Global Endoscopy Devices Market (2021-2026)
DUBLIN, August 27, 2021 / PRNewswire / – The “Endoscopy Devices Market – Forecasts 2021-2026” report was added to ResearchAndMarkets.com offer.
The endoscopy devices market is expected to grow at a CAGR of 5.78% during the forecast period to reach 16.754 billion US dollars by 2026 from 11.309 billion US dollars in 2019.
Endoscopy devices are used to visualize internal organs and the functioning of the body. Instruments used to undertake endoscopy include an endoscope, flexible tubes, viewing systems, and other support systems. The tube is passed through the mouth into the respective organ which needs to be visualized to locate the problems. The main reason for the growth of the endoscopy devices market is the increasing prevalence of diseases around the world. In addition, these devices are also used by doctors during surgical procedures for better functioning and a clear view of the operating areas.
Rising healthcare standards coupled with better healthcare infrastructure and technological advancements have made diagnosis better and readily available for early disease localization and better treatment. Governments around the world are also investing heavily in improving the healthcare industry, which is expected to increase the size of the endoscope devices market. However, the limited availability of skilled technicians and the risk of spreading infections and diseases may restrain the growth of the market.
Gastrointestinal diagnostics and surgery are the major employers of endoscopy devices.
Based on the application, diagnostic and gastrointestinal surgeries is the main division in healthcare that uses endoscopy devices. These devices are effective in locating symptoms and diagnosing them. The hectic work life and complex lifestyle have severely affected a person’s mealtaking schedules and cycles. In addition, the increasing consumption of frozen foods and ready meals has had a significant impact on food intake and the digestive system. Disrupted meal cycles have led to an increase in stomach problems, especially in those who eat more frozen and ready-to-eat foods. The increase in cases of gastrointestinal issues will drive the segment demand for endoscopic devices by gastrointestinal medical line.
In addition, the increase in cardiovascular disease cases will increase the market size of endoscopy device demand by segment. A hectic lifestyle has created immense stress resulting in an increase in cases of preventable cardiovascular disease. Deaths from cardiovascular disease are also on the rise, raising concerns. Data from the 2021 American Herat Association Heart Disease and Stroke Statistics report shows that worldwide, 18.6 million people lost their lives to cardiovascular disease in 2019, while 523.2 million new cases have been discovered. Deaths increased 17.1% from the previous decade while cases increased 26.6%. the increase in cases will significantly increase the demand for healthcare facilities and therefore endoscopy devices.
The increase in the elderly population will increase the demand for endoscopy devices by the neuro and spinal sector of the healthcare industry.
Global demographic changes have led to an increase in the proportion of the elderly population with an increase in cardiovascular, neuro, gastro. and spinal problems and diseases. This has dramatically increased the demand for endoscopy devices for diagnosis and treatment.
In addition, technological innovation has resulted in automation in the industry, which has raised the standards of efficiency and safety. The introduction of robotic endoscopy machines has increased the success rate of diagnosis and treatment, while reducing the risk of infections. In addition, increased investment in building social, surgical and nursing robots has increased the scope of the market. The government is also actively investing in the development of these robots for a better health sector.
The increase in government spending will increase the scope of the market during the forecast period.
An increase in government spending in the healthcare sector globally will significantly increase the market size for endoscopy devices. With the development of infrastructure in developing and developed countries, governments are increasing their spending in the health sector for a better way of life and a better standard of living. Global health expenditure (percentage of GDP) increased from 9.439% in 2012 to 9.849% in 2018 (Source: WHO). Another WHO report observes that the health sector is growing faster than the rate of growth of the global economy. Particularly in middle-income countries, where the sector is growing 6.3% year over year, while the economy is growing at a rate of 5.9% year over year. The development in the healthcare sector widens the market prospects of endoscopy devices for diagnosis and treatment.
The coronavirus pandemic has increased the size of the endoscopy devices market, which has positively impacted the industry. To contain the spread of the virus, the government blew up the healthcare industry by investing in better devices and technology for faster diagnosis, treatment and recovery of patients. The government of India increase in health spending from 1.5% of GDP in 2020-2021 to 1.8% in the Union budget 2021-2022. Likewise, the Russian government is spending 67 billion US dollars. from China public spending increased by 2.8% for 3,790 billion US dollars in 2020. The increase in global spending in the healthcare sector and construction of new hospitals has increased the market opportunities for endoscopy devices and will provide stable market growth during the forecast period.
Main topics covered:
2. Research methodology
3. Executive summary
4. Market dynamics
4.1. Market factors
4.2. Market constraints
4.3. Porters Five Forces Analysis
4.4. Industry value chain analysis
5. Endoscopy Devices Market, by Type
5.3. Operating devices
5.4. Visualization systems
6. Endoscopy Devices Market, By Application
6.2. Gastrointestinal surgeries
6.3. Surgery Urology / Gynecology
6.4. ENT surgeries
6.5. Cardiovascular surgeries
6.6. Neuro / spinal surgery
7. Endoscopy Devices Market, By Use
8. Endoscopy Devices Market, By Geography
9. Competitive environment and analysis
9.1. Major players and strategic analysis
9.2. Emerging players and lucrative market
9.3. Mergers, acquisitions, agreements and collaborations
9.4. Supplier competitiveness matrix
10. Company profiles
10.1. Arthrex inc.
10.2. Boston Scientific Society
10.3. Conmed Company
10.4. to cook
10.5. Olympe Society
10.7. Hoya Company
10.8. Karl Storz GmbH & Co.
10.9. Smith and nephew
For more information on this report, visit https://www.researchandmarkets.com/r/21sijo
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SOURCE Research and Markets