NEW YORK, Dec. 16, 2015 /PRNewswire/ -- Endoscopy involves the examination of the internal organs and cavities of the body using an endoscope. Endoscopy equipment finds applications in various procedures like laparoscopy, gastrointestinal endoscopy, arthroscopy, obstetrics/gynecology endoscopy, urology endoscopy, bronchoscopy, mediastinoscopy, otoscopy, and laryngoscopy.
Over the years, the global healthcare industry has witnessed a paradigm shift and is now increasingly focusing on minimally invasive therapies that not only cure serious illnesses but also have fewer side effects. In the past decade, the demand for endoscopy has increased significantly, largely because of patient preference for minimally invasive surgeries, low-risk procedures, and favorable health insurance coverage. Technological advancements and breakthroughs in the field of endoscopy are expected to drive the growth of the global endoscopy equipment market in the coming years. Advancements in technology have also resulted in several improvisations, including increased angles in the field of view in endoscopes, reduced outer diameters of scopes, endoscopy systems that are integrated with high-resolution technologies such as 3D systems, and miniaturized endoscopy systems. The majority of leading players in the endoscopy equipment market are launching innovative products using advanced technologies to address the specific demands of their consumers, thereby stimulating the sales of their endoscopy equipment. Other factors that are driving the growth of the global endoscopy equipment market include a favorable reimbursement scenario in select geographies and increasing prevalence/incidence of diseases requiring endoscopy procedures.
In 2015, the endoscopes segment is expected to account for the larger share of the global endoscopy equipment market, by product, while the laparoscopy segment is expected to account for the largest share of endoscopy equipment market, by application.
In 2015, North America is expected to account for the largest share of the global endoscopy equipment market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). North America's large share is attributed to the favorable reimbursement scenario in the U.S., increasing incidences of cancer in the U.S. and Canada, research on new technologies in the U.S., and the implementation of a new funding model for Canadian hospitals. In the coming years, the endoscopy equipment market is expected to witness the highest growth rate in the Asian region, with emphasis on India, China, and Japan. The high growth in India and China can be attributed to government and venture capital investments in China in the field of endoscopy, endoscopy research support in Japan, increasing number of endoscopic surgeries & improving endoscopy infrastructure in India.
The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (agreements, partnerships, joint ventures, collaborations, geographic expansion, new product launches, and acquisitions) to increase their market shares and establish a strong foothold in the global market.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps the firms to garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of top players in the endoscopy equipment market. The report analyzes the endoscopy equipment market, by product and by application
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the endoscopy equipment market
- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for various endoscopy equipment across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the endoscopy equipment market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the endoscopy equipment market
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