & Nephew Plc, Medtronic Plc, KARL STORZ GmbH & Co. KG, and Johnson & Johnson are key players in this industry.
Global Endoscopy Devices Market
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Global Endoscopy Devices Market