Acumen Research and Consulting has published a new report titled "Endoscopy Market (By Product: Rigid Endoscopes [Laparoscopes, Arthroscopes, Urology endoscopes, Cystoscopes, Gynecology endoscopes, Neuroendoscopes, Other rigid endoscopes], Flexible Endoscopes [Upper gastrointestinal endoscopes, Colonoscopes, Bronchoscopes, Sigmoidoscopes, Laryngoscopes, Pharyngoscopes, Duodenoscopes, Nasopharyngoscopes, Rhinoscopes, Other flexible endoscopes], Capsule Endoscopes, Disposable Endoscopes, Robot Assisted Endoscopes; By Application: Gastrointestinal (GI) endoscopy, Urology endoscopy (cystoscopy), Laparoscopy, Obstetrics/gynecology endoscopy, Arthroscopy, Bronchoscopy, Mediastinoscopy, Otoscopy, Laryngoscopy, Other applications; By End-user: Hospitals, Ambulatory surgery centers, Other End Uses) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026". The global endoscopy market size is anticipated to around USD 18.4 billion by 2026, this market is anticipated to grow with 8.8% CAGR during the forecast time period.The market is driven by increasing numeral of hospitals and increasing hospital investments in particularly in endoscopy facilities.
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Endoscopys is a lighted, medical device, which is 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 short the endoscopy assist in carrying out diagnostics for human body.
Surge in obesity, geriatric population, and changes in the demographics & 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 endoscopys globally.
Also, advancement in technology in field of diagnosis, visualization and surgical endoscopic treatment are the other reason, which are driving the need for better equipment and devices for diagnosing the disease are also a stimulating the need for endoscopys. Also, surging awareness about the endoscopic technologies & its benefits are also driving the growth of the global endoscopy market.
Among product segment, the gastrointestinal (GI) endoscopy sub-segment is anticipated to holds for the largest share of the global endoscopy market. This attributed to increasing acceptance of minimally invasive procedures, growing technological advancements, and disposable endoscopes along with the corresponding requirement to repeat the purchase of single-use products.
Increasing the geriatric population coupled with advancement in healthcare infrastructure especially in developing economies are driving the need for efficient and advance endoscopys. 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 endoscopys market during the forecast period.
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The global endoscopy market is segmented intoproduct, application, end-userand region.On the basis ofproduct, the global endoscopy market is segmented into Rigid Endoscopes (Laparoscopes, Arthroscopes, Urology endoscopes, Cystoscopes, Gynecology endoscopes, Neuroendoscopes, and Other rigid endoscopes), Flexible Endoscopes (Upper gastrointestinal endoscopes, Colonoscopes, Bronchoscopes, Sigmoidoscopes, Laryngoscopes, Pharyngoscopes, Duodenoscopes, Nasopharyngoscopes, Rhinoscopes, and Other flexible endoscopes), Capsule Endoscopes, Disposable Endoscopes, Robot Assisted Endoscopes. On the basis of application, the global endoscopy market is segmented into Gastrointestinal (GI) endoscopy, Urology endoscopy (cystoscopy), Laparoscopy, Obstetrics/gynecology endoscopy, Arthroscopy, Bronchoscopy, Mediastinoscopy, Otoscopy, Laryngoscopy, and Other applications. On the basis of end-user, the global endoscopy market is segmented into hospitals, ambulatory surgery centers, and other end uses. On the basis of region the global Endoscopy market is bifurcated into Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.
North America holds the major market share of the global endoscopys market owing to U.S supportive government reimbursement scenario. Followed by North America, Europe is captured second largest market share in the global endoscopy market owing to increasing occurrence of cancer coupled with growing hospitals investment to purchase endoscopy.
Among end-user segment, hospital sub-segment captures the major market share in 2017. The acceptance of endocopy devices in hospital are attributed to different partnerships and collaborations between endoscopys manufacturing companies and hospitals are significantly affect the global endoscopys 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 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 endoscopy devices to carry out advance diagnostic.
Market companies are concentrating on implementing new strategies for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. And also, growing R&D investments paired with technical advancements to commercialize highly efficient products are expected to offer huge growth opportunities for industry participants. Some of the main businesses present in the Endoscopy market are Richard Wolf Gmbh, Fujifilm
Holdings Corporation, Karl Storz, and Olympus. Significant strategic initiatives undertaken by global businesses include partnerships, new product launch, acquisitions.
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