This report studies the global endoscopy equipment market over the forecast period of 2013 to 2018. The market is estimated at $28.2 billion in 2013 and is expected to reach $37.9 billion by 2018, growing at a CAGR of 6.1% from 2013 to 2018.
Dallas, Texas (PRWEB) February 03, 2014
Over the years, the endoscopy equipment market, which comprises endoscopes and visualization equipment, has witnessed various technological advancements. These advancements have led to a growth in the number of application areas of endoscopic equipment. Endoscopy devices are used in laparoscopy, arthroscopy, bronchoscopy, gastrointestinal endoscopy, urology, gynecology, and neuroendoscopy, among others.
The endoscopes segment is the fastest-growing segment of the endoscopy market. The increasing number of endoscopic procedures is likely to propel the growth of this market. Capsule endoscopes are a major advancement in the field of endoscopes and are rapidly replacing gastrointestinal (GI) videoscopes. Capsule endoscopy is anticipated to be a revolutionary technique, which will enhance the approach of diagnosing and evaluating small bowel diseases. Apart from being a painless procedure, capsule endoscopy has become the preferred choice for patients, as it allows patients to continue their normal day-to-day activities while the procedure is being performed.
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Visualization systems play a vital role as they enable surgeons to observe body cavities and organs/canals. These systems have applications in most endoscopic procedures as well as in all types of video-assisted procedures, such as general endoscopic, laparoscopic, bariatric, thoracic, and anterior/posterior spinal procedures. Over the years, visualization systems have also witnessed a growing number of technological advancements. For instance, endoscopy cameras have evolved from single-chip cameras to HD cameras and further to 3D cameras, thereby improving image and video quality. Thus, the growing market for visualization systems is likely to boost the endoscopy market.
In the coming years, the growth of the endoscopy market is likely to be centered at China, India, Japan, Australia, and New Zealand. These countries offer an array of opportunities for growth and are likely to serve as new revenue pockets for the endoscopy market. All these countries offer high growth potential as compared to mature markets such as the U.S. and Europe. Factors such as the growth in the aging and chronically ill population, the increasing number of private sector hospitals, advancements in endoscopic technology, and expansion in rural healthcare facilities play a pivotal role in propelling the demand for endoscopy in the Asian region. China and India will be the focal points for growth of endoscopy in the Asian market. Furthermore, the endoscopy market in Japan will witness a significant growth in demand for capsule endoscopes due large number of indications being covered under as reimbursements for capsule endoscopy. RoW includes regions such as Latin America, Africa, the Middle East, and the Pacific countries. These markets are slated to grow at a steady pace due to increased reimbursement coverage, government healthcare spending, as well awareness levels of patients regarding minimally invasive surgeries.
The global endoscopy equipment market witnesses high competitive intensity as there are many big and small firms with similar product offerings. These companies adopt various strategies (innovations, acquisitions, and geographic expansions related to endoscopy products) to increase their market share and to establish a strong foothold in the global market. However, the high cost of endoscopic systems and the need for skilled professionals to operate these highly sophisticated endoscopy systems are factors that are limiting the use of advanced endoscopy instruments.
The report extensively covers endoscopy instruments (products and applications). A volume analysis of the market has also been provided by considering the average prices of instruments across geographies and years.
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The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market share. Firms purchasing the report could use any one or a combination of the below mentioned five strategies (Market Penetration, Product Development/Innovation, Market Development, Market Diversification, and Competitive Assessment) for strengthening their market share.
Major points from table of content
9 Company Profiles
9.1 Applied Medical
9.2 Accellent, Inc.
9.3 Aesculap, Inc.
9.4 Arthrex Inc.
9.5 Boston Scientific Corporation
9.6 Conmed Corporation
9.7 Cook Medical Incorporated
9.8 Covidien PLS
9.9 Fujifilm Holding Corporation
9.10 Given Imaging, Inc.
9.11 Hoya Corporation
9.12 Ethicon Endo Surgery (A Subsidiary of Johnson & Johnson)
9.13 Karl Storz Gmbh & Co. Kg
9.14 Medivators, Inc.
9.15 Olympus Corporation
9.16 Richard Wolf Gmbh
9.17 Safestitch Medical, Inc.
9.18 Smith & Nephew PLS.
9.19 Solos Endoscopy, Inc.
9.20 Stryker Corporation
9.21 Welch Allyn, Inc.
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