Jul 17, 2020 (AmericaNewsHour) --
Endoscopy has changed the way how diseases were detected and surgeries were performed previously. With minimal invasion and post operation complications along with nearly no scars on the body, it is one of the most sought after procedures. Also, these surgeries reduce the period of stay at the hospital and ensures quicker recovery. Endoscopy is done to examine abdominal pain, digestive tract bleeding, ulcers and abnormal growths in the colon and abdominal & gastrointestinal conditions.
An endoscope is a device used to diagnose and execute therapeutic interventions inside the visceral organs and hollow cavities of the body like the brain, lungs, oesophagus, abdomen, gastrointestinal tract and others. The devices include visualization systems, endoscopes and operative devices which gives direct and precise insight observation of the organs.
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The global endoscopy devices market is anticipated to grow to $40,854 million by 2022 from $27,273 million in 2015, a CAGR of approx. 5.7%.
Rise in incidences of gastrointestinal diseases, cancer and other chronic diseases worldwide, growing geriatric population without proper access to adequate healthcare facilities, increasing cases of obesity, and changes in demographics & lifestyle are the key factors that drive the endoscopy devices market.
In addition, technological advancement in diagnosis, visualization & surgical endoscopic treatment; and increasing awareness about endoscopic technologies & its advantages over the traditional methods amongst the patients & medical professionals has stimulated the demand for endoscopic devices, giving a boost to the market.
But rapidly changing technology and time taking government procedures & policies, favourable FDA approvals and high capital investment required are the factors that restrain the growth of such markets.
The endoscopy devices market is segmented based on product into endoscopes, mechanical endoscopy equipment, visualization & documentation systems, accessories and other equipments. Moreover, endoscope segment is further segregated into capsule endoscopy, robot-assisted endoscopy and general endoscopy devices. The flexible endoscope dominates the global endoscopy devices market. By application, this market is segmented into Bronchoscopy, Arthroscopy, laparoscopy, Urology endoscopy, Neuro Endoscopy, ENT endoscopy, Gynaecology Endoscopy, Gastrointestinal endoscopy and others. By end users, it is segregated into Hospitals, clinics and others.
North America dominates the global endoscopy devices market owing to the presence of well-equipped and highly financed healthcare institutions and well trained and skilled practitioners and healthcare professionals. Europe ranks second in the list.
On the other hand, Asia Pacific region is the fastest growing for the endoscopic devices owing to the increasing demand for least invasive surgeries, increased disposable income and better access to newer technologies.
Here is the list of key markets in each region -
North America - U.S.
Europe - UK, France, Germany
Asia Pacific - China, Japan, India
Latin America - Brazil
The Middle East and Africa
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The key players that operate in this market include Olympus Corporation, HOYA Corporation, Holdings Corporation, CONMED Corporation, Fujifilm, Boston Scientific Corporation, Stryker Corporation, Smith & Nephew Plc, Johnson & Johnson, Medtronic Plc and KARL STORZ GmbH. Other players in the value chain are B. Braun Melsungen AG, Frontier Healthcare, Cook Medical, Arthrex Inc., Minntech Corporation (Subsidiary of Cantel Medical Corp.), Richard Wolf GmbH, STERIS Corporation, Advanced Sterilization Products Services Inc., Siemens Healthcare, US Endoscopy Group and others.
The report contains comprehensive analysis on:
Endoscopy Devices Market Dynamics - growth drivers, restraints and opportunities
Endoscopy Devices Market Segment - By method and by product
Endoscopy Devices Market Regional Analysis
Key Players in the Endoscopy Devices Market
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