Global Endoscopy Equipment Market Anticipated to Surge at a CAGR of 4.0% Through 2022
New research report offers a comprehensive analysis of the “Endoscopy Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022” The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.
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Global Endoscopy Equipment Market: Snapshot
The global endoscopy equipment market is a key part of the global healthcare sector and has risen at a strong rate in recent years due to growing use of endoscopy systems for monitoring various bodily systems and diagnosing various disorders. The noninvasive application of endoscopy systems has been a major factor driving demand from the endoscopy equipment market, as widespread demand for noninvasive systems is expected to remain a key driver for the global endoscopy equipment market in the coming years. The global endoscopy equipment market is likely to be dominated by endoscopes in the coming years, with hospitals set to remain the leading end user.
The global endoscopy equipment market is studied comprehensively in the report to provide readers with a clear picture of the composition and growth prospects of the market in the coming years. The endoscopy equipment market has strong growth potential and is likely to offer attractive economic conditions for a range of industry players in the coming years due to its growing adoption across a number of regions across the world. According to Transparency Market Research, the global endoscopy equipment market is expected to rise to a valuation of more than US$33.5 bn by 2022, growing upon its 2017 valuation of US$27.5 bn at a steady 4% CAGR.
Endoscopes to Remain Dominant Contributor to Endoscopy Equipment Market
The global endoscopy equipment market is segmented by product type into endoscopes, operative devices, visualization systems, and others. Of these, endoscopes are likely to remain the dominant contributor to the global endoscopy equipment market in the coming years thanks to their predominant use in endoscopy applications. The endoscopes segment of the global endoscopy equipment market is likely to rise from US$14.6 bn to US$17.8 bn over the 2017-2022 forecast period, exhibiting a robust 4.1% CAGR. The segment’s absolute growth figure of US$642.8 mn per year is unmatched in the global endoscopy equipment market, ensuring steady dominance of the segment in the endoscopy equipment market in the coming years.
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Gastroenterology to Dominate Demand from Endoscopy Equipment Market
By application, the global endoscopy equipment market is segmented into gastroenterology, otorhinolaryngology, respiratory tract, orthopedics, gynecology and urology, pulmonology, and others. Of these, gastroenterology is likely to be the dominant contributor to the global endoscopy equipment market over the coming years due to the growing prevalence of gastric problems in the developed world and the widespread use of endoscopy equipment for diagnosis of gastroenterological disorders.
North America to Remain Leading Geographical Contributor to Endoscopy Equipment Market
Geographically, the global endoscopy equipment market is segmented into North America, Latin America, Europe, Asia Pacific except Japan, Japan, and the Middle East and Africa. Of these, North America is likely to dominate the global endoscopy equipment market in the coming years, with the regional market likely to rise from US$9.9 bn to US$12.3 bn over the 2017-2022 forecast period. The market is likely to exhibit a strong 4.2% CAGR over the aforementioned forecast period.
The global endoscopy equipment market is highly competitive due to the steady support for product enhancement within the industry. The growing investment in the medical devices sector for the sake of product innovation and continuous product development is likely to ensure strong competition in the endoscopy equipment market in the coming years. Leading players in the 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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