According to a report by Allied Market Research titled “South Asia Flexible Endoscopes Market by Application (Bronchoscopy, Arthroscopy, Laparoscopy, Urology Endoscopy, Neuroendoscopy, Gastrointestinal Endoscopy, Obstetrics/Gynecology Endoscopy, ENT Endoscopy, Clinics, etc.) : Industry Opportunity Analysis and Forecast, 2017 – 2025. The report provides detailed analysis of changing market dynamics, leading segments, value chain, key investment areas, regional scenario and competitive landscape.
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India to retain its lead throughout forecast period
India held the major share in the market in 2017, accounting for nearly two-thirds of the total market revenue. This is due to the significant rise in demand for minimally invasive procedures for treating chronic conditions such as cancer and arthritis. This region is expected to retain its revenue lead throughout the forecast period due to faster growth in medical tourism and low cost of procedures. However, Nepal is projected to grow at the highest CAGR of 11.2% from 2018 to 2025, owing to the growing awareness about medical endoscopes and establishment of new facilities in remote regions of the country. The report also provides a detailed analysis of Pakistan, Bangladesh, Sri Lanka, and rest of South Asia.
The laparoscopy segment will maintain its dominance throughout the forecast period
The laparoscopy segment contributed more than one-third of the total market revenue in 2017 and is expected to continue to dominate during the forecast period. This is due to the increase in the obese population and the increased demand for minimally invasive bariatric surgery. However, the gastrointestinal endoscopy segment is expected to witness the highest growth at a CAGR of 8.3% from 2018 to 2025 due to rising health awareness, growing geriatric population, and increasing adoption of minimally invasive techniques. The study further analyzes bronchoscopy, arthroscopy, urological endoscopy, neuroendoscopy, obstetrics and gynecology endoscopy, ENT endoscopy and others.
Share of hospitals to maintain the lion’s share until 2025
The hospital segment accounted for more than half of the total market revenue in 2017 and will continue to lead it until 2025. This is because hospitals are well equipped with endoscopy systems that meet the various needs of endoscopic procedures. On the other hand, the clinic segment is expected to grow at the highest CAGR of 8.9% during the forecast period, 2018-2025, owing to the increasing applicability of flexible endoscopes in medical facilities. The research also examined other end users, consisting of stand-alone diagnostic laboratories and academic research centers.
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Leading market players –
The key market players analyzed in the report include Boston Scientific Corporation, Fujifilm Holdings Corporation, Conmed Corporation, Johnson & Johnson (Ethicon, Inc.), HOYA Corporation, Olympus Corporation, Karl Storz GmbH & Co Kg, Vimex sp. z.o.o. (Vimex endoscopy), and Stryker Corporation. They have adopted various strategies including partnerships, expansions, mergers & acquisitions, joint ventures, collaborations, and others to gain a strong position in the market.
Key Findings of the South Asia Flexible Endoscope Market:
- Laparoscopy application accounted for approximately one-third share of the market in 2017.
- India accounted for more than two-thirds market share in 2017 and is expected to maintain this trend throughout the forecast period.
- The hospitals segment is anticipated to grow at a CAGR of 6.2% from 2018 to 2025.
- The gastrointestinal endoscopy segment is estimated to grow at the highest CAGR of 8.3% during the forecast period.
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