Endoscopy is marking growth as it is becoming popular for being a minimally invasive procedure that facilitates examination of the internal organ without any open surgery. The process requires a small incision or any natural opening of the body through which the device will be passed. The process assists in simple surgical procedures, such as biopsy, screening & recovery of foreign objects stuck inside organs, removal of stones in kidney & bile ducts, stent-placement in the digestive system, and other related organs. Its advantages like no scar, cost-effectiveness, fast recovery, and minimum hospital stay can trigger the market growth for endoscopy devices.
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Segmentation:
By application, the market for endoscopy devices can be segmented into gynecology/obstetrics, pulmonary, ENT, arthroscopy, neurology, gastrointestinal, laparoscopy, urology, and others. The arthroscopy segment includes wrist arthroscopy, knee arthroscopy, shoulder arthroscopy, hip arthroscopy, ankle arthroscopy, elbow arthroscopy, and others. The pulmonary segment covers thoracoscopy, bronchoscopy, and mediastinoscopy. The ENT segment includes otoendoscopy, nasal sinoscopy, laryngoscopy, and transnasal endoscopy. The gastrointestinal segment follows colonoscopy, esophagogastroduodenoscopy, enteroscopy, sigmoidoscopy, proctoscopy, and cholangiopancreatoscopy. The gynecology/ obstetrics segment encompasses falloposcopy, hysteroscopy, colposcopy, and others. Similarly, the neurology segment holds transcranial neuroendoscopy, transnasal neuroendoscopy, intra-ventricular neuroendoscopy, and spinal endoscopy. Meanwhile, the transcranial segment spans across nephroscopy, cystoscopy, resectoscopy, and Ureteroscopy. The laparoscopy segment encompasses cholecystectomy, bariatric surgery, hernia repair, appendectomy, and hand-assisted laparoscopy. The Others relies on dental endoscopy, cardiopulmonary endoscopy, and ophthalmology endoscopy.
By products, the market for endoscopy devices includes endoscopes, instruments, and accessories. Endoscopes comprises obot-assisted endoscopes, flexible endoscopes, rigid endoscopes, rand capsule endoscopes. The instruments segment consists of monitors & display systems, video processors/ converters, endoscopic cameras, light sources, digital documentation systems, insufflator, and fluid management systems. Accessories comprises surgical dissectors, light cables, cleaning brushes, biopsy forceps, needle holders, graspers & retractors, snares, trocars, and others.
By end-users, the market for endoscopy devices includes hospitals, ambulatory surgical centers, diagnostic centers, academic and research institutes.
Regional Analysis:
North America, Europe, and Asia Pacific can gain substantially from this inclusion of advanced technologies. The first two regions are known for their superior infrastructure and high investment capacities. The Asia Pacific region is slowly catching up investing heavily in the healthcare sector, which would facilitate easy percolation of these endoscopic devices. The Middle East & Africa region would experience sluggish growth due to the presence of economically-deprived regions in Africa.
Competitors:
The market for endoscopy devices includes companies who are known for their high investment capacity and better provision for launching innovative methods. These companies are Olympus Corporation (Japan), Johnson & Johnson (U.S.), Stryker Corporation (U.S.), Fujifilm Holdings Corporation (Japan), Medtronic, PLC (Ireland), Boston Scientific Corporation (U.S.), Smith & Nephew (U.K.), Arthrex (U.S.), Hoya Corporation (Japan), Karl Storz (Germany), and B. Braun Melsungen AG (Germany).
Industry News:
In September 2019, the American Society for Gastrointestinal Endoscopy declared that the Standards of Practice Committee’s guideline for the screening and surveillance of Barrett’s Esophagus or BE will now include WATS3D as a procedure. The technology was developed by CDx Diagnostics.
Continuous…
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