Published: Jun, 2018
The global endoscopy equipment market is highly competitive in nature, with a presence of a large number of players operating in the market worldwide, stated a new market intelligence study by Transparency Market Research. The leading players in the market are emphasizing on development of new product, which is estimated to accelerate the growth of the overall market in the next few years. The increasing investments in the medical devices segment is likely to generate promising growth opportunities for the market players in the next few years. Some of the leading players operating in the market are B.Braun Melsungen AG, Arthrex Inc., Karl Storz GmbH & Co., Fujifilm Holdings Corporation, Olympus Corporation, Stryker Corporation, Cook Medical Inc., Boston Scientific Corporation, Smith & Nephew Plc, and Medtronic plc. Furthermore, the rising level of competition is estimated to enhance the market growth in the near future.
According to the research study by Transparency Market Research, in 2017, the global market for endoscopy equipment was worth US$27.5 bn and is expected to reach a value of US$33.5 bn by the end of 2022. The market is predicted to register a healthy 4.0% CAGR between 2017 and 2022.
Increasing Investments in healthcare Sector to Enhance North America Market
The global endoscopy equipment market has been classified on the basis of geography into the Middle East and Africa, Europe, Asia Pacific, North America, and Latin America. Among these segments, North America is estimated to lead the global market throughout the forecast period. This region is projected to register a strong 4.20% CAGR between 2017 and 2022. The rising investment for the enhancement of the healthcare sector is one of the major factors, which is estimated to encourage the growth of the North America market in the next few years. In addition to this, the rising cases of several diseases and the rising rate of adoption of new technologies and equipment are further predicted to accelerate the growth of the market in the near future.
On the basis of application, the global endoscopy equipment market has been classified into otorhinolaryngology, gastroenterology, respiratory tract, gynecology orthopedics, urology, and pulmonology. Among these, the gastroenterology segment is projected to witness high growth throughout the forecast period. This region is likely to register a promising growth rate, thanks to the rising prevalence of gastric problems in the developed regions. In addition to this, the rising use of endoscopy equipment for the purpose of diagnosis of gastroenterological disorders is further predicted to enhance the growth of the segment in the next few years.
Focus on Development of New Product to Enhance Market Growth
The increasing application of endoscopy for diagnosis of several medical conditions is one of the key factors estimated to encourage the growth of the global endoscopy equipment market in the next few years. In addition to this, the growing focus on development of new product and innovations in the medical devices sector are some of the key factors that are estimated to accelerate the growth of the overall market in the next few years. The presence of ultra-modern healthcare facilities in several developed nations is likely to offer promising growth opportunities for the market players throughout the forecast period.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “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.”
- The development of the healthcare sector is one of the key factors that is expected to encourage the growth of the global endoscopy equipment market in the near future.
- Innovations and the rising research and development activities are projected to offer promising growth opportunities for market players in the coming years.
The global endoscopy equipment market has been segmented as below:
Global Endoscopy Equipment Market, by Product type
- Operative Devices
- Visualization Systems
Global Endoscopy Equipment Market, by Application
- Respiratory Tract
- Gynecology and Urology
Global Endoscopy Equipment Market, by Geography
- North America
- Asia Pacific except Japan
- Latin America
- Middle East and Africa
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