Endoscopy Equipment Market
Endoscopy Equipment Market (Product Type - Endoscopes, Operative Devices, Visualization Systems; Application - Gastroenterology, Respiratory Tract, Orthopedics, Gynecology and Urology, Pulmonology, Otorhinolaryngology; End Use - Hospitals, Diagnostic Centers, Specialized Clinics) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022
Press Release :
Global Endoscopy Equipment Market: Snapshot
Endoscopy is conducted to examine ulcers, abdominal pain, digestive tract bleeding, and abnormal growths in the colon and other abdominal & gastrointestinal conditions. It supports the minimally invasiveness of this procedures with less amount of post operation complications in the surgical procedures in post-surgery treatment.
The high demand for the flexible endoscopes is accounting for the dominating share in the global endoscopy devices market, and is expected to continue its dominance over the forecast period. This growth is attributable to the diverse application of these endoscopes to diagnose and treat different diseases and increased adoption of flexible endoscopes in healthcare settings.
Surge in incidences of cancer and gastrointestinal diseases among other chronic diseases globally, owing to the growing in geriatric population, changes in demographics & lifestyle, and obesity are the major factors fuelling growth of the endoscopy devices market. Furthermore, technological advancement in visualization, surgical endoscopic treatments, and diagnosis; coupled with increase in awareness of endoscopic technologies and its advantages among the patients and medical professionals stimulate the demand for endoscopic devices. Thus, these factors are boosting the growth of the market.
According to the TMR, the global endoscopy equipment market was valued at US$27.5 bn in 2017 and is expected to decline with 4% CAGR over the forecast period from 2017 to 2025 to reach a value of US$33.5 bn by the end of forecast period.
Growing endoscopes segment to Boost Market Growth
The global endoscopy equipment market is segmented by product type into endoscopes, visualization systems, operative devices, and others. Of these, endoscopes are likely to remain dominant over the forecast period to the global endoscopy equipment market owing to their predominant use in endoscopy applications. The segment is likely to rise from US$14.6 bn to US$17.8 bn over the forecast period, by expanding a robust CAGR of 4.1%.
Based on the application, the global endoscopy equipment market is segmented into gastroenterology, respiratory tract, otorhinolaryngology, orthopedics, pulmonology, gynecology and urology, and others. Of these, gastroenterology segment is expected to be dominant contributor to the global endoscopy equipment market in some upcoming years due to growing prevalence of gastric problems in developed economies and widespread application of endoscopy equipment for diagnosis and treatment of gastroenterological disorders.
High Demand from North America to Remain Dominant
On the basis of region, the global endoscopy equipment market is segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Of these, North America is dominating the global endoscopy equipment market and continue its dominance over the forecast period, with rising from US$9.9 bn to US$12.3 bn over the forecast period of 2017-2022. The market is likely to expand with strong CAGR of 4.2% over the aforementioned forecast period.
Some of the key players operating in the endoscopy equipment market are Arthrex Inc., Stryker Corporation, B. Braun Melsungen AG, Boston Scientific Corporation, and Olympus Corporation. The endoscopy equipment market is extremely competitive owing to numerous players operating in the market. In order to gain a competitive edge, these manufacturers are increasingly launching advanced products and research and development activities.
Endoscopy Equipment Market to Ride on the Back of Increased Investment in Endoscopic Procedures
Rising demand for endoscopy worldwide is expected to pave way for rapid growth of the global endoscopy equipment market in the years to come. In addition, augmented investment made by hospitals in endoscopic facilities, technological progress, and increasing number of hospitals are anticipated to support developments in the global endoscopy equipment market in the forthcoming years. On the other hand, unfavorable healthcare reforms in many countries along with high cost of endoscopic equipment and procedures are expected impede development of the global endoscopy equipment market in the forthcoming years. Further limited reimbursement in many of the developing countries is likely to act as another obstacle in the growth of the market.
There has been expansion of the geriatric population and growing preference for minimally invasive endoscopic processes, which are likely to pave way for the rapid development of the global endoscopy equipment market in the near future.
Higher Demand for Minimally Invasive Surgeries to Accentuate Demand for Endoscopic Procedures
High prevalence of conditions like respiratory, urological, gastrointestinal, and gynecological disorders raise the demand for endoscopic procedures for correct treatment and diagnosis. Increased adoption of visualization system and use of endoscopes in various healthcare settings together with immense technological progress is likely to support development of the global endoscopy equipment market in the years to come.
There has been rising demand for minimally invasive procedures have resulted in the utilization of different endoscopes in several surgical processes, such as cystoscopy, bronchoscopy, laparoscopy, and arthroscopy. In comparisons with open surgeries, minimally invasive surgeries lead to lesser trauma to patients and faster recovery. In addition, minimally invasive surgeries are come with economic feasibility, higher satisfaction of patients, fewer complications after surgery, and comparatively shorter stay at hospitals. As such, these minimally invasive surgeries are preferred over the invasive ones. Riding on the back of these benefits, the global endoscopy equipment market is anticipated to observe growth in the years to come.
Global Endoscopy Equipment Market: Overview
The global endoscopy equipment market report provides a clear look at the various components of the market to provide a detailed overview of the global market. The report provides information about all leading segments of the global endoscopy equipment market in order to provide readers with a clear picture of the market’s granular composition. The historical trajectory exhibited by the global endoscopy equipment market between 2012 and 2017 is assessed in the report with the help of detailed information banks that provide readers with an accurate insight into what has powered the endoscopy equipment market’s growth and is likely to remain a key force for the market in the coming years. The report also studies the competitive dynamics and geographical distribution of the global endoscopy equipment market in order to elucidate the major dynamics affecting the global market and the regional hierarchy of the market.
According to Transparency Market Research, the global endoscopy equipment market is likely to be valued at more than US$27.5 bn by the end of 2017 and further rise to US$33.5 bn by 2022. The market is likely to exhibit a solid 4% CAGR between 2017 and 2022.
?Global Endoscopy Equipment Market: Dynamics
The major drivers and restraints affecting the trajectory of the global endoscopy equipment market are studied in the report to understand the way the market is likely to shape up in the coming years. Key drivers aiding the growth of the endoscopy equipment market are assessed to provide a quantitative representation of their likely effect on the global market in the coming years. A brief description of the likely effects of each driver is also provided in the report to better enable readers to understand the dynamics of the global endoscopy equipment market in the coming years. The major restraints hampering the growth prospects of the global endoscopy equipment market are also studied in the report to understand the factors likely to be detrimental for the operations of players looking to claim a significant share in the market in the coming years.
Global Endoscopy Equipment Market: Segmentation
The leading segments of the global endoscopy equipment market are studied in the report to provide readers with a clear picture of which segments are likely to offer the best ROI prospects in the coming years. The growth figures for key segments of the global endoscopy equipment market are assessed using reliable industry-standard analytical models, lending assurance to the projections derived on the basis of this information.
The report segments the global endoscopy equipment market by product type, application, end use, and geography in the report to provide readers with a comprehensive view of the market. By product type, the global endoscopy equipment market is segmented into endoscopes, operative devices, visualization systems, and others. Key end users in the global endoscopy equipment market include hospitals, diagnostic centers, specialized clinics, and others. Leading applications of endoscopy equipment include gastroenterology, respiratory tract monitoring, otorhinolaryngology, gynecology, urology, orthopedics, pulmonology, and others. In order to understand the geographical distribution of the global endoscopy equipment market, the report studies the market’s performance in North America, Latin America, Europe, Asia Pacific except Japan, Japan, and the Middle East and Africa.
Global Endoscopy Equipment Market: Competitive Dynamics
The report sheds light on the competitive dynamics of the global endoscopy equipment market in a comprehensive manner by profiling key players operating in the market. Leading endoscopy equipment producers analyzed in the report include Arthrex Inc., Stryker Corporation, B. Braun Melsungen AG, Boston Scientific Corporation, Olympus Corporation, Cook Medical Inc., Karl Storz GmbH & Co. KG, Smith & Nephew Plc, Fujifilm Holdings Corporation, and Medtronic Plc.