The latest development in technology has introduced some futuristic products in the endoscopy devices market. This latest endoscope that is also termed as video scopes deliver superior quality image and proved to be more efficient in contrast to conventional fiber optic endoscopes. The device is basically used for finding and analyzing body based issues in the patients with low incisions. This device-based technology is considered as a great move in the medical field. The modern endoscopy devices are highly adopted owing to the delivery of comprehensive images, few risks, and user-friendly operational mode. It has been proved to be favorable in certain areas of medicine.
It was reported that the global endoscopy devices market was esteemed at USD 29,591.27 Million in 2015, and is anticipated to make returns of USD 41,813.42 Million by end of 2021, increasing at a CAGR of 6.12% between 2016 and 2021.
Earlier, there were only two types of endoscopes available in the global market such as rigid and flexible endoscopes. However, with the augmentin demand for pioneering technologies, some of the new types of endoscopes are developed. This has led to the development of robot-assisted and capsule endoscopes. Various types of operative devices integrated into the system include suction systems, power systems, access devices, and other handheld operative instruments. The visualization systems of endoscopy devices are integrated with ultrasound devices, standard definition (SD) systems, and HD systems.
Minimal invasive medical procedures are highly demanded and this trend is anticipated to fuel the endoscopy devices demand in the coming years.
If looking over the segmentation, based on the type the global endoscopy device market is bifurcated as operative devices, endoscopes, and visualization systems. In 2015, the overall endoscopy market was led by endoscope segment with the contribution of 38.41% share. In terms of various applications, the endoscopy devices market is diversified in cardiovascular surgeries, neuro/spinal surgeries, arthroscopy surgeries, gastrointestinal surgeries, urology/gynecology surgeries, ENT surgeries, arthroscopy surgeries, and laparoscopy surgeries.
The key reason for the rise in demand for endoscopy devices is due to some gastrointestinal (GI) disorders that too in bulk volume. These disorders include digestive cancer, gastro-esophageal reflux disorder, gallstones, gastroenteritis, and dyspepsia, thus driving the growth of the global endoscopy devices market.
Geographically, North America leads the global endoscopy devices market owing to the presence of superior financed healthcare institutions and well-equipped hospitals. The market growth is also attributed to the emergence of some global players this includes Pentax Medical Corporation, Stryker Corporation, Smith & Nephew plc, and Karl Storz Endoscopy.
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