Endoscopy Devices Market is projected to reach $45,389.62 million by 2026: TMR Study
The global endoscopy devices market was valued at $30,011.13 million in 2018, and is projected to reach $45,389.62 million by 2026, at a CAGR of 5.4% from 2019 to 2026.
Endoscopy is a process of visualizing internal organs using an endoscope. These endoscopes are equipped with a thin and flexible tube along with a camera on the tip through which the lining of the esophagus, stomach, duodenum, and others can be visualized. These endoscopy devices can be used either for disease diagnosis or therapeutic surgeries. A cutting tool is attached to the end of the endoscope, and subsequently the apparatus can be used to perform surgery.
The global endoscopy devices market is anticipated to experience significant growth during the forecast period due to technological advancements and rise in prevalence rate of diseases that require endoscopy devices. In addition, favorable FDA approvals & reimbursement policies in developed economies, surge in patient preference for minimally invasive surgeries, and shorter recovery time & minimal postoperative complications further drive the growth of the global endoscopy devices market. However, dearth of trained physicians & endoscopists and infections caused by few endoscopes restrict the growth of the market. On the contrary, unmet medical demands in developing countries are expected to provide lucrative opportunities for the market growth.
The global endoscopy devices market is segmented into product, hygiene, application, end user, and region. Depending on product, the global market is categorized into endoscopy devices (endoscopes), mechanical endoscopic equipment, visualization & documentation systems, accessories, and others. The endoscopy devices segment is further classified into rigid endoscopes, flexible endoscopes, capsule endoscopes, and robot-assisted endoscope. The rigid endoscopes segment is subdivided into laparoscopes, urology endoscopes, gynecology endoscopes, arthroscopes, cystoscopes, neuroendoscopes, and others rigid endoscopes.
The flexible endoscopes segment is subsegmented into GI endoscopes, ENT endoscopes, bronchoscopes, ultrasound endoscopes, and other flexible endoscopes. The mechanical endoscopic equipment is further segmented by devices and by therapeutic. The mechanical endoscopic equipment, by devices is further divided into endoscopic implants, trocars, graspers, snares, biopsy forceps, and others.
The mechanical endoscopic equipment by therapeutic is further classified into biopsy (FNA and FNB), polypectomy (ESD and EMR), biliary stone management & drainage, hemostasis & suturing, esophageal & colon stricture management, gastroesophageal reflux disease (GERD)/obesity, and others. The visualization & documentation systems segment is subcategorized into light sources, camera heads, wireless display & monitors, endoscopy cameras, carts, digital documentation systems, video processors & video convertors, transmitters & receivers, and others. The accessories segment is further segmented into biopsy valves, over tubes, mouth pieces, surgical dissectors, needle holders & needle forceps, cleaning brushes, light cables, and other accessories. The other endoscopy equipment is further fragmented into insufflators, endoscopy fluid management systems, and other electronic endoscopy equipment.
LIST of KEY PLAYERS Profile IN THE REPORT: HOYA Corporation, Olympus Corporation, Stryker Corporation, Boston Scientific Corporation, Fujifilm Holdings Corporation, CONMED Corporation, Medtronic Plc., Karl Storz GmbH & Co. KG, Smith & Nephew, Plc., Johnson & Johnson, Medrobotics Corporation
Depending on hygiene, the market is segregated into single-use, reprocessing, and sterilization. The applications covered in the study include bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuroendoscopy, gastrointestinal endoscopy, gynecology endoscopy, ENT endoscopy, and others. On the basis of end user, the market is classified into hospitals, ambulatory surgery centers & clinics, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
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