Endoscopy Devices Market Prognosticated to be 44.32 Billion USD by 2025

LAS VEGAS, June 19, 2018 /PRNewswire/ --

The report "Endoscopy Devices Market by Product (Rigid Endoscopes, Flexible Endoscopes, Capsule Endoscopes, and Robot-Assisted Endoscopes), Application (Gastrointestinal Endoscopy, Laparoscopy, Urology Endoscopy, Arthroscopy, Obstetrics/Gynecology Endoscopy, Mediastinoscopy, Bronchoscopy, Laryngoscopy, Otoscopy, and Other Applications), End User (Hospitals and Clinics, Ambulatory Surgical Centers, Mobile Endoscopy Units, and Office Based Setting) - Global Forecast to 2025", issued by Crystal Market Research, the market size for the Endoscopy Devices is proposed to grow from an expected USD 26.8 billion in 2016 to USD 44.32 billion by 2025, at a CAGR of 5.89% from 2016 to 2025.

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Flexible endoscopes were leading in the product segment of endoscopy devices market in 2015 and is anticipated to sustain the same market position. 

Varied use of flexible endoscopes for treating and diagnosing several diseases like diseases related to gallbladder which is followed by several patients preferring this procedure since it promotes shorter time for recovery owing to its reduced post-operative complications. These devices also have the potential to go into the in-depth cavities and viscera which is otherwise not perceptible to the naked eye. Also, in recent times, capsule endoscopes are emerging and have opened up novel opportunities in the field of endoscopy.

Gastrointestinal endoscopy application is estimated to grow at a most rapid CAGR of 5.61% 

Also, laparoscopy segment is prognosticated to spawn a greater revenue during the forecast period. The reason is attributed to the ascending demand of each as the increase in aged population is directly proportionate to the escalation in number of GI tract diseases.

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In terms of End User, the Hospital segment is predicted to uphold its domination in the analysis period. 

Amongst the other end users of the endoscopy devices market, hospital segment leads, owing to the presence of varied endoscopy facilities and preferred reimbursement policies. Majority hospitals are technologically enhanced and well-equipped and have the latest endoscopic devices. Nevertheless, shortage of skilled labor which are required to function the endoscopy devices having advanced technology is termed to considerably restrain the global market.

North America will dominate other regions in the race of endoscopy devices global market, followed by Europe. 

In North America, the United States alone was responsible for more than 92% market share in 2015. This is owing to the increasing incidences of chronic diseases along with the rise in old-age population, escalated rate of adoption of technologically enhanced devices, and more and more awareness pertaining to the advantages of the endoscopes. In Asia Pacific, Japan is a major contributor to the lucrative market share of the Asia-Pacific endoscopy devices market.

Bigger market players such as Olympus Corporation has a stronger hold in almost all major countries owing to the introduction of novel technologies and products which render the initial advantage. For instance, Olympus launched endoscopes with narrow band imaging (NBI), which enables the user to gauge more precision on the vision field. A few of the other market player in this industry are Medtronic plc, US Endoscopy, Ethicon US, LLC., Cook Group Incorporated, Olympus Corporation, Richard Wolf GmbH, FUJIFILM Holdings Corporation, Smith & Nephew PLC, KARL STORZ GmbH & Co. KG, PENTAX Medical, Boston Scientific Corporation, Stryker Corporation,  CONMED Corporation, B. Braun Melsungen AG and Siemens AG.

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SOURCE Crystal Market Research