Introduction to Endoscopy video systems
An endoscopy is a procedure used to examine the upper digestive system of the human body. During this procedure, a long flexible tube or an endoscope is inserted, into your mouth, down your throat and into your esophagus. The device is used by the doctors to view and examine your esophagus, stomach and small intestine to understand the symptoms related to the digestive system. The endoscope has a tiny camera at the one end and eyepiece on the other end and with the help of this camera, the doctor or surgeon examines the images viewed on the video monitor. In order to observe anything unusual in the body, the doctor uses the surgical tools, which are passed through the endoscope to collect the sample for further examination.
Market size and Forecast
Globally, the age related diseases in addition to the diseases related to respiratory system are prevailing, and for the diagnosis & treatment of these diseases, the demand for endoscopic procedures is rising, which will further boost the demand for Endoscopic video systems. The market for Endoscopy video systems is anticipated to record a CAGR of around 6% over the forecast period, 2020-2028. The key factors, boosting the growth of the market include increasing geriatric population, rise in the cases of cancer & obesity along with the increase in the adoption of surgeries in which endoscopes are used. These key factors will result into the increased adoption of endoscopes along with the visual monitor systems, with the advancements in technology over the forecast period.
The product type is segmented into Standard Definition visualization system, High Definition visualization system and Ultrasound devices. Based on the segmentation by product type, the High Definition visualization systems segment is anticipated to hold the leading share in the market on the account of increase in demand for High Definition (HD) visualizations by the doctors and surgeons, so as to diagnose the complex diseases such as lung disorders, cancer and urinary disorders, during the endoscopic procedures. Moreover, the HD visualization allows the medical professionals to view and switch the images from 2D to 3D, which will create a positive impact on the growth of the market. CLICK TO DOWNLOAD SAMPLE REPORT
Rise in the Demand for Endoscopy
The preference for endoscopic video systems for the surgical procedures is rising among the doctors and patients on the back of its results in quick recovery of the patients and less trauma for them. The medical experts are shifting from open surgeries to minimal invasive surgeries, thereby likely to increase the demand for minimal invasive endoscopic devices in the forecast period. Moreover, the endoscopic procedures are quick which results in less medical expenditure, shorter stay at the hospitals and attributes to higher patient satisfaction. Hence, endoscopy is gaining more traction with each passing day which is expected to fuel the market for endoscopic video systems over the forecast period.
Advancement in the Technology and Global Rise in Health Diseases
The geriatric population is rising, and they have a need for different kind of surgeries as they are more prone to medical conditions such as gall stones, pelvic abscess and respiratory disorders which involves endoscopy and its video systems. In addition, increasing private hospitals and rise in the budget of healthcare to tackle the surgical issues with more clarity and precision is boosting the growth of the market. With the high demand for endoscopic procedures, the demand for endoscopic video systems is expected to be showcase an upliftment over the forecast period.
High Cost of Endoscopic Video Systems
The average price of an endoscopic video system is very high. Maintaining endoscopy equipments and video systems is of great importance in order to avoid patients from infection. Most of the developing countries are low in financial resources, which makes it difficult for them to invest and spend in such costly video systems. In addition, in some of the countries, there is no reimbursement from the government for endoscopic procedures. Moreover, any wear and tear during the insertion of endoscope will hamper the durability of the endoscopic equipments. All these factors are expected to restrain the growth of the endoscopic video systems market.
Our in-depth analysis of endoscopic video systems market includes the following segments:
By Product Type
By Component Type
By End User
On the basis of regional analysis, the endoscopic video systems market is segmented into five major region including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market for endoscopic video system in North America is predicted to hold the leading share on the account of its rising geriatric population, increasing surgeries using endoscopic procedures and rising incidents of health diseases related to lung disorders along with cancer and respiratory organs. Further, the hospitals in this region are spending more on new video systems and increasing the activities in research department for further improvement in the endoscopy, which is expected to fuel the growth of the market. The regions in Asia Pacific are predicted to be growing rapidly owing to the lucrative video systems market for endoscopy and increase in healthcare budget.
The endoscopic video system market is further classified on the basis of region as follows:
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