World News: 12:01 GMT Friday 7th December 2018. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Dec. 07, 2018 (GLOBE NEWSWIRE) -- The report has been added to 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.
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.
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.
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.
Laura Wood, Senior Press Manager
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Related Topics: Medical Devices, Endoscopy
Globe Newswire: 12:01 GMT Friday 7th December 2018
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