As per the report published by Fior Markets, the global flexible endoscopes market is expected to grow from USD xx Million in 2017 to USD xx Million by 2025 at a CAGR of xx during the forecast period from 2018-2025. . North America and Europe both are projected to witness higher demand for flexible endoscopes. This growth can be attributed to technological advancements, rapidly aging population, increased obesity rates are some of the important factors driving the market in the region. Asia Pacific region is expected to attain the highest growth due to increasing chronically ill population, improving healthcare infrastructure and expansion to rural healthcare facilities.
Global Flexible Endoscopes Market by Product (Fibro Scope, Flexible Videoscope, Visualization Systems, Consumables and Accessories, Others), Application, End Users, and Region” and Global Forecast 2018-2025.
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Major players operating in the market are Ethicon Endo-Surgery, Inc., Stryker Corporation, Covidien Plc., Olympus Corporation, Boston Scientific, Arthrex, Inc., Fujifilm Holdings Corporation, Hoya Corporation, Richard Wolf GmbH, Karl Storz, ConMed, Aesculap, Inc., Smiths Group, Medtronic plc and others. Major firms are incorporating various strategies to increase their market reach. For instance, in June 2017, Olympus launched ENDOEYE 3D video endoscope, which allows faster and precise endoscopic surgery by using 3D imaging system for depth perception.
The product segment is classified into fibro scope, flexible videoscope, visualization systems, consumables & accessories and other endoscopy equipment. These are increasingly being used in the detection of tumors, ulcers and inflammation in rectum and colon. Routine colonoscopy is used in the diagnosis of intestinal cancer. Hence, reducing need for invasive diagnosis. Rising number of cancers and tumors worldwide is supporting the growth of the segment. Application segment is divided into laparoscopy, gastrointestinal endoscopy, arthroscopy, obstetrics/gynecological endoscopy, urology endoscopy, bronchoscopy, mediastinoscopy, otoscopy and laryngoscopy. Gastrointestinal endoscopy segment is expected to account for the largest share due to high prevalence of gastrointestinal disease and increasing demand of invasive, low risk of surgical site infection surgeries. End users segment is bifurcated into hospitals, diagnostic labs and ambulatory surgery centres. Hospitals are preferred choice for these procedures.
High precision of these tools have increased adoption in numerous fields of medical sciences and development of portable surgical devices are expected to enhance the growth of the segment. In addition, rising geriatric population and increasing incidences of chronic disease are boosting the growth of the market. High cost of these instruments may restrict the growth of the market. However, rising adoption of minimally invasive surgical procedures driving the growth of the market in forecast period.
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