According to a recently published report by Research Nester on “Next Level Endoscopic Device Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global next level endoscopic device market in terms of market segmentation by type, by application, by end users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global next level endoscopic device market was valued at USD 26.3 Billion in 2018 and is estimated to surpass USD 42.4 Billion by 2027. The market is anticipated to record a CAGR of around 6.23% over the forecast period i.e. 2019-2027. The market is segmented by type, application & end users. The market is segmented by type into endoscopes (flexible, rigid, capsule, disposable, robot assisted), mechanical endoscopy equipment, visualization systems & others. The market is further segmented by application into gastrointestinal endoscopy, laparoscopy, bronchoscopy, neuroendoscopy, arthroscopy and others. On the basis of end users, the market is segmented into hospitals, clinics and others.
North America region is anticipated to have leading shares in the global next level endoscopy market during the forecast period on account of presence of proper healthcare infrastructure, high awareness about endoscopic procedures and favorable reimbursement policies. Europe region is accounted to be the second largest region in terms of revenue owing to high expenditure on healthcare facilities by governments of countries in this region, high disposable income, followed by Latin America, Asia Pacific and Middle East & Africa region respectively. Asia Pacific region is estimated to have significant growth on account of increase in the number of patients suffering from chronic diseases, rise in government initiatives for enhancement in healthcare facilities in the countries of the region and rise in the demand for minimal invasive surgeries.
Increasing Prevalence of Cancer and Rise in Geriatric Population
The prevalence of cancer is increasing vastly. According to WHO, the number of cancer cases in 2012 were 14.1 million and is anticipated to increase to 22 million till 2034. Procedures of Endoscopy such as laparoscopy, colonoscopy, urology endoscopy, are used to diagnose cancer. The old age population is more sensitive to diseases such as gastrointestinal problems, orthopedic diseases, ophthalmic diseases and many more. Endoscopes are used to diagnose such diseases among the geriatric population and is expected to drive the growth of the market.
However, high cost of endoscopy and lack of skilled professionals are expected to operate as a key restraint to the growth of global next level endoscopic device market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global next level endoscopic device market which includes company profiling of Richard Wolf, Olympus, Karl Storz, Medtronic, Smith & Nephew, XION Medical, B. Braun Melsungen, Henke-Sass. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global next level endoscopic device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.