Selbyville, Delaware, Feb. 11, 2021 (GLOBE NEWSWIRE) --
According to latest report “Endoscopy Market by Product (Endoscopes {Rigid Endoscopes, Flexible Endoscopes, Capsule Endoscopes, Robot-Assisted Endoscopes}, Visualization Systems, Endoscopic Ultrasound, Insufflator), Application (Arthroscopy, Laparoscopy, GI endoscopy, Obstetrics/Gynaecology, ENT endoscopy, Pulmonary Endoscopy), End-use (Hospitals, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights, Inc., the market valuation of endoscopy will cross $52 billion by 2027.
Growing demand for innovative endoscopic devices in Europe and North America will stimulate the market growth. The regions of North America and Europe are witnessing a huge increase in incidences of chronic conditions. Therefore, people are being highly recommended to undergo endoscopies that is augmenting the demand for innovative endoscopic devices. Therefore, several industry players are focusing on enhancing visualization and navigation of their endoscopes that is contributing to the market expansion.
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Growing preference for minimally invasive procedures will uplift the endoscopy market value. Minimally invasive surgeries are increasingly being preferred to treat the patients with cancer disorders in order to reduce the intensity of pain. Moreover, elderly patients majorly prefer undergoing minimally invasive procedures due to low or no risk of complications and quicker recovery as compared to open surgery. These factors are potentially expanding the demand for endoscopic devices and is contributing to the market demand positively.
Endoscopic ultrasound segment accounted for USD 1.21 billion in 2020 and is anticipated to showcase 8.1% growth rate till 2027 led by the significantly improved technology of endoscopic ultrasound devices. In the past few years, innovative design of equipment and devices has broadened the utility of EUS as diagnostic and therapeutic tools.
GI endoscopy segment in the endoscopy market was valued USD 6.91 billion in 2020 impelled by growing incidences of gastrointestinal disorders. Gastrointestinal tumors is one of the leading causes of deaths across the globe. Furthermore, the United European gastroenterology is engaged in spreading awareness pertaining to GI disorders and research initiatives, thereby fueling the number of GI endoscopies.
Hospital segment exceeded USD 15.58 billion in 2020 propelled by improving healthcare systems. Increasing government and private funding as well as the growing preference among physicians and patients for endoscopic procedures is boosting the demand for endoscopic devices. Additionally, easy availability of medical devices in hospital settings is contributing to the industry growth.
Brazil dominated the Latin America endoscopy market and accounted for USD 321 million in 2020 owing to the increasing technological advancements and growing number of patients suffering from gastrointestinal disorders that has augmented the demand and supply of endoscopic devices in the country. The World Endoscopy Organization (WEO) organized ENDO 2020 in order to educate people regarding endoscopy, gastroenterology, hepatology and oncology. In addition, rise in number of skilled healthcare professionals is leading to an increase in number of endoscopic procedures.
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Some of the major players operating in the endoscopy market are B.Braun Melsungen AG, Boston Scientific, Conmed Corporation, Cook Medical LLC, Ethicon US, LLC, Fujifilm Corporation, Hoya Corporation, Storz, Medtronic, Olympus Corporation, Richard Wolf GmbH, Smith & Nephew PLC, Stryker. These companies are engaged in research and development of innovative and novel endoscopic products.
Table of Contents (ToC) of the report:
Chapter 3 Endoscopy Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By application
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Porter’s analysis
3.8 Competitive landscape, 2019
3.9 PESTEL analysis
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https://www.gminsights.com/toc/detail/endoscopy-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.