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Endoscopy Devices Market Worth $58.1 Billion by 2025 | CAGR: 7.4%: Grand View Research, Inc.
SAN FRANCISCO, Aug. 27, 2019 /PRNewswire/ -- The global endoscopy devices market size is expected to reach USD 58.1 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 7.4% during the forecast period. Growing preference for minimally invasive endoscopic procedures, increasing geriatric population, and increase in prevalence of target gynecological, urological, & gastrointestinal diseases are key factors contributing to market growth. Technological advancements in endoscopes and visualization systems are also positively impacting the market.
Key suggestions from the report:
- By product, endoscopy visualization systems emerged as the largest product segment in 2018, with a revenue share of 42.7%
- By application, gastrointestinal endoscopy accounted for the largest revenue share in 2018. Meanwhile, urological endoscopy is expected to grow at the fastest CAGR over the forecast period
- Hospitals emerged as the leading end-use segment, while ambulatory surgery centers is expected to show a significant growth rate
- North America accounted for the largest market, due to a favorable reimbursement framework, high disease prevalence, growing geriatric population, and rapid adoption of minimally invasive endoscopic procedures
- Asia Pacific is anticipated to show a lucrative CAGR of 8.6% over the forecast period, owing to substantial economic growth, high prevalence of cancer, improvement in healthcare infrastructure, and increase in awareness about minimally invasive surgeries
- Olympus Corporation; Fujifilm Holdings Corporation; Ethicon Endo-Surgery, LLC; Stryker Corporation; Medtronic; Richard Wolf Gmbh; Boston Scientific Corporation; Karl Storz; and CONMED Corporation are leading players.
Read 150 page research report with TOC on "Endoscopy Devices Market Size, Share, And Trends Analysis Report By Product (Endoscopy Visualization Systems), By Application (GI Endoscopy), By End Use (Hospitals), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/endoscopy-devices-market
High demand for endoscopes, visualization systems in diagnostics, and therapeutics for various target diseases plays a vital role in increasing revenue. Growing preference for minimally invasive surgical alternatives, such as laparoscopy, hysteroscopy, and colonoscopy, to open surgeries is reinforcing demand for endoscopic devices. The shift toward minimally invasive procedures can attributed to the associated benefits, such as better patient satisfaction, economic viability, relatively shorter hospital stays, and reduced postsurgical complications. Growth of the market can also be attributed to increasing preference for HD visualization systems by healthcare professionals, due to their better imaging capabilities. They help in diagnosis and treatment of complex diseases, such as cancer, GI disorders, lung disorders, and urinary disorders and are minimally invasive.
Availability of technologically advanced devices, such as HD visualization systems, robot-assisted endoscopes, disposable endoscopes, and HD resolution camera heads is also driving the market. Market players such as Stryker Corporation, Olympus Corporation, and Ethicon Endo-Surgery, LLC are investing on R&D to improve existing products along with launch of new products, which is expected to drive the endoscopy devices market further. For instance, in 2016, Olympus launched the VISERA 4K UHD surgical system equipped with a 55-inch primary operative HD display, to enhance minimally invasive surgical procedures. It also launched a 3D surgical endoscope in June 2017, which was compatible with the VISERA ELITE II HD imaging system. In March 2018, Auris Health, Inc. received FDA approval for the Monarch Platform—a new robotic endoscopic system. This platform uses 3D imaging to facilitate depth perception, thereby enabling high precision in surgeries.
Grand View Research has segmented the endoscopy devices market on the basis of product, applications, end use and region:
- Endoscopy Devices Product Outlook (Revenue, USD Million, 2014 - 2025)
- Rigid Endoscopy Devices
- Urology Endoscopy Devices
- Gynecology Endoscopy Devices
- NeuroEndoscopy Devices
- Other Rigid Endoscopy Devices
- Flexible Endoscopy Devices
- Upper Gastrointestinal Endoscopy Devices
- Other Flexible Endoscopy Devices
- Capsule Endoscopy Devices
- Disposable Endoscopy Devices
- Robot Assisted Endoscopy Devices
- Endoscopy Visualization Systems
- Standard Definition (SD) Visualization Systems
- 2D systems
- 3D systems
- High Definition (HD) Visualization Systems
- 2D systems
- 3D systems
- Ultrasound Devices
- Endoscopy Visualization Components
- Camera Heads
- Light Sources
- High Definition Monitors
- Suction Pumps
- Video Processors
- Operative Devices
- Energy Systems
- Access Devices
- Suction & Irrigation Systems
- Hand Instruments
- Wound Retractors
- Endoscopy Devices Application Outlook (Revenue, USD Million, 2014 - 2025)
- Gastrointestinal (GI) endoscopy
- Urology Endoscopy (cystoscopy)
- Obstetrics/Gynecology Endoscopy
- Other applications
- Endoscopy Devices End-use Outlook (Revenue, USD Million, 2014 - 2025)
- Ambulatory Surgery Centers
- Other End Uses
- Endoscopy Devices Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- New Zealand
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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