Endoscopy Devices Market Worth $9.7 Billion by 2016 - New Report by MarketsandMarkets
(PRWEB) July 20, 2013 -- The Global “Endoscopy Devices Market by Product [Rigid/Flexible Endoscopes, Visualization Systems, Endoscopic Ultrasounds], Application [Gastrointestinal, Laparoscopy, Arthroscopy] & Technology [Narrow Band Imaging, Capsule Endoscopy, Notes] – Global Forecasts To 2016” analyzes and studies the major market drivers, restraints, and opportunities in Americas, Europe, Asia, Japan and Rest of the World.
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This report studies the Global Endoscopy Devices Market by Application, Product & Technology over the forecast period 2011-2016.
The global healthcare industry has seen a shift in paradigm and is now skewed toward less-invasive therapies that not only cures serious illnesses, but also have fewer serious side effects. Demand for endoscopy has increased manifolds over the past decade owing to patient preference for minimally invasive surgeries.
The global endoscopy devices market was valued at $6.1 billion in the year 2011 and is expected to be $9.7 billion in the year 2016. North America was the largest endoscopy devices market, followed by Europe and Japan (2011). In the next five years, Asian countries are slated to register a maximum CAGR of 14.42% owing to increased healthcare spending by the government, healthcare reforms and increased patient awareness about minimally invasive surgeries (MIS).
Global endoscopy market is broadly segmented into the following product categories; rigid endoscopes, flexible endoscopes, endoscopy visualization systems, endoscopic ultrasounds, endoscopy fluid management systems, and endoscope accessories. Introduction of new, but expensive technologies such as HD cameras, 3DHD systems, HDTV three-chip systems, Narrow Band Imaging, Capsule Endoscopy, Natural Orifice Transluminal Endoscopic Surgery (NOTES), Picture Archiving and Communication Systems (PACS), Mucosal Ablation Therapy, Robotic Endoscopes etc. are expected to drive the global endoscopy market for the coming five years.
The global endoscopy devices market witnesses’ high competitive intensity as there are many big as well small firms with similar product offerings. The market is dominated by Olympus Corporation with 70% market share, in 2011. Hoya Corporation (Pentax Medical System), Fujifilm Holding Corporation, Karl Storz, Boston Scientific, Stryker, Richard Wolf, Smith and Nephew Inc., Johnson and Johnson-Ethicon Endo Surgery (EES), Given Imaging Ltd., ConMed etc. are some of the prominent players in the global endoscopy market.
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