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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