The EMEA, NA, Japan, and China Endoscopy Devices Market was valued at $25,315 million in 2014, and is expected to reach $40,854 million by 2022, registering a CAGR of 5.7% from 2016-2022.
Portland, OR -- (SBWIRE) -- 06/29/2018 -- Endoscopy devices are equipped with several other parts such as camera or light source at the tip of endoscopes that help the physicians or medical professionals (endoscopists) to analyze the internal organs of interest. The EMEA endoscopy devices market includes the countries in the European, Middle East, and African region. Europe is globally prominent for its superlative medical services and healthcare facilities, having presence of several medical device companies that are pioneers in the field of endoscopy and medical imaging.
The key factors that boost the growth of the market include increase in geriatric population that is susceptible to various chronic diseases including orthopedic diseases, gastrointestinal conditions, ophthalmic diseases, gastrointestinal (GI) cancer, and others. In addition, availability of favorable reimbursement policies and FDA approvals in developed regions coupled with the growth in preference for minimally invasive procedures supplement the market growth. However, dearth of skilled endoscopic technicians, risk of infection associated with endoscopy, and high price of endoscopy devices restrain the growth of this market. Conversely, emerging endoscopy technologies such as capsule endoscopes and robot-assisted endoscopes with lower complications, minimal scarring, reduced hospital stay, and rapid recovery are anticipated to offer profitable opportunities for the market in near future.
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Product Segment Review
The endoscopy devices market by product is segmented into endoscopy devices, visualization & documentation systems, mechanical endoscopy equipment, accessories, and other endoscopy equipment. The endoscopy device segment is the largest revenue contributor to the market. The endoscopy devices are routinely used in diagnosis and therapy of various diseases. Increase in geriatric population along with rise in disorders related to gastrointestinal tract are also prime reasons for endoscopy devices to find tremendous applications. Furthermore, the growth in awareness about endoscopy devices, preference for minimally invasive endoscopic procedures, lower postoperative complications, and a faster recovery period are few of the many reasons that make the utilization of endoscopy devices rewarding in the study period.
Application Segment Review
On the basis of application, the market is fragmented into bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuro-endoscopy, gastrointestinal endoscopy, obstetrics/gynecology endoscopy, ENT endoscopy, and others. Among the aforementioned applications the laparoscopic application has dominated the market in 2016 and is expected to continue this trend throughout the forecast period. This is attributed to the large-scale incorporation of laparoscopy to generate credible results for a proper diagnosis of chronic diseases such as hernias, cancer, and internal organ injuries. Whereas, gastrointestinal endoscopy applications registered highest growth during the forecast period. This is attributed to the soaring incidence of digestive diseases across the globe.
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Geography Segment Review
Regionally, the endoscopy devices market is analyzed across EMEA, NA, Japan, China, and others. North America is leading the overall endoscopy devices owing to increase in geriatric population and prevalence of gastrointestinal and abdominal diseases in the region. EMEA has the second largest share in the market. Growth in population, increase in affordability, and improvement in healthcare facilities are the factors that are expected to fuel the growth of China endoscopy devices market.
The report provides a comprehensive analysis of the key players operating in the endoscopy devices market such as Hoya Corporation, Olympus Corporation, Stryker Corporation, Boston Scientific Corporation, Fujifilm Holdings Corporation, Conmed Corporation Medtronic Plc, Karl Storz GmbH & Co. KG, Smith & Nephew, Plc and Johnson & Johnson. The other companies profiled in this report include B. Braun Melsungen AG, Cook Medical, Arthrex Inc., Frontier Healthcare, Minntech Corporation (Subsidiary of Cantel Medical Corp.), Advanced Sterilization Products Services Inc., Richard Wolf GmbH, STERIS Corporation, Siemens Healthcare, US Endoscopy Group.
Key Benefits for Stakeholders
- The study provides an in-depth analysis with the current trends and future estimations of the EMEA, NA, Japan, and China endoscopy devices market to elucidate the imminent investment pockets.
- Comprehensive analysis of the factors that drive and restrict the market growth is provided.
- The quantitative analysis of the industry from 2014 to 2022 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of key segments of the industry is provided to understand the types of endoscopy devices used across the EMEA, NA, Japan, and China regions.
- Key players and their strategies are analyzed to understand the competitive outlook of the market.