Where Is The Endoscopes Market Heading With Global Taking The Front Seat?

Posted by Merin John on April 13th, 2021

Endoscopes are gaining significant demand for arthroscopy, bronchoscopy, colonoscopy, and cystoscopy procedures. The shift toward minimally-invasive surgeries compared to open surgeries is likely to increase demand for endoscopes. Key stakeholders are introducing capsule endoscopes, robot-assisted endoscopes, and disposable endoscopes to overcome few drawbacks of conventional endoscopes.

For instance, in July 2015, Medrobotics Corporation received FDA clearance for its Flex® Robotic System for sale in the United States. Also, international medical device manufactures are concentrating on entering the capsule and robot-assisted endoscopes market. For example, Medtronic now holds a leading market share in the capsule endoscopes market after its acquisition of Given Imaging Ltd.

The global endoscopes market was valued at US$ 11.8 Bn in 2019, and is expected to witness a CAGR of 6% during the forecast period (20202030).

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Companies covered in Endoscopes Market Report

  •          Medtronic Plc.
  •          Olympus Corporation
  •          KARL STORZ SE & Co. KG
  •          Johnson & Johnson
  •          Fujifilm Holdings Corporation
  •          Richard Wolf GmbH
  •          Braun Melsungen Ag
  •          Stryker Corporation
  •          PENTAX Medical
  •          CONMED Corporation
  •          Boston Scientific Corporation
  •          Smith & Nephew PLC

Key Takeaways of Endoscopes Market Study

  •          Flexible endoscopes occupied nearly 60% of value share in the endoscopes market in 2019, owing to increasing adoption over rigid endoscopes. Flexible endoscopes provide better safety, greater efficacy, and better accessibility to internal organs as compared to rigid endoscopes.
  •          Gastrointestinal (GI) endoscopy accounted for the highest value share in the global endoscopes market, on the back of increasing annual gastrointestinal and colonoscopy procedures.
  •          Bronchoscopy registered the highest growth rate owing to rising number of respiratory disorders and introduction of new endoscopy products for bronchoscopy.
  •          Reusable endoscopes accounted for more than three-fourth of the value share in global endoscopes market. Moreover, the disposable segment registered a higher growth rate as compared to the reusable segment, with the growing demand for procedure-specific endoscopes and benefits of sterilization cost reduction.
  •          Hospitals hold a major share in the global endoscopes market, owing to large-scale adoption of endoscopic surgeries and favorable reimbursement policies for patients who visit hospitals as compared to outpatient centers.
  •          North America holds a prominent revenue share in the global endoscopes market, as a higher number of endoscopic surgeries as performed each year in the country.

“Growing gastrointestinal and colorectal cancer cases and higher acceptance of minimally-invasive procedures are likely to pace up market growth. Demand for endoscopes will continue to pick pace with the introduction of new technologies for accurate visualization,” says a PMR analyst.

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Merin John

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Merin John
Joined: December 11th, 2020
Articles Posted: 262

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