Endoscopy Device Market - Global Industry Insights, Trends, Size, Share, Outlook, and Opportunity Analysis, 2017–2025

Endoscopy devices are minimally-invasive diagnostic medical devices used to assess the internal organs of the body. Endoscopy devices are used to investigate unusual symptoms and perform certain types of surgery. An endoscopy device has a flexible tube with an attached camera, which allows the doctor to view potential threats without a large incision. Therapeutic endoscopy devices are modified endoscopes with surgical instruments attached to them to carry surgeries to remove kidney stones, fibroids. The simplicity of the procedure with minimal post operation complications makes it the most preferred and pursued procedure in surgery and diagnostics. The diverse applications of endoscopes to diagnose and treat various diseases has increased the adoption of flexible endoscopes across different healthcare settings. 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 in the elderly population will boost the endoscopy device market

According to the World Health Organization in 2011, the world's population aged 60 years will double from 11% in 2000 to 22% by 2050. A central factor that boosts the endoscopy device market is the increase in number of elderly people prone to cancer, orthopedic, ophthalmic gastrointestinal diseases. With the constant increase in the elderly people, age-linked ailments are expected to escalate sharply, thus driving the demand and consumption of endoscopy devices. Also, endoscopy assures low-risk procedures and are easily covered by health insurance. Additionally, high prevalence of diseases requiring endoscopy for diagnosis and treatment, rising geriatric population, technological advancements, FDA approvals, reimbursement policies are the other factors driving the endoscopy device market.

Visualization systems segment holds the lion share in the endoscopy device 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 equipment market is segmented into:

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

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

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

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

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Others

The advanced 3D imaging gives depth perception and is expected to dominate North American endoscopy equipment market

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. have symptoms of Gastroesophageal Reflux Disorder (GERD) and is expected to reach around 9 million by 2025. North America has therefore dominated the global endoscopy equipment market with the increasing prevalence of diseases and approved government grants.  Europe is likely to witness surging demand as a result of rapidly aging population, increased obesity rates, growing incidence of associated disease technological advancements and improved reimbursement status. According to the Journal of Neurogastroenterology in 2011, the prevalence of endoscopic reflux esophagitis in East Asia was 6% in 2005 which has increased to 15% in 2015. Therefore, increasing affluence and number of private hospitals, expansion to rural healthcare facilities play an important role in boosting the demand in China and India in the Asian market.

Robot-assisted endoscopic devices are expected to increase in demand in the future

The key players 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, 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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