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(Medical-NewsWire.com, September 17, 2018 ) Global Industry Market Dynamics and Trend Analysis
The global endoscopy devices market is anticipated to be about 44 billion by the end of 2025. An endoscope is a medical device that is lit and used to perform therapeutic and diagnostic interventions within the visceral organs and hollow cavities of the human body, like lungs, esophagus, gastrointestinal (GI) tract, abdomen, and many others. This procedure is performed to inspect ulcers, abdominal pain, abnormal growths and any kind of bleeding in the digestive tract and other abdominal & gastrointestinal conditions. Some of the major factors which are driving the growth of endoscopy market are escalating aged population across the world, rising prevalence of chronic diseases such as gastrointestinal diseases and cancer and intense need for minimally invasive procedures and technological improvements. The American Cancer Society states that the total number of cancer cases is predicted to go more than 21 million by 2030. Their case study says that in 2017, in the U.S. alone there are nearly 1.7 million new cancer cases detected. Besides, the growing number of cancer cases, alterations in lifestyle and demographics and obesity are also said to boost the growth of this market on a global level. Furthermore, technological enhancements in diagnosis, visualization, and surgical endoscopic treatment will assist the market to lucratively grow. Rise in awareness of such technologies amongst the population, along with its benefits towards medical professionals and patients trigger the need for more endoscopic devices in the future. But, there exists various market restrains which impact the growth to a great extent.
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Product Outlook and Trend Analysis
The endoscopy devices market is briefly segmented into four major categories: Rigid endoscope, Flexible endoscope, Capsule endoscope, and Robot-assisted endoscope. Of which the capsule endoscope segment is emerging and has opened up novel opportunities in the field of endoscopy. A capsule endoscope consists of pioneering small, capsule-sized device. These devices are safe to be ingested by a patient and travel through the intestinal tract. There is a tiny camera inside the capsule which captures high-quality images of the small intestine with extreme clarity. Followed by the capsule endoscopy, flexible endoscopy devices segment is also garnering positive market share due to the minimally invasive procedures leading to swift adoption.
Application Outlook and Trend Analysis
Some of the application of the endoscopy devices market are Gastrointestinal (GI) Endoscopy, Laparoscopy, Urology Endoscopy, Arthroscopy, Obstetrics/Gynecology Endoscopy, Mediastinoscopy, Bronchoscopy, Laryngoscopy, Otoscopy, and Other Applications. GI endoscopy is predicted to rule the industry during the forecast period since it seemed to have gained more than 40% market share in 2017. Moreover, due to the rising need for lower as well as upper GI endoscopy procedures and increasing prevalence of gastrointestinal disorders, this segment will propel in future. Besides, laparoscopy segment will experience positive growth during the forecast period due to the mounting need for laparoscopic procedures. More and more prevalence of cancer cases across the globe has had an impact on laparoscopy segment.
End User Outlook and Trend Analysis
Hospitals and clinics segment accounted for the major share of the global endoscopy devices market in 2016. Due to the extensive usage of endoscopy devices in hospitals and clinics to perform minimally invasive procedures, the segment is projected to exhibit the fastest growth during the forecast period. Increasing incidence of chronic disease and rising geriatric population are largely contributing to the increasing number of endoscopy procedures being performed in hospitals and clinics around the world leading to a significant market share for the segment.
Regional Trend Analysis
Region-wise, North America led the global endoscopic devices market due to the economically sound and well-equipped hospitals along with several healthcare institutions. Furthermore, readily accepting new approaches in the field of medicine, like the robot-assisted technologies is said to further swell the demand for these devices in this region. However, Asia-Pacific endoscopy devices market is expected to register at the fastest growth during the forecast period due to increased emphasis on the advancement of healthcare infrastructure in emerging economies such as China and India to mitigate highly unmet medical needs in these developing nations.
Competitive Analysis
The major players operating in the global endoscopy devices market are focusing on product development to design and develop endoscopy devices that can enable minimally invasive procedures which result in shorter recovery time for the patients and in turn secure a larger share of the competitive market. For instance, in May 2017, US Endoscopy, an Ohio based company involved in the design and manufacture of endoscopy devices launched its VIA procedure kits- custom. The kit offers customers the choice to assemble their own kit according to their specific needs and includes over 30 unique components such as lubrication jellies, syringes and infection control solutions. Some of the key players operating in the global endoscopy devices market are US Endoscopy, Ethicon US, LLC. (a part of Johnson & Johnson Services, Inc.), Cook Group Incorporated, Olympus Corporation, Richard Wolf GmbH, FUJIFILM Holdings Corporation, Smith & Nephew PLC, KARL STORZ GmbH & Co. KG, PENTAX Medical (a part of HOYA Corporation), Medtronic plc, Boston Scientific Corporation, Stryker Corporation, CONMED Corporation, B. Braun Melsungen AG and Siemens AG.
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Endoscopy Devices Market Segmentation:
By Product:
Rigid Endoscopes
Flexible Endoscopes
Capsule Endoscopes
Robot-assisted Endoscopes
ByApplication:
Gastrointestinal Endoscopy
Laparoscopy
Urology Endoscopy
Arthroscopy
Obstetrics/Gynecology Endoscopy
Mediastinoscopy
Bronchoscopy
Laryngoscopy
Otoscopy
Other Applications
By End User:
Hospitals and Clinics
Ambulatory Surgical Centers
Mobile Endoscopy Units
Office-Based Setting
By Region
North America
The U.S.
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
South Africa
Rest of South America
The Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
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Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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