The global endoscopy devices market size is expected to reach USD 58.1 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 7.4% during the forecast period. Growing preference for minimally invasive endoscopic procedures, increasing geriatric population, and increase in prevalence of target gynecological, urological, & gastrointestinal diseases are key factors contributing to market growth. Technological advancements in endoscopes and visualization systems are also positively impacting the market.
High
demand for endoscopes, visualization systems in diagnostics, and therapeutics
for various target diseases plays a vital role in increasing revenue. Growing
preference for minimally invasive surgical alternatives, such as laparoscopy,
hysteroscopy, and colonoscopy, to open surgeries is reinforcing demand for
endoscopic devices. The shift toward minimally invasive procedures can
attributed to the associated benefits, such as better patient satisfaction,
economic viability, relatively shorter hospital stays, and reduced postsurgical
complications. Growth of the market can also be attributed to increasing
preference for HD visualization systems by healthcare professionals, due to
their better imaging capabilities. They help in diagnosis and treatment of
complex diseases, such as cancer, GI disorders, lung disorders, and urinary
disorders and are minimally invasive.
Availability
of technologically advanced devices, such as HD visualization systems,
robot-assisted endoscopes, disposable endoscopes, and HD resolution camera
heads is also driving the market. Market players such as Stryker Corporation,
Olympus Corporation, and Ethicon Endo-Surgery, LLC are investing on R&D to
improve existing products along with launch of new products, which is expected
to drive the endoscopy devices market further. For instance, in 2016, Olympus
launched the VISERA 4K UHD surgical system equipped with a 55-inch primary
operative HD display, to enhance minimally invasive surgical procedures. It
also launched a 3D surgical endoscope in June 2017, which was compatible with
the VISERA ELITE II HD imaging system. In March 2018, Auris Health, Inc.
received FDA approval for the Monarch Platform-a new robotic endoscopic system.
This platform uses 3D imaging to facilitate depth perception, thereby enabling
high precision in surgeries.
Full Research Report On Endoscopy Devices Market Visit Here:
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Endoscopy Devices
Market Report Highlights
- By product,
endoscopy visualization systems emerged as the largest product segment in
2018, with a revenue share of 42.7%
- By
application, gastrointestinal endoscopy accounted for the largest revenue
share in 2018. Meanwhile, urological endoscopy is expected to grow at the
fastest CAGR over the forecast period
- Hospitals
emerged as the leading end-use segment, while ambulatory surgery centers
is expected to show a significant growth rate
- North America
accounted for the largest market, due to a favorable reimbursement
framework, high disease prevalence, growing geriatric population, and
rapid adoption of minimally invasive endoscopic procedures
- Asia Pacific
is anticipated to show a lucrative CAGR of 8.6% over the forecast period,
owing to substantial economic growth, high prevalence of cancer,
improvement in healthcare infrastructure, and increase in awareness about
minimally invasive surgeries
- Olympus
Corporation; Fujifilm Holdings Corporation; Ethicon Endo-Surgery, LLC;
Stryker Corporation; Medtronic; Richard Wolf Gmbh; Boston Scientific
Corporation; Karl Storz; and CONMED Corporation are leading players.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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