Market Research Of Endoscopy Devices Market By Knowledge Sourcing Intelligence
Introduction
The Endoscopy Devices Market is
projected to grow at a CAGR of 5.94%, increasing from a market size of
US$31.743 billion in 2016 to reach US$42.359 billion in 2022 during the
forecast period. The growth is attributed to high prevalence of
gastrointestinal disorders, continuous evolution in the endoscopic technologies
for the treatment of complex diseases and favorable government approval for
endoscopic devices. The rise in minimally invasive surgical procedures has created
an opportunity for the growth of the endoscopy devices market where the complex
procedures can be easily performed via a small incision.
This has further led to faster
recovery; reduced hospital stays and the post-procedural complications are also
less. Endoscopic devices are used in the internal imaging of the organs and
provide better information with clear imaging of the conditions as compared to
its external imaging substitutes like ultrasound, CT Scan and MRI. Market Research is done by
knowledge sourcing industry due to huge scope with respective industry.
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Sample view of endoscopy devices market share |
By product type,
the endoscopy devices market is segmented
as endoscopes, operative
devices, and visualization systems. Visualization systems
holds the significant share and is anticipated to witness a considerable growth
due to rising prevalence of diseases that
require visualization endoscopy.
Visualization Systems
The endoscopy
visualization systems market is projected to grow at a CAGR
of XX.XX%, rising from US$XX.XX million in 2016 to US$XX.XX billion in
2022. Endoscopy visualization system consists of high quality (HD)
video framework which can be utilized in all kind of endoscopic surgeries
along with improved quality images, wider range of view and minimal invasion.
The endoscopic visualization is used to examine several disease indications
such as cancers, gynecological disorders, renal disorders, nephrological and
urological disorders, and gastrointestinal disorders. Such extensive use of
visualization endoscopy in healthcare is also a major driver for the growth of
endoscopic visualization market.
Faster and swift adoption and
integration system plays a significant role in growth of the market. With the
advancement in the technology visualization systems are now available
with embedded wireless video, lightweight designs, medical-grade
quality and durability. For example, Fujifilms ELUXEO endoscopy
visualization system comes with 4-LED multi-light innovation that enables
switch blue light imaging (BLI), white light (WL), and linked color
imaging (LCI). In December 2017, DePuy Synthes Companies
introduced PUREVUE™ Visualization System which includes intuitive
touch-screen navigation and customizable settings for many minimally invasive
surgery (MIS) applications. Rising healthcare expenditure in emerging
markets with growing access to trained clinicians, low efficient
procedures and diagnosis, quick recovery are also the factors leading to the
growth of endoscopic visualization market.
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Sample view of endoscopy devices market share by product type
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Endoscopy Devices Market Forecast By Geography
Geographically,
global endoscopy devices market is segmented as North America,
Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC). North
America endoscopy devices market will witness a significant
growth during the forecast period at a CAGR of XX% attributed to the
increasing prevalence of diseases such as cancer, and urological and
nephrological indications. Fastest growth will be seen in Asia pacific due huge
investments in the Market such as India, China, and Japan.
North America
North America endoscopy
devices market is projected to grow at a CAGR of XX.XX%, rising from
US$XX.XX billion in 2016 to US$XX.XX billion in 2022 and accounts for the
significant share owing to the supportive reimbursement policies coupled
with the increased awareness of patients and clinicians towards
the adoption of new endoscopy technologies, due to the advantages offered
by endoscopes devices. There is also significant increase in investments by the
hospitals to purchase new endoscopic equipment, increased in number of
approvals by regulatory for the devices and increased research activities
by the various players to improve endoscopic technologies in US and
Canada. Recently FDA approved Hemospray by Cook Medical which is a
single-use device that delivers hemostatic powder through the channel of an
endoscope for the treatment of gastrointestinal bleeding.
Prevalence of GI disorders worldwide
There is a worldwide
prevalence of gastrointestinal (GI) disorders which have given rise to diseases
such as chronic constipation, gastroesophageal reflux diseases and other
gastrointestinal infections. Prevalence of these diseases is due to
unhealthy lifestyle conditions giving rise to stress and anxiety. Also, certain
genetic and environmental factors are also responsible giving rise to several
GI disorders. North America has the highest prevalence of functional GI
disorders followed by Japan from the Asia-Pacific region. According to the
digestive disease statistics, 60 to 70 million people affected by all digestive
diseases in the United States (Source: National Institutes of Health, U.S.
Department of Health and Human Services). This requires a constant routine
check of the internal organs in order to prevent the harmful effects of
diseases. Hence, the high prevalence of GI disorders worldwide has a high
impact on the global endoscopy devices market.
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