Dublin, Dec. 07, 2018 (GLOBE NEWSWIRE) -- The "Endoscopy Devices Market - Segmented by Type of Device, Application and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The Endoscopy Devices market was valued at USD 23,775.2 million in 2017, is expected to register a CAGR of about 6.45% during the forecast period 2018-2023.
Growing preference for minimally invasive surgeries, increasing prevalence of endoscopy for treatment and diagnosis, and technological advancements leading to enhanced applications are the major factors which are leading to the growth of the market. However, lack of skilled technicians and infections caused by few endoscopes are hindering the market growth.
Growing Preference for Minimally Invasive Techniques Propels the Growth of Endoscopy Devices Market
Endoscopy allows both operations on more fragile patients, notably the elderly, and the treatment of more complex diseases, such as cancer. Other benefits of endoscopy include reduced post-operative pain and risks of complications, rapid healing, lighter anesthesia and a shorter period of hospital stay.
Surgery, interventional radiology, and advanced endoscopy have all developed minimally invasive techniques to effectively treat a variety of diseases to bring about a positive impact on patients' postoperative outcomes. The growing awareness among the elderly population about minimally invasive procedures and the rising prevalence of chronic diseases worldwide boosts the demand for endoscopy devices.
Other factors, such as strong inorganic growth between major players and favorable FDA approvals and reimbursement scenario will lead to a rapid growth of the market.Additionally, increasing prevalence of endoscopy for treatment and diagnosis, and technological advancements leading to enhanced applications are also anticipated to drive the market for global endoscopy devices.
Infections Caused by Few Endoscopes Hinder the Growth of Endoscopy Devices Market
It has been observed that the contaminated endoscopes are frequently associated with outbreaks of associated infections. The most common infections are associated with ERCP (Endoscopic Retrograde Cholangiopancreatography) procedures. Currently, more than 500,000 ERCP duodenoscope procedures are performed annually in the United States. ERCP duodenoscope manufacturers include Olympus, Fujifilm, and Pentax Medical.
The problem with these devices lies in the complexity of the scope's design and its intricate, tiny parts. These parts can harbor bacteria that are hard to extricate. Pseudomonas is the most common pathogen isolated in endoscope-associated infections. They flourish in biofilm within internal channels and have been associated with overwhelming sepsis. These infections and their consequences can lead a patient to opt out of endoscopy procedure and hence restrain the market.
Market Segmentation Insights for the Endoscopy Devices Market
The global endoscopy devices market is segmented by type of device and by application
The device type segmentation comprises of endoscopy device, endoscopic operative device, visualization equipment. The endoscope device includes a rigid endoscope, flexible endoscopes, capsule endoscope, and robot-assisted endoscopes. The endoscopic operative devices further include an irrigation/suction system, access device, wound protector, insufflation device, operative manual instrument, and others. Whereas, the visualization equipment is further segmented by endoscopic camera, SD visualization system, and HD visualization system. The endoscopy held a 38% market share in 2017.
By application, the market is segmented into Gastroenterology, Pulmonology, Orthopedic Surgery, Cardiology, ENT Surgery, Gynecology, Neurology, and Urology. The gynecology segment held the largest share of the market in 2017, owing to the fact that gynecologic laparoscopic procedure is one of the common minimally invasive procedure performed to obtain a clear picture of the pelvic region. Uterus, ovaries, and fallopian tubes can be examined with a pelvic laparoscopy
North America to Dominate the Endoscopy Devices Market
Although the endoscopy market is a fairly saturated market, North America will lead the global market, as there is a high demand for minimally-invasive diagnostic testing devices and continuous introduction of technologically advanced devices. Asia-Pacific is estimated to register a very fast CAGR owing to the increasing disposable incomes, affordable solutions and increased funding in R&D in the field advanced diagnostics.
Developments in the Market
- May 2017 - Crospon, an endoscopic diagnostics company, today announced it has received US Food and Drug Administration (FDA) 510(k) clearance for its Endoflip System with Flip Topography Module
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Endoscopy Devices Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)
6.1 Endoscopy Devices Market Drivers
6.1.1 Growing Preference for Minimally Invasive Surgeries
6.1.2 Increasing Prevalence of Endoscopy for Treatment and Diagnosis
6.1.3 Technological Advancements leading to enhanced applications
6.2 Endoscopy Devices Market Restraints
6.2.1 Lack of Skilled Technicians
6.2.2 Infections Caused By Few Endoscopes
6.3 Endoscopy Devices Market Opportunities
6.4 Endoscopy Devices Market Key Challenges
7. Endoscopy Devices Market Segmentation
7.1 Endoscopy Devices Market By Type of Device
7.1.1 Endoscopy Device
18.104.22.168 Rigid Endoscope
22.214.171.124 Flexible Endoscope
126.96.36.199 Capsule Endoscope
188.8.131.52 Robot Assisted Endoscope
7.1.2 Endoscopic Operative Device
184.108.40.206 Irrigation/Suction System
220.127.116.11 Access Device
18.104.22.168 Wound Protector
22.214.171.124 Insufflation Device
126.96.36.199 Operative Manual Instrument
7.1.3 Visualization Equipment
188.8.131.52 Endoscopic Camera
184.108.40.206 SD Visualization System
220.127.116.11 HD Visualization System
7.2 Endoscopy Devices Market By Application
7.2.3 Orthopedic Surgery
7.2.5 ENT Surgery
7.3 Endoscopy Devices Market By Geography
8. Endoscopy Devices Market Competitive Landscape
8.1 Mergers & Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Endoscopy Devices Market Major Players
9.1 Boston Scientific Corporation
9.2 Conmed Corporation
9.3 Cook Medical
9.4 Richard Wolf GmbH
9.5 Ethicon Endo-Surgery (Johnson & Johnson)
9.6 Fujifilm Holdings
9.7 Medtronic PLC
9.8 Olympus Corporation
10. Endoscopy Devices Market future Outlook
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