Growing Demand for Less Invasive Procedures Drives Growth in the Endoscopy Systems Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) March 04, 2015 -- Follow us on LinkedIn – Surgical endoscopy is witnessing strong growth worldwide, supported by the numerous intraoperative, and postoperative benefits offered. The development of robot-assisted surgery and single incision surgery will continue to spur growth in the market. Major benefits of minimally invasive surgery, driving its adoption among patients and physicians alike, include reduced trauma to the surgical site, lower blood loss, shorter hospital stays, faster recovery, reduced risk of long-term surgical scarring and superior patient outcomes. Against this backdrop, demand for endoscopy systems is expected to witness strong growth. Endoscopy refers to the insertion of a tube-shaped device into the body to examine and repair diseased tissue and organs. The superior visualization capabilities offered by endoscopes provides physicians the opportunity to accurately diagnose and effectively perform required surgical intervention. Endoscopy is gradually becoming the primary technique for detection and treatment of chronic and acute gastrointestinal (GI) disorders and other ailments, driven by its unique capability to target hard-to-reach areas within the body.
A key factor driving growth in the market is the proliferation of endoscopy procedures across a broad range of specialties, such as, orthopedics, cardiology, gynecology, and urology among others. Also expected to fuel growth in demand is the rising popularity of “Natural Orifice Translumenal Endoscopic Surgery”, wherein the natural openings in the body, such as, mouth, nose, urethra and vagina, serve as surgical routes. Other key factors spurring growth include aging population, rising prevalence of chronic diseases, improving growing access to better healthcare services, and strong emphasis on early diagnosis. Technological developments in endoscopes and other related equipment have enabled tremendous improvements in diagnostic and surgical capabilities of these devices, thereby encouraging their adoption. Favorable reimbursement scenario in select regional markets, and government initiated launch of screening programs for early diagnosis, are driving growth in the market. Early Cancer Detection Centers (ECDC), established by governments in developing countries, for instance, strengthens the business case for endoscopy systems.
Another key factor fuelling growth is the rise of office-based endoscopy. The number of ambulatory surgical procedures is increasing, supported by increased investments in office-based endoscopy systems and increasing number of accredited physician practices. Also, government focus on establishing ambulatory surgery centers (ASCs) to curb the soaring cost of healthcare, will benefit growth in the market. Developments in visualization systems for endoscopy, such as, narrow band imaging, confocal microendoscopy and HD cameras will benefit adoption. Capsule endoscopy is forecast to witness strong demand in the coming years, given the technology’s effectiveness in detecting pathologies such as tumors and lesions that usually lie underneath the mucosal layers. Capsule endoscopy is currently employed in the detection of tumors in the small bowel, gluten enteropathy evaluation and diagnosis of Crohn’s disease.
As stated by the new market research report on Endoscopy Systems, the United States represents the single largest market worldwide, supported by the high prevalence of colorectal and other gastrointestinal related diseases, aging population and their complex medical needs. Asia-Pacific is forecast to emerge as the fastest-growing market with a projected CAGR of 6.4% over the analysis period. Major markets for endoscopy devices in Asia-Pacific include China, India and Taiwan. The growth in Asia is driven by the developments in healthcare infrastructure, improvements in the quality of healthcare services, increased access to affordable healthcare, rising standards of living, increased per capita healthcare spending, and growing popularity of medical tourism in low cost countries.
Major players covered in the report include Covidien Ltd., Ethicon Endo-Surgery, Fujifilm Corporation, Given Imaging Ltd., Hoya Corporation, Karl Storz GmbH & Co. KG, Olympus Corporation, Richard Wolf Medical Instruments Corporation, Smith & Nephew and Stryker Corporation among others.
The research report titled “Endoscopy Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in value (US$) for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. The market is also analyzed by the following product segments - Endoscopes and Visualization Equipment.
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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