Endoscopy Device Market-Overview

Increasing prevalence of gastrointestinal diseases, and growing demand for technologically advanced devices fuel the growth of the market. Gastrointestinal diseases such as acid reflux, stomach ulcers etc. has been rising at an extremely rapid rate. According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) about 30 to 40 % of people in the United States get an H. pylori infection which is the cause of peptic ulcers. According to World Health Organization (WHO), worldwide more than 1.9 billion adults were overweight in 2014 and out of these, around 600 million were obese and at a high risk of developing gastrointestinal diseases. In the United States, the annual spending on GI diseases is estimated to be nearly USD 140 billion.

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Key players in the Endoscopy Device Market: Johnson & Johnson Services Inc., KARL STORZ Gmbh & Co. KG, Boston Scientific Corporation, FUJIFILM, PENTAX MEDICAL, and RICHARD WOLF are the key players in the global endoscopy market.

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North America dominates the Americas Endoscopy Device market. North America is further segmented into the U.S. and Canada. The U.S. holds the major share of the market owing to a well-developed economy and the government support for research & development. South America is still a developing region in terms of the infrastructure and technology. Additionally, the market is driven by an increasing prevalence of gastrointestinal diseases such as gastritis and dysphagia. Furthermore, there is a rise in the number of endoscopies performed in the hospitals and diagnostic centres, thereby increasing the demand for gastroscopies.

Europe is the second largest market driven by the extensive use of diagnostic medical devices including gastroscopies, bronchoscopes, and others, and rising healthcare funding to research and development activities. According to the United European Gastrology report, in 2012, there were 34,534 new cases of oesophageal cancer recorded in the European Union (EU).
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