Endoscopy Equipment Market: Growing Investments in Endoscopy Facilities

 

What This Report Will Provide?

This study involved four major activities in estimating the current size of the endoscopy equipment market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Expected Revenue Growth:

The global endoscopy equipment market to reach USD 35.23 billion by 2024 from an estimated USD 25.59 billion in 2019 at a CAGR of 6.6%

Major Growth Boosters:

The key factors driving the growth of this market include growing demand for endoscopy, growing investments, funds, and grants, rising number of hospitals and growing hospital investments in endoscopy facilities, and technological advancements. However, unfavorable healthcare reforms in the US, and high cost of endoscopy procedures & equipment and limited reimbursement in developing countries are expected to restrain the growth of this market.

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Recent Developments:

In 2019, Olympus launched small intestine endoscopy system “PowerSpiral” in Europe and parts of Asia, including Hong Kong and India

In 2018, Olympus launched ENF-VT3, the world’s first rhino-laryngo videoscope to incorporate 4-direction angulation capability.

In 2018, KarlStroz launched 4 mm Endoscopic NIR/ICG Fluorescence Imaging System to enhance minimally invasive neurosurgery

Key Questions Addressed in The Report:

1. Who are the top 10 players operating in the global endoscopy equipment market?
2. What are the drivers, restraints, opportunities, and challenges in the endoscopy equipment Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of endoscopy equipment in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?

Regional Growth Analysis:

Geographic segments in this report include North America, Europe, Asia Pacific, and RoW. Of these, the North American segment accounted for the largest share of the market in 2018. The large share of North America in the global endoscopy equipment market is attributed to the favorable reimbursement scenario in the US, rising incidence of cancer, increasing investments by hospitals to purchase new endoscopic equipment, and increasing research activities to improve endoscopy, and the implementation of a new funding model for Canadian hospitals.

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Key Players:

The major players in this market include Olympus (Japan), KARL STORZ (Germany), Stryker (US), Boston Scientific (US), Ethicon (US), Fujifilm Corporation (Japan), Medtronic (Ireland), Hoya Corporation (Japan), Richard Wolf GmbH (Germany), Smith & Nephew (UK), Cook Medical (US), and B. Braun (Germany).

The Olympus Corporation was a dominated the endoscopy equipment market in 2018. In the field of endoscopy, the company offers endoscopes, visualization systems, other endoscopy equipment, and accessories. These products are offered under categories such as gastroscopes, colonoscopes, laparoscopes, bronchoscopes, hysteroscopes, mobilescopes, laryngoscopes, cystoscopies, ureteroscopes, telescopes, endoscopic ultrasound, sphincterotomy, energy devices, imaging systems, camera heads, capsule endoscope sets, insufflation units, and non-capital equipment, among others.