Endoscopy Devices Market Growth, Size, Share, Analysis And Outlook From 2014 To 2020: Grand View Research, Inc.
Growing demand for minimally invasive surgeries is expected to drive endoscopy devices market. Minimally invasive procedures result in fewer traumas to the patient and quicker recovery than invasive procedures such as open heart surgery. Research results published by manufacturers (Ethicon Endo-Surgery Inc.) suggest that minimally invasive surgeries are rapidly replacing open/invasive surgeries, owing to the factors such as higher patient satisfaction levels owing to lesser incision wounds, involve relatively lesser number of hospital stays and therefore, are economically viable, involve lesser number of post surgery complications and lower mortality rates, Endoscopy devices are used in minimally invasive procedures and therefore, the rising demand for minimally invasive surgeries is expected to boost market growth during the forecast period.
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Visualization devices leading product segment owing to the presence technologically advanced products such as 2D and 3D visualization systems and ultrasound devices. North America is the highest revenue generating region for endoscopy devices. Growing geriatric population coupled with sophisticated healthcare infrastructure in the region is positively reinforcing endoscopy devices market in the region. Furthermore, Asia Pacific is expected to witness lucrative growth during the forecast period, owing to the favourable government initiatives pertaining to the development of healthcare infrastructure in the regions such as China, India and Japan.
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Endoscopy devices market is highly concentrated with three companies, Olympus Corp., Stryker Corp. and Boston Scientific accounting for the majority of the share. Some key companies operating in the global market include Intuitive Surgical, Inc, Arthrex, Inc., B. Braun Melsungen AG, Cook Medical, Inc., Ethicon Endo-Surgery, Covidien PLC, Karl Storz GmbH&Co. Kg., Fujifilm Holdings Corp., HOYA Corp., Richard Wolf GmbH and Smith&Nephew PLC.
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