Endoscopy Device Market - Global Industry Insights, Trends, Size, Share, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Jun 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Endoscopy devices are minimally-invasive diagnostic medical devices used to assess the internal organs of the body. These devices are used to examine unusual symptoms and to perform surgery. Such as device comprises a flexible tube with an attached camera, which allows the doctor to view potential threats without a large incision. While, therapeutic endoscopy devices are modified with surgical instruments to carry out surgeries such as removal of kidney stones and fibroids. The procedure is associated with minimal post operation complications, thus making it the most preferred and pursued procedure in surgery and diagnostics. These devices include operative devices and visualization systems, which gives direct insight of the organs for efficient treatment, unlike other medical imaging devices.

Increasing prevalence of chronic diseases among the aging population to boost market growth

According to the World Health Organization in 2011, the world's population aged 60 years and above will double from 11% in 2000 to 22% by 2050. Growing geriatric population, who are more prone to cancer, orthopedic, and ophthalmic gastrointestinal diseases, is expected to boost market growth. Also, endoscopy assures low-risk procedures and are easily covered by health insurance. Additionally, rising prevalence of diseases requiring endoscopy for diagnosis and treatment, rising geriatric population, technological advancements, increasing number of FDA approvals, and high number of reimbursement policies are other factors driving growth of the endoscopy devices market.

The global endoscopy device market is segmented on the basis of product type, applications, end user, and geography.

On the basis of product type, the global endoscopy devices market is segmented into:

  • Endoscopes
  • Rigid Endoscopes
  • Flexible Endoscopes
  • Capsule Endoscopes
  • Surgical Endoscopes
  • Robot-assisted Endoscopes

On the basis of applications, global endoscopy devices market is segmented into:

  • Gastrointestinal Endoscopy
  • Gynecology Endoscopy
  • Urology Endoscopy
  • Bronchoscopy
  • Laryngoscopy
  • Neuroendoscopy
  • Others

On the basis of end user, global endoscopy devices market is segmented into:

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Others

Development of advanced 3D imaging providing depth perception is expected to boost market growth

Regional segmentation of the global endoscopy equipment market by Coherent Market Insights comprises North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. According to the World Journal of Gastrointestinal Endoscopy in 2016, 7 million people in the U.S. showed symptoms of Gastroesophageal Reflux Disorder (GERD), the number for which was expected to reach around 9 million by 2025. North America thus holds a dominant position in the global endoscopy equipment market with the increasing prevalence of diseases and increasing number of approved government grants. Europe is likely to witness surging demand as a result of rapidly aging population, increasing obese population, growing incidence of associated diseases, as well as advancements in technology pertaining to the devices. According to the Journal of Neurogastroenterology in 2011, the prevalence of endoscopic reflux esophagitis in East Asia accounted for 6% in 2005, which increased to 15% in 2015.

Robot-assisted endoscopic devices are expected to boost market growth in the future

Key players operating in the global endoscopic devices market include Artherx Inc., Boston Scientific Corporation, Conmed Corporation. Covidien has the largest market for capsule endoscopy due to the increased preference amongst physicians globally. Other vendors include Olympus Corporation, Ethicon, Karl Storz GmbH, Fujifilm Holding Corporation, and Richard Wolf GmbH.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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