Technological Changes in Modern Healthcare Facilities Hit the Global Endoscopy Devices Market to Reach reach $40,854 million by 2022

Rise in prevalence of diseases that require endoscopy procedures such as cancers and gastrointestinal diseases is one of the prime reasons that drives the growth of endoscopy devices market. In addition, growth in baby boomer generation with high risk of targeted diseases, rise in awareness about novel endoscopy devices, and patient preference for the minimally invasive nature of endoscopy devices propel the market growth.

Modern endoscopy techniques have revolutionized the examination and treatment of upper gastrointestinal tract (including esophagus, stomach, and duodenum) and the colon. Increase in adoption of innovative endoscopy devices such as capsule endoscopes and robot-assisted endoscopy along with ultra-high-definition visualization systems further augments the market growth.

Endoscopy Devices Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $40,854 million by 2022 from $27,273 million in 2015, registering a CAGR of 5.7% during the period 2016 to 2022. The flexible endoscopes are expected to dominate the global endoscopy devices market. North America is projected to continue its lead, accounting for more than one-third share of the global endoscopy devices market in 2015.

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The laparoscopic interventions is anticipated to generate the highest revenue of $9,350 million, whereas the gastrointestinal endoscopy interventions is expected to grow at the fastest rate of 6.8% during the analysis period, owing to its increase in need, as the surge in geriatric population is directly proportionate to the rise in number of diseases related to the GI tract.

Flexible endoscopes dominated the endoscopy devices market, accounting for over three-fourth oftotal share in 2015, owing to their ability to reach viscera and cavities not visible to the naked eye and where the rigid endoscopy fails to examine. Diversified use of flexible endoscopy devices in the diagnosis and treatment of various diseases such as gallbladder disease with lower risk, followed by rapid recovery along with minimal post-surgical complications favored its growth in the laparoscopy market. Among other products, the endoscopy cameras hold more than one-fifth of the total stake in the endoscopy visualization and documentation systems. This is attributed to the fact that cameras, being an integral component of the endoscopy system, are continuously evolving, and currently cameras offering ultra-high-definition resolution and clarity are being employed to capture the meticulous detail of the visceral organs during surgery.

North America accounted for the major share in the endoscopy devices market in2015, and is expected to maintain this trend throughout the forecast period. This is due to the rise in prevalence of chronic diseases coupled with increase in geriatric population, high adoption rate of technologically advanced endoscopy devices, and high awareness regarding the benefits of endoscopy interventions. In addition,presence of highly sophisticated healthcare infrastructure, rise in measures for preventive healthcare, and favorable reimbursement scenario propelled the market growth. However, Asia-Pacific is anticipated to grow rapidly attributed to the presence of ample growth opportunities in terms of unmet medical needs for the diagnosis of life-threatening illnesses such as cancer in this region and questfor improved quality of life in emerging countries.

Top Key Players :

• Olympus Corporation
• HOYA Corporation
• Fujifilm Holdings Corporation
• Boston Scientific Corporation
• CONMED Corporation
• Stryker Corporation
• Smith & Nephew Plc
• Medtronic Plc
• KARL STORZ GmbH & Co. KG
• Johnson & Johnson.

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