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An Endoscope is a specialized instrument intended for performing endoscopy, a procedure that allows diagnosis of interior parts of organs. They are used for both therapeutic and diagnostic purposes. Endoscopic procedures are used to treat and identify medical conditions such as non-cancerous polyp, gastric cancer, bile duct stones, and Barrett’s esophagus.Endoscopy Devices have become the first line of treatment in case of major infections and diseases. The growing popularity of minimally invasive medical procedures coupled with the prevalence of chronic diseases have generated high demand for endoscopy procedures and subsequently driven the global endoscopy device market.
Technological advancements in endoscopy devices have led to the development of improved endoscopy devices with reduced scope size, and other improvements which allow rotation and steering, ultra-high definition, and advanced imaging modalities which have further increased adoption of endoscopy devices among healthcare professionals.
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Endoscopy Device Market - Major Players
Some of the key players in Endoscopy Device Market are
Cogentix Medical
Integrate Endoscopy
J&J services Inc.
Shaili Endoscopy
Interscope Inc.
Cantel Medical
Micro-Tech Endoscopy
Cognetix
Stryker
Olympus
Karl Storz Gmbh co. Kg
Fujifilm
Pentax medical
Richard Wolf
Endoscopy Device Market - Regional Analysis
The Americas led by the U.S. dominate the market owing to the presence of large healthcare expenditure, and excellent reimbursement. Europe accounts for the second largest market owing to an emphasis on diagnosis, large healthcare expenditure, and increasing prevalence of cancer. As per Organization for Economic Co-operation and Development (OECD), Germany spent 11 % of the total GDP on healthcare in 2015.
The Asia Pacific is the fastest growing market owing to expanding economies of countries like India and China. Asia Pacific is the fastest growing market, which is growing at a CAGR of 6.8 % from 2017 to 2023
The Middle East & Africa is expected to hold the least market share due to poor development of healthcare, and economy. The Middle East and Africa region are expected to be dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
Industry News:
In February 2019
OmniVision Technologies, Inc., a leader in advanced digital imaging solutions and Lighthouse Imaging, a medical contract manufacturer jointly announced the launch of a platform which is capable of integrating stereoscopic 3D imaging into endoscopes. The new platform is equipped with two CMOS image sensors and an image signal processor (ISP) from OmniVision, and camera control unit from Lighthouse. The new platform overcomes the complexity, size and cost constraints associated with the 3D endoscopy.
June 11, 2018
World’s Advanced Saving Project (WASP - Italy), a leading global 3D Printer Manufacturer engaged in developing 3D printing devices launched a new Digital Orthopedic Laboratory in Syria.
Professional mechanical and technical experience of several matured physicians, the specialist in Medicine and Surgery, and neurosurgeon, experts in cerebral neuro-endoscopy is used to develop the WASP system and help those in need.
Endoscopy Device Market - Segmentation
The Global Endoscopy Devices Market is segmented on the basis of type, therapy, treatment & procedures, application, accessory & processors, technology, and end-user.
Types of endoscopes include rigid endoscopes, capsule endoscopes, robot-assisted endoscopes, surgical endoscopes, and flexible endoscopes. The flexible endoscope segment is expected to capture nearly 28% share of the market by the end of the forecast period. But capsule endoscopes are touted to expand at a 6.9% CAGR during the forecast period. Therapies conducted via endoscopes include sigmoidoscopy, cystoscopy, colonoscopy, laparoscopy, endoscopic retrograde cholangiopancreotography, ureteroscopy, gastroscopy, and arthroscopy.
By treatments & procedures, the Endoscopy Devices Market is segmented into urinary system conditions, lower gastrointestinal conditions, upper gastrointestinal conditions, lung and airway conditions, abdominal, joint and orthopedic conditions, and gynecologic and pelvic organ conditions.
Key applications include urology endoscopy, bronchoscopy, arthroscopy, mediastinoscopy, obstetrics/gynecology endoscopy, gastrointestinal endoscopy, and otoscopy. The gastrointestinal endoscopy segment can expand in size owing to various GI disorders and increase in colonoscopy procedures.
Major end-users include critical care, orthopedic surgeons, obstetricians-gynecologists (ob/gyns), general and pediatric surgeons, and gastroenterologists. Technologies relied by endoscopes include video and fiber.
Endoscopy Device Market - Key Findings
The Global Endoscopy Device Market is expected to reach USD 42,342.4 million by 2023 at a CAGR of 6.3%
Flexible endoscopes segment market is expected to command the largest market share about 28.2%. However capsule endoscopes are expected to grow at the fastest CAGR of 6.9% during the forecast period 2017-2023
The Americas holds the largest share of the endoscopy device market and is expected to reach USD 15,186.1 million by 2023
Asia Pacific is the fastest growing market, which is growing at a CAGR of 6.8% 2017-2023
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