Endoscopy Market to Witness A Phenomenal Growth| Prominent Players: Boston Scientific, CONMED Corporation, BKK B. Braun Melsungen AG, Stryker

The Endoscopy Market is set to exceed USD 40 billion by 2024; according to a new research report by Global Market Insights. Endoscopes accounted for largest revenue share in 2017 due to rising prevalence of chronic conditions such as cancer and gastrointestinal ailments coupled with technological advancements in endoscope enabling minimally invasive endoscopic surgery. Minimally invasive procedure offers several benefits including reduced hospital stays, less blood loss due to smaller incisions, lower risk of long-term surgical scars, faster recovery and higher patient outcomes, thus fueling endoscopy market growth.

Arthroscopy is another application arena that has been gaining renewed prominence in the endoscopy market of late. The growing concern among the specialists about the disadvantages of a traditional approach to diagnosing femoroacetabular impingement, labral tears, and other issues related to hip joints has been encouraging them to innovate next-gen instruments. Recognizing the significance of educating research scholars about the effective treatment of hip impingements, many U.S.-based medical centers and universities have included hip arthroscopy in their syllabus.

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Growing geriatric population has influenced industry growth positively. American geriatric population was around 46 million in 2016 and is estimated to reach 98 million by 2060. The drastic increase in elderly population will have significant impact on the endoscopy industry growth.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Boston Scientific
• CONMED Corporation
• BKK B. Braun Melsungen AG
• Stryker
• Smith & Nephew
• Olympus Corporation of the Americas
• KARL STORZ Endoscopy-America, Inc.
• Medtronic
• Ethicon, Inc.
• Cook Medical Technologies LLC
• Hoya Corporation Richard Wolf GmbH

Rising incidences of gastrointestinal disorders will act as major driver for the growth of endoscopy market. Irritable Bowel Syndrome (IBS) is one of the most frequently diagnosed gastrointestinal disorder amongst the American population. In U.S., around 3.5 million people visit physician annually for IBS treatment thereby escalating demand for endoscopy procedures. GI disorders are highly prevalent in geriatric as well as the paediatric population escalating the overall demand for minimally invasive endoscopic procedures.

GI endoscopy segment held more than 40% industry share in 2017 and is anticipated to follow similar trend in upcoming years owing to increasing cases of ulcers. Gastrointestinal disorders require continuous monitoring and accurate diagnosis, that can be achieved by utilizing endoscopy devices will drive segment growth. Moreover, water related infections highly prevalent in Asia Pacific leading to increasing incidences of gastrointestinal disorders will boost Endoscopy Market growth.

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Validating the aforementioned fact, few days before, the Thailand based medical facility provider, Samitivej Hospital signed a deal with Sano Hospital, a Japanese healthcare facility specializing in endoscopy. Sano is renowned for its development of gastrointestinal endoscopy techniques, which could be extensively used for detecting cancerous tissues. Through this partnership, the two parties have introduced new gastrointestinal endoscopy techniques that can help in the removal early-stage tissues of esophageal, colorectal, and gastric cancers. As per statistics, colon cancer is one of the leading causes of deaths across the world. Reportedly, cases of colon cancer have been increasing from last few years and it has become a most influencing factor for the rise of mortality rate across Thailand.

Global Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.

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