Endoscopy Devices Market Trends and Business Opportunities by 2025 – Olympus Corporation, STRYKER, Medtronic, KARL STORZ SE & Co. KG, Ethicon US, LLC., Richard Wolf GmbH, Boston Scientific Corporation, Smith & Nephew, Cook, and FUJIFILM Holdings

The global endoscopy devices market accounted to US$ 26,333.3 Mn in 2017 and is expected to grow at a CAGR of 7.5% during the forecast period 2018 – 2025, to account to US$ 45,612.3 Mn by 2025.

The market for endoscopy devices is expected to grow in the coming years, owing to the technological advancements made by the players operating in the market. These technological advancements have made the procedure of endoscopy more easy as well as the results obtained are more accurate.

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The prominent players operating in endoscopy devices market are Olympus Corporation, STRYKER, Medtronic, KARL STORZ SE & Co. KG, Ethicon US, LLC., Richard Wolf GmbH, Boston Scientific Corporation, Smith & Nephew, Cook, and FUJIFILM Holdings Corporation. Various players in the market have obtained approvals for their products launches. These approvals have helped the patients as well as the healthcare professionals to get better services. For instance, Cook received FDA approval for Cellvizio Confocal Laser Endomicroscopy (CLE) System and the Confocal Miniprobes in March, 2018.

Various technological advancements made by the players in endoscopy devices is driving the market for endoscopy devices over the forecast period.

Global endoscopy devices market, based on the product class is segmented into endoscopes, visualization systems, other endoscopy equipment, and accessories. The endoscopes segment has been further divided as rigid endoscopes, flexible endoscopes as well as capsule endoscope. In 2017, the endoscopes segment held the largest share in the market, by product. Moreover, the segment is also anticipated to grow at a significant rate during the forecast period.

North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period. North American market is driven by the factors such as, FDA approvals obtained by the market players as well as rising prevalence of cancer cases.

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Strategic Insights

Product launches and approvals were observed as the most adopted strategy in global endoscopy devices industry. Few of the recent product launches and approvals made by the players are listed below;

2018: In May, 2018, Olympus Corporation Launched ENF-VT3, the world’s first1 rhino-laryngo videoscope to incorporate 4-direction angulation Capability. The launch is expected to help the company to offer a strong product portfolio in the market.

2017: In September, 2017, Cook Medical’s Urology business began the distribution of Cellvizio Confocal Laser Endomicroscopy (CLE) System manufactured by Mauna Kea Technologies. Cellvizio has been made available to urologists throughout the United States.

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Posted by on Friday August 23 2019, 1:48 AM EDT. All trademarks acknowledged. Filed under Biotechnology, Business Services, Diagnostics, Healthcare, Medical Devices, Pharmaceuticals. Comments and Trackbacks closed. Follow responses: RSS 2.0

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