Endoscopy Devices Market Demands, Industry Size, Supply, Sales and Manufacturers Future Outlook

Endoscopy Devices Market Outlook 2028

The global endoscopy devices market was valued at US$ 31.8 Bn in 2020

It is estimated to expand at a CAGR of 3.8% from 2021 to 2028

The global endoscopy devices market is expected to cross the value of US$ 42.8 Bn by the end of 2028

Report Overview: https://www.transparencymarketresearch.com/endoscopy-devices-market.html

Impact of COVID-19 on Global Endoscopy Devices Market

The coronavirus pandemic has put intense pressure on the healthcare system across the globe due to shortage of hospital beds, medical staff, necessary medical devices, and surgical equipment. Considering risk and safety of patients, non-emergency surgeries have been cancelled or postponed due to rising cases of coronavirus. This factor has negatively affected the global endoscopy devices market.

There is an increasing demand for endoscopic devices for the treatment and diagnosis of neurodegenerative, infectious, immune, metabolic, and cardiovascular diseases. This factor is expected to offer revenue benefits for the device manufacturers across the globe.

After the booming vaccination drives across the globe, the market is recovering from the losses caused due to the COVID-19 pandemic. Manufacturers operating in the global endoscopy devices are focusing on product innovations due to increasing demand at the global level. In addition, endoscopic devices are widely utilized in diagnostic and operative procedures.

Increasing Adoption of Minimally Invasive Procedures Drives Market

Minimal invasive procedures are gaining popularity due to their simplicity, reliability, and efficiency. Minimally invasive procedures are relatively cost-effective than any other traditional surgical procedures. Increasing geriatric population, rising number of surgeries, and growing investments in developing healthcare infrastructure are some of the factors contributing to the global endoscopy market growth.

Endoscopy procedures are minimally invasive, performed by inserting a rod shaped instrument into the area of surgery by making through small incisions in the body. Endoscopic devices are specifically designed for performing complex urological surgeries, gastrointestinal surgeries, ENT, cardiovascular, and joint surgeries. These minimally invasive procedures ensure quick recovery and little chances of infection. This factor is driving the demand for different endoscopy devices.

Moreover, increasing applications of endoscopic devices in oncology is accelerating the market growth. The rising adoption of minimally invasive procedures in patients drives the global endoscopy market growth.

Technological Advancements in Endoscopic Devices Boost Market Growth

The increasing adoption of medical imaging devices due to rising surgical procedures and technological innovations in medical imaging devices. The emergence of artificial intelligence in endoscopic procedures have created beneficial opportunities for device manufacturers. In addition, minimally invasive diagnostic and surgical procedures performed with the help of innovative robotic technology offers various benefits to the patients. The increasing adoption of robotic-assisted endoscopic procedures is anticipated to boost market growth. Manufacturers operating in the global endoscopy devices markets are increasing their production portfolio to fulfill the demand from the healthcare sector. The growth and advancement in the field of medical devices boost the endoscopy devices market.

Request Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=225

North America Offers Lucrative Growth Opportunities for Manufacturers

North America shows lucrative growth opportunities in the endoscopy devices market due to the increasing number of surgical procedures, growing geriatric population, and advancement in healthcare and medical devices. Improvement in healthcare facilities and increasing investments in research and development activities in the endoscopic devices in the region are boosting the market growth. In addition, increasing awareness and promotional activities by governments about the pain-free minimally invasive surgical procedures creates revenue streams for manufacturers operating in the North America endoscopy devices market. North America market is also driven by factors such as favorable reimbursement policies for endoscopic procedures, rise in prevalence of cancer, increase in investments by hospitals on innovative endoscopic instruments. Market players in the North America endoscopy devices market are focusing on various strategies to strengthen their position in the global market. However, high cost of advanced endoscopy devices is a factor affecting the growth of the market in North America.

Endoscopy Devices Market: Overview

According to Transparency Market Research's latest report on the global endoscopy devices market for the historical period 2017-2020 and forecast period 2021-2028, technological innovations offering wider scope of application for endoscopy are projected to drive the global endoscopy devices market during the forecast period

Technological Innovations Offering Wider Scope of Application for Endoscopy: Key Driver

Technological innovations in medical imaging devices have increased the scope of medical devices, and thereby the customer base. Robotic-assisted endoscopic procedures have created a paradigm shift in the endoscopic devices market. Moreover, a minimally invasive diagnostic and surgical procedure performed by robotic technology offers benefits such as less blood loss, less scarring, reduced risk of infection, and faster return to your life. Hence, robotic-assisted endoscopic procedures is anticipated to boost market growth.

Development of chromoendoscopy has added another dimension to the evolving endoscopy market. Three dimensional (3D) camera systems have improved the depth perception and reduced errors during surgery, which has reduced the overall surgery time.

Enquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=225

FDA Policies Moving toward Easier Approval Process: Major Driver

The U.S. FDA has been criticized for its long and arduous approval process. However, the regulatory agency has been taking constructive steps in order to ease process time. In a major development, the FDA has classified colon capsule imaging devices as Class II devices. This implies that capsule endoscope manufacturing companies will not have to go through lengthy clinical trials and other pre-market approval requirements.

This would shorten the regulatory approval process and save on resources to get approval. This event is expected to drive the global endoscopy devices market, cost of the devices, and the number of procedures. It also implies that reimbursement could become easier due to lesser risk of side effects.

High Cost Makes Devices Unaffordable to Developing Countries: Key Restraint

Endoscopic devices require highly sophisticated technology and significant expertise in manufacturing and adding technological advancements. These factors increase the overall cost of endoscopic devices and accessories. In emerging and developing countries such as India and China, a small percent of GDP is spent on healthcare. It is much lower in countries such as Indonesia and Malaysia.

On the other hand, the U.S. is estimated to spend high percent of GDP on healthcare related expenses. This ineffectual ability of emerging and developing economies toward healthcare facilities acts as a major restraint of the endoscopic devices market.

Endoscopy Devices Market: Competition Landscape

This report profiles major players in the global endoscopy devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments

The global endoscopy devices market is highly fragmented, with the presence of a number of international as well as regional players

Leading players operating in the global endoscopy devices market are

Ethicon Endo-Surgery

Covidien plc

Olympus Corporation

Boston Scientific Corporation

Intuitive Surgical, Inc.

Stryker Corporation

Richard Wolf

FUJIFILM Holdings Corporation

KARL STORZ GmbH & Co. KG

HOYA Corporation

B. Braun Melsungen AG

Arthrex, Inc.

Cook Medical, Inc.

Smith & Nephew plc, among others

Request Customization: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=225

More Trending Reports of Transparency Market Research:
Pharmaceutical Contract Sales Outsourcing (CSO) Market: https://www.transparencymarketresearch.com/europe-pharmaceutical-contract-sales-outsourcing-cso-market.html

Healthcare Biometrics for Children Market: https://www.transparencymarketresearch.com/healthcare-biometrics-for-children-market.html

Robotic Rehabilitation and Assistive Technologies Market: https://www.transparencymarketresearch.com/robotic-rehabilitation-assistive-technologies-market.html
IBD (Ulcerative Colitis and Crohn's Disease)

Treatment Market: https://www.transparencymarketresearch.com/inflammatory-bowel-disease.html

Diagnostic Reagents Market: https://www.transparencymarketresearch.com/diagnostic-reagents-market.html

Thoracic Drainage Devices Market: https://www.transparencymarketresearch.com/thoracic-drainage-devices-market.html

Cell Separation Technologies Market: https://www.transparencymarketresearch.com/cell-separation-technologies.html

Personal Mobility Devices Market: https://www.transparencymarketresearch.com/personal-mobility-devices-market.html

Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com

About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

This release was published on openPR.