Endoscopy involves the examination of the internal organs and cavities of the body using an endoscope. Endoscopy equipment finds applications in various procedures like laparoscopy, gastrointestinal endoscopy, arthroscopy, obstetrics/gynecology endoscopy, urology endoscopy, bronchoscope, mediastinoscopy, otoscopy, and laryngoscope.
Some major players in the global endoscopy equipment market include Ethicon, Inc. (U.S.), Olympus Corporation (Japan), Fujifilm Holding Corporation (Japan), Boston Scientific Corporation (U.S.), KARL STORZ GmBH (Germany), Stryker Corporation (U.S.), Pentax Medical Corporation (Japan), Medtronic plc (Ireland), Richard Wolf GmBH (Germany), Smith & Nephew plc (U.K.), CONMED Corporation (U.S.), and Cook Medical Incorporated (U.S.).
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Advancements in technology have also resulted in several improvisations, including increased angles in the field of view in endoscopes, reduced outer diameters of scopes, endoscopy systems that are integrated with high-resolution technologies such as 3D systems, and miniaturized endoscopy systems. The majority of leading players in the endoscopy equipment market are launching innovative products using advanced technologies to address the specific demands of their consumers, thereby stimulating the sales of their endoscopy equipment. Other factors that are driving the growth of the global endoscopy equipment market include a favorable reimbursement scenario in select geographies and increasing prevalence/incidence of diseases requiring endoscopy procedures.
In 2015, the endoscopes segment is expected to account for the larger share of the global endoscopy equipment market, by product, while the laparoscopy segment is expected to account for the largest share of endoscopy equipment market, by application. Over the years, the global healthcare industry has witnessed a paradigm shift and is now increasingly focusing on minimally invasive therapies that not only cure serious illnesses but also have fewer side effects. In the past decade, the demand for endoscopy has increased significantly, largely because of patient preference for minimally invasive surgeries, low-risk procedures, and favorable health insurance coverage. Technological advancements and breakthroughs in the field of endoscopy are expected to drive the growth of the global endoscopy equipment market in the coming years.
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In 2015, North America is expected to account for the largest share of the global endoscopy equipment market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW).North America’s large share is attributed to the favorable reimbursement scenario in the U.S., increasing incidences of cancer in the U.S. and Canada, research on new technologies in the U.S., and the implementation of a new funding model for Canadian hospitals.
Endoscopy Equipment Market, by Application
· Gastrointestinal Endoscopy
· Obstetrics/Gynecology Endoscopy
· Urology Endoscopy
· Others (neuroendoscopy, thoracoscopy, and rhinoscopy, among others)
Endoscopy Equipment Market, by Region
· North America
· Rest of the World (RoW)
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In the coming years, the endoscopy equipment market is expected to witness the highest growth rate in the Asian region, with emphasis on India, China, and Japan. The high growth in India and China can be attributed to government and venture capital investments in China in the field of endoscopy, endoscopy research support in Japan, increasing number of endoscopic surgeries & improving endoscopy infrastructure in India.
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