Dublin, March 06, 2023 (GLOBE NEWSWIRE) -- The "Global Endoscopes Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global endoscope market is projected to grow at a CAGR of 8.92% to reach US$13.795 billion by 2027, from US$7.586 billion in 2020.
Companies Mentioned
- Ambu A/S
- OTU Medical
- Medtronic
- Coloplast Corp
- PENTAX Medical
- Richard Wolf Medical Instruments
- KARL STORZ
According to the data and the statistics that have been provided by the World Health Organization (WHO), cancer is considered to be one of the leading causes of death in the world and was responsible for around 9.6 million deaths globally in 2018. Dietary factors are one of the leading causes of cancer and can lead to lung cancer, oesophagal cancer, and breast cancer, among others.
According to the WHO, the techniques that WHO recommends for reducing the burden of cancer include leading a healthy, balanced lifestyle, and early detection of cancer. Endoscopes are one such instrument that can be used to detect cancer in its early stages and are used by many doctors.
In this exam, a tube with an imaging system is inserted into the location of suspected infection or disease, and then the doctors can easily analyze the inner lining and surroundings for signs and symptoms of cancer such as ulcers and red spots. Thus, these factors are leading to increased demand and adoption of endoscopes in the different end-users such as hospitals, diagnostic centres, and ambulatory care centres to detect cancer early and carry out examinations, which is leading to a boost in the market's growth.
Endoscope product offerings from major market players
The market players are highly active in the market by offering and making available a variety of endoscopes, including single-use and reusable products, with enhanced and advanced features in order to cater to the rising demands from different end-users. This, in turn, is helping them improve their market position.
The disposable and single-use types of endoscopes are expected to hold a significant market share over the forecast period owing to the fact that they are able to effectively lower the chances of transmission of healthcare-associated infections (HAIs)
According to the data and the statistics, provided by the WHO (World Health Organization), urinary tract infections are caused by the pseudomonas aeruginosa bacteria and pneumonia is caused by Mycobacterium tuberculosis, which can be transmitted through the use of infected bronchoscopes and cystoscopes that are used for different endoscopic exams. The disposable type and single-use type endoscopes are estimated to hold a significant market share over the forecast period as they are can effectively contain the infections the patients being operated on have and minimizes the problems associated with their transmission to other patients.
The North American region is estimated to hold a noteworthy share over the forecast period owing to rising cases of cancer in high-income countries such as the US and the Asia Pacific region. The latter is estimated to increase its share over the forecast period as a result of the rising investments being made into the medical sector
The North American region is expected to hold a noteworthy market share over the forecast period owing to the fact that there are many leading market players involved in catering to the demands of the different end-users such as ambulatory care centres, hospitals, and diagnostic centres by launching and providing top-quality equipment and products.
Moreover, the usage of endoscopes is growing in order to detect cancer, which is rising due to the unhealthy lifestyles being led by individuals in countries such as the US. The equipment is able to analyze the inner lining of the organs to better judge the early and developmental stage symptoms of different types of cancer and other serious diseases.
In addition, the Asia Pacific region is estimated to increase its share over the forecast period owing to the fact that there are increasing initiatives being taken by the government in order to improve the facilities provided by the healthcare sector. Additionally, there are also investments being made in the R&D of better medical equipment in order to deal with and detect the serious diseases that are burdening the population.
Impact of the COVID-19 pandemic
The COVID-19 pandemic resulted in an economical slowdown worldwide, owing to the closure of significant industry functions and markets. The endoscopes market also suffered a significant drop in demand, since most healthcare institutions were more engaged with controlling viral infection, leading to a decline in other medical procedures. Government agencies also urged people to refrain from doing medical procedures, unless absolutely necessary.
Moreover, the risk of contamination or infection among patients led to a decrease in the endoscopes market demand. The healthcare sector also saw a shift in demand from reusable endoscopes to single-use endoscopes in the healthcare industry to cope with the increasing number of infection cases. Moreover, with the resumption of major industrial processes and the lifting of COVID-19 protocols, the market is expected to grow significantly.
Market Segmentation:
By Type
- Single-Use
- Reusable
By Device Type
- Rigid Endoscope
- Flexible Endoscope
- Capsule Endoscope
- Assisted Endoscope
By Exam Type
- Gastroscopy
- Colonoscopy
- Laparoscopy
By End-Users
- Hospitals
- Diagnostics Centers
- Ambulatory Care Units
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Asia Pacific
- Japan
- China
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
Report Metrics:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value (USD) in 2020 | $7.59 billion |
| Forecasted Market Value (USD) by 2027 | $13.8 billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/6a7zm4
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