Albany, NY -- (SBWIRE) -- 01/04/2019 -- Endoscopy devices are mainly utilized for overall monitoring of different systems present in the human body such as urological, cardiovascular, gastrointestinal, neurological, and many others. From an overall perspective, these devices are majorly utilized in diagnostic and surgical procedures, mainly to gain visual access to the body.
As per expert analysts, the global endoscopy devices market is projected to gather revenue worth US$36,897.0 mn in 2019, compared to the earlier revenue figure clocked at US$24,904.4 mn in 2012. This growth is expected to occur at a healthy CAGR of 6.8% during the forecast period from 2013 to 2019.
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Device Type Depicts Presence of Several Leading Segments Owing to High Availability
The global endoscopy devices market is segregated into various segments mainly on the basis of device type, application, and region. Under device type, there further are several sub-categories such as endoscope, operative devices, visualization systems, and high definition (HD) visualization systems. Under endoscope type, rigid endoscope, robot assisted endoscope, flexible endoscope, and capsule endoscope, are key segments. From the perspective of operative devices, the global endoscopy devices market is divided into energy systems, suction/irrigation systems, access devices, operative hand instruments, and others. Under visualization systems, ultrasound devices and standard definition (SD) visualization systems comprise the major segments. Whereas, under the last category, two dimensional (2d) systems and three dimensional (3d) systems make up the chief segments in the global endoscopy devices market.
Gastrointestinal surgeries, urology/gynecology surgeries, ENT surgeries, cardiovascular surgeries, neuro/spinal surgeries, laparoscopy surgeries, and arthroscopy surgeries, are prime segments under the applications criteria.
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Under device type, extensive studies by market experts pegs the capsule endoscope, rigid endoscope, robot-assisted endoscope, and flexible endoscope as leading segments, under their respective sub-categories. This is mainly due to several advantages associated with using the devices such as less complex operability, high efficiency, high availability in the market, and many others.
Large-Scale Adoption of Endoscopy Devices Makes North America Dominate the Market
Geography-wise, the global endoscopy devices market is spread across North America, Asia Pacific, Europe, and Rest of the World. Of these, North America holds a leading position in the market, mainly due to the presence of highly advanced medical and healthcare infrastructure. Moreover, a favorable reimbursement scenario exists in this region, which further supports the relevant growth happening in the global endoscopy devices market. With a rise in the use of technically advanced instruments for detection and treatment of various diseases, the market in North America is expected to continue its leading stance over the other regions. Furthermore, a high rate of acceptance regarding deployment of innovative medical approaches is also anticipated to make the endoscopy devices market grow splendidly in the North America.
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However, apart from this region, other geographical extents such as Asia Pacific and Latin America are also projected to depict excellent growth in the global endoscopy devices market. From these two regions, Asia Pacific is expected to register a fantastic growth mainly due to increasing awareness among those affected by diseases that require carrying out endoscopy, as well as widespread advancements in medical imaging devices. With great untapped opportunities resting in this region, Asia Pacific could grow at a faster CAGR than the others, in the global endoscopy devices market.
Ethicon Endo-Surgery, Covidien, Stryker Corp., Olympus, Smith & Nephew Plc, Richard Wolf GmbH, KARL STORZ GmbH & Co. KG, Intuitive Surgical Inc., HOYA Corp., FUJIFILM Holdings Corp., Cook Medical Inc., Boston Scientific Corp., Braun Melsungen AG, and Arthrex Inc., are key players operating in the global endoscopy devices market.
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