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“The endoscopy equipment market projected to grow at a CAGR of 6.6% during the forecast period (2019–2024).”
The global endoscopy equipment market is projected to reach USD 35.2 billion by 2024 from an estimated USD 25.6 billion in 2019 at a CAGR of 6.6% during the forecast period. The key factors driving the growth of this market include growing demand for endoscopy, growing investments, funds, and grants, rising number of hospitals, and increasing hospital investments in endoscopy facilities, and technological advancements. However, unfavorable healthcare reforms in the US and the high cost of endoscopy procedures & equipment and limited reimbursement in developing countries are expected to restrain the growth of this market.
“By application, the GI endoscopy segment is expected to grow at the highest CAGR during the forecast period (2019–2024).”
Based on application, the market is segmented into laparoscopy, gastrointestinal endoscopy, arthroscopy, obstetrics/gynecology endoscopy, urology, bronchoscopy, mediastinoscopy, ENT endoscopy, and other applications.
The GI endoscopy applications segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the rising geriatric population, improving healthcare infrastructure in developing countries, and the increasing number of colonoscopy procedures performed in developed countries.
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“Asia Pacific (APAC) to witness the highest growth during the forecast period (2019-2024)”
Asia Pacific is expected to witness the highest growth from 2019 to 2024. The highest growth rate of the APAC market is attributed to universal healthcare coverage and the presence of a well-developed healthcare system in Japan, large patient population and healthcare infrastructure improvements in China, and rising medical tourism in India.
A breakdown of the primary participants referred to for this report is provided below:
- By Company Type: Tier 1–54%, Tier 2–26%, and Tier 3–20%
- By Designation: C-level–44%, Director-level–33%, and Others–23%
- By Region: North America–36%, Europe–28%, Asia Pacific–25%, Rest of World–11%
The prominent players in the global endoscopy equipment market are Olympus (Japan), KARL STORZ (Germany), Stryker (US), Boston Scientific (US), Ethicon (US), Fujifilm Corporation (Japan), Medtronic (Ireland), Hoya Corporation (Japan), Richard Wolf GmbH (Germany), Smith & Nephew (UK), Cook Medical (US), and B. Braun (Germany).
- The report analyzes the endoscopy equipment market and aims at estimating the market size and future growth potential of this market based on various segments such as product, application, end user, and region.
- The report also includes competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
Reasons To Buy the Report
- The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater share.
- Firms purchasing the report could use one, or any combination of the below mentioned five strategies.
This report provides insights into the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the endoscopy equipment market. The report analyzes the market based on the product, application, and end-user
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the endoscopy equipment market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various endoscopy equipment across regions
- Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the endoscopy equipment market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the endoscopy equipment market