According to the Graphical Research new growth forecast report titled “Mexico Endoscopy Market Statistics By Usability (Single-use/Disposable, Reusable), By Product (Endoscopes [Flexible Endoscopes, Rigid Endoscopes, Capsule Endoscopes], Visualization Systems, Endoscopic Ultrasound, Insufflator), By Application (Arthroscopy, Laparoscopy, GI Endoscopy, Obstetrics/Gynecology Endoscopy, ENT Endoscopy, Pulmonary Endoscopy), Industry Size, Share, Growth Trends & Forecast, 2018 – 2024”, estimated to exceed USD 770 Million By 2024 —
Evolution of endoscopy devices have positively influenced endoscopy market growth. Frequent upgradation in technology allowing introduction of several types of endoscopes such as flexible, rigid and capsule endoscopes applicable in diagnosing diverse types of diseases has increased in recent years. Development of these endoscopes have promoted ease and convenience for performing endoscopic procedures thus, enhancing endoscopy business growth in coming years. Modifications in endoscopes and improvisations in the existing endoscopy devices will augment the Mexico endoscopy market growth during the forecast period.
Endoscopes segment held more than 35% revenue share in 2017 and will witness lucrative CAGR by 2024. This significant growth can be attributed to increasing technological developments that enhance the precession of endoscopic equipment. Availability of higher precision endoscopic equipment to improve performance of surgical procedures will stimulate the business growth. Moreover, increasing number of gastrointestinal diseases that are more frequent in pediatric as well as the geriatric population will boost industry growth during the forthcoming years.
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Furthermore, rising number of baby boomers prone to various age-related disorders such as cancer, gastrointestinal and immune disorders requiring endoscopy for disease diagnosis will positively impact the business growth. Additionally, growing adoption of unhealthy diet along with lifestyle habits such as alcohol consumption and tobacco smoking leading to various diseases will accelerate the need for effective and reliable diagnosis. However, dearth of skilled physicians and endoscopists may hamper the Mexico endoscopy market growth over the upcoming years.
Reusable endoscopes segment was valued more than USD 410 million in 2017 and is projected to show similar growth during the forecast period. Cost-effectiveness associated with reusable endoscopic devices will positively impact the business growth. However, reusable endoscopes require extensive cleaning to prevent transfer of harmful germs to other patients. These endoscopes are therefore mandated to include instructions for a validated and effective disinfection process. Increasing focus of industry players engaged in manufacturing reusable devices on design enhancement to offer easy-to-use endoscopes for physicians and easy-to-reprocess endoscopes for technicians will accelerate the segment growth.
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Gastrointestinal endoscopy application segment accounted for substantial revenue in 2017 and will show robust CAGR of 6.1% over the analysis timeframe. Burden of gastrointestinal diseases in Mexico have escalated the demand for upper as well as lower GI endoscopy procedures. Increasing geriatric population prone to gastrointestinal diseases will help in sustaining business growth. Availability of improvised endoscopy devices and equipment will surge the demand for endoscopic procedures and thus, spur business revenue in the foreseeable future.
Prominent players in Mexico endoscopy market include B. Braun Melsungen, Ethicon, Boston Scientific Corporation, Fujifilm Corporation, CONMED Corporation, Medtronic, Karl Storz, Smith & Nephew, Stryker and Olympus Corporation. Industry players are taking several initiatives to acquire higher market share and strengthen their market position. For instance, in March 2018, Boston Scientific announced acquisition of EMcision, Limited. The acquisition helped in expanding Boston’s endoscopic product portfolio including Habib EndoHPB probe, a novel endoscopic bipolar radiofrequency device used in the treatment of pancreaticobiliary cancers.
Segments we cover:
Mexico Endoscopy Market Statistics, By Product
Mexico Endoscopy Market Growth, By Usability
Mexico Endoscopy Market Trends, By Application
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