Endoscopy Equipment and Software Market by Product [Endoscopes (Flexible, Rigid, Capsule), Visualization Systems, Electronic, Mechanical, Software, Accessories], Application (Diagnostics, Surgery), End User (Hospitals, Ambulatory Care, Diagnostic Centre) - Forecast to 2024.

Endoscopy is an imaging technology used for examination of interior organs or vessels of the body. This technology not only used to detect the damage but also helps in surgical or the rapeutic procedures. Factors such as growing geriatric population with increasing prevalence of gastrointestinal, cancers, and other chronic diseases, rising number of hospitals, and technological advancement related to endoscopy are driving this market.

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Risen No. of Hospitals in the Developing Countries propelled the Growth of Endoscopy Equipment and Software Market

In recent years, various government initiatives towards the development of healthcare facilities have led to increase in number of hospitals. For instance, in India, in Union Budget 2017-2018, the government decided to setup 2 new AIIMS hospitals in Jharkhand and Gujarat. Further, in April 2014, the country developed AYUSH infrastructure comprised of over 8 lacs registered practitioners; 25,492 dispensaries; and 3,601 hospitals. Moreover, the Chinese government is taking initiatives to shift the burden of care from public hospitals to private hospitals and owing to this, the number of private hospitals in China doubled to a total of 16,900 hospitals in just six years, from 2011-2017. This has presented high growth opportunities for endoscopy equipment suppliers in the private sector.

Endoscope to Dominate the Global Endoscopy Equipment and Software Market
Endoscopes commanded the largest market share of global endoscopy equipment and software market due to their advantages such as easy procedure, low cost, flexible nature, real-time monitoring, and low risk compared to surgeries. Moreover, growing preference to minimally invasive procedures and use of disposable or single-use endoscopes further help to increase the adoption of these equipment.

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Asia-Pacific: Fastest Growing Regional Market

North America commanded the largest market share of the global endoscopy equipment and software market in 2017, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. However, Asia-Pacific will be the fastest growing regional market due to accelerated economic growth of many countries in this region, and growing government focus on healthcare sector; In addition, government initiatives towards the development of healthcare facilities and increasing health insurance penetration further supports the growth of this region.

Key Players

The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 5 years (2014-2018). The market share analysis of key players along with the profile in the global endoscopy equipment and software market research study are Olympus Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Boston Scientific Corporation (U.S.), Fujifilm Holdings Corporation (Japan), Stryker Corporation (U.S.), Ethicon, Inc. (U.S.), Medtronic Plc (U.S.), HOYA Corporation (Japan), Smith & Nephew (the U.K.), B. Braun (Germany), JOHNSON & JOHNSON (U.S.), and CONMED Corporation (U.S.), among others.

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