Endotherapy Devices Market valuation will reach USD 6.15 Billion by 2

Posted by omkar on October 24th, 2019

The Global Endotherapy Devices market held USD 3.20 Billion in 2019 and is predicted to reach USD 6.15 Billion by 2030 with a CAGR of 6.1% from 2020-2030.

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Endotherapy devices are used to execute endoscopy that is either surgical or non-surgical. These devices are used To localize any kind of abnormality inside the body. These devices perform abdominal pain, ulcers, digestive tract bleeding, and abnormal growths in the colon and other abdominal & gastrointestinal (GI) conditions.

The increasing prevalence of diseases that involve endotherapy devices and rapid advancement in the devices has increased the market growth of the endotherapy devices. Furthermore, the demand for endotherapy devices is also increasing.

The factors including rapid technological advancement, increasing occurrence of diseases that require endotherapy devices, and shorter recovery time and minimal postoperative complications are key factors majorly driven the endotherapy devices market trend. Further, increasing patient preference for minimally invasive surgeries has led to an increase in the demand of endotherapy devices. However, lack of trained physicians & endoscopists, infections caused by few endotherapy devices, and high costs associated with endotherapy devices are hampering the growth of the endotherapy devices market. The unachieved medical demands in developing countries and productive opportunities in the emerging economies will create new opportunities for market growth in the future.

The endotherapy devices market is segmented on the basis of product, application, end users, and geography. The GI Devices & Accessories segment is further divided into polypectomy snares, graspers, biopsy forceps, injection needles, hemoclips, and others. The ERCP devices & accessories are further subdivided into a guide wire, catheter, extraction basket, extraction balloon, plastic stent,     metal stents, sphincterotome, balloon dilation, and others. The other endotherapy devices & accessories segment is further subdivided into polyp trap, cleaning brush, mouthpiece, distal end cap, and others. On the basis of product, the market is segmented into GI devices & accessories, ERCP devices & accessories, other endotherapy devices & accessories. On the basis of application, the market covers laparoscopy, urology endoscopy, bronchoscopy, arthroscopy, neuro-endoscopy, gastrointestinal endoscopy, and others. On the basis of end users, the market is classified into hospitals, clinics, and others. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

North America denotes a higher adoption of the endotherapy devices and is anticipated to hold the highest endotherapy devices market share during the forecast period. This is attributable to the factors including technological advancement in health care and research industry, growing geriatric population, the surge in the number of minimally invasive surgeries, adoption of advanced products, and presence of major key players in this region.

It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to increase in investment by key players in this regions and surge in government expenditure for the advancement of health care system.

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Comprehensive competitive analysis and profiles of the major market players such as Hoya Corporation, Boston Scientific Corporation, Conmed Corporation Medtronic Plc., Olympus Corporation, Stryker Corporation, Karl Storz GmbH & Co. KG, Smith & Nephew, Plc., Fujifilm Holdings Corporation, B. Braun Melsungen AG, and Johnson & Johnson are provided in the endotherapy devices market report.

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omkar

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omkar
Joined: April 19th, 2019
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