Sarasota, FL -- (SBWIRE) -- 01/30/2018 -- According to the report, the global medical videoscopes market accounted for USD 15.34 Billion in 2016 and is expected to reach USD 22.77 Billion by 2022, growing at a CAGR of around 6.8% between 2017 and 2022.

The Medical Videoscopes market is growing at a fast pace. Videoscope has a wide range of application in medical procedures with minimal invasiveness which is expected as the major driving factor of this market within the forecast period. Increasing incidences of gastrointestinal diseases, increasing healthcare expenditure, shifting towards more cost effective healthcare solutions and the introduction of various healthcare reforms are some of the significant factors expected to fuel the growth in this market. However, the high cost of medical videoscopes and lack of skilled professionals are the restraints of this market.In spite of these barriers, emerging markets in developing regions like Asia-Pacific can be an opportunity in this market.

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North America dominated the global medical videoscopes market and accounted for the largest share of this market in 2016 and is expected to continue the same within the forecast period. Growth in this region is attributed to increasing in aging population, growing demand for minimally invasive procedures. Furthermore, in addition, well-developed healthcare infrastructure is also expected to foster the market growth in this region within the forecast period.

Europe is expected to witness a significant growth in this market in coming five years owing to increasing healthcare expenditures due to increased life expectancy and an aging population in Europe. In addition, increasing demand for medical videoscopes and development of healthcare infrastructure are also projected to fuel this market in this region in coming five years.

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Asia-Pacific is expected to show a rapid growth with a high CAGR in this market in the coming five years owing to increased demand for minimally invasive surgeries and the improving healthcare infrastructure in India; the establishment of training centers for endoscopy in India, China, and Japan. In addition, increasing patient awareness about minimally invasive surgeries in this region is also expected to boost this market in coming five years. Furthermore, increasing healthcare expenditure in developing countries of this region is also boost the growth in this market. Latin America and the Middle East & Africa Medical Videoscopes market is estimated to show a healthy growth within the forecast period.

Some of the key players include in the medical videoscopes market such as Stryker Corporation, ConMed Corporation, XION GmbH, Smith and Nephew plc, Fujifilm Holding Corporation, Olympus Corporation, Richard Wolf GmbH, Welch Allyn, Inc., KARL STORZ GmbH & Co. KG, and Hoya Corporation (Pentax Medical System) among others.

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