Endoscopy Device Market is growing globally with the rapid pace and Forecast to 2023

The Analysis presents the study of Global Endoscopy Device Market facilitating the regional and country wise analysis covering the strategic analysis of each market player and the market share they hold
Endoscopy Device Market Information: By Type, (Flexible Endoscopes), Therapy (Gastroscopy), Treatment & Procedure (Abdominal, Gynecologic And Pelvic Organ Conditions), Application, (Gastrointestinal Endoscopy), Accessory & Processor, Technology, And End User - Global Forecast Till 2023
Market Scenario
An endoscopy is a procedure that allows physicians or surgeons to look interior parts of the organ. The technique is used for both diagnostic and therapeutic purpose. To perform endoscopy a specialized instrument is used named as endoscope. Various types of endoscopes and adoption of endoscope depends upon the affected body organ, for instance, bronchoscopes are used for lungs related problem, arthroscopes are preferred for problems associated with joints, and many others. Other instruments required during an endoscopic procedure includes biopsy forceps, cytology brush, flexible forceps, trocar sleeves, etc. For therapeutic purpose, the endoscopes are either attached or passed through surgical instruments to perform particular surgery. Endoscopic surgery is a type of minimally invasive surgery in which an endoscope is inserted in the body through small incisions to examine the internal organs.
Rising prevalence of chronic diseases, advancing endoscopy technology, and increasing funding and reimbursement towards screening and treatment with endoscopic techniques are promoting the growth of the global endoscopy devices market. Additionally, increasing popularity of minimally invasive surgery is also creating a huge scope for the growth of market.
As per the study suggested by American Cancer Society, 90% colorectal cancer (CRC) cases are detected in individuals with over 50 years in the U.S and colonoscopy is the most effective and the most commonly adopted procedure for the diagnosis and screening of CRC in older population. Moreover, the increasing geriatric population across the globe has a direct impact on endoscopic devices market. As older adults are more vulnerable towards health issues such as ophthalmic diseases, gastrointestinal problems, orthopedic diseases, cancer, and many others due to lower immunity, which in turn, complicate the diagnostic and therapeutic options.
According to the WHO, it is estimated that the world’s population aged over 60 years will nearly double from by 2050. In the U.S, more specifically, more than 20% of the total population will be aged 65 years or over by 2030
However, on the other hand, infections and complications caused by endoscopy devices may hamper the market growth.
The global endoscopy device market is expected to grow at a CAGR of 6.3% during the forecast period 2017-2023.
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Segmentation global endoscopy device market is segmented on the basis of types, therapy, treatments & procedures, application, accessory & processors, and end user.
On the basis of type, it is segmented into flexible endoscopes, rigid endoscopes, capsule endoscopes, surgical endoscopes, and robot-assisted endoscopes.
On the basis of therapy, it is segmented into colonoscopy, gastroscopy, arthroscopy, laparoscopy, sigmoidoscopy, endoscopic retrograde cholangiopancreotography, ureteroscopy, and cystoscopy
On the basis of treatments & procedures, it is segmented into abdominal, gynecologic and pelvic organ conditions, joint and orthopedic conditions, lower gastrointestinal conditions, lung and airway conditions, upper gastrointestinal conditions, and urinary system conditions. Abdominal, gynecological, and pelvic organ conditions is further segmented into hernia repair, removal of the appendix, gallbladder, spleen, uterine fibroids, endometrial tissue, and ectopic pregnancy. Joint and orthopedic conditions is further segmented into repair of rotator cuff conditions, carpal tunnel syndrome, loose bone or cartilage, torn or damaged cartilage, tendons, and arthritis. Lower gastrointestinal conditions is further segmented into removal of colon polyps, and treatment of bleeding from the colon. Lung and airway conditions is further segmented into lung abscess, removal of a foreign object in the airway, and opening of a narrowed airway. Upper gastrointestinal conditions is further segmented into removal of polyps and foreign objects, widening of a narrowed esophagus, treatment of hypertensive lower esophageal sphincter, barrett's esophagus, and esophageal cancer. Urinary system conditions is further segmented into kidney stones.
On the basis of applications, it is segmented into gastrointestinal endoscopy, arthroscopy, obstetrics/gynecology endoscopy, urology endoscopy, bronchoscopy, mediastinoscopy, and otoscopy
On the basis of accessory & processors, it is segmented into accessory and processors
On the basis of technology, it is segmented into video and fiber
On the basis of end user, it is segmented into critical care, gastroenterologists, general and pediatric surgeons, obstetricians-gynecologists (ob/gyns), and orthopedic surgeons.
Key Players
Some of the key players in this market are Cogentix Medical, Integrate Endoscopy, J&J services Inc, Shaili Endoscopy, Interscope Inc., Cantel Medical, Micro-Tech Endoscopy, Cognetix, Stryker, OLYMPUS, KARL STORZ Gmbh & Co. KG, FUJIFILM, PENTAX MEDICAL, and RICHARD WOLF.
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Key Findings
The global endoscopy device market is expected to reach USD 42,342.4 million by 2023 at a CAGR of 6.3%
Flexible endoscopes segment market is expected to command the largest market share about 28.2%. However capsule endoscopes is expected to grow at the fastest CAGR of 6.9% during the forecast period 2017-2023
The Americas holds the largest share of the endoscopy device market and is expected to reach USD 15,186.1 million by 2023
Asia Pacific is the fastest growing market, which is growing at a CAGR of 6.8% 2017-2023
Regional Analysis
The Americas dominates the global endoscopy device market owing to the presence of strong economic condition, huge development in the healthcare domain, and focus of research institutions on updating technology for new and advanced diagnosis and treatment methods. Moreover, advanced hospitals infrastructures, and availability of skilled healthcare professional adding fuel to the growth of the market.
Europe holds the second position in the market on the basis of increasing emphasis on rapid diagnosis and treatment of cancer, and gastrointestinal diseases, changing lifestyle, increasing prevalence of cancer among geriatric population. As per Organization for Economic Co-operation and Development (OECD), Germany spent 11% of the total GDP on healthcare in 2013, which was 10.8% in 2012, which drives the growth of the market in this region.
Asia Pacific is the fastest growing market owing to more number of developing nations present in this region, for instance, countries like India and china. These countries are encouraging the growth of the healthcare domain. Furthermore, increasing patient population of cancer and gastrointestinal diseases in developing countries will directly increase the demand for various diagnosis & treatment methods, which, in turn, will boost the growth of the market.
The Middle East & Africa is expected to hold the least market share due to less availability of medical facilities, and less development in the healthcare domain. However, countries such as Qatar and Kuwait are focusing more on the healthcare domain and developing medical facilities, which will boost the market of this region.

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