Crystal Market Research (CMR) render to you profound details in respect to leading participants, regions, application and type of the Endoscopy Devices Market which is estimated to encounter substantial growth over the forecast period 2018-2025.
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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 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.
Major Key Players:
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 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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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. This devices is safe to be ingested by a patient and travels through the intestinal tract. There is tiny camera inside the capsule which captures high-quality images of 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.
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 a fastest growth during the forecast period due to increased emphasis on advancement of healthcare infrastructure in emerging economies such as China and India to mitigate highly unmet medical needs in these developing nations.
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 extensive usage of endoscopy devices in hospitals and clinics to perform minimally invasive procedures, the segment is projected to exhibit 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.
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Endoscopy Devices Market Segmentation:
By Product: Rigid Endoscopes, Flexible Endoscopes, Capsule Endoscopes & Robot-assisted Endoscopes
By Application: 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: (U.S, Canada & Mexico), Europe: (Germany, France, UK, Italy, Spain & Rest of Europe), Asia-Pacific: (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific) and Rest of the World: (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates & Others)
Major ToC of Endoscopy Devices Market:
Part 1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
Part 2. Executive Summary
2.1. Key Highlights
Part 3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Increasing Incidence of Chronic Diseases such as Cancer
3.2.1.2. Technological Advancements Resulting in Miniaturization of Endoscopes
3.2.1.3. Increasing Preference towards Minimally Invasive Surgeries
3.2.1.4. Shorter Post-operation Hospital Stays and Recovery Time
3.2.2. Restraints
3.2.2.1. High Cost of Endoscopy Devices
3.2.2.2. Risk of Infections Caused Due to Endoscopes
3.2.3. Opportunities
3.2.3.1. Unmet Medical Needs in Emerging Economies
....CONTINUED FOR TOC
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