Endoscopy Devices Market is expected to reach US$ 45,612.3 Million by 2025

Publisher: The Insight Partners

Endoscopes Segment to Hold Major Endoscopy Devices Market Share During 2020–2025

According to our new research study on "Endoscopy Devices Market Forecast to 2025 – COVID-19 Impact and Global Analysis – by Product, Application, and End User," the market was valued at US$ 28,935.5 million in 2019 and is expected to reach US$ 45,612.3 million by 2025; it is estimated to record a CAGR of 7.5% from 2020 to 2025. The report highlights the trends and drivers prevailing in the market.

Based on product, the endoscopy devices market is segmented endoscopes, visualization systems, other endoscopy equipment, and accessories. Endoscopes are further sub-segmented into rigid endoscopes, flexible endoscopes, and capsule endoscopes. Visualization systems are further sub-segmented into wireless displays and monitors, light sources, video processors, endoscopic camera, video recorders, video converters, carts, transmitters & receivers, and camera heads. Other endoscopy equipments are further sub-segmented into electronic instrument, and mechanical instrument. Accessories segment is further sub-segmented into cleaning brushes, overtubes, surgical dissectors, light cables, fluid flushing devices, needle holders/ needle forceps, mouth pieces, biopsy valves, and others. In 2017, the endoscopes accounted for the largest market share and same segment is anticipated to register the highest CAGR during the forecast period. An endoscope is a device that is used for minimally invasive surgical procedures and can be inserted into the openings of the body. The device is used to visually examine and internal organs and accordingly diagnose the medical condition. Most of the endoscopes are similar in construction. However, endoscopes are also used for small surgical tasks, due to, its fine, flexible design, eliminating the cost, time and physical trauma in a standard surgical procedure. The endoscopes are named as per the location of their use. For example, nephroscope is used for the endoscopy of kidney, arthroscopy is used for joints and laparoscope for endoscopy of abdomen or pelvis. The demand for endoscopes is expected to increase in the coming years, due to increase in the number of disorders needing the procedure of endoscopy and the various launches and product enhancements in endoscopes. For instance, in May, 2018, Olympus Corporation launched ENF-VT3, the world’s first1 rhino-laryngo videoscope to incorporate 4-direction angulation Capability. The launch is expected to help the company to offer a strong product portfolio in the market. Prominent players manufacturing endoscopes include, Olympus Corporation, KARL STORZ SE & Co. KG, Richard Wolf GmbH, Stryker, and Ethicon US, LLC. among others.

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/sample/TIPHE100000823

Based on application, the endoscopy devices market is segmented into gastrointestinal endoscopy, laparoscopy, arthroscopy, otoscopy, urology endoscopy, bronchoscopy, laryngoscopy, other applications. The laparoscopy segment held the largest share of the market in 2017. However, gastrointestinal endoscopy segment is expected to grow at the highest CAGR during the forecast period. 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.

Based on end users, the global endoscopy devices market is divided into hospitals and ambulatory surgical centers and other end users. The hospitals segment held the largest share of the market in 2017 and is expected to grow at the highest CAGR during the forecast period. The hospital is a complex organization and an institute that provides health to people through complicated but specialized scientific equipment and team of trained staff educated in the problems of modern medical science. They are all coordinated together for the common goal of restoring and maintain good health. Hospitals serves a significant role by providing extensive range of medical services to the patient population suffering from wide variety of diseases. Most of the surgeries are also performed in the hospitals. Rising prevalence of various diseases, increasing number of hospitals across the globe, and rapid growth of various surgical procedures are primarily attributed the growth of this segment in the endoscopy devices market in the coming years. Owing to all the above mentioned factors, the hospital market is likely to grow in the coming years.

Impact of COVID-19 Pandemic on Endoscopy Devices Market

The rising number of COVID-19 patients led to an overall negatively impacted the endoscopy devices market. The COVID-19 pandemic has created both a public health crisis and an economic crisis worldwide. The pandemic had disrupted lives, pushed the hospital system to its capacity, and created a global economic slowdown. While there is significant uncertainty about economic growth prospects, the impact of the pandemic was severe. The record-long United States economic expansion came to an end as a result of the COVID-19 pandemic, with forecasts of a deep recession in 2020. The outlook remains highly uncertain, as it is difficult to gauge the social and economic impact of the pandemic, which will depend on the success of containing the outbreak and the measures to restart economic activity. The economic policy response to the COVID-19 pandemic has been substantial and immediate. This hampered the growth if endoscopy devices market during COVID-19.

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 are among the several players engaged in addressing the growing demands for endoscopy devices.

The report segments the endoscopy devices market as follows:

Based on product, the endoscopy devices market is segmented endoscopes, visualization systems, other endoscopy equipment, and accessories. Endoscopes are further sub-segmented into rigid endoscopes, flexible endoscopes, and capsule endoscopes. Visualization systems are further sub-segmented into wireless displays and monitors, light sources, video processors, endoscopic camera, video recorders, video converters, carts, transmitters & receivers, and camera heads. Other endoscopy equipments are further sub-segmented into electronic instrument, and mechanical instrument. Accessories segment is further sub-segmented into cleaning brushes, overtubes, surgical dissectors, light cables, fluid flushing devices, needle holders/ needle forceps, mouth pieces, biopsy valves, and others. Based on application, the endoscopy devices market is segmented into gastrointestinal endoscopy, laparoscopy, arthroscopy, otoscopy, urology endoscopy, bronchoscopy, laryngoscopy, other applications. Based on end user, the global endoscopy devices market is divided into hospitals and ambulatory surgical centers and other end users. Based on geography, the endoscopy devices market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, Thailand, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Contact Us
Contact Person: Content Team 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com