The global endoscopy equipment market is likely to exhibit a strong
4% CAGR in the 2017-2022 forecast period, rising from a likely
2017-end valuation of US$27.5 bn to US$33.5 bn by the end of 2022.
Analysts at Transparency Market Research have attributed the growth
of the endoscopy equipment market to a number of factors.
The rapid advancement of the medical devices sector and the steady
availability of funding for product enhancement is likely to remain
the prime driver for the global endoscopy equipment market in the
coming years. Product development has become a major strategy for
players in the medical devices sector due to the steady availability
of technological advances that allow for the production of better
products and rising competition in the sector. The endoscopy
equipment market is likely to benefit from this trend significantly
in the coming years due to the rising number of players looking to
carve out a significant share in the market, which has served to
boost competition.
The rising prevalence of gastroenterological disorders in developed
regions such as North America and Western Europe is likely to be a
key driver for the global endoscopy equipment market in the coming
years. Gastroenterology is the leading application of endoscopy
equipment and has gained increased demand due to the growing adoption
of unhealthy dietary and lifestyle choices, including the increasing
preference to addictions such as tobacco and alcohol. Endoscopy plays
a key role in the diagnosis of gastric problems and is the
established means of diagnosis for several gastric disorders,
ensuring steady growth of the endoscopy equipment market in the
coming years.
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The rapid growth of the healthcare sector in developing economies in
Asia Pacific except Japan (APEJ) is likely to be a major driver for
the global endoscopy equipment market in the coming years. The APEJ
market for endoscopy equipment is likely to exhibit a strong 4.1%
CAGR over the 2017-2022 forecast period, enabling a steady rise of
the regional market to a valuation of more than US$7.5 bn by the end
of 2022. Countries such as China, Korea, Taiwan, Indonesia, Malaysia,
and India are likely to be crucial to the endoscopy equipment market
in the coming years due to the growing adoption of Western lifestyles
in the region and growing government support to advancement of the
healthcare and medical devices sector.
The global endoscopy equipment market is likely to exhibit stable
growth over the coming years due to a steady rise in the application
of endoscopy in diverse end use diagnostic fields, the steady product
development scenario in the medical devices sector, and the booming
healthcare sector in developed economies. The endoscopy equipment
market has remained a steady contributor to the global medical
devices sector in recent years and is likely to remain relevant to
the economic dynamics of the healthcare sector in the coming years
due to its strong growth prospects in not just developed regions such
as North America and Europe but also several emerging economies in
Asia Pacific except Japan.
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Leading players in the increasingly competitive global endoscopy
equipment market include Arthrex Inc., Stryker Corporation, B. Braun
Melsungen AG, Boston Scientific Corporation, Olympus Corporation,
Cook Medical Inc., Karl Storz GmbH & Co. KG, Smith & Nephew
Plc, Fujifilm Holdings Corporation, and Medtronic Plc.
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