The global endoscopy market in 2020 is estimated for more than US$ 24.6 Bn and expected to reach a value of US$ 40.4 Bn by 2028 with a significant CAGR of 6.4%
Global Endoscopy Market, by Product Type (Endoscopes, Endoscopy Visualization Systems, Endoscopy Visualization Components, Operative Devices). (Endoscopes Sub-Type is further divided into Rigid Endoscopes, Flexible Endoscopes, Capsule Endoscopes, Disposable Endoscopes and Robot-Assisted Endoscopes. Rigid and Flexible Endoscopes Sub-Sub Type is further segmented into Seven & Eight Types respectively). (Endoscopy Visualization Subtype is further segmented into Standard definition, High definition Visualization segment and Ultrasound Devices. Endoscopy Visualization Components and Operative Devices are further segmented into six segments each). By End User (Hospitals, Ambulatory Surgical Centre, Diagnostic Clinics and Others). By Application (Gastrointestinal (GI) Endoscopy, Urology Endoscopy (cystoscopy), Laparoscopy, Obstetrics/gynaecology, Endoscopy, Arthroscopy, Bronchoscopy, Mediastinoscopy, Otoscopy, Laryngoscopy and Other Application) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to gain traction over the forecast period between 2020 and 2028.
The global endoscopy market in 2020 is estimated for more than US$ 24.6 Bn and expected to reach a value of US$ 40.4 Bn by 2028 with a significant CAGR of 6.4%
As per the report, physicians use endoscopy as a viable tool for visualizing the internal organs for any disruption from their normal behaviour. Endoscopes have been considered an old and very important mechanism to extract out the information of the living body internally as it provides the actual and live vision of the internal systems. The surgeon introduces an endoscope into the body through a body opening, such as the mouth, anus or through a small incision in the skin. There are various types of endoscopes that are being regularly used in diagnosis and treatment among, which one is the gastrointestinal endoscope that is used to treat and examine the gastrointestinal tract.
Furthermore, by the help of the technology evolution the examination of the internal part of the body has been made easy and more accurate that has resulted in maintaining the life expectancy high and by providing a source of well-being for the patient. For instance, a high definition endoscope can provide the surgeon with 850,000 to more than one million pixel image as compared to 100,000 to 400,000-pixel image on standard endoscopes. With the increase in technological advancements, health care has taken an exponential growth, which is further supporting the growth in the endoscopy market.
Furthermore, Meridian Market Consultants (MMC) There is two types of endoscopic procedures with the difference in sedation types such as conscious sedation and general anaesthesia. Department of Gastroenterology and Hepatology, Tokyo Medical University, Tokyo, and Department of Gastroenterology, Yuri Kumiai General Hospital, Akita, Japan, the use of sedation has been increased over the last decade that had made this procedure common. Since a few years use of propofol as a sedative for esophagogastroduodenoscopy (EGD) has been increased.
Moreover, the use of propofol for non-anesthesiologists is now being widely accepted due to its effectiveness in an endoscopic procedure. The safety and efficacy of the procedure are expected to favour the increase in the growth rate of the endoscopy market in the near future. Endoscopy includes some guidelines that are to be followed during the procedure of before the procedure such as in the case of isolated dysphagia or odynophagia the upper GI endoscopy is not recommended. In the case of dyspepsia, the upper GI endoscopy is recommended with certain conditions.
MMC Study identifies some of the key participating players in Endoscopy market globally are Olympus, KARL STORZ, Stryker Corp., Boston Scientific, Ethicon, Fujifilm Corporation, Medtronic, Hoya Corporation, Richard Wolf GmbH, Smith & Nephew, Cook Medical, B. Braun, among other
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