According to the report Global Endoscopy Devices Market, published by Market Data Forecast, The Market was worth $26.91 billion in 2016 and estimated to be growing at a CAGR of 6.80%, to reach $37.40 billion by 2021.
Endoscopy is a technology that has altered the viewpoint of identifying diseases and the way surgeries were achieved previously and are receiving attention across the world.
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Endoscopy consists of methods which are cost-effective ensuing in fewer complications post-surgery and negligible scars in the body. These surgeries also decrease the length of stay of the patient at the hospital. Devices such as endoscopes, visualization systems, and operative devices give direct insight inspection of the organs, unlike other medical imaging tools.
The growth of the Global Endoscopy Devices Market is mainly driven by factors such as growing number of hospitals, increasing investments, and grants by administration bodies worldwide. In addition, growing patient predilection for minimally invasive operations, technological advancements, favourable reimbursement coverage in selected countries, growing geriatric population are some of the other important factors contributing towards the market growth. However, lack of skilled operators and diseases acquired from unsterilized endoscopes are hindering the growth of the market.
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Global Endoscopy Devices Market: Segmentation
By Product
· By Endoscopes
o Flexible Endoscopes
o Rigid Endoscopes
o Capsule Endoscopes
· Visualization Systems
· By Other Endoscopy Equipment
o Electrical Endoscopy Equipment
o Mechanical Endoscopy Equipment
By Application
· Laparoscopy
· Bronchoscopy
· GI Endoscopy
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. Currently, North America leads the global Endoscopy Devices market with nearly half of the share followed by Europe. However, The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period due to reasons such as an increase in demand for less invasive surgeries.
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Owing to the speedy progress of the market in the use of endoscopes, medical device firms that are able to launch new innovative devices will be rewarded with high gains. The major companies dominating the Endoscopy Devices market are Ethicon, Stryker Corporation, Karl Storz GmbH, Boston Scientific Inc., Olympus Corporation, Covidien Plc, Smith and Nephew Inc., Fujifilm Holding Corporation.
Reasons to buy Global Endoscopy Devices Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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