Endoscopy Device Market Insights
Market Research Future projected that the global endoscopy devices market size is set to flourish at the highest growth rate of 6.3% during the forecast period of 2017-2023.
Consumers opting minimally invasive surgeries, technological advancements, growing use of endoscopy for diagnosis and treatment are some of the key drivers affecting the growth of the global market. Improved healthcare experience has helped healthcare facilities to engage consumers with a keen focus on convenience factors. Consumers' preference to trustworthy healthcare devices has led to an increase in demand for endoscopy devices.
The endoscopy is used for both treating unstable patients and operations, particularly in the case of complex diseases such as cancer and elderly patients. Reduced risks of complication, post-operative pain, reduced hospitalization, and lighter anesthesia are some of the factors that are driving the demand for endoscopy devices. Moreover, growing awareness about minimally invasive procedures and the growing prevalence of chronic diseases around the globe is likely to drive the demand for endoscopy devices.
On the other hand, lack of trained technicians and risk of infection caused by endoscopes are some of the key factors impacting the growth of the market.
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Endoscopy Device Market Segmentation
The global endoscopy device market has been segmented based on type, therapy, treatment & procedure, application, accessory & processor, and end-user.
The global market for endoscopy devices is divided into rigid endoscopes, flexible endoscopes, robot-assisted endoscopes, capsule endoscopes, and surgical endoscopes.
Based on the therapy, the global endoscopy device market is diversified into endoscopic retrograde cholangiopancreatography, arthroscopy, colonoscopy, gastroscopy, sigmoidoscopy, cystoscopy, laparoscopy, and ureteroscopy.
By treatment and procedure, the global market is classified into lower gastrointestinal conditions, abdominal, gynecologic and pelvic organ conditions, lung and airway conditions, joint and orthopedic conditions, upper gastrointestinal conditions, and urinary system conditions.
The global endoscopy device market is also bifurcated based on application into obstetrics/gynecology endoscopy, mediastinoscopy, gastrointestinal endoscopy, otoscopy, bronchoscopy, arthroscopy, and urology endoscopy.
The global endoscopy devices market is also split into accessory and processors.
Moreover, on the basis of technology, the global endoscopy device market is segmented into fiber and video.
The end-users of the endoscopy devices are gastroenterologists, general and pediatric surgeons, critical care, orthopedic surgeons, and obstetricians-gynecologists.
Endoscopy Device Market Regional Insights
By region, The Americas is dominating the global endoscopy device market owing to massive development within the healthcare sector, the existence of robust healthcare infrastructure, and high healthcare spending in the region. The Americas market is predicted to attain a valuation of USD 15,186.1 million over 2023.
Europe is second largest market for endoscopy devices globally. Growing inclination on the treatment and diagnosis of gastrointestinal diseases and cancer.
Moreover, Asia Pacific region is poised to show swift growth trends over the forecast period. High medical needs owing to the growing prevalence of chronic diseases in the region lay ample growth prospects for the market. Increased healthcare budget in developing economies also acts as a driver for the growth of the Asia Pacific endoscopy devices market.
The Middle East and Africa region are likely to witness considerable growth, which is led by Gulf nations such as Kuwait and Qatar, who are heavily investing in the development of the healthcare sector.
Endoscopy Device Market Major Players
The leading players that are responsible for the progress of the global endoscopy devices market include Cognetix, OLYMPUS, Cantel Medical, FUJIFILM, Integrate Endoscopy, Micro-Tech Endoscopy, PENTAX MEDICAL, Cogentix Medical, KARL STORZ Gmbh & Co. KG, RICHARD WOLF, J&J services Inc., Interscope Inc., Stryker, and Shaili Endoscopy.
Endoscopy Device Market Recent Updates
FUJIFILM Medical Systems U.S.A., Inc. Endoscopy, a section of the Fujifilm Healthcare portfolio, will reveal eight new endoscopes and exhibit its suite of endoscopic imaging solutions at the American College of Gastroenterology's Annual Meeting (ACG).
Published by Tanuja Kulkarni