New York, United States , Oct. 31, 2022 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the Global Endoscopy Devices Market Size to grow from USD 42.7 billion in 2021 to USD 81.8 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 7.5% during the forecast period. Endoscopic equipment is less invasive, and post- and pre-procedure costs are low. These are the main reasons why the market is expected to grow during the forecast period. Over time, the market is also expected to grow faster as the trend moves toward using disposable endoscopic parts to lower the cost of the operation and the risk of cross-contamination. This is likely to be a major factor in the market's growth.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The endoscopes segment to account for the largest market size during the forecast period
Based on the type of device, the endoscopy devices market is categorized into Endoscopes, Endoscopic Operative Device, and Visualization Equipment. The endoscopes segment to account for the largest market size during the forecast period. Market growth is expected to be driven by the need for endoscopic tools that are both affordable and technologically advanced, as well as those that use a minimally invasive method. Endoscopic devices include endoscopic cameras, SD visualization cameras, and HD visualization cameras. Compared to SD visualization cameras, endoscopic and high-definition (HD) visualization cameras make a lot more money on the market.
Browse key industry insights spread across 199 pages with 114 market data tables and figures & charts from the report "Global Endoscopy Devices Market Size, Share, and COVID-19 Impact Analysis By Type of Device (Endoscopes, Endoscopic Operative Device, and Visualization Equipment), By Application (Gastroenterology, Pulmonology, Orthopedic Surgery, Cardiology, ENT Surgery, Gynecology, Neurology, and Other Applications), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2030. ” in detail along with the table of contents
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The gastroenterology segment to hold a higher CAGR during the forecast period
Based on the application, the endoscopy devices market is categorized into Gastroenterology, Pulmonology, Orthopedic Surgery, Cardiology, ENT Surgery, Gynecology, Neurology, and Other Applications. The gastroenterology segment to hold a higher CAGR during the forecast period. Compared to other applications, this one has a much larger market. Several important things are helping this market segment grow. Some of these are the growing number of older people around the world and the rise in the number of people with gastrointestinal diseases and other cancers.
Asia-Pacific to hold a higher CAGR during the forecast period.
The Global Endoscopy Devices Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. North America is estimated to account for the highest market share in 2022. It is thought that this is because of several long-term illnesses, such as cancer, diabetes, heart diseases, and functional gastrointestinal problems. Endoscopic surgeries are also needed more in this area because the number of elderly people is growing. Older people are more likely to have several chronic diseases, so they need more of them. Also, more and more people are becoming aware of how important it is to catch illnesses early by using minimally invasive treatments. This, along with an improved healthcare infrastructure, is helping the market growth in this area.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Endoscopy Devices Market include Fujifilm, Holdings Corporation, Stryker Corporation, Karl Storz GmbH & Co. KG, Smith & Nephew Inc., Richard Wolf GmbH, Pentax Medical, Ambu Inc., Hoya Corporation, NEC Corporation, 3NT Medical Ltd, and Machida Endoscope Co. Ltd.
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