Global Medical Videoscopes Market: Key Trends, Industry Opportunities and Forecast
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key players in the global medical videoscopes market: FUJIFILM, HOYA GROUP, KARL STORZ, Olympus, Richard Wolf, and Stryker.
Other Prominent Vendors in the market are: Ambu, Arthrex, asap endoscopic products, ATMOS MedizinTechnik, B. Braun Melsungen, Check-Cap, Jinshan Science & Technology, Clarus Medical, Cogentix Medical, Ecleris, Era Endoscopy, GI-View, HUGER Medical Instruments, IntroMedic, LABORIE, Machida Endoscope, Medtronic, NeoScope, OPTEC Endoscopy Systems, Optim, ProSurg, SCHINDLER ENDOSKOPIE TECHNOLOGIE, VIMEX ENDOSCOPY, and XION.
Commenting on the report, an analyst from Technavios team said: One trend in the market is new product launches. The global medical videoscopes market is witnessing rapid technical advances and increased adoption rate. Vendors are investing highly amounts into their R&D facilities and designing new innovative products. Also, global vendors are adopting market strategy to design and launch new technically advanced products in to the emerging economies and developed countries to increase their revenue and cashflow.
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According to the report, one driver in the market is increase in target population with chronic diseases. Increase in prevalence of chronic diseases is likely to increase the demand for medical videoscopes which are used to diagnose and treatment. Presence of large patient pool with chronic disorders such as stroke, cancers, arthritis, orthopedics, GI disorders, urology disorders and many other neurodegenerative disorders. According to the CDC, about 117 million adults in the US have chronic illness, and seven out of 10 deaths corresponds to chronic health diseases. Medical videoscopes are widely used to detect wide ranges of diseases less invasively with the aid of advanced visualization systems.
Further, the report states that one challenge in the market is excessive cost and maintenance issue related to medical videoscopes. Although, the global medical videoscopes market is growing at a steady pace, excessive cost of endoscopic equipment high procedural costs and associated maintenance issue will hinder the growth aspects. This could potentially affect the market growth especially in emerging economies/ price -sensitive markets. Small end-uses such as small hospitals or clinics may not opt for highly advanced endoscope systems due to budget constraints. So, procurement of these endoscopic devices requires many procedures and various budget allocation considerations before buying.
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Medical videoscopes have camera and additional ports, which allow physicians to insert other medical devices, and to visualize internal organs. Medical videoscopes are used widely in diagnosis and treatment. Videoscopes are relatively safe, and are widely used in the fields of gastrointestinal; gynecology; ear, nose, and throat (ENT); urology; and laparoscopy. The global medical videoscopes market is driven by the factors such as the increase in the prevalence of chronic disorders, favorable reimbursements, increasing MI surgeries, and increasing cases of colorectal cancer.
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