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France Endoscopy Devices Market to Register Strong Growth at CAGR 6.5% by 2023 - BOSTON SCIENTIFIC CORPORATION, CONMED CORPORATION, COOK MEDICAL, COVIDIEN, HOYA CORPORATION

11-02-2018 08:39 PM CET | Health & Medicine

Press release from: Market Prognosis

Global France Endoscopy Devices Market Highlights
The France endoscopy devices market is expected to register a CAGR of 6.5%, during the forecast period. Endoscope devices are minimally invasive and can be inserted into natural openings of the body to observe an internal organ or a tissue in detail. Endoscopic surgeries are performed for imaging procedures and minor surgeries.

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Growing Preference for Minimally Invasive Techniques
Endoscopy allows both operations on more fragile patients, notably the elderly, and the treatment of more complex diseases, such as cancer. Other benefits of endoscopy include reduced post-operative pain and risks of complications, rapid healing, lighter anesthesia and a shorter period of hospital stay. Surgery, interventional radiology, and advanced endoscopy have all developed minimally invasive techniques to effectively treat a variety of diseases to bring about positive impact on patients' postoperative outcomes. The growing awareness among the elderly population about minimally invasive procedures and the rising prevalence of chronic diseases worldwide boosts the demand for endoscopy devices.

Key Developments in the Market
May 2017 - Crospon, an endoscopic diagnostics company announced it has received US Food and Drug Administration (FDA) 510(k) clearance for its Endoflipu00ae System with Flipu00ae Topography Module

Major players –
BOSTON SCIENTIFIC CORPORATION, CONMED CORPORATION, COOK MEDICAL, COVIDIEN PLC, FUJIFILM HOLDING CORPORATION, HOYA CORPORATION, ETHICON ENDO-SURGERY (JOHNSON & JOHNSON), MEDTRONIC PLC, AND OLYMPUS CORPORATION, amongst others.

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High Costs of Endoscopy Devices
The prices of endoscopes are forever on rise to maintain pace with technological advances. Added sophistications accentuate the price of this equipment. The relatively high-cost of endoscopes results in lesser purchases of the equipment. At its current price, the endoscopic treatment option is not cost-effective in France. Decrease in the reimbursement of endoscopic procedures hinders the profitability, and hence, leads to reduction in volumes of endoscopes and patients’ preference for such equipment. Germany follows a costing system, especially for hospitals, where, the costing for endoscopy depends on the standard overall weight for each procedure and use of relative value units in endoscopy. Additionally, reprocessing of endoscopes requires labor-intensive manual cleaning, followed by Automated Endoscope Reprocessor (AER) disinfection. The cost of consumable supplies required for endoscope processing and reprocessor maintenance is valued around USD 8.31 per scope and labor cost at USD 11.88 per scope. Although, the cost of consumable supplies is slightly higher, it is more efficient. This, along with other factors, like infections acquired from unsterilized endoscopes and lack of skilled technicians are likely to lead to the slowdown in the growth of the market.

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