Growing Demand for Advanced Healthcare to Propel Growth of the Global Endoscopy Equipment Market

The developing speculations and concedes by governments globally for improving human services offices and innovative work in the field of restorative gadgets are giving a fillip to the worldwide endoscopy equipment market. Also, the immediacy of ideal repayment arrangements in a few nations over the world is propelling growth of the global endoscopy equipment market.

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What are the other factors influencing growth of the global endoscopy equipment market?

The global endoscopy equipment market is gaining traction due to swiftly changing technologies and growing innovative headways. Additionally, growing technologies and innovations are encouraging other caregivers to adopt the scaled down and expendable endoscopes. Additionally, growing social insurance and rising number of facilitated commerce assertions are expected to offer numerous opportunities for the growth of the global endoscopy equipment market.

Endoscopy equipment is utilized in emergency clinics and facilities. The expanding number of medical clinics coupled with the rising ventures by emergency clinics in endoscopy units is boosting growth of the market. However, factors such as high expenses on endoscopy methods, strict administrative approaches, and absence of talented faculty are hampering growth of the global endoscope equipment market.

Which are the key regions in the global endoscopy equipment market? Which are the key players in the market?

North America is accounting for the leading share in the global endoscopy equipment market. The US is accounting for the largest share in the overall endoscopy equipment market. This growth is attributable to the high incidence of gastrointestinal diseases, colorectal diseases, and growing geriatric population. Germany, France, and the UK are the key countries consuming the endoscopic equipment and responsible for the significant growth of the European endoscopy equipment market.

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The leading companies operating in the global endoscopy equipment market are Medtronic plc, Stryker Corporation, Boston Scientific Corporation, CONMED Corporation, Olympus Corporation, Richard Wolf GmbH, and Fujifilm Holdings Corporation. The leading companies in the market have focused on the research & development (R&Ds) activities for competitive range of products. Additionally, players in the global endoscopy equipment market are centering towards strategies such as acquisitions, mergers, and partnerships.

Endoscopy Equipment Market: Favorable Industry Statutes for Product Development ups Competition

The global endoscopy equipment market features a high degree of competition due to favorable industry statutes that support product development, reports Transparency Market Research (TMR) in a new report. Rising investments in the medical devices sector generally is likely to account for surging competition among players involved in the manufacture of medical devices such as endoscopy equipment. Players in the medical devices sector have been aggressively involved in product development in a bid to expand their product offerings and gain an edge in the competition.

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Prominent companies to name in the endoscopy equipment market are Arthrex Inc., B.Braun Melsungen AG, Karl Storz GmbH & Co., Olympus Corporation, Fujifilm Holdings Corporation, Stryker Corporation, Boston Scientific Corporation, Cook Medical Inc., Smith & Nephew Plc, and Medtronic plc.

Modernization of Healthcare Services in Developing Countries Fuels Demand for Novel Medical Devices

At present, the healthcare sector in developing economies of Asia Pacific is undergoing modernization stoking adoption of modern medical devices for diagnosis and therapeutics. This is boosting demand for endoscopy equipment. Countries such as China, India, Malaysia, and Indonesia are likely to fuel demand for endoscopy equipment due to the adoption of novel healthcare practices and government support for advancement of healthcare facilities.

Furthermore, endoscopy systems are increasingly becoming an integral component of hospitals, nursing homes, and clinics to monitor bodily functions and diagnosis of medical conditions. The non-invasive nature of endoscopy accounts for its increasing adoption, thereby benefitting the endoscopy equipment market.

Well-acceptance of Endoscopy in Developed Countries for Treatment of Gastroenterological Conditions Stokes Growth

The global endoscopy equipment market is poised for stable growth in the upcoming years mainly because of rising application of endoscopy for diagnosis of several medical conditions, steady product development initiatives in the medical devices sector, and ultra-modern healthcare facilities in developed countries.

In recent years, innovations and developments in endoscopy equipment has been contributing to the medical devices sector with the latter reporting exponential growth. The trend is observed not only in developed countries but in developing countries as well.

The rising incidence of gastroenterological disorders in developed regions such as North America and Western Europe is one of the significant factors behind the growth of endoscopy equipment market. Endoscopy equipment is widely used for gastroenterological conditions which are on the rise due to changing lifestyle and unhealthy dietary choices. Endoscopy is well accepted for the diagnosis of gastric disorders to ensure steady growth of the endoscopy equipment market in the near future.

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Endoscopy Equipment Market: Gastroscopy to Emerge as Key Application Area

San Francisco, California, October 05, 2017: TMR Research has published a new report titled, “Endoscopy Equipment Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.” According to the report, the global endoscopy equipment market is growing on account of the increasing investments and grants by governments across the globe. The growing healthcare expenditure is also boosting the growth of the market. The presence of favorable reimbursement policies, increasing disposable income and improvements in technology are some of the other factors propelling the growth of this market. The improvement in the healthcare infrastructure in emerging economies will also help boost the growth of the global endoscopy equipment market. Additionally, the increasing number of free-trade agreements will drive the growth prospects of the market worldwide.

Global players within the endoscopy equipment market are focusing on expansion strategies such as mergers, acquisitions, partnerships, and collaborations. This will help these companies to secure their position in the market while also expanding their product portfolio and expanding their technical expertise. This in turn will help the global endoscopy market to progress. Some of the endoscopy equipment most commonly used include: endoscopy display systems, tubes, endoscopy videoscope, endoscopy camera, lens system, endoscopy irrigation pumps, and eyepiece. These equipment are used for minor surgeries and imagery..

On account of the ability to target those areas of the body which are inaccessible, endoscopy equipment are becoming a primary method for detection of chronic and acute gastrointestinal disorders. This will further help the market to grow. The high quality visualization that endoscopy devices offer is extremely helpful for doctors to detect, diagnose, and treat diseases accurately, driving their demand. The growing application areas of these devices in urology and gynecology will drive the growth prospects for this market.

One of the recent market trends is the growing use of capsule endoscopy wherein a pill sized endoscopy device is consumed by the patient. This capsule device captures images as it passes through the patient’s body. The emergence of robot-assisted surgery and single-incision surgery will benefit the growth of the endoscopy equipment market. The growing popularity and demand for minimally invasive surgeries will also push the demand for these devices. However, the high cost of endoscopy procedures and strict regulatory policies are two challenges in the global endoscopy equipment market.

The global endoscopy equipment market is segmented on the basis of end user into clinics and hospitals, the growing number of hospitals and the increasing number of investments by hospitals in endoscopy units will boost the growth of the market. The growing collaborations and partnerships between hospitals and endoscopy equipment manufacturers will also encourage the growth of the market. Endoscopy equipment are also being used in diagnostic labs and in academic or research centers. In addition to this, the growing prevalence of diseases that require endoscopy procedures is also an important factor driving growth if the market.
On the basis of product, the market is segmented into visualization systems and endoscopes. The endoscope segment is further segmented into rigid, capsules, and flexible. By application, the global market for endoscopy equipment is segmented into gastrointestinal endoscopy, bronchoscopy, hysteroscopy (endoscopy of uterus), laparoscopy, colonoscopy, otolaryngology, falloposcopy (endoscopy of fallopian tubes), and arthroscopy. Of these, the gastroscopy segment holds key shares in the market. Over the forecast period, the laparoscopy segment will gain prominence.

On the basis of geography, the market will be led by North America. Europe and Asia Pacific will also be key markets for endoscopy equipment. The high incidence of colorectal diseases and gastrointestinal disorders in the U.S. will drive the market in North America. Germany and the U.K. will be key markets in Europe. China, Taiwan, and India are key markets for endoscopy devices in Asia Pacific.

The leading companies operating in the global market for endoscopy equipment include Stryker Corporation, Medtronic plc, Boston Scientific Corporation, Olympus Corporation, CONMED Corporation, Ethicon, Fujifilm Holdings Corporation, and Richard Wolf GmbH. Several leading companies have been focusing on R&D activities in order to come up with newer, competitive range of products.

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