The global endoscopy market is predicted to reach US$41.15 billion in 2024, witnessing growth at a CAGR of 6.75%, over the period 2020-2024. The factors such as rising healthcare expenditure, growing occurrence of chronic diseases, rising obese population, increasing elderly population and economic growth are expected to drive the market. A few notable trends include the upsurge in alcohol consumption, surging incidence of cancer cases, advent of single-use endoscopes, advances in endoscopy and rising preference for minimally invasive procedures. However, the market would be challenged by associated patient risk, dearth of skilled endoscopists & physicians and high cost of endoscopic procedures.
The global endoscopy market has been segmented on the basis of product, application and end-user. In terms of product, the global endoscopy market can be categorized into endoscopes, visualization systems, endoscopic ultrasound, insufflator and other. According to application, the endoscopy market can be segmented into gastrointestinal endoscopy, laparoscopy, urology endoscopy, arthroscopy and others. Whereas, the endoscopy market can be split into hospitals, ambulatory surgical centers (ASCs) and other end-users.
The fastest growing regional market is North America due to rising burden of cancer, increasing favorable reimbursement scenario in the region, growing obese population, growing investments by hospitals to purchase new endoscopic equipment and increasing research and development activities to improve endoscopy. Further, the sudden outbreak of COVID-19 is causing an adverse disruption on the overall economy and society, affecting the rate of endoscopic procedures, which is expected to negatively impact the growth of the global endoscopy market during the forecasted period.
Scope of the report:
• The report provides a comprehensive analysis of the global endoscopy market segmented on the basis of product, application, end-user and region.
• The major regional and country markets (North America, Europe, Asia Pacific and Rest of the World) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Johnson & Johnson (Ethicon Endo-Surgery Inc.), Medtronic PLC, FUJIFILM Holdings Corporation, Boston Scientific Corporation, Olympus Corporation and Ambu A/S) are also presented in detail.
Key Target Audience:
• Endoscopic Device Manufacturers
• Endoscopic Device Service/Equipment Providers and Distributors
• End Users (Hospitals, Ambulatory Surgery Centers & Diagnostic Centers)
• Government Bodies & Regulating Authorities