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Endoscopy Market - By Visualization Systems (HD, 3D Camera, Wireless Display & Monitor) will reach $37.9 Billion by 2018

Endoscopy systems have a huge market demand across the globe owing to their wide application areas as well as their flexibility in terms of specification of instruments, which fits in with the various requirements of different procedures. The market has seen an extraordinary amount of technological advancements and breakthroughs in the last few years, as companies have focused on developing products that are capable of reducing pain, curtailing the number of sick days, and reducing the overall cost of the treatment. The global endoscopy equipment market was 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.

 This report categorizes the global endoscopy equipment market into four segments, namely, endoscopes, visualization equipment, other instruments, and accessories. The endoscopes market commanded the largest share of 28.2% of the global market in 2013 and is expected to reach $37.9 billion by 2018, growing at a CAGR of 6.1%. The market for endoscopes is segmented into rigid endoscopes, flexible endoscopes, surgical endoscopes, and capsule endoscopes. The surgical endoscopes market accounted for the largest share of the endoscopes market in 2013, growing at a CAGR of 28.2% to reach $37.9 billion by 2018. However, the capsule endoscopes segment is slated to grow at the highest CAGR of 6.1% from 2013 to 2018 due to increased reimbursement coverage, technological advancements, and increased patient preference.

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 The market for visualization equipment is segmented into endoscopy cameras, video processors, video convertors, camera heads, light sources, wireless displays and monitors, transmitters and receivers, and others. The wireless displays and monitors segment is the fastest-growing segment of the visualization systems market, growing at an estimated CAGR of 6.1% from 2013 to 2018, to reach $37.9 million by 2018. The market for other instruments is broadly segmented into electronic and mechanical instruments. The electronic endoscopy instruments market accounted for the largest share of the other endoscopy instruments market, by segment, at an estimated $28.2 million in 2013. This segment is expected to reach $37.9 million by 2018 at a CAGR of 6.1% from 2013 to 2018. The endoscopic accessories market includes carts/trolleys, cleaning brushes, overtubes, fluid flushing devices, and biopsy valves. The carts market accounted for the largest share of the mechanical endoscopy instruments market, by segment, at an estimated $28.2 million in 2013. This segment is expected to reach $37.9 million by 2018, at a CAGR of 6.1% from 2013 to 2018.

 Over the years, the demand for endoscopy has increased significantly because of the growing preference for minimally invasive surgical procedures. Apart from being minimally invasive, endoscopic procedures are also cost effective in terms of pre- and post-operation care costs and length of stay at hospitals. The technological advancements and breakthroughs in the field of endoscopy are expected to drive the global market in the coming years. These technological developments have resulted in several improvisations, including increased angles in the field of view in endoscopes, incorporation of high-resolution technologies such as 3D systems, capsule endoscopes, and miniaturized endoscopy systems. The other factors that are driving the growth of the global endoscopy equipment market include the favorable reimbursement scenario in select geographies, growing aging population, and increasing prevalence/incidence of diseases that require endoscopy procedures.

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The global market is dominated by North America, followed by Europe and Asia. The growth in the endoscopy market is likely to be focused on the fast-growing Asian region owing to increased healthcare spending by the government in China; the increasing number of endoscopic surgeries; the improving endoscopic infrastructure in India; the establishment of training centers for endoscopy in India, China, and Japan; wide support for endoscopy-related research activities in Japan; and increased patient awareness about minimally invasive surgeries (MIS) in Asia. The Rest of World (RoW) region—which includes South America, the Middle East and North Africa, and the Pacific countries—is likely to witness steady growth in the endoscopy market. This is due to the increasing focus of key players on the Middle Eastern countries and Brazil, the increasing number of endoscopy training workshops and investments in Australia, and several government initiatives in New Zealand to develop an efficient workforce for endoscopy services.

 The major players in the global endoscopy equipment market include Ethicon (Johnson & Johnson) (U.S.), Olympus Corporation (Japan), Covidien Plc (Ireland), Karl Storz GmbH (Germany), Boston Scientific, Inc. (U.S.), Stryker Corporation (Japan), Cook Medical Incorporated (U.S.), Hoya Corporation (Pentax Medical System) (Japan), Fujifilm Holding Corporation (Fujinon) (Japan), Richard Wolf GmbH (Germany), Smith and Nephew, Inc. (U.S.), and Conmed Corporation (U.S.)

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