Endoscopes are used in various applications such as GI endoscopy (for GI tract based applications), arthroscopy (for joints), cystoscopy, hysteroscopy and ureteroscopy (for urology applications), laparoscopy (for various surgeries in pelvic and abdomen area), bronchoscopy (for lungs) laryngoscopy (larynx), and other types that covers various parts.
Asia Pacific endoscopy devices market is estimated to account for US$ 11,032.5 Mn in terms of value in 2020 and is expected to reach US$ 18,551.0 Mn by the end of 2027.
Asia Pacific Endoscopy Devices Market: Drivers
R&D of new endoscopy technologies is expected to propel growth of Asia Pacific endoscopy devices market over the forecast period. For instance, in June 2020, Xenocor, Inc. received the U.S. patent in connection with the Xenoscope Single-use Laparoscopic System, which provides valuable protection for materials used in the disposable scope that reduce fogging and improve the clarity of the resulting images provided by the system.
Asia Pacific Endoscopy Devices Market: Opportunities
Increasing adoption of hyperspectral imaging is expected to offer lucrative growth opportunities for players in Asia Pacific endoscopy devices market. Hyperspectral imaging has been used in conjunction with rigid endoscopy to detect cancer in vivo.
Asia Pacific Endoscopy Devices Market: Restraints
Use of duodenoscopes can lead to patient-to-patient transmission of infection, if they are not thoroughly cleaned and disinfected. Such scenario is expected to hinder growth of the market.
Asia Pacific endoscopy devices market was valued at US$ 10,287.7 Mn in 2019 and is forecast to reach a value of US$ 18,551.0 Mn by 2027 at a CAGR of 7.7% between 2020 and 2027. Major factor driving the growth of Asia Pacific endoscopy devices market during the forecast period include increasing prevalence of gastrointestinal diseases, and technological advancement.
Visualization Systems held dominant position in Asia Pacific endoscopy devices market in 2019, accounting for 47.3% share in terms of value, followed by endoscopic operative devices and endoscope devices, respectively. Technological advancement in visualization systems such as endoscopic ultrasound devices, high definition (hd) visualization systems, and others is supporting growth of the segment.
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in June 2020, 3NT Medical received the U.S. Food and Drug Administration’s 510(k) clearance for the Colibri Micro ENT Scope, a single-use endoscope specifically designed for Otology.
The market is witnessing launch of cleaning products for endoscopy devices. For instance, in April 2020, Toray, Industries Inc. launched TORAYSEE for ES Micro Fiber Wiping Cloths specified for cleaning endoscope lenses of laparoscopic surgery.
Asia Pacific Endoscopy Devices Market: Competitive Landscape
Major players operating in Asia Pacific endoscopy devices market include, Accellent Inc., Aesculap Inc., Arthrex Inco, Boston Scientific Corporation, 3NT Medical, AnX Robotica Corporation, C.R. BARD INC, Conmed Corporation, Olympus Corporation, KARL STORZ Endoscopy-America, Inc., Cook Medical Incorporated, and Fujifilm Holding Corporation.
Asia Pacific Endoscopy Devices Market: Key Developments
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in March 2020, enlightenVue received the U.S. FDA 510(k) clearance for surgiVue single-use platform of micro endoscopes.
Similarly, in January 2020, PENTAX Medical received the U.S. FDA 510(k) clearance for its IMAGINA Endoscopy System, an endoscopy platform for gastrointestinal (GI) procedures at ambulatory surgery centers.