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| Global Endoscopy Device Market |
Endoscopy
devices are minimally-invasive diagnostic medical devices
used to assess the internal organs of the body. These devices are
used to examine unusual symptoms and to perform surgery. Such as
device comprises a flexible tube with an attached camera, which
allows the doctor to view potential threats without a large incision.
While, therapeutic endoscopy devices are modified with surgical
instruments to carry out surgeries such as removal of kidney stones
and fibroids. The procedure is associated with minimal post operation
complications, thus making it the most preferred and pursued
procedure in surgery and diagnostics. These devices include operative
devices and visualization systems, which gives direct insight of the
organs for efficient treatment, unlike other medical imaging devices.
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Increasing
prevalence of chronic diseases among the aging population to boost
market growth
According
to the World Health Organization in 2011, the world's population aged
60 years and above will double from 11% in 2000 to 22% by 2050.
Growing geriatric population, who are more prone to cancer,
orthopedic, and ophthalmic gastrointestinal diseases, is expected to
boost market growth. Also, endoscopy assures low-risk procedures and
are easily covered by health insurance. Additionally, rising
prevalence of diseases requiring endoscopy for diagnosis and
treatment, rising geriatric population, technological advancements,
increasing number of FDA approvals, and high number of reimbursement
policies are other factors driving growth of the endoscopy devices
market.
Development
of advanced 3D imaging providing depth perception is expected to
boost market growth
Regional
segmentation of the global endoscopy equipment market by Coherent
Market Insights comprises North America, Europe, Asia Pacific, Latin
America, Middle East, and Africa. According to the World Journal of
Gastrointestinal Endoscopy in 2016, 7 million people in the U.S.
showed symptoms of Gastroesophageal Reflux Disorder (GERD), the
number for which was expected to reach around 9 million by 2025.
North America thus holds a dominant position in the global endoscopy
equipment market with the increasing prevalence of diseases and
increasing number of approved government grants. Europe is likely to
witness surging demand as a result of rapidly aging population,
increasing obese population, growing incidence of associated
diseases, as well as advancements in technology pertaining to the
devices. According to the Journal of Neurogastroenterology in 2011,
the prevalence of endoscopic reflux esophagitis in East Asia
accounted for 6% in 2005, which increased to 15% in 2015.
Robot-assisted
endoscopic devices are expected to boost market growth in the future
Key
players operating in the global endoscopic devices market include,
•
Artherx Inc.
•
Boston Scientific Corporation
•
Conmed Corporation
Covidien
has the largest market for capsule endoscopy due to the increased
preference amongst physicians globally. Other vendors include Olympus
Corporation, Ethicon, Karl Storz GmbH, Fujifilm Holding Corporation,
and Richard Wolf GmbH.
The
global endoscopy device market is segmented on the basis of product
type, applications, end user, and geography.
On
the basis of product type, the global endoscopy devices market is
segmented into:
•
Endoscopes
•
Rigid Endoscopes
•
Flexible Endoscopes
•
Capsule Endoscopes
•
Surgical Endoscopes
•
Robot-assisted Endoscopes
On
the basis of applications, global endoscopy devices market is
segmented into:
•
Gastrointestinal Endoscopy
•
Gynecology Endoscopy
•
Urology Endoscopy
•
Bronchoscopy
•
Laryngoscopy
•
Neuroendoscopy
•
Others
On
the basis of end user, global endoscopy devices market is segmented
into:
•
Hospitals
•
Ambulatory Surgical Centers
•
Clinics
•
Others
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Coherent Market Insights:
Coherent
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offering action-ready syndicated research reports, custom market
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various recommendations related to emerging market trends,
technologies, and potential absolute dollar opportunity.
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