The latest market report published by Credence Research, Inc. “Global Endoscopy Devices Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global Endoscopy Devices market is anticipated to grow at a substantial CAGR of 7.90% in the upcoming years. The global Endoscopy Devices industry was estimated to be worth USD 45.9 billion in 2022 and was expected to be worth USD 78.16 billion by 2028.
Endoscopy Devices Market Key Growth Trends have been observed in the healthcare industry over the past few years. Endoscopic devices are used to diagnose and treat medical conditions through inserting a small tube equipped with a camera into the body, allowing doctors to view internal organs and tissues without invasive surgery. One of the key growth trends in this market is technological advancements that allow for more precise diagnoses and treatments, such as 3D imaging capabilities and robotic-assisted endoscopies. Additionally, an aging population has led to increased demand for endoscopic procedures due to age-related health issues.
Market Segmentation:
The Endoscopy Visualization Systems segment accounted for the largest share in the global endoscopy devices market in 2022. These visualization systems are widely adopted during endoscopy procedures and find increasing application in visualizing and diagnosing complex disease conditions such as cancer, gastrointestinal disorders, urinary disorders, and lung disorders.
The Gastrointestinal (GI) endoscopy segment was anticipated to hold a prominent share in the global endoscopy devices market in 2022. This can be attributed to the increased prevalence of functional gastrointestinal disorders and the burden of gastrointestinal illnesses, especially among the elderly population.
The Hospitals segment was expected to hold a significant share in the global endoscopy devices market in 2022. Hospitals are considered primary healthcare systems, and the preference for hospitals in the diagnosis and treatment of chronic disorders by the patient population has contributed to their prominence in the market.
Regional Dominance:
The North American region is expected to have a significant share in the global endoscopy devices market by 2022. The region is witnessing an increasing prevalence of chronic illnesses such as functional gastrointestinal disorders, cancer, diabetes, and cardiovascular diseases. The rise in the aging population, who are more prone to chronic illnesses, has led to a greater use of endoscopic procedures in this region.
Key Countries:
China was anticipated to hold a prominent share in the global endoscopy devices market in 2022. The country’s large population and the growing number of patients with functional gastrointestinal disorders have contributed to its prominence in the market. The strengthening healthcare infrastructure and rising demand for minimally invasive endoscopic techniques are expected to further accelerate market expansion in China.
The United States was also expected to hold a significant share in the global endoscopy devices market in 2022. The region is experiencing a rise in digestive disorders such as gastrointestinal cancers, gastroesophageal reflux disease (GERD), and inflammatory bowel disease (IBD). Endoscopy devices play a crucial role in the diagnosis, treatment, and surveillance of these conditions, driving the demand for these devices in the region.
Impact of the Economy:
The North American region was anticipated to hold a prominent share in the global endoscopy devices market in 2022. Rising income levels, expanding middle-class population, and government initiatives to improve healthcare infrastructure have led to increased healthcare spending. This, in turn, drives the demand for advanced medical devices such as endoscopy devices in the Asia Pacific region.
Competitive Environment:
The endoscopy devices industry is highly competitive, with major players focusing on research and development activities to develop innovative devices with advanced features and improved functionalities. Companies like Olympus Corporation, Ethicon Endo-surgery LLC., FUJIFILM Holdings Corporation, Stryker Corporation, Boston Scientific Corporation, Karl Storz
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Endoscopy Devices Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the By End-use Outlook and Application
- Major nations in each region with their import/export statistics
- The global Endoscopy Devices Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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