The global Endoscopy Devices market accounted for USD 33,342.3 Million in 2020 and is expected to reach USD 54,974.9 Billion by 2028, growing at a CAGR of 6.5% from 2021 to 2028.
The Global Endoscopy Devices market accounted for USD 33,342.3 Million in 2020 and is expected to reach USD 54,974.9 Million by 2028, growing at a CAGR of around 6.5 % between 2021 and 2028.
Endoscopy is the enclosure of an elongated, shrill tube directly into the body to perceive a core organ or nerve in aspect. The Endoscopy device is also used in other major surgeries. Endoscopes are nominally offensive and can be injected into the openings of the body such as mouth. Endoscopy is beneficial for examining many structures within the human body, for instance Gastro intestinal tract, Respiratory tract, Ear, Urinary tract and Female reproductive tract.
The players in the industry are focusing aggressively on innovation, as well as on including advanced devices technologies. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the Endoscopy Devices market study.
COVID-19 Impact Analysis:
The restrictions imposed by various nations to contain COVID had stopped the demand and supply resulting in a disruption across the whole supply chain. However, the global markets are slowly opening to their full potential and theirs a surge in demand. The market would remain bullish in upcoming year. The significant decrease in the Global Endoscopy Devices market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.
The major boosters of the Endoscopy Devices market are increasing adoption of technologically advanced devices such as capsule endoscopes with ultra-high definition visualization. The number of yearly GI (gastrointestinal) surgeries is continually increasing due to the rise in the general population. This, in turn, boosts the endoscopy devices market. In addition to this, the increasing occurrence of digestive disorders impacting all types of the population as well as the extending therapeutic abilities of the devices is set to bolster the endoscopy devices market. Some of the major GI disorders boosting the procedural volume in the endoscopy devices market are digestive cancer, gastro-esophageal reflux disorder (reflux or GERD), dyspepsia, gastroenteritis, and gallstones. The prevalence of these conditions is noteworthy and ever expanding, boosting the endoscopy devices market.
Segment Analysis Preview
Endoscopy Devices market is divided into application, Product, and region. Product is bifurcated into Endoscope, Operative Devices and Visualization System. Endoscope market is subjected to grow on account of rising frequency of ailments requiring endoscopic analysis. Moreover, the rising demand for endoscope is because of cost effectiveness, safety and efficacy.
By Application the market is segmented into Gastrointestinal Surgeries, Urology/Gynecology Surgeries, ENT Surgeries, Cardiovascular Surgeries, Neuro/Spinal Surgeries, Laparoscopy Surgeries, Arthroscopy Surgeries, and others. The Gastrointestinal Surgeries is anticipated to grow on account of increasing geriatric population, rising number of colonoscopy in developed nations and improvisation of healthcare facilities in developing countries.
Key Market Players & Competitive Landscape
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global air quality control system market are CONMED Corporation., Olympus Corporation., Fujifilm Holding Corporation, Boston Scientific Corporation, Inc., Karl Storz Endoscopy, Pentax Medical Corporation., Cook Medical, Inc., Stryker Corporation, Covidien PLC., Smith & Nephew plc L,.
The Global Endoscopy Devices Market is segmented as follows:
This report is based on in-depth qualitative and quantitative analyses of the global Endoscopy Devices market. Zion Research has collected and analyzed key data belong to the global Endoscopy Devices market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Endoscopy Devices across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Endoscopy Devices industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Endoscopy Devices market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Endoscopy involves insertion of a thin, long tube into the body in order to observe internal organs or tissue in detail. It can also be used to carry out other tasks including imaging and minor surgery. Endoscopes are minimally invasive and can be inserted into the natural body openings body including anus or mouth. On the other hand, it can be inserted into small incisions, for example in the knee. This is referred to as an arthroscopy. Surgery which is completed via a small incision and assisted with special instruments like the endoscopes is known as keyhole surgery.
Different operative devices in the endoscopy include energy systems, access devices, suction/irrigation systems, operative hand instruments and others. Visualization systems comprise of HD systems and standard definition (SD) systems, ultrasound devices and others. With the increase in the number of minimally invasive procedures, the demand for endoscopy devices is expected to increase in the next few years. Three main types of endoscopy devices involved in the endoscopy procedure include an endoscope, operative devices, and visualization systems.
Rising popularity of minimally invasive procedures and escalating prevalence of disorders which needs endoscopic procedures encourage the demand for endoscopy devices. However, lack of skilled professionals is also a major concern for the endoscopy market growth. Thus infections acquired from unsterilized endoscopes and lack of skilled technicians is the major challenge faced by this market.
Different application areas of endoscopy devices include gastrointestinal surgeries, urology/gynecology surgeries, cardiovascular surgeries, ENT surgeries, neuro/spinal surgeries, laparoscopy surgeries, arthroscopy surgeries and others. Laparoscopy segment dominated the global endoscopy devices market and accounted for 22.91% share of the overall market in 2015.
Device type segment of endoscopy device market includes endoscopes, visualization systems, and operative devices. Endoscope segment dominated the overall market with 38.41% share in 2015. The number of annual GI procedures is continuing to grow on the back of the increases in general population, the growing prevalence of digestive disorders affecting all segments of the population, as well as the expanding therapeutic capabilities of the devices. Some of the key gastrointestinal (GI) disorders driving the procedural volume in this market are gastro-esophageal reflux disorder (also known as GERD or reflux), digestive cancer, gastroenteritis, dyspepsia, and gallstones. The prevalence of these conditions is significant and ever expanding
North America prevails over other regions owing to the presence of well-equipped and superior financed healthcare institutions and hospitals, well informed and trained healthcare professionals. Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Ongoing developments of medical imaging devices, rising healthcare awareness and highest contribution towards burden of the majority of the diseases are expected to surge demand of endoscopy devices in this region.
Some of the major players operating in endoscopy devices market include CONMED Corporation, Olympus Corporation, Fujifilm Holding Corporation, Karl Storz Endoscopy, Boston Scientific Corporation, Pentax Medical Corporation, Cook Medical, Inc., Stryker Corporation, Covidien PLC, and Smith & Nephew plc L. among others.
The Global Endoscopy Devices Market was valued at USD 33,343.4 Million in 2020.
The Global Endoscopy Devices Market is expected to reach USD 54,974.9 Million by 2028, growing at a CAGR of 6.5% between 2021 to 2028.
Some of the key factors driving the Global Endoscopy Devices Market growth are Requirement For Endoscopy Devices Tech and fast Neuro/Spinal Surgeriesization in developing nations.
North America has been leading the worldwide Endoscopy Devices market and is anticipated to continue on the dominant position in the years to come, states the market study.
Some of the major players of Global Endoscopy Devices market includes CONMED Corporation., Olympus Corporation., Fujifilm Holding Corporation, Boston Scientific Corporation, Inc., Karl Storz Endoscopy, Pentax Medical Corporation., Cook Medical, Inc., Stryker Corporation, Covidien PLC., Smith & Nephew plc L.