IQ4I Research published a new report on Endoscopy Devices Global Market – Forecast To 2025

Endoscopy is a procedure used to visualize internal organs or structures for the diagnosis and treatment of various conditions or abnormalities that are otherwise difficult to detect and treat. This technique involves the use of a specialized instrument called endoscope which is a long flexible tube that is attached to a light source and camera and inserted through a small incision made near the surgical site, or natural openings of the body such as mouth or anus to facilitate the visualization of the organ. Endoscopy is used to evaluate reasons for the cause of bleeding, pain and swelling of a particular organ, to remove tumors, abnormal growths and to retrieve tissue samples for the purpose of biopsy, cancer screening & staging.

According to IQ4I estimation, the endoscopy devices global market is expected to grow at a CAGR of 5.4% to reach $46,660.0 million by 2025. Factors such as increasing demand for minimally invasive surgical procedures leading to fast recovery and reduced hospital stays, technological innovations offering a wider scope of applications for endoscopy, the rise in obese population preferring bariatric surgery for weight reduction are the factors driving the market growth. The increasing trend for high-resolution technologies such as 3D systems, capsule endoscopy and miniaturized endoscopic systems, market expansion opportunities in emerging nations and the emergence of single-use devices are expected to offer potential opportunities.

However, there are various factors like lack of skilled professionals to handle the endoscopic procedures and reprocessing techniques, expensive endoscopic procedures and risk of infections associated with endoscopic procedures limit the growth of endoscopy devices global market. The threats to the endoscopy market include the emergence of alternate technologies, and stringent regulatory bodies guiding endoscopy device manufacturers.

Use of flexible endoscopes and single-use endoscopes in almost all the application areas and capsule endoscopes for lower gastrointestinal tract screening is the trend of this market. The emergence of ultrathin endoscopes as thin as hair strands, tadpole endoscopes for early diagnosis are some of the upcoming technologies in the field of endoscopy.

The endoscopy market is mainly segmented based on applications, products, end-users and geography. The endoscopy devices global market by application is classified into gastrointestinal, arthroscopy, laparoscopy, gynecology/obstetrics, pulmonary, neurology, urology, ENT, and others. In 2018, laparoscopy commanded the highest share and is expected to be the fastest growing segment. Based on products the market is segmented into endoscopes, endoscopic instrument, and endoscopic accessories. Among products, endoscopes generated the largest revenue in 2018 and instruments market is expected to grow at the strong CAGR from 2018 to 2025. End-users include hospitals, ambulatory surgical centers, diagnostic laboratories and academic and research laboratories. Hospitals segment commanded the largest share and are projected to be the fastest-growing segment.
Based on geography, endoscopy market is divided into North America, Europe, Asia-Pacific and Rest of the world. The North America region commanded the largest market revenue in 2018. Favorable reimbursement and high demand for minimally invasive procedures are driving the market. However, the Asia-pacific region is expected to grow at the strong CAGR during the forecast period due to, increased healthcare awareness, economic growth and increasing healthcare funding by the governments. New Product launches, acquisitions, and mergers, collaborations, joint ventures are some of the industry trends that are playing a major role in market growth.

Technological advancements such as adoption of Near Infrared Radiation technology (NIR), Flexible Spectral imaging color enhancement (FICE), I-Scan technology, Confocal Laser Endomicroscopy (CLE), and Computer-Aided Detection systems are enhancing the diagnostic and therapeutic use of endoscopy. The CLE technology is being developed Mauna Kea Technologies (France) which combines the microscopy and endoscopy technology to produce images (optical biopsies), which eliminates the need of tissue biopsies and aids in immediate informed decision making. Companies such as Johnson & Johnson, Olympus Corporation, Medtronic PLC, Boston Scientific Corporation, Stryker, Fujifilm Holdings Corporation and Smith & Nephew PLC with number of product offering and strong pipeline are ahead of other companies and are considered to be leaders in the market.

Major players in endoscopy market include, Johnson & Johnson (U.S.), Olympus Corporation (Japan), Medtronic plc (Ireland.), Arthrex (U.S.), Boston Scientific Corporation (U.S.), Stryker Corporation (U.S.), Smith & Nephew (U.K.), Karl Storz (Germany), Hoya Corporation (Japan), Fujifilm Holdings Corporation (Japan), and B. Braun Melsungen AG (Germany), Richard Wolf GmbH (Germany), Cook Medical (U.S.), Intuitive Surgical, Inc. (U.S.), ConMed Corporation (U.S.), WiSAP Medical Technology (Germany), Endo-Technik (Germany).

IQ4I (Intelligence Quotient for Innovation) Research and Consultancy Pvt. Ltd. is a global strategy, consulting and a leading market research company. Our clients include leading businesses, investment banks, researchers and government agencies.

We are a team of highly qualified consultants and market researchers, committed to help clients make strategic decisions by providing relevant and firmly reliable market intelligence support. We enable our clients to identify the market opportunities with best-in-class market intelligence reports.

With world-class research capabilities, we deliver high-level strategically analyzed consulting and custom research assignments to our clients at a reasonable cost and time frame. With fact-based insights and accurate market forecasts, we enable our clients to understand and respond to the market dynamics with an edge over their competitors.

IQ4I Research & Consultancy Pvt. Ltd.
No 41/P4, Industrial Suburb
1st Floor, 3rd Main Road
1st Phase, KIADB Industrial Area
Peenya, Bangalore-560058
Phone: +91-8147030229

This release was published on openPR.