Dallas, TX -- (SBWIRE) -- 06/25/2014 -- The “Endoscopy Equipment Market by Endoscopes (Rigid, Flexible, Capsule), by Visualization Systems (HD, 3D Camera, Wireless Display & Monitor), Others (Endoscopic Ultrasound, Carts), by Application (Colonoscopy, GI Endoscopy) - Global Forecasts to 2018 ” analyzes and studies the major market drivers and restraints in North America, Europe, Asia, and the Rest of the World.
Browse 183 market data tables and 83 figures spread through 511 pages and in-depth TOC on “Endoscopy Equipment Market "
Over the years, the demand for endoscopy has increased significantly because of the growing preference for minimally invasive surgical procedures. Apart from being minimally invasive, endoscopic procedures are also cost effective in terms of pre- and post-operation care costs and length of stay at hospitals.
Endoscopy systems have a huge market demand across the globe owing to their wide application areas as well as their flexibility in terms of specification of instruments, which fits in with the various requirements of different procedures. The market has seen an extraordinary amount of technological advancements and breakthroughs in the last few years, as companies have focused on developing products that are capable of reducing pain, curtailing the number of sick days, and reducing the overall cost of the treatment. The global endoscopy equipment market was estimated at $28.2 billion in 2013 and is expected to reach $37.9 billion by 2018, growing at a CAGR of 6.1% from 2013 to 2018.
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The technological advancements and breakthroughs in the field of endoscopy are expected to drive the global market in the coming years. These technological developments have resulted in several improvisations, including increased angles in the field of view in endoscopes, incorporation of high-resolution technologies such as 3D systems, capsule endoscopes, and miniaturized endoscopy systems. The other factors that are driving the growth of the global endoscopy equipment market include the favorable reimbursement scenario in select geographies, growing aging population, and increasing prevalence/incidence of diseases that require endoscopy procedures.
North America holds the largest share of the global endoscopy equipment market, followed by Europe and Asia. However, the growth in the endoscopy market is likely to be focused on the fast-growing Asian region owing to increased healthcare spending by the government in China; the increasing number of endoscopic surgeries; the improving endoscopic infrastructure in India; the establishment of training centers for endoscopy in India, China, Japan, and others; wide support for endoscopy-related research activities in Japan; and increased patient awareness about minimally invasive surgeries (MIS) in Asia.
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The Rest of World (RoW) region—which includes South America, the Middle East and North Africa, and the Pacific countries—is likely to witness steady growth in the endoscopy market. This is due to the increasing focus of key players on the Middle Eastern countries and Brazil, the increasing number of endoscopy training workshops and investments in Australia, and several government initiatives in New Zealand to develop an efficient workforce for endoscopy services.
The major players in the global endoscopy equipment market include Ethicon (Johnson & Johnson) (U.S.), Olympus Corporation (Japan), Covidien Plc (Ireland), Karl Storz GmbH (Germany), Boston Scientific, Inc. (U.S.), Stryker Corporation (Japan), Cook Medical Incorporated (U.S.), Hoya Corporation (Pentax Medical System) (Japan), Fujifilm Holding Corporation (Fujinon) (Japan), Richard Wolf GmbH (Germany), Smith and Nephew, Inc. (U.S.), and Conmed Corporation (U.S.)
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