The global endoscopy devices market is a fast growing market with huge potential for growth due to rapid technological advancements and large sum of public and private investment in medical infrastructure and health care. The global endoscopy devices market is expected to grow with a CAGR of around 6% during the forecast period 2016-2023.
The global endoscopy devices market is expected to experience steady and stable growth during the forecast period attributed to large investments from various government bodies in healthcare and medical infrastructure; increase in the numbers of hospitals, medi-care and health care centers; and, high prevalence of gastrointestinal diseases and colorectal cancer. The other major factors that are driving the global devices endoscopy market are technological advancements, rising geriatric population, and increasing awareness among people leading to rapid shift towards minimally invasive surgeries; as endoscopy provides painless visual examination of gastrointestinal (GI) tract with the help of a flexible tube attached with a camera and light, and the images are transmitted through a data recorder. In addition to growing awareness regarding minimally invasive and non-invasive surgical procedures, technological innovations in endoscopic instruments and devices is also a major factor driving the global endoscopy devices market further. The increasing impetus on healthcare reforms by various international and government agencies has resulted in supportive government policies and initiatives; this, combined with the increasing medical demand has accelerated medical tourism in various regions across the globe, providing a thrust to the global devices endoscopy market.
Though the market is growing steadily, there are a number of factors hindering the steady growth of the market. One of the major challenges faced by the global devices endoscopy market is the cost of endoscopy devices and treatment procedures. Endoscopy devices and instruments are expensive and requires skilled and tactful professionals to handle them. These devices and instruments are owned by medical institutes and establishments; the high cost of procurement of these devices and lack of skilled professionals result in high cost of treatment procedure hindering the growth of global endoscopy devices market. These restraints are also accompanied by various opportunities, with growing global healthcare expenditure, especially in emerging economies has opened new avenues for the global devices endoscopy market. The technological advancement and innovation are also providing growth opportunity for the global endoscopy devices market, with the advent of Capsule Endoscopy; a capsule containing tiny camera in the shape and size of a pill. These are Wi-Fi enabled capsules with long battery life used to examine the gastrointestinal tract. Such innovations and developments are helping the endoscopy devices market to grow.
Source: OBRC Analysis
The endoscopy devices market is broadly segmented on the basis of products, such as
- Endoscopes
- Visualization Systems
- Other endoscopy equipment
- Accessories
On the basis of application:
- ARTHROSCOPY
- LAPAROSCOPY
- NEUROLOGY
- ENT ENDOSCOPY
- GASTROINTESTINAL ENDOSCOPY
- GYNAECOLOGY
- UROLOGY
- OTHER
Global endoscopy market on the basis of end-user:
- HOSPITALS
- AMBULATORY SURGICAL CENTERS/CLINICS
- OTHER END USER
On the basis of product these are further divided into flexible, rigid, capsules, and robot assisted endoscopes under the head of endoscopes. Endoscopy cameras, camera heads, transmitters and receivers, video recorders and convertors, carts among others come under the visualization systems. The other endoscopy equipment are subdivided into other electrical endoscopy equipment and other mechanical endoscopy equipment. The accessories includes surgical dissectors, channel brushes, needle forceps and needle holders, mouth pieces, overtubes etc. Among these, product segment, the endoscopes segment accounts for the largest share of the global endoscopy devices market in 2015. On the basis of application, gastrointestinal endoscopy segment is expected to account for the largest market share. hospital segment of end-user is expected to account for the largest share in the endoscopy device market.
The revenue for the above application and end-user segments are specific to the endoscopy device market. however, the total revenue of these application and end-user in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up product segment.
Geographically, the global endoscopy devices market has been segmented on the basis of four major region, which include:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
On the basis of application, the market is divided into laparoscopy, gastrointestinal endoscopy, arthroscopy, urology endoscopy, ENT endoscopy, neurology, otoscopy, obstetrics/ gynecological endoscopy, laryngoscopy, bronchoscopy and mediastinoscopy. In 2015, laparoscopy segment is estimated with the largest market share in the endoscopy equipment market, followed by gastrointestinal endoscopy as the second largest application area. On the basis of geography, the global endoscopy devices market is divided into North America, Europe, Asia-Pacific, and the Rest of the World; including Latin America, Middle East and Africa. The North America holds the largest share of the global devices endoscopy market in 2015, followed Europe and Asia-Pacific. The major share of the North American market is due to a number of factors working together. These include favorable government policies for medi-claims and reimbursements, high awareness among people regarding minimally invasive and non-invasive surgical procedures, high disposable per capita income, and growing geriatric population. The European market is facing trouble due to economic slowdown in the region, resulting in unfavorable government policies. The Asia-Pacific region is expected to encounter rapid growth during the forecast period as huge investments are being made in this region; this is also accompanied with a huge base of geriatric population, increasing awareness among people, and favorable government policies that has also encouraged medical tourism in the region, ultimately resulting in the rapid growth of market in the region.
The major market players of the global endoscopy devices market are:
- Ethicon Inc. (U.S.)
- Given Imaging
- Olympus Corporation
- IntroMedic Co., Ltd.
- Johnson and Johnson
- Fujifilm Holding Corporation
- CapsoVision
- RF System lab
Detailed analysis of these companies provided in this report comprises Overview, SCOT Analysis, Product Portfolio, Strategic Initiative and Strategic Analysis.
These companies using various strategies such as merger & acquisition, collaboration, partnership and product launchingFor example on November, 2016 Boston scientific expands endoscopy business by acquiring LumenR. LumenR system is a tissue retractor company and also assist endoscopic instruments . By this acquisition Boston has expanded its gastrointestinal business.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as on November, 2016 Boston scientific acquired LumenR
- Provide in detail the different segments such as by products and end-users which are affecting the global endoscopy device market.
- Provide you the patent analysis of the endoscopy devices market.
- Identify and understand the strength, opportunities, challenges and threat of endoscopy devices market.
- Provide revenues of major players of the market such as Boston scientific and Medtronic and stryker.
- Provide you various the regulatory policies which are affecting the global endoscopy devices market.
How we are different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global endoscopy device market offers the longest chain of market segmentation covering major market segmentation based on application products and end users. The report tracks the major market trends in the global endoscopy device market such as growing patient preference for minimal invasive surgeries, technological advancement and so on. For each market segments covered in global endoscopy devices market report, we provide opportunity matrix, and DRO analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the endoscopy devices industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key Findings of the global endoscopy devices market:
- Growing awareness regarding minimally invasive and non-invasive surgical procedures, technological innovations in endoscopic instruments and devices is also a major factor driving the global endoscopy devices market further.
- North America is anticipated to account the largest revenue share in 2016.
- Increasing government support
- Acquisition is the key strategy adopted by the various market players of global endoscopy device market.
- Endoscopes is the major segment of product.
