An endoscopy is used in medicine primarily to examine the insides of a body. Unlike many other medical imaging techniques, endoscopes are inserted directly into an individual’s body. Also, there are many types of endoscopes, they can be differentiated depending on the site, and type of procedure. A patient may be fully conscious or anaesthetized during the procedure. An endoscope is basically a flexible tube with a light and camera attached to it. Healthcare professionals can view pictures of your digestive tract on a monitor using an endoscope. Minimal invasiveness of the endoscopic procedure and limited number of post operation complications makes it one of the most preferred and sought-after procedures in diagnostics and surgery.
Increasing incidence of gastrointestinal disorders and chronic diseases such as diabetes in developed economies is a key factor driving growth of the global endoscopy devices market. In addition, technological advancements in endoscopy devices, growing geriatric population, and increasing awareness about endoscopic devices among individuals in developing economies are other factors expected to boost growth of the global endoscopy devices market over the forecast period.
However, high cost of endoscopic devices is a key factor restraining growth of the global endoscopy devices market. Additionally, limited number of skilled professionals, and lack of appropriate healthcare infrastructure in emerging economies are other major factors expected to hamper growth of the global endoscopy devices market over the forecast period.
The global endoscopy devices market report has been segmented on the basis of product type, application, end user, and region. On the basis of region, the global endoscopy devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Currently, the market in North America dominates the global endoscopy devices market in revenue terms owing to presence of proper healthcare infrastructure, favorable reimbursement policies, and high awareness levels about endoscopic procedures in the region. The market in Europe accounted for second-highest revenue share in the global endoscopy devices market, due to high healthcare expenditure by governments of countries, and high disposable income, followed by markets in Latin America, Asia Pacific, and Middle East & Africa respectively. The market in Asia Pacific is projected to have fastest growth in terms of revenue, owing to increasing number of patients suffering from chronic diseases, rising demand for minimally invasive surgeries, and rise in government initiatives for the improvement of healthcare facilities in countries in the region.
Prominent players in the global endoscopy devices market include Olympus America Inc., KARL STORZ SE & Co. KG., Stryker, Boston Scientific Corporation, Ethicon US, LLC, Fujifilm Holdings Corporation, Medtronic, Hoya Corporation, ConMed Endoscopic Technologies, Inc., Richard Wolf GmbH, and B. Braun Melsungen AG.