In China and India, large population base and acceptance of innovative procedures such as neuroendoscopy holds immense potential for endoscopy devices. Growing at 11.2% CAGR from 2011 to 2017, the Asia Pacific endoscopy devices market will be valued at US$3.4 billion in 2017 increasing from US$1.8 billion in 2011.
Albany, NY -- (SBWIRE) -- 11/18/2015 -- Economic development and healthcare infrastructure investments, mainly in India and China, are major contributors to the Asia Pacific endoscopy devices market. In the region, lifestyle changes due to increasing purchasing power combined with advancement in technology are adding significantly to overall healthcare spending and in turn the endoscopy devices market.
Product, application, and technology are the three areas on which the Asia Pacific endoscopy devices market is examined in the research report. The research report is an effort to identify factors that will be majorly driving the Asia Pacific endoscopy devices market for the study period. The high level analysis offered allows endoscopy devices product manufacturers, regulators, distributors, R&D agencies, and medical companies to make informed decisions pertaining to product design and manufacture, growth prospects, and gain a competitive edge in the market.
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Using a combination of primary and secondary research market demand, challenges and trends are analyzed in the study. Employing standard industry tools and further validating results with key market participants and industry experts, market size estimates are presented in the study. Based on product, technology, and application historical and forecast analysis in the Asia Pacific endoscopy devices market is also provided.
Included in the report are profiles of key market players to gauge contribution and standing of these players in the market.
Overview of Asia Pacific Endoscopy Market
Increasing geriatric population along with large pool of chronically-ill patients has emerged as the major demand driver for endoscopy devices in the region. Also, rise in earnings and preference for minimally invasive procedures is leading to demand for modern endoscopy surgeries. Adoption of newer technologies such as confocal microendoscopy, narrow band imaging, and HD cameras will further aid the growth of the Asia Pacific endoscopy devices market.
However, strict FDA regulations and medical device tax levied in the U.S. will have an indirect negative impact on the Asia Pacific endoscopy market. Also, high investments associated with endoscopic equipment will challenge the growth of this market.
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On the basis of products, the Asia Pacific endoscopy devices market is divided into rigid endoscopes, endoscopic visualization systems, endoscope fluid management systems, endoscopic ultrasound, flexible endoscopes, , and endoscope accessories.
The market is largely dominated by endoscopic visualization systems and flexible endoscopes; flexible endoscopes have easy accessibility and offer better diagnostic and surgical capabilities, making them highly preferred. For the period 2011-2017, the flexible endoscopes segment will rise at 11.9% CAGR.
However, the fastest growth will be exhibited by endoscopic accessories product segment at 15.6% CAGR, as per analysts' estimates. Country-wise, in 2011, Japan contributed a large revenue chunk to endoscopic visualizations systems in the market. A growing geriatric population base requiring endoscopic procedures will keep Japan firmly in the leading position for the forecast period. China, India, and Taiwan are expected to emerge as key geographical segments within the overall market.
Major Companies in the Asia Pacific Endoscopy Devices Market
Fujifilm Holding Corporation, Olympus Corporation, Boston Scientific Corporation, and Hoya Corporation, among others, are prominent players registering a presence in the Asia Pacific endoscopy devices market.
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