As per the Endoscopy Devices Market research by Fact.MR – a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Endoscopy Devices Market increased at around 7.6% CAGR.
Some of the reasons driving market expansion include the increased frequency of age-related disorders and the rising need for endoscopic devices in therapeutic and diagnostic operations. The use of such equipment in the treatment and diagnosis of a variety of health conditions is advantageous as it allows for less intervention, thus reducing recuperation time.
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Globally, the geriatric population is growing, making this age group increasingly vulnerable to medical disorders requiring endoscopic intervention, such as pelvic abscess, liver abscess, endometriosis, gall stones, and intestinal perforation.
The growing preference for less invasive procedures, the increased acceptance of endoscopes for treatment and diagnostics, and technical improvements resulting in better applications are the primary factors driving the market’s rise. However, the market’s expansion is hampered by scarcity of qualified technicians and infections induced by a paucity of endoscopes.
Endoscopy enables procedures on more frail patients, such as the elderly, as well as the treatment of more difficult diseases like cancer. Reduced post-operative pain and problems, rapid recovery, lighter anaesthetic, and a shorter hospital stay are all advantages of endoscopy devices.
Minimally invasive procedures have been developed in surgery, interventional radiology, and advanced endoscopy to effectively treat a variety of disorders and improve patients’ postoperative results. The growing concern for less invasive treatments among the elderly population, along with the increasing occurrence of chronic ailments worldwide, have boosted the demand for endoscopic devices. Owing to this, Endoscopy Devices Market is projected to grow at a CAGR of 9.0% over the coming 10 years.
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- Endoscopy Devices Market was valued at US$ 44.8 Bn in 2021. According to Fact.MR, Endoscopy Devices Market revenue would increase 2.3X between 2022 and 2032, reaching roughly US$ 113.8 Bn by 2032.
- In terms of Application, Gastrointestinal (GI) Endoscopy accounts for the highest projected growth rate of 10.0% as compared to other segments and sub segments.
- In terms of segment Endoscopy Devices, sub segment Endoscopes accounts for the highest projected CAGR of 11.1% over the other sub segments during the forecast period.
- U.S. is the dominant region in Endoscopy Devices Markets with absolute dollar growth opportunity of around US$ 20 Bn.
Endoscopy Devices Market Report Scope
|Historical Data Available for||2017-2021|
|Market Analysis||US$ Bn for Value|
|Key Regions Covered||North AmericaLatin AmericaEuropeAsia PacificMiddle EastAfrica|
|Key Countries Covered||United StatesCanadaBrazilMexicoGermanyU.K.FranceSpainItalyRussiaChinaJapanSouth KoreaIndiaAustraliaSouth AfricaSaudi ArabiaUAEIsrael|
|Key Market Segments Covered||Endoscopy DevicesApplicationEnd-useRegion|
|Key Companies Profiled||Olympus CorporationFUJIFILM Holdings CorporationStryker CorporationBoston Scientific CorporationKarl Storz GmbH & Co. KGPentax MedicalHoya CorporationJohnson & JohnsonMedtronic PlcMedrobotics CorporationRichard Wolf GmbHSmith & Nephew Plc|
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Key Points Covered in Endoscopy Devices Market Survey:
- Market Estimates and Forecasts (2017-2032)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Endoscopy Devices Market and How to Navigate
- Recommendation on Key Winning Strategies
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