Growing Number Of Procedures And Rising Diseases And Risk Factors Drive A Large Market
An endoscopy is a procedure that allows physicians or surgeons to look interior parts of the organ. The technique is used for both diagnostic and therapeutic purpose. To perform endoscopy a specialized instrument is used named as endoscope. Various types of endoscopes and adoption of endoscope depends upon the affected body organ, for instance, bronchoscopes are used for lungs related problem, arthroscopes are preferred for problems associated with joints, and many others. Other instruments required during an endoscopic procedure includes biopsy forceps, cytology brush, flexible forceps, trocar sleeves, etc. For therapeutic purpose, the endoscopes are either attached or passed through surgical instruments to perform particular surgery. Endoscopic surgery is a type of minimally invasive surgery in which an endoscope is inserted in the body through small incisions to examine the internal organs.Technological Advance In Endoscope Devices Is Expected To Result In Greater Adoption And Expanse
Application expanse in the form of endoscopic surgery, a type of minimally invasive surgery is driving the market expanse. Virtual and capsule endoscopy is another area which is driving faster market growth.
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Risk Of Infection And Complications Is The Prime Constrain On The Market
Infections and complications caused by endoscopy devices may hamper the market growth. It is estimated that approximately 2.7 % of endoscopic procedures result in the transmission of infectious disease due to non-sterile endoscopes. It is also expected that almost 270,000 infections per year in the United States are a result of endoscopic cross-contamination.
The global endoscopy device market is segmented by types, therapy, treatments & procedures, application, accessory & processors, and end user.
Based on the type, it is segmented into flexible endoscopes, rigid endoscopes, capsule endoscopes, surgical endoscopes, and robot-assisted endoscopes. Flexible endoscopes segment is expected to command the most significant market share about 28.2 %. However, capsule endoscopes are expected to grow at the fastest CAGR of 6.9 %.
Based on therapy, it is segmented into colonoscopy, gastroscopy, arthroscopy, laparoscopy, sigmoidoscopy, endoscopic retrograde cholangiopancreotography, ureteroscopy, and cystoscopy.
Based on treatments & procedures, it is segmented into abdominal, gynecologic and pelvic organ conditions, joint and orthopedic conditions, lower gastrointestinal conditions, lung and airway conditions, upper gastrointestinal diseases, and urinary system conditions. Abdominal, gynecological, and pelvic organ conditions is further segmented into hernia repair, removal of the appendix, gallbladder, spleen, uterine fibroids, endometrial tissue, and ectopic pregnancy. Joint and orthopedic conditions are further segmented into repair of rotator cuff conditions, carpal tunnel syndrome, loose bone or cartilage, torn or damaged cartilage, tendons, and arthritis. Lower gastrointestinal conditions are further segmented into the removal of colon polyps, and treatment of bleeding from the colon. Lung and airway conditions are further segmented into lung abscess, removal of a foreign object in the airway, and the opening of a narrowed airway. Upper gastrointestinal conditions are further segmented into the removal of polyps and foreign objects, widening of a narrowed esophagus, treatment of hypertensive lower esophageal sphincter, Barrett’s esophagus, and esophageal cancer. Urinary system conditions are further segmented into kidney stones.
Based on applications, it is segmented into gastrointestinal endoscopy, arthroscopy, obstetrics/gynecology endoscopy, urology endoscopy, bronchoscopy, mediastinoscopy, and otoscopy.
Based on accessory & processors, it is segmented into accessory and processors
Based on technology, it is segmented into video and fiber
Based on the end user, it is segmented into critical care, gastroenterologists, general and pediatric surgeons, obstetricians-gynecologists (ob/gyns), and orthopedic surgeons.
Based on regions, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa.
The Americas led by the U.S. dominate the market owing to the presence of large healthcare expenditure, and excellent reimbursement. Europe accounts for the second largest market owing to an emphasis on diagnosis, large healthcare expenditure, and increasing prevalence of cancer. As per Organization for Economic Co-operation and Development (OECD), Germany spent 11 % of the total GDP on healthcare in 2015.
The Asia Pacific is the fastest growing market owing to expanding economies of countries like India and China. Asia Pacific is the fastest growing market, which is growing at a CAGR of 6.8 % from 2017 to 2023
The Middle East & Africa is expected to hold the least market share due to poor development of healthcare, and economy. The Middle East and Africa region are expected to be dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
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Some of the prominent players in this market are Cogentix Medical, Integrate Endoscopy, J&J services Inc, Shaili Endoscopy, Interscope Inc., Cantel Medical, Micro-Tech Endoscopy, Cognetix, Stryker, OLYMPUS, KARL STORZ Gmbh & Co. KG, FUJIFILM, PENTAX MEDICAL, and RICHARD WOLF and others.
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