Endoscopy Devices Market Share Analysis of The Top Industry Players, Growth Opportunities and Country Level Segments
The global endoscopy devices market is growing significantly due to
widening application of endoscopes, increasing popularity of minimally invasive
surgery and technological advancement in the industry. The need of minimally
invasive procedure is considerably increasing in the market, owing to decreased
risk of blood loss and infection during the surgery, smaller scar on the body,
cost saving, shorter stay in hospital and faster recovery.
The endoscopy devices market is categorized on the basis of product
and application. On the basis of products, the market can be categorized as
endoscopes, visualization equipment and others. The various types of endoscopes
include rigid endoscopes, robot assisted endoscopes, flexible endoscopes and
capsule endoscopes; whereas, visualization equipment includes endoscopic
ultrasound devices, standard definition visualization systems and high
definition visualization systems. On the basis of application, the endoscopy
devices market can be segmented as arthroscopy, laparoscopy, otoscopy,
gastrointestinal endoscopy, bronchoscopy, laryngoscopy, arthroscopy, urology
endoscopy, mediastinoscopy, and others.
Some of the factors driving the growth of the global endoscopy devices
market are increasing inclination towards minimally invasive surgeries,
increasing geriatric population, increasing demand for cost-effective
procedure, and increasing prevalence of diseases requiring minimally invasive
surgery. In addition, increasing healthcare spending, refining healthcare
infrastructure, increasing healthcare awareness, and technological advancement
in endoscopy instruments are the other factors fueling the growth of the global
endoscopy devices market. However, high cost of endoscopic procedure, and lack
of trained professionals are some of the factors restraining the growth of the
endoscopy devices market to some extent. Further, safety concerns associated
with reused endoscopes is also inhibiting the growth of the global endoscopy
devices market.
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Geographically, North America will be leading the global endoscopy
devices market in the coming years, due to presence of well-resourced and
highly funded hospitals and healthcare institutes, and growing geriatric
population. In addition, increased use of technologically advanced instruments
for treating and diagnosis of disease also drives the growth of the market in
North America. Asia-Pacific is the fastest growing region in the global
endoscopy devices market. The major reasons for the fastest growth of endoscopy
devices market in the region are increasing healthcare expenditure, huge pool
of patients, increasing government support, and increasing demand for
endoscopic surgeries in the region. Moreover, the endoscopy devices market is
growing due to increasing awareness of minimally invasive surgeries, and establishment
of training centers for endoscopy in the emerging countries, such as India and
China, of Asia-Pacific region.
Some of the companies operating in the global endoscopy devices market are Johnson &
Johnson, Karl Storz Gmbh & Co. Kg, Accellent, Inc., Medivators, Inc.,
Richard Wolf Gmbh, Stryker Corporation, Boston Scientific Corporation, Cook
Medical Incorporated, Welch Allyn, Inc., Hoya Corporation, Aesculap, Inc.,
Olympus Corporation, Smith & Nephew, Applied Medical, and ConMed
Corporation.
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