Endoscopy equipment market set to expand
The global market for endoscopy equipment is expected to reach $37.9 billion by 2018, according to Endoscopy Equipment Market by Endoscopes (Rigid, Flexible, Capsule), by Visualization Systems (HD, 3D Camera, Wireless Display & Monitor), Others (Endoscopic Ultrasound, Carts), by Application (Colonoscopy, GI Endoscopy) – Global Forecasts to 2018
, a new market report published by MarketsandMarkets of Dallas.
The global endoscopy equipment market was valued at $28.2 billion in 2013 and is expected to grow at a compound annual growth rate of 6.1 percent from 2013 to 2018. This growth is attributed to the growing preference for minimally invasive surgeries and the concern for cost-effective pre- and postoperative care expenses. Advancements in technology, including increased angles in the endoscopic field of view, reduced outer scope diameter, and use of high-resolution 3-D systems and capsule endoscopes, are driving this market expansion. A growing aging population with favorable reimbursement scenarios and an increased prevalence of disease compound this increase.
The report analyzed the market of rigid, flexible, surgical and capsule endoscopes. Endoscopic instruments such as high-resolution video systems, endoscopy cameras, video processors, converters and light sources were also included, along with other tools such as insufflators, fluid management and ultrasound systems, biopsy forceps and valves.
North America holds the largest share of the global endoscopy market, followed by Europe and Asia. Increased health care spending, the establishment of endoscopic training centers and increased patient awareness of minimally invasive surgeries have poised countries such as India, China and Japan for market expansion. Middle Eastern, North African, South American and Pacific countries are likely to witness steady growth through training and investment, while several government initiatives in New Zealand are working to develop an efficient workforce for endoscopy services.