In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
August 2021- The U.S. Food and Drug Administration (FDA) gave clearance to 3NT’s specialized Peregrine endoscope, which is designed to help diagnose and treat disorders, including polyps and cancers.
March 2019- Boston Scientific Corporation received clearance from the FDA for the EXALT Model D Single-Use Duodenoscope for use in endoscopic retrograde cholangiopancreatography (ERCP) procedures.
Ans: The major factors driving market growth are increasing cases of infectious diseases across the globe, and growing prevalence of diseases associated with the digestive system.
Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2031.
Ans: The major players in the market are Corinth MedTech, Inc., Boston Scientific Corporation, Hill-Rom Holdings, Inc., HOYA Corporation, KARL STORZ SE & Co. KG, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by affected organ, end user, and by region.
Ans: The hospitals segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
Ans: High cost of gastroenterology disposables is estimated to hamper the market growth.
Ans: Asia Pacific region is anticipated to provide more business opportunities over the forecast period owing to the growing technological advancements in the healthcare sector, and large patient pool in the region.