Increase in adoption of innovative endoscopy devices such as capsule endoscopes and robot-assisted endoscopy along with ultra-high-definition visualization systems is anticipated to boost the market growth in the coming years. According to a new report published by Allied Market Research, titled, “Endoscopy Devices Market by Product, Hygiene, Application, and End User: Opportunity Analysis and Industry Forecast, 2019–2027,” The global endoscopy devices market size was valued at $31.78 billion in 2019, and is projected to reach $43.82 billion by 2027, at a CAGR of 4.1% from 2019 to 2027.
Endoscopy is a minimally invasive medical procedure that diagnoses, prevents, and treats complications associated with visceral organs. Endoscopes are used in this procedure to examine interior hollow organs or cavities in the body. These devices are either placed in the body through natural openings or cavities (such as anus and mouth) or through incisions, especially in case of arthroscopy. Endoscopy devices are equipped with several other parts such as camera or light source at the tip of endoscopes that help physicians or medical professionals (endoscopists) to analyze internal organs of interest. Endoscopy may be used to investigate symptoms in digestive system, including nausea, vomiting, abdominal pain, difficulty swallowing, and gastrointestinal bleeding.
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Impact Of Covid-19 On Endoscopy Devices Market (Pre And Post Analysis)
The COVID-19 pandemic has had a major global impact on endoscopic services. Furthermore, the infection is transmitted through contact and droplets. Therefore, healthcare providers of endoscopy are facing tremendous risk during the pandemic as the spread is mainly through direct contact or aerosol droplets, and endoscopy procedures require a short physical distance between patients and personnel. A report from Hong Kong, based on experience with SARS, showed that the risk of infection is 5% for physicians, 4% for nurses, and 8% for healthcare assistants. It emphasized the importance of practicing strict isolation, infection control measures, and adherence to use of personal protective equipment (PPE). All these factors are anticipated to impact the endoscopy devices market as well in the future.
Key Findings Of The Study
By product, the endoscope segment was the major revenue contributor in 2019, and is anticipated to continue this trend during the forecast period.
Depending on hygiene, the sterilization segment is expected to exhibit the highest CAGR with 5.3% during the forecast period.
By application, the gastrointestinal endoscopy segment was the largest revenue contributor in 2019, and expected to continue this trend from 2019 to 2027.
U.S. generated the highest revenue in the global endoscopy devices market in 2019, accounting more than one-third of the global market in 2019.
Asia-Pacific is anticipated to grow at a highest CAGR during the forecast period.
Key Market Segments
By Hygiene
Single-use
Reprocessing
Sterilization
By Application
Bronchoscopy
Arthroscopy
Laparoscopy
Urology Endoscopy
Neuroendoscopy
Gastrointestinal Endoscopy
Gynecology Endoscopy
ENT Endoscopy
Others
Major players operating in the endoscopy devices market include HOYA Corporation, Olympus Corporation, Stryker Corporation, Boston Scientific Corporation, Fujifilm Holdings Corporation, CONMED Corporation, Medtronic Plc, Karl Storz GmbH & Co. KG, Smith & Nephew, Plc, Johnson & Johnson, and Medrobotics Corporation.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.