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Laparoscopy segment is expected to drive the growth of the global endoscopy devices market by application
According to a new market research study titled ‘Endoscopy Devices Market - Global Analysis and Forecasts By Product, Application and End User. The global endoscopy devices market is expected to reach US$ US$ 45,612.3 Mn in 2025 from US$ 26,333.3 Mn in 2017. The market is estimated to grow with a CAGR of 7.5% from 2018-2025. The report highlights the trends prevalent in the global endoscopy devices market and the factors driving the market along with those that act as deterrents to its growth. The market is expected to grow favorable government initiatives promoting the use of endoscopy devices, however, the risk of developing infections by the use of these devices is restraining the market growth.
Laparoscopy is a diagnostic surgical procedure that is minimally invasive and is used to examine the organs inside the abdomen. This procedure requires small incisions and hence is minimally invasive in nature. Laparoscopy is performed with the help of a laparoscope, a slender tool that has a tiny video camera and light on the end. Laparoscopy is conducted to diagnose pelvic or abdominal pain. This procedure has benefits over other traditional procedures due to benefits such as, smaller scars, reduced pain and rapid recovery. The segment of laparoscopy is expected to grow at a steady rate in the forecast period due various technological advancements in the field of laparoscopy. Various companies have been providing endoscopy devices for laparoscopic applications. In order to meet growing demand for high-quality, ergonomic and cost-effective laparoscopic instrumentation, Mediflex Surgical Products, a division of Flexbar Machine Corp. expanded its Cutting Edge Laparoscopic Instrument line in 2016.
Global endoscopy devices market, based on the end user was segmented into hospitals, ambulatory surgical centers and other end users. In 2017, hospitals segment held the largest share of the market, by end user. The availability of reimbursement policies for these procedures has made the procedure more affordable, leading to a rise in the number of endoscopic procedures.
Some of the prominent players operating in endoscopy devices market are Olympus Corporation, STRYKER, Medtronic, KARL STORZ SE & Co. KG, Ethicon US, LLC., Richard Wolf GmbH, Boston Scientific Corporation, Smith & Nephew, Cook, and FUJIFILM Holdings Corporation. The market of endoscopy devices have been marked by the constant product launches as well as innovations. For instance, Olympus Corporation launched ENF-VT3, the world’s first1 rhino-laryngo videoscope to incorporate 4-direction angulation Capability. The product was launched in the European and the Japanese market, enabling better access to products as well as enhancement of the company’s product offering in the market.
The report segments the global endoscopy devices market as follows:
Global Endoscopy Devices Market – By Product
Global Endoscopy Devices Market – By Application
Global Endoscopy Devices Market – By End User
Global Endoscopy devices Market – By Geography
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