What are Major Factors Driving Growth of Endoscope Market?

Factors such as the growing incidence of chronic diseases, rising technological advancements, and booming geriatric population will accelerate the endoscope market at 7.2% CAGR during the forecast period (2019–2024). According to P&S Intelligence, the market is projected to generate $28.4 billion revenue by 2024. In recent years, the soaring number of product launches has become a prominent market trend, as advanced products play a vital role in the effective diagnosis and treatment of peptic ulcer disease (PUD), chronic gastrointestinal bleeding, muscle spasms, colon cancer, and ulcerative colitis.

Request to Get the Sample Pages at:https://www.psmarketresearch.com/market-analysis/endoscope-market/report-sample

At present, the endoscope market is fragmented in nature, due to the presence of a large number of market players. Some of the leading companies in the market include KARL STORZ SE & Co. KG, Boston Scientific Corporation, FUJIFILM Holdings Corporation, Smith & Nephew PLC, Olympus Corporation, Stryker Corporation, CONMED Corporation, Medtronic PLC, GI Supply Inc., HOYA Corporation, Maxer Endoscopy GmbH, CANTEL Medical Corp., and Smart Medical Systems Ltd. These players are focusing on mergers and acquisitions and product launches to gain a competitive edge.

Geographically, North America will account for the largest share in the endoscope market throughout the forecast period, due to the presence of major market players, rapid technological advancements, presence of a large number of hospitals, and existence of improved healthcare infrastructure in the region. Moreover, the surging incidence of chronic diseases and booming elderly population will also contribute to the regional market growth in the coming years. The U.S. is expected to contribute higher revenue to the regional market, due to the soaring cases of gastrointestinal and respiratory diseases and the mounting number of hospitals in the country.

Therefore, the rising incidence of chronic illnesses and increasing product launches will catalyze the market growth in the foreseeable future.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com

This release was published on openPR.