➢ According to The Insight Partners market research study titled ‘Endoscopy Devices Market - Global Analysis and Forecasts By Product, Application and End User. The global endoscopy devices market is expected to reach US$ 45,612.3 Mn in 2025 from US$ 26,333.3 Mn in 2017. The market is estimated to grow with a CAGR of 7.5% from 2018-2025. The report highlights the trends prevalent in the global endoscopy devices market and the factors driving the market along with those that act as deterrents to its growth.
➢ Global endoscopy devices market, based on the product class is segmented into endoscopes, visualization systems, other endoscopy equipment, and accessories. The endoscopes segment has been further divided as rigid endoscopes, flexible endoscopes as well as capsule endoscope. In 2017, the endoscopes segment held the largest share in the market, by product. Moreover, the segment is also anticipated to grow at a significant rate during the forecast period.
➢ The market for endoscopy devices is expected to grow in the coming years, owing to the technological advancements made by the players operating in the market. These technological advancements have made the procedure of endoscopy more easy as well as the results obtained are more accurate.
➢ May 2018: Olympus Corporation launched ENF-VT3, the world’s first rhino-laryngo videoscope to incorporate 4-direction angulation capability. This helped company offer a strong product portfolio in the market.
➢ January 2016: Stryker endoscopy division acquired Ivy Sports Medicine, LLC, which offers a comprehensive minimally invasive meniscal repair platform.
➢ August 2016: Medtronic’s minimally invasive therapies group acquired Smith & Nephew’s gynecology business to expand its surgical offerings.
➢ August 2017:
Ethicon launched ProxiSure suturing devices for bariatric, general, colorectal, and gynecology procedures.
➢ Based on product, the global endoscopy devices market is split into endoscopes, visualization systems, other endoscopy equipment, and accessories. In 2017, the endoscopes segment dominated the market with a largest revenue share.
➢ Also, it is projected to grow rapidly during the forecast period due to large number of applications being served.
Endoscope serves minimally invasive surgical procedures with insertion in body openings. It is also used in small surgical procedures due to its fine and flexible design.
➢ It saves time and expenses in standard surgical procedures. The demand for the segment is expected to soar in coming years due to increasing number of disorders and various launches and product enhancements in manufacturing.
➢ The visualization system was the second-largest occupant of the global endoscopy devices market in 2017. These systems help obtain enhanced quality images and videos. Various surgical procedures can be observed that simplify easy diagnosis and treatment.
➢ Several instruments such as wireless displays and monitors, light sources, video processors, endoscopic cameras, video recorders, video converters, carts, transmitters & receivers, camera heads, and others constitute the endoscopy through visualization system.
By Application
➢ According to the application, the global endoscopy devices market is split into gastrointestinal endoscopy, laparoscopy, arthroscopy, otoscopy, urology endoscopy, bronchoscopy, laryngoscopy, and others.
➢ The laparoscopy segment, in 2017, occupied the largest market share. Laparoscopy examines the organs inside the abdomen, being minimally invasive in nature as it works with small incisions. The procedure generally diagnoses pelvic or abdominal pain.
➢ The gastrointestinal endoscopy segment stood as the second-largest market occupant in 2017. The procedure checks internal lining of the upper gastrointestinal (GI) tract. It detects symptoms and conditions affecting esophagus, stomach, and upper intestine or duodenum.
