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.
Endoscopy Devices Market
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 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.