Endotherapy Devices Market Trends, Top Manufactures, Industry Growth Analysis and Forecast 2030

The Global Endotherapy Devices Market size was valued at USD 3.84 Billion in 2019 and is predicted to reach USD 6.63 Billion by 2030 with a CAGR of 5.1% from 2020-2030.

Endotherapy is the therapeutic procedure that involves the application of endoscopy devices, which are either planted in the body via natural openings or through incisions, especially in case of arthroscopy. Endoscopy is done for diagnosis, prevention, and treatment of complications in the visceral organs. Endoscopy devices are widely used in cases of targeted diseases such as colon cancer and gastrointestinal disorders, through minimally invasive techniques to treat the patient. It is also performed post-surgeries in order to detect complications. Endotherapy is generally safe but may give rise to complications such as infection and bleeding.

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Competitive Landscape :

The Global Endotherapy Devices Market is highly competitive and consists of numerous market players. Some of the major market players are Hoya Corporation, Olympus Corporation, Stryker Corporation, Boston Scientific Corporation, Fujifilm Holdings Corporation, Conmed Corporation Medtronic Plc., Karl Storz GmbH & Co. KG, Smith & Nephew, Plc, and Johnson & Johnson., B. Braun Melsungen AG and others.

There have been various developments taking place in the market that further enhance the growth of endotherapy devices market at a large scale. For instance, In July 2020, Olympus, a worldwide innovation pioneer in planning and conveying creative answers for clinical and surgeries, reported the business accessibility of its 510(k) cleared EZ Clip Endotherapy gadget, a reloadable and rotatable hemostasis cut intended for drain control and deformity conclusion during GI endoscopy systems. Also, in Oct 2020, Olympus announced the 510(k)-market availability of two colonoscopes, the PCF-H190T and the PCF-HQ190. These give an increase to the current capacities for specialists to break down and treat issues of the gastrointestinal tract.

Market Dynamics and Trends:

Endotherapy devices market is primarily driven by increasing prevalence of diseases such as cancer and chronic pancreatitis that require minimally invasive medical procedures. Globally, lung cancer and breast cancer are the leading causes of death among men and women respectively. Additionally, rise in geriatric population, which is at high risk of such diseases is also estimated to drive the market growth. Moreover, other factors such as preference for minimally invasive treatments and technological advancements leading to ultrahigh-definition visualization systems are also expected to augment the market growth. However, lack of skilled physicians & endoscopists, high cost of devices and infections caused by a few endotherapy devices are factors that might hamper the endotherapy devices market growth.

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Market Segmentations and Scope of the Study:

The global Endotherapy devices market share has been analyzed based on product, application, end user and geography. Based on product, the market is categorized into GI devices & accessories, ERCP devices & accessories, and others. The GI devices & accessories segment is further classified into biopsy forceps, injection needles, polypectomy snares, graspers, hemoclips, and others. The ERCP devices & accessories segment is sub segmented into guide wire, sphincterotome, catheter, extraction basket, extraction balloon, balloon dilation, plastic stent, metal stents, and others. The other Endotherapy devices & accessories segment is subdivided into mouthpiece, distal end cap, polyp trap, cleaning brush, and others. Based on application, the market is segmented into bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuro-endoscopy, gastrointestinal endoscopy, and others. Based on end users, the Endotherapy devices market is categorized into hospitals, clinics, and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North America is estimated to hold the highest share in endotherapy devices market during the forecast period owing to its developed healthcare & research industry, growing geriatric population, rising inclination towards minimally invasive surgeries and presence of major key players in this region.

However, emerging economies such as the countries in Asia-Pacific region are also estimated to grow significantly due to rising investments, consistent upsurge in population and government support for the development of their healthcare industry.

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