The
global endoscopy devices market is growing significantly due to widening
application of endoscopes, increasing popularity of minimally invasive surgery
and technological advancement in the industry. The need of minimally invasive
procedure is considerably increasing in the market, owing to decreased risk of
blood loss and infection during the surgery, smaller scar on the body, cost
saving, shorter stay in hospital and faster recovery.
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Massive
unexplored market in endoscopy devices industry of developing economies are
creating abundant opportunities for the endoscopy devices market to grow at a
considerable rate during the forecasted years. The advanced research and
development facilities and inventive product developments by the companies are
impelling the growth of the endoscopy devices industry. Endoscopes are
proficient devices to provide close examination of internal body organs and
structures, and treat diseases. It is used for monitoring different systems of
the body such as ear, nose and throat (ENT), spine, gastrointestinal,
neurological, urological and others.
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The
endoscopy devices market is categorized on the basis of product and
application. On the basis of products, the market can be categorized as
endoscopes, visualization equipment and others. The various types of endoscopes
include rigid endoscopes, robot assisted endoscopes, flexible endoscopes and
capsule endoscopes; whereas, visualization equipment includes endoscopic
ultrasound devices, standard definition visualization systems and high
definition visualization systems. On the basis of application, the endoscopy
devices market can be segmented as arthroscopy, laparoscopy, otoscopy,
gastrointestinal endoscopy, bronchoscopy, laryngoscopy, arthroscopy, urology
endoscopy, mediastinoscopy, and others.
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Some
of the factors driving the growth of the global endoscopy devices market are
increasing inclination towards minimally invasive surgeries, increasing
geriatric population, increasing demand for cost-effective procedure, and
increasing prevalence of diseases requiring minimally invasive surgery. In
addition, increasing healthcare spending, refining healthcare infrastructure,
increasing healthcare awareness, and technological advancement in endoscopy
instruments are the other factors fueling the growth of the global endoscopy
devices market. However, high cost of endoscopic procedure, and lack of trained
professionals are some of the factors restraining the growth of the endoscopy
devices market to some extent. Further, safety concerns associated with reused
endoscopes is also inhibiting the growth of the global endoscopy devices
market.
Geographically,
North America will be leading the global endoscopy devices market in the coming
years, due to presence of well-resourced and highly funded hospitals and
healthcare institutes, and growing geriatric population. In addition, increased
use of technologically advanced instruments for treating and diagnosis of
disease also drives the growth of the market in North America. Asia-Pacific is
the fastest growing region in the global endoscopy devices market. The major
reasons for the fastest growth of endoscopy devices market in the region are
increasing healthcare expenditure, huge pool of patients, increasing government
support, and increasing demand for endoscopic surgeries in the region.
Moreover, the endoscopy devices market is growing due to increasing awareness
of minimally invasive surgeries, and establishment of training centers for
endoscopy in the emerging countries, such as India and China, of Asia-Pacific
region
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