The pediatric endoscopy devices and equipment market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. Increasing demand for pediatric endoscopy, along with the growing investment in endoscopy facilities are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as advancements in technology on a global level. According to the analysis of North American Society of Gastroenterology, Hepatology and Nutrition, pediatric endoscopy has been established as a safe and effective procedure for diagnosis and management of many pediatric diseases.
The market is segmented based on type into devices (flexible, rigid, capsule) and equipment (biopsy forceps, polypectomy devices, endoscopic retrieval devices, homeostatic devices and others), out of which, the devices segment is anticipated to grab the largest share by the end of 2029 on account of increased use of flexible endoscopes among medical professionals. Moreover, flexible endoscopes are highly efficient and safe to use, which is also projected to contribute to the growth of the segment during the forecast period.
On the basis of application, the general medical & surgical hospitals segment in the pediatric endoscopy devices and equipment market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that general medical and surgical hospitals have strong financial capabilities for purchasing expensive and large quantity of pediatric endoscopy devices and equipment at the same time along with availability of trained healthcare providers to operate these devices. CLICK TO DOWNLOAD SAMPLE REPORT
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to high birth rate and increase in awareness about technological advancements. Furthermore, the market in North America is evaluated to occupy the largest share in terms of revenue during the forecast period, owing to the growing preference for minimally invasive surgeries in the region. Along with this, North America also leads in terms of healthcare infrastructure, which is expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the pediatric endoscopy devices and equipment market on account of its growing preference for technologically innovative endoscopes and preference for minimally invasive surgeries. According to National Center for Biotechnology Information, the incidence of pediatric disorders such as inflammatory bowel disease, coeliac disease, eosinophilic oesophagitis is continuously increasing in European countries which consequently needs pediatric endoscopy for diagnosis and treatment.
The pediatric endoscopy devices and equipment market is further classified on the basis of region as follows:
Our in-depth analysis of the pediatric endoscopy devices and equipment market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing demand for pediatric endoscopy and growing investment in endoscopy facilities are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
High cost of endoscopic procedures and limited reimbursements in lower income regions are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to high birth rate and increase in awareness about technological advancements.
The major players dominating the pediatric endoscopy devices and equipment market are Olympus, Karl Storz, Strykers, Boston Scientific, and Ethicon among others.
The company profiles are selected on the basis of 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.
The market is segmented by type, application and region.
With respect to application, the general medical and surgical hospitals segment is anticipated to hold the largest market share as this segment has strong financial capabilities for purchasing expensive and large quantity of pediatric endoscopy devices and equipment at the same time along with availability of trained healthcare providers to operate these devices.
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