PUBLISHER: Orion Market Research | PRODUCT CODE: 1078166
PUBLISHER: Orion Market Research | PRODUCT CODE: 1078166
Global Endoscopy Devices Market Size, Share & Trends Analysis Report By product (Endoscopes, Visualizing Systems, Electronic And Mechanical Endoscopic Equipment, And Accessories) By Applications (Laparoscopy, Gastrointestinal (Gi) Endoscopy, Arthroscopy, Obstetrics/Gynecology Endoscopy, Otoscopy, Laryngoscopy, Bronchoscopy,Urology Endoscopy (Cystoscopy), Bronchoscopy and Others) Forecast 2022-2028
The global endoscopy devices market is anticipated to grow at a substantial CAGR of 6.9% during the forecast period.The increasing demand for minimal invasive surgery has boosted the global endoscopy devices market. Minimal invasive surgery has become famous in surgical treatment for many indications, such as treatment of gallstones and acute appendicitis. For instance, Laparoscopy is known as minimal invasive surgery. It allows for shorter hospital stays, faster recovery, less pain, and smaller scars than traditional (open) surgery. A laparoscopy is a type of surgery that checks for problems in the abdomen or a woman's reproductive system. Laparoscopic surgery uses a thin tube called a laparoscope. It is inserted into the abdomen through a small incision. According to National Library of medicine, across the globe, around 310 million major surgeries are performed each year; around 40 to 50 million in USA and 20 million in Europe.
The global endoscopy devices market is segmented based on product and application. Based on product the market is segmented into Endoscopes, Visualizing Systems, Electronic And Mechanical Endoscopic Equipment, And Accessories. Based on applicatiom the market is segmented into Laparoscopy, Gastrointestinal (Gi) Endoscopy, Arthroscopy, Obstetrics/Gynecology Endoscopy, Mediastinoscopy, Otoscopy, Laryngoscopy, Urology Endoscopy (Cystoscopy), Bronchoscopy and Others.Thelaproscopy segment is anticipated to grow at the fastest rate, as Laparoscopy is commonly being used in many different types of general surgical procedures.Accordig to, National Library of medicine, approximately 20 million people in the United States have gallstones.
Geographically market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.North America dominates the market and is expected to continue its presence over the forecast period. The growth can be attributed to rising number of patients having Gastroesophageal reflux disease (GERD). It is one of the most commonly diagnosed digestive disorders in the US with a prevalence of 20%, resulting in a significant economic burden in direct and indirect costs and adversely affects the quality of life. According to National Library of Medicine, around 20% people in US are facing GERD. Endoscopy devices can help to diagnose these diseases and can provide relief.
The major companies serving the global Endoscopy Devicesmarket are The Cooper Companies, Inc., Teleflex Incorporated, CapsoVision, Inc. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in 2021, The cooper companiesInc., acquired Generate Life Sciences, a leading provider of donor egg and sperm for fertility treatments, fertility cryopreservation services and newborn stem cell storage (cord blood & cord tissue).
Research Methodology
The market study of the global Endoscopy Devicesmarket is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers
Category-Medical Devices