Endoscopy Devices Market Overview:
The global endoscopy devices market is anticipated to grow at a CAGR of 5.7% from 2016 to 2022, and reach $40,854 million by 2022 from $27,273 million in 2015. An endoscope is a lighted, medical device used to execute diagnostic and therapeutic interventions inside the hollow cavities and visceral organs of the body such as the brain, esophagus, lungs, abdomen, gastrointestinal (GI) tract, and others.
Endoscopy is carried out to examine abdominal pain, ulcers, digestive tract bleeding, and abnormal growths in the colon and other abdominal & gastrointestinal conditions. The minimally invasiveness of this procedure with fewer post operation complications makes it one of the most preferred and sought-after procedures in diagnostics and surgery. The endoscopy devices market is segmented based on product into endoscopes, visualization & documentation systems, mechanical endoscopy equipment, accessories, and other endoscopy equipment. Furthermore, endoscope segment is segregated into endoscopy devices, capsule endoscopy, and robot-assisted endoscopy. The flexible endoscopes hold a dominating share in the global endoscopy devices market, and is expected to maintain its lead during the forecast period. This is attributed to the diverse application of these endoscopes to diagnose and treat different diseases and increased adoption of flexible endoscopes across different healthcare settings.
Rise in incidences of cancer, gastrointestinal diseases, and other chronic diseases worldwide, owing to the growth in geriatric population, obesity, and changes in demographics & lifestyle are the major factors that drive the growth of the endoscopy devices market. In addition, technological advancement in visualization, diagnosis, & surgical endoscopic treatment; and increase in awareness of endoscopic technologies & its advantages among the patients & medical professionals stimulate the demand for endoscopic devices, thus boosting the market growth. However, numerous factors are expected to restrain the market development. The impact of the drivers is estimated to be higher than the restraints. Moreover, an increase in the effects of drivers and restraints is anticipated to reveal new market opportunities for key players manufacturing endoscopy devices, especially flexible and capsule endoscopy systems.
The endoscopy unit at hospitals is furnished with devices (such as flexible, rigid, capsule, and robot-assisted endoscopy, depending upon the usage), trolleys, cabinets, visualization & documentation systems, mechanical endoscopy system (endoscopic implants, trocars, biopsy forceps and others), accessories, medication, insufflators, and others. Both endoscopy and endotherapy are performed in hospitals, and since they are minimally invasive procedures, they provide various advantages over other surgeries. The technological advancements in endoscopy devices promoted the adoption of endoscopy procedures for various surgeries such as urological endoscopy; gastrointestinal (GI) endoscopy; ear, nose, and throat (ENT) endoscopy; joint surgeries (arthroscopy); and especially in the field of oncology. Hospitals acquire the largest share among users for endoscopy devices. Different collaborations and partnerships between hospitals and endoscopy devices manufacturing companies positively affect the global endoscopy devices market.
Clinics are modern healthcare facilities that focus to provide same-day surgical care, including diagnostic and preventive procedures. Clinics are also well equipped with different endoscopy systems for visualization, detection, and diagnosis of different diseased states. In addition, clinics carry out biopsies of tissue samples to detect cancer and other diseases. Endoscopy procedures are an important section of clinics, and by volume, the largest number of endoscopic diagnosis interventions are carried out in clinics. It enables a safe, cost-effective, patient-friendly environment for the endowment of medical services such as colonoscopy, colorectal cancer screening, and others for patients of all age groups. Clinics in the endoscopy devices market is anticipated to grow at fastest rate, owing to the technological advancement in the endoscopy devices and visualization system coupled with the growth in number of clinics worldwide.
Endoscopy devices have other end users such as standalone diagnostic laboratories and academic & research centers. Different hospitals and contract research organization (CROs) frequently collaborate to share their respective services so as to execute rapid and precise endoscopy operations. Academic and research laboratories are tertiary users of endoscopic services. Academicians, scientists, and researchers involved in the field of health and medicine utilize the endoscopic technologies to study the onset of diseases such as cancer. The researchers study endoscopy procedures through laboratory programs that focus on clinical trials. Research in these laboratories primarily targets design and development of new tools and techniques to improve the diagnosis and treatment of several endoscopic challenges.
The key players that operate in the global endoscopy devices market include Olympus Corporation, HOYA Corporation, Fujifilm, Holdings Corporation, Boston Scientific Corporation, CONMED Corporation, Stryker Corporation, Smith & Nephew Plc, Medtronic Plc, KARL STORZ GmbH & Co. KG, and Johnson & Johnson. Other players in the value chain include B. Braun Melsungen AG, Cook Medical, Arthrex Inc., Frontier Healthcare, Minntech Corporation (Subsidiary of Cantel Medical Corp.), Advanced Sterilization Products Services Inc., Richard Wolf GmbH, STERIS Corporation, Siemens Healthcare, US Endoscopy Group, and others
The study provides an in-depth analysis of the global endoscopy devices market with current trends and future estimations to elucidate the imminent investment pockets.
The report provides a quantitative analysis from 2014 to 2022 to enable the stakeholders to capitalize on prevailing market opportunities.
Competitive intelligence highlights the business practices followed by leading market players across various geographic regions.
Porters Five Force’s model is expected to interpret the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
Extensive analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
ENDOSCOPY DEVICES MARKET KEY SEGMENTS:
- Endoscopy devices
- By flexibility
- Flexible endoscopes
- Rigid endoscopes
- By type
- Urology endoscopes
- OB/GN endoscopes
- Other endoscopes
- By flexibility
- Capsule endoscopy
- Robot-assisted endoscopy
- Endoscopy devices
- Visualization & documentation systems
- Light sources
- Camera heads
- Wireless display & monitors
- Endoscopy cameras
- Digital documentation systems
- Video processors & video convertors
- Transmitters and receivers
- Others (printers, digital capture systems, recorders, couplers & splitters, and others)
- Mechanical endoscopy equipment
- Endoscopic implants
- Biopsy forceps
- Biopsy valves
- Mouth pieces
- Surgical dissectors
- Needle holders and needle forceps
- Cleaning brushes
- Light cables
- Other endoscopy accessories
- Other endoscopy equipment
- Other electronic endoscopy equipment
- Endoscopy ultrasound (EUS)
- Endoscopy fluid management systems
- Other endoscopy instruments
- Other electronic endoscopy equipment
- Urology endoscopy
- Gastrointestinal endoscopy
- Obstetrics/gynecology endoscopy
- ENT endoscopy
By End user
- Rest of LAMEA
- Republic of South Africa
- Saudi Arabia
- Rest of Asia-Pacific
- Rest of Europe
- North America