Portland, OR, July 08, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global Endoscopy Devices for Obesity, Type II Diabetes and Nash Market generate $2.63 billion in 2019, and is expected to reach $3.71 billion by 2028, growing at a CAGR of 7.6% from 2021 to 2028.
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Rise in obese population, surge in prevalence of chronic diseases that require endoscopy devices, shorter recovery time and minimal postoperative complications, and favorable FDA approvals have boosted the growth of the global endoscopy devices for obesity, type II diabetes and NASH market. Moreover, advancements in technologies and rise in patient preference for minimally invasive surgeries supplement the market growth. However, infections caused by endoscopes and lack of skilled physicians and endoscopists hamper the market growth. On the contrary, unmet medical needs in the developing countries would open lucrative opportunities for the market players in the future.
Covid-19 scenario:
- The pandemic affected the import & export of raw materials due to lockdown in several countries. Moreover, increase in prevalence of Covid-19 among healthcare workers led to short supply of endoscopy devices.
- Several governments imposed strict regulations regarding social distancing, which resulted in closure of manufacturing facilities. This increased the gap between supply and demand.
- The delayed shipments and production schedules coupled with delay in surgical procedures for safety reasons negatively affected the market.
The global endoscopy devices for obesity, type II diabetes and NASH market is categorized on the basis of product, procedure, disease indication, and region.
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Based on product, the market is segmented into endoscope, mechanical endoscopic equipment, visualization and documentation systems, accessories, and other endoscopy equipment. The endoscope segment held the lion’s share in 2019, contributing to around three-fifths of the market. Moreover, the segment is expected to showcase the highest CAGR of 8.2% during the forecast period.
On the basis of procedure, the market is classified into gastric balloon, aspiration therapy, endoscopic sleeve gastroplasty, gastric injection, and lap band surgery. The endoscopic sleeve gastroplasty segment dominated the market in 2019, accounting for more than three-fifths of the market. The segment is expected to manifest the highest CAGR of 8.2% during the forecast period.
The global endoscopy devices for obesity, type II diabetes and NASH market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe held the largest share in 2019, contributing to nearly two-fifths of the market. However, the market across Asia-Pacific is projected to register the highest CAGR of 9.6% during the forecast period.
The global endoscopy devices for obesity, type II diabetes and NASH market report includes an in-depth analysis of the prime market players such as Fractyl Laboratories, Apollo Endosurgery, GI Windows, GI Dynamics, Reshape LifeSciences, Inc., Aspire Bariatrics, Obalon Therapeutics, USGI Medical, Spatz Fgia and Endo Tools Therapeutics.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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