Global Endoscopy Devices Market is expected to grow significantly from USD 25.7 billion in 2017 to USD 41.2 billion in 2024, at a CAGR of 7.2% from 2018 to 2024. Major factors driving the growth of the market are; rising geriatric population across the globe, and technological advancements in product development. Moreover, increasing number of surgeries coupled with growing preference for minimal invasive surgeries, and growing number of hospitals and ambulatory surgical centers across the globe are also propelling the market growth. However, limited number of trained professionals may hamper the market growth to some extent.
Key findings of the report:
The global endoscopy devices market is expected to reach USD 41.2billion in 2024, at a CAGR of 7.2% during 2018 -2024
Based on device, endoscopy device segment held the major share of the market in 2017
On the basis of application, the gastroenterology segment held the major of the market in 2017, owing to rising number of GI disorders, and increasing incidences of esophageal and colon cancer
On the basis of end-user, the hospital segment held the major share of the global market in 2017
Asia-Pacific region is expected to register highest CAGR over the forecast period
Some of the key companies operating in the market include Boston Scientific, Inc., Conmed Corporation, Olympus Corporation, Medtronic, Richard Wolf GmbH, Karl Storz GmbH, Stryker Corporation, Fujifilm Holding Corporation, Cook Medical Incorporated, and Cogentix Medical
Rising geriatric population driving the market growth
Endoscopy is a modern technology used for the detection of the diseases, and is also helpful in the minimally invasive surgeries performed across the globe. Endoscopy consists of the procedures that are comparatively cheaper, and results in fewer complications after the surgery. The instruments used in the procedures include visualization systems, endoscopes, and operative devices. These instruments enable the observation of the organs directly, unlike other medical imaging and visualization instruments. The endoscopy operative devices market is expected to grow due to the rising geriatric population across the globe. The aged population is more sensitive to diseases such as ophthalmic diseases, gastroesophageal reflux disease, gastrointestinal problems, orthopedic diseases, and cancer.
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