Endoscopy Equipment Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2017 - 2022
The global endoscopy equipment market is likely to exhibit stable growth
over the coming years due to a steady rise in the application of endoscopy in
diverse end use diagnostic fields, the steady product development scenario in
the medical devices sector, and the booming healthcare sector in developed
economies. The endoscopy equipment market has remained a steady
contributor to the global medical devices sector in recent years and is likely
to remain relevant to the economic dynamics of the healthcare sector in the
coming years due to its strong growth prospects in not just developed regions
such as North America and Europe but also several emerging economies in
Asia Pacific except Japan.
The global endoscopy equipment market is likely to exhibit a strong 4%
CAGR in the 2017-2022 forecast period, rising from a likely 2017-end
valuation of US$27.5 bn to US$33.5 bn by the end of 2022. Analysts at
Transparency Market Research have attributed the growth of the endoscopy
equipment market to a number of factors.
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The rapid advancement of the medical devices sector and the steady
availability of funding for product enhancement is likely to remain the prime
driver for the global endoscopy equipment market in the coming years.
Product development has become a major strategy for players in the medical
devices sector due to the steady availability of technological advances that
allow for the production of better products and rising competition in the
sector. The endoscopy equipment market is likely to benefit from this trend
significantly in the coming years due to the rising number of players looking
to carve out a significant share in the market, which has served to boost
competition.
The rising prevalence of gastroenterological disorders in developed regions
such as North America and Western Europe is likely to be a key driver for the
global endoscopy equipment market in the coming years. Gastroenterology is
the leading application of endoscopy equipment and has gained increased
demand due to the growing adoption of unhealthy dietary and lifestyle
choices, including the increasing preference to addictions such as tobacco and
alcohol. Endoscopy plays a key role in the diagnosis of gastric problems and
is the established means of diagnosis for several gastric disorders, ensuring
steady growth of the endoscopy equipment market in the coming years.
The rapid growth of the healthcare sector in developing economies in Asia
Pacific except Japan (APEJ) is likely to be a major driver for the global
endoscopy equipment market in the coming years. The APEJ market for
endoscopy equipment is likely to exhibit a strong 4.1% CAGR over the 20172022 forecast period, enabling a steady rise of the regional market to a
valuation of more than US$7.5 bn by the end of 2022. Countries such as
China, Korea, Taiwan, Indonesia, Malaysia, and India are likely to be crucial
to the endoscopy equipment market in the coming years due to the growing
adoption of Western lifestyles in the region and growing government support
to advancement of the healthcare and medical devices sector.
Leading players in the increasingly competitive global endoscopy equipment
market include Arthrex Inc., Stryker Corporation, B. Braun Melsungen AG,
Boston Scientific Corporation, Olympus Corporation, Cook Medical Inc.,
Karl Storz GmbH & Co. KG, Smith & Nephew Plc, Fujifilm Holdings
Corporation, and Medtronic Plc.
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