PUBLISHER: DelveInsight | PRODUCT CODE: 1439403
PUBLISHER: DelveInsight | PRODUCT CODE: 1439403
Endoscopy Fluid Management Systems Market By Product Type (Standalone Systems, Disposables And Accessories), By Modality Type (Bench-Top, Floor-Standing), By Application (Hysteroscopy, Laparoscopy, Arthroscopy, Others), By End-User (Hospitals And Clinics, Ambulatory Surgical Centers, Diagnostic Centers, Others), and by geography is expected to grow at a steady CAGR forecast till 2030 owing to increasing prevalence of gastrointestinal cancer and growing adoption of minimally invasive procedures.
Global Endoscopy Fluid Management Systems Market will grow at a CAGR of 6.84% during the forecast period from 2024 to 2030. The demand for Endoscopy Fluid Management Systems is primarily being boosted by the increasing prevalence of various cancers mainly gastrointestinal cancer, innovation in product development, and growing adoption of minimally invasive procedures, thereby contributing to the growth of the Endoscopy Fluid Management Systems market during the forecast period from 2024 to 2030.
Endoscopy Fluid Management Systems Market Dynamics:
The Endoscopy Fluid Management Systems market is witnessing a growth in product demand owing to various reasons, one of the key factors being the increasing prevalence of Gastrointestinal Cancer. According to the World Cancer Research Fund 2018, Stomach cancer is the fifth most common cancer worldwide. It is the fourth most commonly occurring cancer in men and the seventh most commonly occurring cancer in women. Moreover, Lung cancer metastases to the small bowel often present as intestinal perforation. As per the data provided by the GLOBOCAN 2020 study cited by the WHO, in 2020, lung cancer was the second most diagnosed cancer type with 2,206,771 new cases across the globe. In addition to that, lung cancer was the leading cause of death among all cancer types accounting for 1,796,144 deaths globally. It has been established that bronchoscopy is the primary procedure conducted to collect a biopsy sample for the diagnosis of lung cancer. Furthermore, bronchoscopy has proven to help detect precancerous lesions associated with lung cancer thereby helping in the early cancer diagnosis. Gastrointestinal cancer is a major public health problem worldwide. Detection of early neoplastic lesions in the gastrointestinal tract is essential for a cure because prognosis and survival are related to the size and stage of malignant lesions. With proper endoscopy fluid, management systems visualization becomes better. Therefore, the increasing prevalence of Gastrointestinal Cancer is projected to result in the growing demand for Endoscopy Fluid Management Systems, thereby contributing to the growth of the Endoscopy Fluid Management Systems market during the forecast period.
Additionally, another key factor responsible for the boost in the growth of the Endoscopy Fluid Management Systems is innovation in product development and their rising approvals worldwide. For instance, the Stryker CrossFlow Integrated Arthroscopy Pump was approved by the FDA on July 12, 2019. This product is CE marked according to the European Medical Device Directive. Similarly, on August 3, 2018, Hologic Inc. announced that the FDA approved fluent fluid management system. Hologic Inc. had received a CE-marked for fluent fluid management system in Europe. Therefore, this may indicate that the key manufacturers are involved actively and may result in the higher demand for Endoscopy Fluid Management Systems, thereby taking the Endoscopy Fluid Management Systems market growth forward during the forecast period.
Along with the factors mentioned above, multiple new and exciting technologies are emerging with these devices that promise rapid, safe, and effective diagnostics. Combined irrigation and a suction pump are promising technological advancements that will eventually have a positive impact on the Endoscopic Fluid Management Systems market. Moreover, the development of new bronchoscopic techniques such as autofluorescence bronchoscopy (AFB) and high magnification bronchovideoscopy (HMB) to enhance the yield and diagnostic accuracy are also expected to aid in the growth of the Endoscopy Fluid Management Systems market.
However, the lack of trained physicians and no universally standardized training or educational curricula to effectively deliver service, thus involving risks and limitations of the procedure may restrict the Endoscopy Fluid Management Systems market growth.
Along with the above-mentioned factors, the Endoscopy Fluid Management Systems market witnessed a period of temporary setback owing to the imposing of the lockdown restrictions as necessary measures to contain the COVID-19 spread. One of the major steps during this was the suspension of numerous elective procedures and outpatient visits which reduced the demand for Endoscopy Fluid Management Systems in the market as a large number of surgeries across different medical specialties were suspended during the initial lockdown period, thereby limiting the market growth for a short time. Nevertheless, the market for Endoscopy Fluid Management Systems is in the period of recovery with the resumption of activities across various domains including healthcare services owing to the approval and administration of numerous COVID-19 vaccines across the globe, thereby presenting a positive future outlook for the Endoscopy Fluid Management Systems market during the forecast period.
Endoscopy Fluid Management Systems Market Segment Analysis:
Endoscopy Fluid Management Systems Market By Product Type (Standalone Systems, Disposables and Accessories), By Modality Type (Bench-top, Floor-standing), By Application (Hysteroscopy, Laparoscopy, Arthroscopy, Others), By End-user (Hospitals and Clinics, Ambulatory Surgical Centers, Diagnostic Centers, Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World)
In the product type segment of the Endoscopy Fluid Management Systems Market, the Standalone Systems category is expected to account for a significant revenue share during the forecast period. This can be ascribed to the fact that they improve visibility during endoscopic surgeries by providing precise fluid pressure to internal cavities.
Moreover, their advantageous properties such as these devices assure good visibility and a clean operating site during surgeries, reduce tissue adhesion on endoscopic instruments, systemic conducting irrigation using saline solution increases tissue conductivity, and provides faster electrosurgical effects. Additionally, these devices are cost-effective when compared to other procedures.
Therefore, the advantages offered by the Standalone Systems in Endoscopy Fluid Management Systems are predicted to contribute to the increasing demand, thereby driving the growth of the overall Endoscopy Fluid Management Systems market during the forecast period.
North America is expected to dominate the Overall Endoscopy Fluid Management Systems Market:
Among all the regions, North America is expected to account for the largest share in the Global Endoscopy Fluid Management Systems market. Factors such as the increasing prevalence of various cancers including gastrointestinal cancer and lung cancers, rising government initiatives, and increased product launches are expected to aid in the growth of the North America Endoscopy Fluid Management Systems Market. Furthermore, high disposable income, sophisticated healthcare infrastructure, and increased awareness regarding disease progression and new treatments are also expected to aid in the Endoscopy Fluid Management Systems market growth in this region.
According to the data provided by the National Cancer Institute, United States, in 2020, 1,806,590 new cases of various cancers were estimated to be diagnosed in the United States, and 606,520 people were predicted to succumb to various types of cancer.