NEW YORK, Jan. 04, 2019 (GLOBE NEWSWIRE) -- Global Endoscopy Devices market is expected to grow significantly from USD 25.7 billion in 2017 to USD 41.2 billion in 2024, at a CAGR of 7.2% from 2018 to 2024. Major factors driving the growth of the market are; rising geriatric population across the globe, and technological advancements in product development. Moreover, increasing number of surgeries coupled with growing preference for minimal invasive surgeries, and growing number of hospitals and ambulatory surgical centers across the globe are also propelling the market growth. However, limited number of trained professionals may hamper the market growth to some extent.
Key findings of the report:
- The global endoscopy devices market is expected to reach USD 41.2billion in 2024, at a CAGR of 7.2% during 2018 -2024
- Based on device, endoscopy device segment held the major share of the market in 2017
- On the basis of application, the gastroenterology segment held the major of the market in 2017, owing to rising number of GI disorders, and increasing incidences of esophageal and colon cancer
- On the basis of end-user, the hospital segment held the major share of the global market in 2017
- Asia-Pacific region is expected to register highest CAGR over the forecast period
- Some of the key companies operating in the market include Boston Scientific, Inc., Conmed Corporation, Olympus Corporation, Medtronic, Richard Wolf GmbH, Karl Storz GmbH, Stryker Corporation, Fujifilm Holding Corporation, Cook Medical Incorporated, and Cogentix Medical
Rising geriatric population driving the market growth
Endoscopy is a modern technology used for the detection of the diseases, and is also helpful in the minimally invasive surgeries performed across the globe. Endoscopy consists of the procedures that are comparatively cheaper, and results in fewer complications after the surgery. The instruments used in the procedures include visualization systems, endoscopes, and operative devices. These instruments enable the observation of the organs directly, unlike other medical imaging and visualization instruments. The endoscopy operative devices market is expected to grow due to the rising geriatric population across the globe. The aged population is more sensitive to diseases such as ophthalmic diseases, gastroesophageal reflux disease, gastrointestinal problems, orthopedic diseases, and cancer.
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Global Endoscopy Devices Market– Regional insight
North America held the major share of the global market owing to increasing healthcare expenditure, and increasing research and development activities by major players in the region. Moreover, rising geriatric population and favorable reimbursement policies are further propelling the market growth in the region. Asia-Pacific is expected to witness the highest CAGR during the forecast period owing to growing number of hospitals and clinics in the region. Moreover, growing demand for minimal invasive surgeries and increasing incidence of chronic diseases are further augmenting the market growth in the region.
This report segments global endoscopy devices market based on device, applications, end-user and geography.
By Device
- Endoscopy Device
- Rigid Endoscope
- Flexible Endoscope
- Colonoscopes
- Laryngoscopes
- Nasopharyngoscopes
- Bronchoscopes
- Duodenoscopes
- Upper GI Endoscopes
- Others
- Robot Assisted Endoscope
- Capsule Endoscope
- Visualization Systems
- Endoscopy Cameras
- Video Processors
- Wireless Display & Monitors
- Transmitters and Receivers
- Others
- Endoscopic Operative Device
- Wound Protector
- Operative Manual Instrument
- Access Device
- Insufflation Device
- Others
By Applications
- Orthopedic Surgery
- Gastroenterology
- Neurology
- Cardiology
- Urology
- Pulmonology
- Gynecology
- Others
By End-user
- Ambulatory Surgical Centers
- Hospitals
By Geography
- North America
- Europe
- Asia-Pacific
- Central & South America
- Middle East and Africa
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