Endoscopy Device Market Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027 | Accellent, Aesculap, Arthrex Inco, Boston Scientific Corporation

Endoscopy is a minimally invasive medical device used to view an internal organ or even a tiny tissue at a time, without causing damage to the organ. Endoscopes have been used for imaging since the 1970s, but their scope has widened greatly since then. Endoscopy is the detection and localization of small growths that may be cancerous. These small growths are injected with an anesthetic and they are viewed with an endoscope camera that has a thin optical lens attached.

Endoscopy applications have been applied to many surgical procedures over the years. Endoscopy has been used to detect and treat Crohn's disease, oral cavities, ear infections, ovarian and colon cancers, and more. The scope of endoscopy devices has been further segmented by area of application, and location. Endoscopy is less invasive than many of today's major surgeries and has a shorter recovery time for patients. Endoscopy is not covered by most insurance plans, and the use of specialized endoscopes for non-life-threatening diseases is considered unnecessary and even risky.

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The rising prevalence of gastrointestinal diseases in the world is the main factor that is driving the growth of the global endoscopy device market. For instance, according to National Center for Biotechnology Information, around 6 to 60 billion cases of gastrointestinal diseases are diagnosed every year. Moreover, the key market players are focusing on launching new products and services in the market in order to fight this rising incidence of gastrointestinal diseases, which is enhancing the growth of the global endoscopy device market.
Endoscopy can be executed for various reasons.

The most common reason for endoscopy, however, is the detection and diagnosis of abnormal growths, diseases, and tumors in the upper digestive system and throat. In this process, endoscopy tools are inserted into the mouth and nose to view the structure and location of these organs; in addition, x-rays are also performed during the same time so that the doctor can identify whether or not the patient has swallowed some materials that have been ingested.

However, the cost of endoscopy device is the main restraining factor that is hindering the growth of the global endoscopy device market.
Owing to the rising cases of gastrointestinal diseases in the region, North America is experiencing high demand in the global endoscopy device market. For instance, according to the GI Alliance, around 62 million US residents are diagnosed with some of the other kinds of digestive disorders.

The rate and prevalence of these digestive diseases grow with age. Moreover, the presence of key market players in the region is aiding the growth of the market. Owing to such factors, there have been several industrial developments in the global endoscopy device market. For instance, in June 2020, U.S. Food and Drug Administration approved the NaviCam Magnetically Controlled Capsule Endoscopy System made by AnX Robotica Corporation.

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