The global endoscopy
equipment market features a high degree of competition due to
favorable industry statutes that support product development, reports
Transparency Market Research (TMR) in a new report. Rising
investments in the medical devices sector generally is likely to
account for surging competition among players involved in the
manufacture of medical devices such as endoscopy equipment. Players
in the medical devices sector have been aggressively involved in
product development in a bid to expand their product offerings and
gain an edge in the competition.
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Prominent companies
to name in the endoscopy equipment market are Arthrex Inc., B.Braun
Melsungen AG, Karl Storz GmbH & Co., Olympus Corporation,
Fujifilm Holdings Corporation, Stryker Corporation, Boston Scientific
Corporation, Cook Medical Inc., Smith & Nephew Plc, and Medtronic
plc.
According to
estimates of a report by TMR, the global endoscopy equipment market
will increment at a CAGR of 4% between 2017 and 2022, for the
market’s valuation to rise above US$33.5 bn by 2022 from US$27.5 bn
in 2017. On the basis of product type, endoscopes are likely to hold
the maximum share in the overall market in the upcoming years thanks
to their widespread use in endoscopy applications. The segment is
likely to display a remarkable year-on-year growth of US$642.8 mn in
absolute numbers ensuring steady dominance amongst all. By geography,
North America is likely to continue to dominate among other key
regions in the global endoscopy equipment market.
The global endoscopy
equipment market is poised for stable growth in the upcoming years
mainly because of rising application of endoscopy for diagnosis of
several medical conditions, steady product development initiatives in
the medical devices sector, and ultra-modern healthcare facilities in
developed countries.
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Overview @
http://globenewswire.com/news-release/2017/10/13/1145520/0/en/Endoscopy-Equipment-Market-Will-Rise-to-a-Valuation-of-More-Than-US-33-5-Billion-by-2022-globally-Transparency-Market-Research.html
In recent years,
innovations and developments in endoscopy equipment has been
contributing to the medical devices sector with the latter reporting
exponential growth. The trend is observed not only in developed
countries but in developing countries as well.
The rising incidence
of gastroenterological disorders in developed regions such as North
America and Western Europe is one of the significant factors behind
the growth of endoscopy equipment market. Endoscopy equipment is
widely used for gastroenterological conditions which are on the rise
due to changing lifestyle and unhealthy dietary choices. Endoscopy is
well accepted for the diagnosis of gastric disorders to ensure steady
growth of the endoscopy equipment market in the near future.
At present, the
healthcare sector in developing economies of Asia Pacific is
undergoing modernization stoking adoption of modern medical devices
for diagnosis and therapeutics. This is boosting demand for endoscopy
equipment. Countries such as China, India, Malaysia, and Indonesia
are likely to fuel demand for endoscopy equipment due to the adoption
of novel healthcare practices and government support for advancement
of healthcare facilities.
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Furthermore,
endoscopy systems are increasingly becoming an integral component of
hospitals, nursing homes, and clinics to monitor bodily functions and
diagnosis of medical conditions. The non-invasive nature of endoscopy
accounts for its increasing adoption, thereby benefitting the
endoscopy equipment market.
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