DUBLIN--(BUSINESS WIRE)--The "Endoscopy Equipment Market by Product, Application - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The endoscopy equipment market is projected to reach USD 35.23 billion by 2024 from USD 25.59 billion in 2019, at a CAGR of 6.6% during the forecast period.
The report analyzes the endoscopy equipment market and aims at estimating the market size and future growth potential of this market based on various segments such as product, application, end-user, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
Prominent players in the endoscopy equipment market are Olympus Corporation (Japan), KARL STORZ (Germany), Stryker Corporation (US), Boston Scientific Corporation (US), Ethicon, Inc. (the US), Fujifilm Holdings Corporation (Japan), Medtronic plc (Ireland), Hoya Corporation (Japan), Smith & Nephew (UK), Richard Wolf GmbH (Germany), Cook Medical (US), and B. Braun (Germany)
The endoscopy equipment market projected to grow at a CAGR of 6.6% during the forecast period (2019-2024)
The key factors driving the growth of this market include growing demand for endoscopy, growing investments, funds, and grants, rising number of hospitals, and increasing hospital investments in endoscopy facilities, and technological advancements. However, unfavorable healthcare reforms in the US and the high cost of endoscopy procedures & equipment and limited reimbursement in developing countries are expected to restrain the growth of this market.
By application, the GI endoscopy segment is expected to grow at the highest CAGR during the forecast period (2019-2024)
Based on application, the market is segmented into laparoscopy, gastrointestinal endoscopy, arthroscopy, obstetrics/gynecology endoscopy, urology, bronchoscopy, mediastinoscopy, ENT endoscopy, and other applications.
The GI endoscopy applications segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the rising geriatric population, improving healthcare infrastructure in developing countries, and the increasing number of colonoscopy procedures performed in developed countries.
Asia Pacific (APAC) to witness the highest growth during the forecast period (2019-2024)
The Asia Pacific is expected to witness the highest growth from 2019 to 2024. The highest growth rate of the APAC market is attributed to universal healthcare coverage and the presence of a well-developed healthcare system in Japan, large patient population and healthcare infrastructure improvements in China, and rising medical tourism in India.
Market Dynamics
Drivers
- Growing Demand for Endoscopy
- Growing Investments, Funds, and Grants
- Rising Number of Hospitals and Growing Hospital Investments in Endoscopy Facilities
- Technological Advancements
Restraints
- Unfavorable Healthcare Reforms in the US
- High Cost of Endoscopy Procedures & Equipment and Limited Reimbursement in Developing Countries
Opportunities
- Growing Healthcare Market in Emerging Economies
Challenges
- Product Recalls
- Dearth of Trained Physicians & Endoscopists
- Infections Caused by Endoscopes
Companies Profiled
- B. Braun Melsungen AG
- Boston Scientific
- Cook Medical
- Ethicon
- Fujifilm
- Hoya Corporation
- Karl Storz
- Medtronic
- Olympus
- Richard Wolf GmbH
- Smith & Nephew PLC
- Stryker
For more information about this report visit https://www.researchandmarkets.com/r/s0rn5x
