COVID-19 impact analysis on Endoscope Market. Insights on strategies of key players - Boston Scientific, Smith & Nephew, Medtronic, FUJIFILM Holdings Corporation, CONMED Corporation, Hoya, Maxer Endoscopy

From valuing $18.9 billion in 2018, the global endoscope market is predicted to reach $28.4 billion by 2024, advancing at a 7.2% CAGR during the forecast period (2019-2024). The major driving factors of the market are the technological advancements, rising geriatric population, and growing burden of chronic diseases. Endoscopy is the process of examination of the internal body parts for the diagnosis and treatment of diseases. The instrument used is known as an endoscope, which is made of a flexible, thin tube with a camera and a light source mounted at the top.

Global Endoscope Market Key Players are:
1- Boston Scientific
2- Smith & Nephew
3- Medtronic
4- FUJIFILM Holdings Corporation
5- CONMED Corporation
6- Hoya
7- Maxer Endoscopy

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Based on type, the endoscope market is categorized into colposcope, laparoscope, laryngoscope, cystoscope, bronchoscope, colonoscope, arthroscope, and esophagoscope. Among all, during the historical period (2014-2018), the highest revenue in the market was generated by the esophagoscope category. This was attributed to the rising prevalence of chronic diseases, particularly in the throat, and the increasing emphasis on the diagnosis of diseases for early treatment, if possible, preventing the spread of the disease altogether. The fastest growth in the forecast period is expected to be witnessed by the colonoscope category.

The manufacturers in the endoscope market are trying to increase their revenue by cutting down on the manufacturing cost of the instrument. They are doing that by relocating their manufacturing facilities to emerging economies, such as China and India, where the material and labor are available at significantly lower prices than developed countries. Further, to boost the economy of their countries, governments here offer incentives and subsidies to these companies for setting up their manufacturing plants. This is expected to drive the demand for advanced endoscopes, by motivating manufacturers to invest in technology R&D.

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Market Segmentation by Type
o Esophagoscope
o Arthroscope
o Colonoscope
o Bronchoscope
o Cystoscope
o Laryngoscope
o Laparoscope
o Colposcope
o Others
Market Segmentation by Application
o Gastroenterology
o Orthopedic
o Pulmonology
o Urology
o Gynecology
o Others
Market Segmentation by End User
o Hospitals
o Specialty Clinics
o Diagnostic Centers
o Others

This study covers

o Historical and the present size of the endoscope market
o Major factors driving the market and their impact during the short, medium, and long terms
o Market restraints and their impact during the short, medium, and long terms
o Recent trends and evolving opportunities for the market participants
o Major players operating in the endoscope market and their service offerings
o Recent strategic developments by the major players in the market

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