Fior Markets launched a study titled “Global Flexible Endoscopes Market by Product (Fibro Scope, Flexible Videoscope, Visualization Systems, Consumables and Accessories, Others), Application, End Users, Region” and Global Forecast 2018-2025.
The global flexible endoscopes market is expected to reach USD xx Million in 2017 to USD xx Million by 2025 at a CAGR of xx during the forecast period from 2018-2025. Rising prevalence of diseases chronic diseases and high demand of minimally invasive surgeries in various types of endoscopes in medical procedures such as laparoscopy, cystoscopy, and bronchoscopy are boosting the demand of the market.
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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.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. 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.
Prominent industry players in the market include 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 plcand others.Extensive product portfolio, Merger and expansion are key strategies by major players to gain competitive edge.For instance, in 2016, Medtronic plcreceived expanded indicationfrom U.S. Food and Drug Administration (FDA) for its Pill Cam COLON 2 capsule endoscope.This is the only non-invasive diagnostic test,which directly visualizes the colon for the evaluation of polyps in patients who are at major risks for colonoscopy.