Pune, India, Oct. 14, 2021 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global endoscopy equipment market size garnered a valuation of USD 27.3 billion in 2020 and is anticipated to multiply with a CAGR of 6.6% during 2021-2027, subsequently accumulating USD 42.7 billion by the end of the projected timeline.
The document divides the business sphere into several segments such as application spectrum, end user scope, and regional terrain. It individually assesses these segments and identifies potential opportunities in the process.
Lastly, it presents a conclusive overview of the competitive landscape, elaborating on business profile, product/service offerings, and recent developments. The report also mentions winning strategies adopted by key firms to enhance their income flow as well as sail through uncertain conditions.
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The market growth can be attributed to shifting customer preference towards minimally invasive surgeries, and surging demand for endoscopy to identify and treat target ailments. Moreover, rising investments towards enhancing healthcare infrastructure and research areas of endoscopy is fueling the market expansion.
According to Statista, minimally invasive surgery industry is predicted to increase from USD 20.5 billion in 2019 to USD 44.04 billion by 2030. As the market for minimally invasive surgery expands, the demand for endoscopy equipment to perform procedures is likely to rise.
For the unversed, endoscopy is a minimally invasive surgical procedure that aids in the prevention, diagnosis, and treatment of visceral organ complications. Endoscopes are used to examine the insides of hollow cavities or organs in the body. These medical devices are implanted into the human body via natural cavities, apertures, or incisions.
Other elements of endoscopy equipment, such as a light source or a camera, assist medical experts in analyzing internal organs. Endoscopy can be performed to explore various digestive problems, including stomach discomfort, vomiting, nausea, difficulty swallowing, gastrointestinal bleeding, and more.
Considering restraints, hefty overhead costs of endoscopy procedures is anticipated to hamper the remuneration scope of worldwide endoscopy equipment industry over the study period.
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Regional landscape outlook
North America, Latin America, Asia Pacific, and Europe are the regions studied for the overall industry analysis. Of these, North America currently holds considerable portion of the industry share and is slated to amass notable returns during 2021-2027. This can be credited to advantageous reimbursement policies for endoscopic operations, an increase in the frequency of various diseases, and research initiatives aimed at enhancing endoscopy techniques.
Global Endoscopy Equipment Market by Product Type (Value, USD Billion, 2018-2027)
- Accessories
- Other Endoscope Equipment
- Visualization System
- Endoscope
Global Endoscopy Equipment Market by Application Spectrum (Value, USD Billion, 2018-2027)
- Mediastinoscopy
- ENT Endoscopy
- Bronchoscopy
- Urology Endoscopy (Cystoscopy)
- Arthroscopy
- Obstetrics/ Gynecology Endoscopy
- Laparoscopy
- Gastrointestinal Endoscopy
- Others
Global Endoscopy Equipment Market by End User Scope (Value, USD Billion, 2018-2027)
- Ambulatory Surgery Centers/Clinics
- Hospitals
- Others
Global Endoscopy Equipment Market Regional Bifurcation (Value, USD Billion, 2018-2027)
North America
- U.S.
- Canada
Europe
- The U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
Rest of The World
Global Endoscopy Equipment Market Major Firms (Value, USD Billion, 2018-2027)
- Smith & Nephew plc
- Nipro Corporation
- Hoya Corporation
- Medtronic plc
- Fujifilm Holdings Corporation
- Johnson & Johnson
- Boston Scientific Corporation
- Stryker Corporation
- Karl Storz SE & Co. KG
- Olympus Corporation
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Endoscopy Equipment Market, by Region, 2019-2027 (USD Billion)
1.2.2. Endoscopy Equipment Market, by Product, 2019-2027 (USD Billion)
1.2.3. Endoscopy Equipment Market, by Application, 2019-2027 (USD Billion)
1.2.4. Endoscopy Equipment Market, by End User, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Endoscopy Equipment Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Endoscopy Equipment Market Dynamics
3.1. Endoscopy Equipment Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Increasing need for endoscopy to diagnose and treat target diseases
3.1.1.2. Rising preference for minimally invasive surgeries
3.1.2. Market Restraint
3.1.2.1. High overhead costs of endoscopy procedures
3.1.3. Market Opportunities
3.1.3.1. Increasing investments to improve healthcare infrastructure and research areas of endoscopy
Chapter 4. Global Endoscopy Equipment Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Endoscopy Equipment Market, by Product
a. Market Snapshot
5.1. Global Endoscopy Equipment Market by Product, Performance - Potential Analysis
5.2. Global Endoscopy Equipment Market Estimates & Forecasts by Product 2018-2027 (USD Billion)
5.3. Endoscopy Equipment Market, Sub Segment Analysis
5.3.1. Endoscope
5.3.2. Visualization System
5.3.3. Other Endoscope Equipment
5.3.4. Accessories
Chapter 6. Global Endoscopy Equipment Market, by Application
b. Market Snapshot
6.1. Global Endoscopy Equipment Market by Application, Performance - Potential Analysis
6.2. Global Endoscopy Equipment Market Estimates & Forecasts by Application 2018-2027 (USD Billion)
6.3. Endoscopy Equipment Market, Sub Segment Analysis
6.3.1. Gastrointestinal Endoscopy
6.3.2. Laparoscopy
6.3.3. Obstetrics/ Gynecology Endoscopy
6.3.4. Arthroscopy
6.3.5. Urology Endoscopy (Cystoscopy)
6.3.6. Bronchoscopy
6.3.7. Ent Endoscopy
6.3.8. Mediastinoscopy
6.3.9. Other Applications
Chapter 7. Global Endoscopy Equipment Market, by End User
c. Market Snapshot
7.1. Global Endoscopy Equipment Market by End User, Performance - Potential Analysis
7.2. Global Endoscopy Equipment Market Estimates & Forecasts by End User 2018-2027 (USD Billion)
7.3. Endoscopy Equipment Market, Sub Segment Analysis
7.3.1. Hospitals
7.3.2. Ambulatory Surgery centers/Clinics
7.3.3. Other End Users
Chapter 8. Global Endoscopy Equipment Market, Regional Analysis
Related Report:
Endoscopy Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
The endoscopy market is projected to foresee commendable growth in coming years owing to increasing prevalence of various chronic diseases, growing number of ambulatory surgical centers, rising demand and popularity of laparoscopic insufflators, and high prevalence of infertility disorders and vaginal hemorrhages. Endoscopy is a nonsurgical procedures and are minimally invasive which is used to observe the digestive tract of an individual. It is the insertion of a very long, thin-type tube, straight into the body to examine a tissue or an internal organ in detail. With respect to end-use, the market is classified into ambulatory surgical centers, hospitals, and others. Ambulatory surgical segment was valued at more than USD 9,660 million in 2020 and is anticipated to grow at a CAGR of more than 7.9% through the forecast time period. This estimated growth is accredited to the growing number of ASCs and shorter stays in ambulatory surgical centers. From a regional frame of reference, in 2020, the Middle East & Africa market was valued at more than $409 million and is projected to grow at a CAGR of 8.4% over the forecast time period. This growth is majorly ascribed to the increasing prevalence of various chronic diseases.
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