Global Endoscopy Devices – Application Analysis

The Global market for Endoscopy Devices is expected to reach $42 billion by the end of 2020 growing at a CAGR of around 7% from 2014 to 2020. Currently, the global market is driven by factors such as increased adoption rates, rapid technological advances, rising demand for minimally invasive surgeries and rise in the favourable FDA approvals. However, expensive procedures & equipment and lack of proper skilled labor are hindering the growth of the market on a global scale.

Endoscopy is a non-invasive procedure of examining the digestive tract of the person. With the help of an endoscope, a flexible tube with a light guide and camera captures pictures of the digestive tract and displays it on a color TV monitor. During the process of upper endoscopy, the endoscope gives the doctor a clear view of esophagus, stomach and upper region of the small intestine. The examination of the intestine is done by allowing the endoscope to enter into the large intestine through the rectum.

Endoscopy procedures, over the last decade, have become very common due to increase in the number of diagnostic procedures due to rise in the number of diseases and also due to increasing awareness regarding minimally invasive surgical procedures. The diseases which are commonly diagnosed using endoscopy devices are breathing disorders, chronic diarrhoea, incontinence, internal bleeding, irritable bowel syndrome, stomach ulcers and urinary tract infections.

North America accounts for the largest market share in the global market led by the large number of endoscopic treatment options followed by Europe and Japan. Increase in the healthcare spending, rising affordability and changing lifestyle patterns attribute to the growth of emerging economies such as India and China.

Major market players in the endoscopy devices market include Aesculap, Inc., Artherx, Inc., Boston Scientific Corporation, Conmed Corporation, Cook Medical, and Covidien plc. The Endoscopy Devices market is segmented on the basis of Product (Endoscopes, Visualization Equipment and Endoscopy Accessories), Application (Laparoscopes, GI Endoscopes, Bronchoscopes, Arthroscopes, Urology Endoscopes, Cystoscopes, Gynecology Endoscopes, Neuroendoscopes, Sigmoidoscopes, Laryngoscopes, Pharyngoscopes, Duodenoscopes, Nasopharyngoscopes, Rhinoscopes and Others) & Region (North America, Europe, Asia Pacific and Rest of the World).

Coming to the applications sector, Laparoscopes and GI Endoscopes dominate the global market. This is primarily due to the increase in the global demand for minimally invasive surgery procedures. This market is hugely predominant in the North America sector and is growing at a rapid speed in the emerging markets. The fact that these procedures are error free is an indication of the demand of endoscopic equipment market globally. Its wide ranges of applications in cardiac surgery, colorectal surgery, dermatological surgery, neurosurgery and urology based surgeries is the reason the market is on the rise currently. In the application sector, laparoscopy accounts for nearly 20% of the global market share followed by the likes of GI endoscopes and Arthroscopes.

This trend is followed in almost all geographical sectors and is expected to grow at a good rate in the Asia Pacific market in the near future.

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