Albany, NY -- (SBWIRE) -- 09/05/2018 -- The global Endoscopy Devices Market depicts the presence of a highly competitive and fragmented vendor landscape, says Transparency Market Research on the basis of a newly published report. Such an intensive competition is mainly present due to innumerable players existing in the market. Most players are fiercely focusing on research and development to expand their product portfolio. This is further expected to make them maintain a concrete stronghold in the market from a geographical perspective too. The competitive intensity is projected to rapidly increase in the next few years owing to numerous new players making their foray in the global endoscopy market on a regular basis.
Boston Scientific Corp., Stryker Corp., Cook Medical Inc., Richard Wolf GmbH, Smith & Nephew Plc, Intuitive Surgical Inc., Arthrex Inc., HOYA Corp., FUJIFILM Holdings Corp., KARL STORZ GmbH & Co. KG, and Braun Melsungen AG, are key players operating in the global endoscopy devices market.
The global endoscopy devices market had gained a revenue worth US$24.9 bn in 2012, which is further expected to increase up to US$36.9 bn by 2019. This growth is anticipated to occur at a rising CAGR of 6.80% during the forecast period from 2013 to 2019.
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A rapidly growing preference for minimally invasive surgeries has boosted the global endoscopy devices market, mainly due to the devices being characterized by this aspect. Endoscopy procedures are substantially more efficient than their old alternatives, and give faster and better results. These factors have made the global endoscopy device market to experience vast growth, thereby making them prefer using the associated methods. Rapidly developing economic conditions in several regions has made it easier for proliferation of endoscopy techniques, thus sparking a substantial growth in the global endoscopy devices market.
High cost of endoscopy operations could discourage people from opting for these thus restraining the market’s growth. This could highly occur in several economies located mainly in developing and underdeveloped regions of Asia Pacific and Latin America, where the per capita gain of gross income is comparatively less. Lack of skilled workforce needed to operate high-tech endoscopy instrumentation in these regions is also known to substantially restrict the global endoscopy devices market. Furthermore, a shortage of endoscopy devices in remote regions also is restraining the market on a regional scale. However, many companies are projected to introduce cost effective endoscopy solutions during next few years, thus obliterating most of the restraints affecting the global endoscopy devices market.
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