South Asia Flexible Endoscope Market Expected to Reach $510Million, by 2025

According to a new report published by Allied Market Research, titled,"South Asia Flexible Endoscope Market by Application and End user: Opportunity Analysis and Industry Forecast, 2018 - 2025",the market was valued at $284 million in 2017, and is projected to reach $510 million by 2025, growing at a CAGR of 7.4% from 2018 to 2025.

Flexible endoscopes are optical medical instruments that help screen and execute diagnostic interventions inside the hollow cavities and visceral organs of the body, such as the gastrointestinal (GI) tract, brain, lungs, abdomen, and others. The increase in the number of endoscopic procedures due to growing ailments, such as abdominal pain, ulcers, digestive tract bleeding, abnormal growths in the colon, and other abdominal & gastrointestinal diseases, is expected to boost the market growth. The market for flexible endoscope has witnessed tremendous growth in the recent years, owing to rise in patient preference toward minimally invasive surgeries.

The major factors that boost the growth of the South Asian flexible endoscope market are technological advancements in visualization systems (such as 4K cameras to improve image and video quality), surge in preference for minimal invasive surgeries, and rise in adoption of endoscopy procedures. In addition, increase in unmet medical needs in the developing countries and miniaturization of endoscopic devices are anticipated to offer lucrative opportunities for the market growth. However, dearth of skilled professionals and high costs associated with medical videoscope hamper the market growth. Conversely, the unmet medical needs in the developing countries along with rise in disposable incomes of the South Asian population is also anticipated to provide lucrative opportunities for the market during the forecast period.

By application, the laparoscopy segment dominated the flexible endoscopy market, accounting for a revenue nearly one-third of the market share in 2017, growing at a CAGR of 7.4% from 2018 to 2025. This is attributed to increase in obese population and rise in demand for minimal invasive surgeries such as laparoscopy for weight reduction (bariatric surgeries). Manufacturers of laparoscopy devices have focused on developing robot-assisted endoscopy devices and sophisticated endoscopy cameras with 4-LED multi-light technology to ease the overall procedure.

The hospitals segment led the market with more than half of the market share in 2017. Flexible endoscopes majorly find application in elite hospitals, as they are an expensive modality. Sophisticated visualization systems equipped with high-definition cameras, narrow band imaging, and magnification systems have revolutionized the medical sector, especially minimally invasive surgeries, by enhancing visibility and improving image quality during endoscopy procedures. All these factors together drive the demand for flexible endoscope devices for visualization and screening interventions.

Key Findings of the South Asia Flexible Endoscope Market:

• Laparoscopy application accounted for approximately one-third share of the market in 2017.
• India accounted for more than two-thirds market share in 2017 and is expected to maintain this trend throughout the forecast period.
• The hospitals segment is anticipated to grow at a CAGR of 6.2% from 2018 to 2025.
• The gastrointestinal endoscopy segment is estimated to grow at the highest CAGR of 8.3% during the forecast period.

The report provides an extensive competitive analysis and profiles of the key market players, such as Boston Scientific Corporation, Conmed Corporation, Fujifilm Holdings Corporation, HOYA Corporation, Johnson & Johnson (Ethicon, Inc.), Karl Storz GmbH & Co Kg, Olympus Corporation, Stryker Corporation, Vimex sp. Z o.o (Vimex endoscopy). The other players included in the value chain analysis (but not included in the report) are Richard Wolf GmbH, Hill Rom holding Inc., Smith & Nephew, and Xion GmbH,

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