Endoscopy devices are mainly utilized for overall monitoring of different systems present in the human body such as urological, cardiovascular, gastrointestinal, neurological, and many others. From an overall perspective, these devices are majorly utilized in diagnostic and surgical procedures, mainly to gain visual access to the body.
As per expert analysts, the global endoscopy devices market is projected to gather revenue worth US$36,897.0 mn in 2019, compared to the earlier revenue figure clocked at US$24,904.4 mn in 2012. This growth is expected to occur at a healthy CAGR of 6.8% during the forecast period from 2013 to 2019.
Device Type Depicts Presence of Several Leading Segments Owing to High Availability
The global endoscopy devices market is segregated into various segments mainly on the basis of device type, application, and region. Under device type, there further are several sub-categories such as endoscope, operative devices, visualization systems, and high definition (HD) visualization systems. Under endoscope type, rigid endoscope, robot assisted endoscope, flexible endoscope, and capsule endoscope, are key segments. From the perspective of operative devices, the global endoscopy devices market is divided into energy systems, suction/irrigation systems, access devices, operative hand instruments, and others. Under visualization systems, ultrasound devices and standard definition (SD) visualization systems comprise the major segments. Whereas, under the last category, two dimensional (2d) systems and three dimensional (3d) systems make up the chief segments in the global endoscopy devices market.
Gastrointestinal surgeries, urology/gynecology surgeries, ENT surgeries, cardiovascular surgeries, neuro/spinal surgeries, laparoscopy surgeries, and arthroscopy surgeries, are prime segments under the applications criteria.
Under device type, extensive studies by market experts pegs the capsule endoscope, rigid endoscope, robot-assisted endoscope, and flexible endoscope as leading segments, under their respective sub-categories. This is mainly due to several advantages associated with using the devices such as less complex operability, high efficiency, high availability in the market, and many others.
Large-Scale Adoption of Endoscopy Devices Makes North America Dominate the Market
Geography-wise, the global endoscopy devices market is spread across North America, Asia Pacific, Europe, and Rest of the World. Of these, North America holds a leading position in the market, mainly due to the presence of highly advanced medical and healthcare infrastructure. Moreover, a favorable reimbursement scenario exists in this region, which further supports the relevant growth happening in the global endoscopy devices market. With a rise in the use of technically advanced instruments for detection and treatment of various diseases, the market in North America is expected to continue its leading stance over the other regions. Furthermore, a high rate of acceptance regarding deployment of innovative medical approaches is also anticipated to make the endoscopy devices market grow splendidly in the North America.
However, apart from this region, other geographical extents such as Asia Pacific and Latin America are also projected to depict excellent growth in the global endoscopy devices market. From these two regions, Asia Pacific is expected to register a fantastic growth mainly due to increasing awareness among those affected by diseases that require carrying out endoscopy, as well as widespread advancements in medical imaging devices. With great untapped opportunities resting in this region, Asia Pacific could grow at a faster CAGR than the others, in the global endoscopy devices market.
Ethicon Endo-Surgery, Covidien, Stryker Corp., Olympus, Smith & Nephew Plc, Richard Wolf GmbH, KARL STORZ GmbH & Co. KG, Intuitive Surgical Inc., HOYA Corp., FUJIFILM Holdings Corp., Cook Medical Inc., Boston Scientific Corp., Braun Melsungen AG, and Arthrex Inc., are key players operating in the global endoscopy devices market.
Global Endoscopy Devices Market: Overview
Of late, endoscopy devices have been reporting a tremendous rise in their demand, thanks to the rising preference for minimally invasive surgeries and cost-efficient endoscopic procedures as pre- or post-surgical operations. The growing awareness regarding the benefits of non-invasive procedures, such as reduced possibility of blood loss and infections and a shorter hospital stay due to a faster recovery, is projected to reflect positively on the demand for endoscopy devices in the years to come.
According to researchers, the global market for endoscopy devices, which stood at US$24.9 bn in 2012, is likely to increase to US$36.9 bn by 2019, rising at a CAGR of 6.80% during the period from 2013 to 2019.
Global Endoscopy Devices Market: Trends and Opportunities
Capsule endoscope, rigid endoscope, robot-assisted endoscope, and flexible endoscope have emerged as the key products of the global market for endoscopic devices. The market is heavily influenced by the growing demand for robot-assisted endoscopes and capsule endoscopes in the recent times.
Apart from this, the increase in investment inflow and the rising trend of mergers and acquisitions is also contributing substantially to the growth of this market. In addition, the easing up of U.S. FDA policies regarding approval process and the upsurge in the prevalence of various chronic disease are anticipated to boost the demand for endoscopy devices across the world in the near future. However, the high cost associated with these devices and the shortage of skilled professionals may create an obstruction in the market’s growth trajectory over the forthcoming years.
Global Endoscopy Devices Market: Geographical Analysis
On the geographical front, the worldwide market for endoscopy devices has been classified into North America, Asia Pacific, Europe, and the Rest of the World. North America, among these, has been leading the global market on account of an advanced medical and healthcare infrastructure, together with well-equipped and cost-efficient hospitals and medical facilities. The presence of a favorable reimbursement scenario is also supporting the growth of this regional market significantly.
Analysts predict the escalating usage of technically advanced instruments in the detection and treatment of various diseases is likely to impact on the demand for endoscopy devices greatly in North America, ensuring the region’s lead in the near future. The growing acceptance of innovative medical approaches is also expected to propel the North America market for endoscopic devices in the years to come.
Other regional markets are also anticipated to register a healthy rise in their shares over the next few years. Asia Pacific, specifically, is witnessing a tremendous surge in the demand for these devices due to the presence of abundant untapped opportunities, increasing awareness among consumers, and the technological advancement in medical imaging devices.
Companies mentioned in the research report
The global market for endoscopy devices demonstrates a fragmented structure due to the presence of a large number of players. Ethicon Endo-Surgery, Olympus, and Covidien are the leading players operating in this market. Other prominent market participants are Stryker Corp., Smith & Nephew Plc, Richard Wolf GmbH, KARL STORZ GmbH & Co. KG, Intuitive Surgical Inc., HOYA Corp., FUJIFILM Holdings Corp., Cook Medical Inc., Boston Scientific Corp., Braun Melsungen AG, and Arthrex Inc.
Key Segments of Global Endoscopy Device Market
By Device Type
- Rigid Endoscope
- Flexible Endoscope
- Capsule Endoscope
- Robot Assisted Endoscope
- Operative Devices
- Energy Systems
- Suction/Irrigation Systems
- Access Devices
- Operative Hand Instruments
- Others (Insufflation Devices, Wound Protectors, Snares)
- Visualization Systems
- Ultrasound Devices
- Standard Definition (SD) Visualization Systems
- Two Dimensional (2D) Systems
- Three Dimensional (3D) Systems
- High Definition (HD) Visualization Systems
- Two Dimensional (2D) Systems
- Three Dimensional (3D) Systems
- Gastrointestinal Surgeries
- Urology/Gynecology Surgeries
- ENT Surgeries
- Cardiovascular Surgeries
- Neuro/Spinal Surgeries
- Laparoscopy Surgeries
- Arthroscopy Surgeries
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments