Endoscopy Devices Market Key Players, Trends, Growth Opportunities and Industry Forecast till 2028
“Growing prevalence of cancer is considered as the key factors driving the growth of endoscopy devices market over the forecast period.�
The global endoscopy devices market is expected to display higher growth rate over the forecast period. Rapid surge in the market is credited to the rising geriatric population and growing prevalence of diseases that requires endoscopy for diagnosis & treatment. Rise in the number of minimally invasive surgeries (MIS) performed each years is expected to drive the growth of the market over the forecast period. Globally, endoscopy devices market is predicted to generate massive revenue over the upcoming years, providing numerous opportunities for industry participants to invest in research and development of endoscopy devices. Use of endoscopy devices such as laparoscopy, cystoscopy, and bronchoscopy in various medical treatments involving minimally invasive surgeries (MIS) is bolstering market demand in the past few years. Growing preference towards minimally invasive surgeries (MIS) is credited to fewer traumas to patients and quicker recovery. In addition, minimally invasive surgeries (MIS) are increasingly preferred over open invasive surgeries due to their cost-effectiveness. Use of endoscopy devices in minimally invasive surgeries (MIS) offer advantages such as higher patient satisfaction, comparatively lower hospital stay, financial viability, and reduction in postsurgery complications. Growing prevalence of cancer is considered as the key factors driving the growth of endoscopy devices market over the forecast period. Different endoscopy procedures including laryngoscopy, upper endoscopy, and colonoscopy are considered vital for diagnosis of cancer. Moreover, prevalence of obesity among millennial population and launch of endoscopic bariatric surgeries are projected to escalate industry expansion in the near future. Consumer shift towards preventive healthcare is fueling the demand for bariatric surgeries. Endoscopic approach towards bariatric surgeries is deemed as a secure and cost efficient solution, and ideal alternative to traditional bariatric surgeries.