Global Flexible Endoscopes Market is projected to grow at a CAGR rate of 2.83% during the forecast period 2019 to 2025. Rise in gastrointestinal diseases among the population due to unhealthy food habits and changing lifestyle patterns are the trends that are driving the demand for flexible endoscopes.
Companies are focuses on training medical professionals and others that could attribute to boost the market growth and witnessed to have a positive impact on overall market growth.
The market growth of flexible endoscopes is attributed due to increased awareness among the customers owing for minimal abrasive surgeries triggering fewer scares and cuts, less recovery time, and others.
Risks and complications associated with endoscopy treatments such as allergies, pain persist, and others are limiting the growth of global flexible endoscopes market.
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Hospitals dominate among the end user industries of flexible endoscopes market:
Availability of well experienced medical professionals and a wide range of medical facilities at one place are witnessed to increase customer base. Increases in a number of cancer cases are witnessed to increase the demand for flexible endoscopes attributing for early detection of diseases. Approval of health insurance across hospitals for some diseases treated by endoscopes is expected to fuel market growth.
Increase in obesity patients with respect to changing customer preferences and lifestyle patterns are estimated to drive the demand for flexible endoscopes. According to the World Health Organisation (WHO) over 340 million people were suffering from obesity in 2016, that is expected to rise further may incur opportunities attributing for market growth.
Further, end-user industries of flexible endoscopes market are segmented into clinical centres and others.
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Asia Pacific flexible endoscopes market is dominant owing to increased government funding and presence of major players:
Asia Pacific region is expected to be fast growing among others in the global flexible endoscopes market. Increase in medical funding of the governments across the countries of Singapore, Thailand, China, Japan, India, and others witnessed to increase utilization and implementation of flexible endoscopes across hospitals, clinical centers, and others.
Presence of key manufacturers such as Olympus Corporation, Hoya Corporation, and others producing Flexible Endoscopes are estimated to boost the market growth. The companies making investments on R&D efforts to expand their product lines are witnessed to boost the demand. Increased awareness among the customers regarding endoscope treatment by various organizations and agencies are attributed to accelerating the demand for Flexible Endoscopes.
Further, regional analysis is analyzed for countries across the regions of North America, Europe, South & Central America, and Middle East & Africa.
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Key players operating in the flexible endoscope market are Olympus Corporation, Karl Storz GmbH & Co KG., B. Braun Melsungen AG, Stryker Corporation, and Boston Scientific Corporation, Ethicon, Inc. (Johnson & Johnson), Fujifilm Holding Corporation, Medtronic PLC, PENTAX Medical (Hoya Corporation), and Smith & Nephew PLC.
Mergers, acquisitions, and joint ventures through product launch, improved R&D facilities, and others are the key strategies adopted by key players in the market to overcome the competitive edge.
On June 2018, KARL STORZ Launched New 4 mm Endoscopic NIR/ICG Fluorescence Imaging System, an IMAGE1 S technology to Enhance Minimally Invasive Neurosurgery.
On August 2018, PENTAX Medical, a division of the HOYA Group acquired Plasma Biotic SAS.
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