SAN FRANCISCO, Dec. 15, 2021 /PRNewswire/ -- The global endoscopy operative devices market size is expected to reach USD 11.7 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.1% from 2021 to 2028. The rising prevalence of chronic diseases, surging demand for minimally invasive procedures, and increasing technological advancement in endoscope systems are the key factors aiding the market growth. An increase in the preference for keyhole or minimally invasive surgeries due to shortened hospitalization reduced post-operative complications, and decreased blood loss during surgeries is expected to fuel the market growth. The growing geriatric population burdened with chronic diseases is rapidly increasing across the globe and is a potential consumer base for endoscopes. This is likely to significantly drive the market over the forecast period.
Key Insights & Findings from the report:
- The access devices product segment dominated the market in 2020 owing to the growing adoption rate of endoscopy operative devices for diagnostic and therapeutic purposes
- The gastrointestinal (GI) endoscopy application segment dominated the market in 2020 due to the increase in gastroscopies for diagnosing and treating GI disorders
- North America dominated the market in 2020 due to the improved healthcare infrastructure and the high adoption of advanced technologies
Read 120 page market research report, "Endoscopy Operative Devices Market Size, Share & Trends Analysis Report By Product (Access Devices, Energy Systems), By Application (Gastrointestinal (GI) Endoscopy, Laparoscopy), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
The rising prevalence of gastrointestinal, respiratory, urological, and gynecological disorders, wherein endoscope systems are used to diagnose and treat the ailment, is expected to significantly contribute to the market growth. The growing prevalence of cancer and obesity across the globe is expected to drive the demand for endoscopy operative devices. For instance, the introduction of endoscopic bariatric surgeries as preventive measures is contributing to the growing demand. Similarly, laryngoscopy, colonoscopy, and upper endoscopy are used to diagnose lung, colorectal, and breast cancers. In addition, owing to an anticipated increase in demand for diagnostic and surgical procedures, the market is poised to grow at a higher rate from the first quarter of 2021.
Furthermore, technological advancements and innovations are expected to boost overall growth. In March 2019, Olympus Corporation launched "PowerSpiral" to treat and diagnose various conditions of the digestive tract. This product uses a motorized rotating attachment that mounts the scope, gently grips the mucosa, and works the endoscope in the small intestine. Moreover, these advancements in structures and systems of endoscopy lead to making the procedural and surgery expenses more cost-effective and result in an improved quality of life. These advancements have enabled the smooth transition from open surgeries to minimally invasive procedures.
Grand View Research, has segmented the global endoscopy operative devices market on the basis of product, application, and region:
- Endoscopy Operative Devices Product Outlook (Revenue, USD Million, 2014 - 2028)
- Energy Systems
- Access Devices
- Suction & Irrigation Systems
- Hand Instruments
- Wound Retractors
- Endoscopy Operative Devices Application Outlook (Revenue, USD Million, 2014 - 2028)
- Gastrointestinal (GI) Endoscopy
- Obstetrics/ Gynecology Endoscopy
- Urology Endoscopy (Cystoscopy)
- Endoscopy Operative Devices Regional Outlook (Revenue, USD Million, 2014 - 2028)
- North America
- Asia Pacific
- New Zealand
- Latin America
- South Africa
- Saudi Arabia
List of Key Players of Endoscopy Operative Devices Market
- Cook Medical Inc.
- Boston Scientific Corporation
- Ethicon Endo-Surgery, Inc.
- Karl Storz
- CONMED Corporation
- Richard Wolf GmbH
- Fujifilm Holdings Corporation
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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