Global Endoscopy Market was valued around USD 26 billion in 2017 and is expected to witness growth of more than 6.0% CAGR from 2018 to 2024.
Increasing geriatric population in developing countries such as Japan, China & India will act as highly impacting factor for endoscopy market growth. Elderly people are highly susceptible to suffer from chronic conditions due to poor immunity thereby leading to increase in demand for minimally invasive endoscopy procedures. According to National Home Infusion Association (NHIA), nearly 92% of elderly people suffer from at least one chronic disease while 77% suffer from 2 or more chronic diseases thereby accelerating endoscopy market business growth.
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Endoscopes accounted for largest revenue share in 2017 due to rising prevalence of chronic conditions such as cancer and gastrointestinal ailments coupled with technological advancements in endoscope enabling minimally invasive endoscopic surgery. Minimally invasive procedure offers several benefits including reduced hospital stays, less blood loss due to smaller incisions, lower risk of long-term surgical scars, faster recovery and higher patient outcomes, thus fueling endoscopy market growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Boston Scientific
- CONMED Corporation
- BKK B. Braun Melsungen AG
- Smith & Nephew
- Olympus Corporation of the Americas
- KARL STORZ Endoscopy-America, Inc.
- Ethicon, Inc.
- Cook Medical Technologies LLC
- Hoya Corporation Richard Wolf GmbH
GI endoscopy segment held more than 40% industry share in 2017 and is anticipated to follow similar trend in upcoming years owing to increasing cases of ulcers. Gastrointestinal disorders require continuous monitoring and accurate diagnosis, that can be achieved by utilizing endoscopy devices will drive segment growth. Moreover, water related infections highly prevalent in Asia Pacific leading to increasing incidences of gastrointestinal disorders will boost industry growth.
U.S. endoscopy market will witness 6.4% CAGR during the forecast period owing to increasing number of baby boomers suffering from chronic gastrointestinal disorders along with rising prevalence of colon cancer in the country. Also, growing rates of surgical procedures that require endoscopies to aid diagnostic decisions will have positive impact on industry growth.
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Germany endoscopy market was valued over USD 1.7 billion in 2017 due to continuous integration of advanced technology in the endoscopy devices and high technological adoption. Increasing cases of cancers such as colon, ovaries and kidney will further boost endoscopy market growth in Germany.
Endoscopy Market by Product
- Visualization systems
- Endoscopic ultrasound
Endoscopy Market by Application
- GI endoscopy
- ENT endoscopy
- Pulmonary endoscopy