The global disposable endoscopy size is expected to around USD 3.1billion by 2026, the market is projected to grow with 27.1% CAGR during the forecast timeframe. Increase in demand for economic healthcare equipment drives the need for the global disposable endoscopy growth.
Endoscopy Devices is a medical equipment, which is a lighted, medical device and are widely use to execute diagnostic analysis and therapeutic interventions inside the hollow cavities and visceral organs of the human body, for instance esophagus, brain, gastrointestinal (GI) tract, lungs, abdomen, and others. In other words, endoscopy device support in carrying out diagnostics for human body. These device gets contaminated when reused and also reprocessing or retreating these endoscopy devices are very costly, therefore to develop cost effective endoscopy devices, disposable endoscopy devices came into existence.
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Ascend in rates of growth diseases such as cancer, gastrointestinal ailments, and other endless infections around the world are driving the demand for better disposable endoscopy devices during the forecast period. Also, growing geriatric population, obesity, and changes in demographics & lifestyle are the main factors, which are boosting the growth of the better healthcare devices such as disposable endoscopy devices market. Also, technological advancement in diagnosis, visualization, & surgical endoscopic treatment paired with rise in awareness of endoscopic technologies & its benefits among the patients & medical professionals stimulate the need for disposable endoscopic devices, thus driving the industry growth.
Though, many factors are anticipated to confine the market development. The influence of the drivers is projected to be higher than the restraints. Furthermore, a surge in the effects of drivers and restraints is expected to disclose new market avenues for key players manufacturing endoscopy devices, particularly capsule and flexible endoscopy systems.
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Increasing the geriatric population coupled with advancement in healthcare infrastructure especially in developing economies are driving the need for efficient and advance disposable endoscopy devices. Also, surge in incidence of colonoscopy procedures performed in emerged economies countries such as U.S is the other factor driving the need for the global disposable endoscopy devices market during the forecast period.
Increase in geriatric population, obesity, and changes in the demographics and lifestyle are the main factors responsible for increase in occurrences of gastrointestinal diseases, cancer and other types of chronic diseases across the globe, which are driving the demand for more efficient disposable endoscopy devices globally.
Similarly, progression in technology in field of visualization, diagnosis, and surgical endoscopic treatment are the other reason, which are driving the need for better equipment and devices for diagnosing the disease are likewise a stimulating the demand for endoscopy devices. Also, increasing awareness about the endoscopic technologies & its benefits are also driving the growth of the global disposable endoscopy market.
The global disposable endoscopes market is segmented into three major segment named application, end-user, and region. On the basis of application the disposable endoscopes market is segmented into bronchoscopy, urologic endoscopy, arthroscopy, GI endoscopy, proctoscopy, and others. On the basis of the end-user the global disposable endoscopes market is segmented into hospitals, diagnostic centers and clinics. On the basis of region the global Disposable Endoscopes market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Among end-user segment, hospital sub-segment captures the major market share in 2018. The acceptance of disposable endoscopy devices in hospital are attributed to different partnerships and collaborations between disposable endoscopy devices manufacturing companies and hospitals are significantly affect the global disposable endoscopy devices market. Hospital segment under end-user are projected to hold high market share in 2026 owing to increase in strategic partnership among hospitals and endoscopy manufactures and also, increase in the numbers of hospitals are the other crucial factor triggering the growth of the disposable endoscopy market during the forthcoming years. Apart from above, to develop healthcare sectors government are also supporting hospitals to equipped with better devices such as disposable endoscopy devices to carry out advance diagnostic.
North America holds the major market share of the global disposable endoscopy devices market owing to U.S supportive government reimbursement scenario. Followed by North America, Europeholdsthe second largest market share in the global disposable endoscopy device market owing to increasing occurrence of cancer coupled with growing hospitals investment to purchase disposable endoscopic devices.
The key players catering to the global disposable endoscopy are Hill Rom Holdings, Ambu A/S, Inc., OBP Medical Corporation, Boston Scientific Corporation, and Flexicare Medical Ltd. These companies are investing enormouswealth to revolutionise the product portfolio as the rivalry in the market is growing with rapid pace. Similarly, with varyingexpertise the need for better healthcare infrastructures are growing, so to cater the need of the customers, players are continuously innovating new products.