Medical Devices Industry News

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. Massive unexplored market in endoscopy devices industry of developing economies are creating abundant opportunities for the endoscopy devices market to grow at a considerable rate during the forecasted years. The advanced research and development facilities and inventive product developments by the companies are impelling the growth of the endoscopy devices industry. Endoscopes are proficient devices to provide close examination of internal body organs and structures, and treat diseases. It is used for monitoring different systems of the body ...

"From valuing $18.9 billion in 2018, the global endoscope market is predicted to reach $28.4 billion by 2024, advancing at a 7.2% CAGR during the forecast period (2019–2024). The major driving factors of the market are the technological advancements, rising geriatric population, and growing burden of chronic diseases. Endoscopy is the process of examination of the internal body parts for the diagnosis and treatment of diseases. The instrument used is known as an endoscope, which is made of a flexible, thin tube with a camera and a light source mounted at the top.  Based on type, the endoscope market is categorized into colposcope, laparoscope, laryngoscope, cystoscope, bronchoscope, colonoscope, arthroscope, and esophagoscope. Among all, during the historical period (2014–2018), the highest revenue in the market was generated by the esophagoscope category. This was attributed to the rising prevalence of chronic diseases, particularly in the throat, and the increasing empha...