Endoscopy Device Market – Overview
The Global Endoscopy Device Market is expected to grow at a CAGR of 6.3% during the forecast period 2017-2023.
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.
Endoscopy Device Market – Key Developments
Strategic approaches adopted help the major players to sustain their growth in the market and develop their business in various geographical areas across the globe. Agreements and collaborations, mergers and acquisitions, and new product launches are various strategies followed by the key players.
July, 2016: Integrated Endoscopy received clearance from the FDA for its nuvis Single-Use Arthroscope. It is the first FDA-approved disposable rigid endoscope.
In February, 2016: Integrated Endoscopy demonstrated its nuvis Single-Use Arthroscope at the 2016 American Academy of Orthopaedic Surgeons (AAOS) Meeting in Orlando, USA.
Johnson & Johnson Services Inc.
September, 2016: Acclarent Inc., a subsidiary of Johnson & Johnson, received FDA approval for ACCLARENT AERA Eustachian Tube Balloon Dilation System. It is a first FDA-approved device to treat Eustachian Tube Dysfunction effectively.
March, 2016: Ethicon, a medical device company of the Johnson & Johnson, acquired NeuWave Medical, Inc.
June, 2015: Verb Surgical Company was created by the collaboration of Ethicon and Verily.
March, 2015: Ethicon, a medical device company of the Johnson & Johnson, enter into a collaboration with Google, Inc.
September, 2015: Acquired UK-based medical innovations for a purchase price of USD 79.6 million.
February, 2015: Cantel medical expanded product portfolio with the acquisition of the North American Science Associates, Inc.
September, 2017- Stryker acquired NOVADAQ Technologies Inc., to expand its product portfolio in imaging technology. NOVADAQ is one of the leading developer of fluorescence imaging technology which in providing surgeons visualization of blood flow in vessels, and related tissue perfusion in cardiac, cardiovascular, gastrointestinal, plastic, microsurgical, and reconstructive procedures.
July, 2017- PENTAX MEDICAL announced the collaboration with Shanghai Aohua Photoelectricity Endoscope Co., Ltd. (AOHUA) to improve the standard of patient care and quality of healthcare.
January, 2017- PENTAX MEDICAL acquired C2 Therapeutics to expand interventional endoscopy offering. According company reports, this acquisition will expand the company’s role in the gastroenterology worldwide from being a provider of advanced imaging for diagnostics, to now providing advanced therapeutic solutions.
Boston Scientific Corporation
June, 2017: Boston Scientific Corporation launched Alair bronchial thermoplasty therapy in India. Alair bronchial thermoplasty treatment uses a bronchoscope to deliver radiofrequency energy to reduce the amount of excess smooth muscle tissue in the airways.
November, 2016: Boston Scientific Corporation acquired EndoChoice Holdings, Inc., a Georgia based company focused on the development and commercialization of infection control products, pathology services, and single-use devices.
June, 2017: Olympus launched 3D Surgical Endoscope for faster and more precise surgery.
Endoscopy Device Market – Major Players
Some of the key 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.
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Endoscopy Device Market – Segmentation
The global endoscopy device market is segmented on the basis of type, therapy, treatments & procedures, application, accessory & processors, and end user.
On the basis of type, it is segmented into flexible endoscopes, rigid endoscopes, capsule endoscopes, surgical endoscopes, and robot-assisted endoscopes.
On the basis of therapy, it is segmented into colonoscopy, gastroscopy, arthroscopy, laparoscopy, sigmoidoscopy, endoscopic retrograde cholangiopancreotography, ureteroscopy, and cystoscopy
Endoscopy Device Market – Regional Analysis
The Americas dominates the global endoscopy device market owing to the presence of strong economic condition, huge development in the healthcare domain, and focus of research institutions on updating technology for new and advanced diagnosis and treatment methods. Moreover, advanced hospitals infrastructures, and availability of skilled healthcare professional adding fuel to the growth of the market.
Europe holds the second position in the market on the basis of increasing emphasis on rapid diagnosis and treatment of cancer, and gastrointestinal diseases, changing lifestyle, increasing prevalence of cancer among geriatric population. As per Organization for Economic Co-operation and Development (OECD), Germany spent 11% of the total GDP on healthcare in 2013, which was 10.8% in 2012, which drives the growth of the market in this region.
Asia Pacific is the fastest growing market owing to more number of developing nations present in this region, for instance, countries like India and china. These countries are encouraging the growth of the healthcare domain. Furthermore, increasing patient population of cancer and gastrointestinal diseases in developing countries will directly increase the demand for various diagnosis & treatment methods, which, in turn, will boost the growth of the market.
The Middle East & Africa is expected to hold the least market share due to less availability of medical facilities, and less development in the healthcare domain. However, countries such as Qatar and Kuwait are focusing more on the healthcare domain and developing medical facilities, which will boost the market of this region.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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