Global Endoscopy Equipment Market: Snapshot

Endoscopy is conducted to examine ulcers, abdominal pain, digestive tract bleeding, and abnormal growths in the colon and other abdominal & gastrointestinal conditions. It supports the minimally invasiveness of this procedures with less amount of post operation complications in the surgical procedures in post-surgery treatment.

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The high demand for the flexible endoscopes is accounting for the dominating share in the global endoscopy devices market, and is expected to continue its dominance over the forecast period. This growth is attributable to the diverse application of these endoscopes to diagnose and treat different diseases and increased adoption of flexible endoscopes in healthcare settings.

Surge in incidences of cancer and gastrointestinal diseases among other chronic diseases globally, owing to the growing in geriatric population, changes in demographics & lifestyle, and obesity are the major factors fuelling growth of the endoscopy devices market. Furthermore, technological advancement in visualization, surgical endoscopic treatments, and diagnosis; coupled with increase in awareness of endoscopic technologies and its advantages among the patients and medical professionals stimulate the demand for endoscopic devices. Thus, these factors are boosting the growth of the market.

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According to the TMR, the global endoscopy equipment market was valued at US$27.5 bn in 2017 and is expected to decline with 4% CAGR over the forecast period from 2017 to 2025 to reach a value of US$33.5 bn by the end of forecast period.

Growing endoscopes segment to Boost Market Growth

The global endoscopy equipment market is segmented by product type into endoscopes, visualization systems, operative devices, and others. Of these, endoscopes are likely to remain dominant over the forecast period to the global endoscopy equipment market owing to their predominant use in endoscopy applications. The segment is likely to rise from US$14.6 bn to US$17.8 bn over the forecast period, by expanding a robust CAGR of 4.1%.

Based on the application, the global endoscopy equipment market is segmented into gastroenterology, respiratory tract, otorhinolaryngology, orthopedics, pulmonology, gynecology and urology, and others. Of these, gastroenterology segment is expected to be dominant contributor to the global endoscopy equipment market in some upcoming years due to growing prevalence of gastric problems in developed economies and widespread application of endoscopy equipment for diagnosis and treatment of gastroenterological disorders.

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High Demand from North America to Remain Dominant

On the basis of region, the global endoscopy equipment market is segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Of these, North America is dominating the global endoscopy equipment market and continue its dominance over the forecast period, with rising from US$9.9 bn to US$12.3 bn over the forecast period of 2017-2022. The market is likely to expand with strong CAGR of 4.2% over the aforementioned forecast period.

Some of the key players operating in the endoscopy equipment market are Arthrex Inc., Stryker Corporation, B. Braun Melsungen AG, Boston Scientific Corporation, and Olympus Corporation. The endoscopy equipment market is extremely competitive owing to numerous players operating in the market. In order to gain a competitive edge, these manufacturers are increasingly launching advanced products and research and development activities.

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