Global $46 Bn Endoscopy Devices Market to 2025

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Dublin, March 15, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.

The endoscopy devices global market is expected to grow at a mid single digit CAGR to reach $46,660.0 million by 2025

Factors such as increasing demand for minimally invasive surgical procedures leading to fast recovery and reduced hospital stays, technological innovations offering a wider scope of applications for endoscopy, the rise in obese population preferring bariatric surgery for weight reduction are the factors driving the market growth. The increasing trend for high-resolution technologies such as 3D systems, capsule endoscopy and miniaturized endoscopic systems, market expansion opportunities in emerging nations and the emergence of single-use devices are expected to offer potential opportunities.However, there are various factors like lack of skilled professionals to handle the endoscopic procedures and reprocessing techniques, expensive endoscopic procedures and risk of infections associated with endoscopic procedures limit the growth of endoscopy devices global market. The threats to the endoscopy market include the emergence of alternate technologies, and stringent regulatory bodies guiding endoscopy device manufacturers.Use of flexible endoscopes and single-use endoscopes in almost all the application areas and capsule endoscopes for lower gastrointestinal tract screening is the trend of this market. The emergence of ultrathin endoscopes as thin as hair strands, tadpole endoscopes for early diagnosis are some of the upcoming technologies in the field of endoscopy.The endoscopy market is mainly segmented based on applications, products, end-users and geography. The endoscopy devices global market by application is classified into gastrointestinal, arthroscopy, laparoscopy, gynecology/obstetrics, pulmonary, neurology, urology, ENT, and others.

In 2018, laparoscopy commanded the highest share and is expected to be the fastest growing segment. Based on products the market is segmented into endoscopes, endoscopic instrument, and endoscopic accessories. Among products, endoscopes generated the largest revenue in 2018 and instruments market is expected to grow at the strong CAGR from 2018 to 2025. End-users include hospitals, ambulatory surgical centers, diagnostic laboratories and academic and research laboratories. Hospitals segment commanded the largest share and are projected to be the fastest-growing segment.Based on geography, endoscopy market is divided into North America, Europe, Asia-Pacific and Rest of the world. The North America region commanded the largest market revenue in 2018. Favorable reimbursement and high demand for minimally invasive procedures are driving the market. However, the Asia-pacific region is expected to grow at the strong CAGR during the forecast period due to, increased healthcare awareness, economic growth and increasing healthcare funding by the governments. New Product launches, acquisitions, and mergers, collaborations, joint ventures are some of the industry trends that are playing a major role in market growth. Technological advancements such as adoption of Near Infrared Radiation technology (NIR), Flexible Spectral imaging color enhancement (FICE), I-Scan technology, Confocal Laser Endomicroscopy (CLE), and Computer-Aided Detection systems are enhancing the diagnostic and therapeutic use of endoscopy. The CLE technology is being developed Mauna Kea Technologies (France) which combines the microscopy and endoscopy technology to produce images (optical biopsies), which eliminates the need of tissue biopsies and aids in immediate informed decision making.

Companies such as Johnson & Johnson, Olympus Corporation, Medtronic PLC, Boston Scientific Corporation, Stryker, Fujifilm Holdings Corporation and Smith & Nephew PLC with number of product offering and strong pipeline are ahead of other companies and are considered to be leaders in the market.

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Related Topics: Medical Devices, Endoscopy

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Globe Newswire: 09:22 GMT Friday 15th March 2019

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