Endoscopy is an imaging technology used for examination of interior organs or vessels of the body. This technology not only used to detect the damage but also helps in surgical or therapeutic procedures. Factors such as growing geriatric population with increasing prevalence of gastrointestinal, cancers, and other chronic diseases; rising number of hospitals; and technological advancement related to endoscopy are driving this market. Moreover, emerging opportunities from developing countries and rising preference for minimally invasive techniques provide high opportunities for this market in coming years.
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Analysis of Endoscopy Equipment and Software Market Segments:
The endoscopy equipment and software market is segmented by product (endoscopes, visualization systems, software, accessories, and other endoscopy equipment), by application (diagnostics and surgery), and by end user (hospitals and clinics, ambulatory surgical centres, and diagnostic centres).
Based on product, endoscopes commanded the largest share of global endoscopy equipment and software market due to their advantages such as easy procedure, low cost, flexible nature, real-time monitoring, and low risk compared to surgeries. Moreover, growing preference to minimally invasive procedures and use of disposable or single-use endoscopes help to increase the adoption of these equipment.
Based on application, diagnostics commanded the largest share followed by surgery. The large share of this segment can be attributed to the rising aging population with prevalence of diseases and improving healthcare infrastructure in developing countries.
By end user, hospitals held the largest share in 2017 due to government initiatives in developing countries. Moreover, physicians prefer to perform endoscopy in hospital-based environment due to emergence of any complications during endoscopic procedure.
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Endoscopy Equipment and Software Market Key Players
The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 5 years (2014–2018). The market share analysis of key players along with the profile in the global endoscopy equipment and software market research study are Olympus Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Boston Scientific Corporation (U.S.), Fujifilm Holdings Corporation (Japan), Stryker Corporation (U.S.), Ethicon, Inc. (U.S.), Medtronic Plc (U.S.), HOYA Corporation (Japan), Smith & Nephew (the U.K.), B. Braun (Germany), JOHNSON & JOHNSON (U.S.), and CONMED Corporation (U.S.), among others.
Endoscopy Equipment and Software Market Future Outlook:
Though endoscopy equipment and software market is expected to grow at fastest rate due to emerging opportunities like investment in healthcare sector, rising number of patients with chronic diseases, and growing preference towards minimally invasive procedures, the increasing focus of patients towards Ayurveda medicines is likely to hamper the market in coming years. Patients are trying to adopt the medical treatments that are cost effective and less harmful; thus, manufacturers need to focus on reducing the cost of endoscopy treatment and improving this technique so that it become affordable to everyone.
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