Endoscopes Market Regional Analysis:
North America Market Insights
North America industry is anticipated to hold largest revenue share of 40% by 2035. The region’s growth is attributed to the rapidly aging population and increasing adoption of elective endoscopic procedures. It is estimated that one in five Americans will be of age 65 or above by 2040.
The United States market is witnessing growth as a result of the increased expenditure on healthcare. As per a National Health Expenditure Fact Sheet presented by the Centers for Medicare & Medicaid Services, in 2022; the healthcare spending in the U.S. reached up to USD 4.5 trillion holding a share of 17.4% in the gross domestic product (GDP).
The market in Canada is expanding due to the rising prevalence of inflammatory bowel diseases and other gastrointestinal disorders. According to the statistics provided by Canadian Government in 2021, approximately 260,000 Canadians had inflammatory bowel disease.
Asia Pacific Market Insights
Asia Pacific region is likely to observe significant growth till 2035, owing to the launch of innovative endoscopic products, a rise in the elderly population, and increasing incidences of chronic disorders. Cardiovascular diseases are one of the major causes of death in Asia Pacific with an estimated 9.85 million deaths in the South- East Asia and Western Pacific regions in 2019.
The market is growing in China because of the increasing cases of gastrointestinal cancers. According to a National Institute of Health survey, stomach cancer in China accounted for 43.9% of the global level and 4.7 million cases in the year 2020.
The market is flourishing in India owing to the high number of breast cancer cases and the growing elderly population. The mortality rate for breast cancer in India is 12.7 per 100000 women.
