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Research Reports

The Endoscopes Market to witness innovation-oriented sustenance

 

The global Endoscopes Market is there to witness an irrevocable In Upcoming Years. Innovation in the form of digital tools is the buzzword all across. Even though it’s the youth engaging in digital and social platforms, the geriatric population could get benefited by engaging the services therein. Thus, the exponential influx of e-business, online consultations, and booking, door-step delivery are likely to run through the enterprise going forward.

Endoscopes are gaining significant demand for arthroscopy, bronchoscopy, colonoscopy, and cystoscopy procedures. The shift toward minimally-invasive surgeries compared to open surgeries is likely to increase demand for endoscopes. Key stakeholders are introducing capsule endoscopes, robot-assisted endoscopes, and disposable endoscopes to overcome few drawbacks of conventional endoscopes.

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For instance, in July 2015, Medrobotics Corporation received FDA clearance for its Flex® Robotic System for sale in the United States. Also, international medical device manufactures are concentrating on entering the capsule and robot-assisted endoscopes market. For example, Medtronic now holds a leading market share in the capsule endoscopes market after its acquisition of Given Imaging Ltd.

The global endoscopes market was valued at US$ 11.8 Bn in 2019, and is expected to witness a CAGR of 6% during the forecast period (20202030).

Companies covered in Endoscopes Market Report

  • Medtronic Plc.
  • Olympus Corporation
  • KARL STORZ SE & Co. KG
  • Johnson & Johnson
  • Fujifilm Holdings Corporation
  • Richard Wolf GmbH
  • Braun Melsungen Ag
  • Stryker Corporation
  • PENTAX Medical
  • CONMED Corporation
  • Boston Scientific Corporation
  • Smith & Nephew PLC

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Key Takeaways of Endoscopes Market Study

“Growing gastrointestinal and colorectal cancer cases and higher acceptance of minimally-invasive procedures are likely to pace up market growth. Demand for endoscopes will continue to pick pace with the introduction of new technologies for accurate visualization,” says a PMR analyst.

COVID-19 Impact on Endoscopes Market

The COVID-19 outbreak is asserting players in the endoscope market to restructure their working methods to suit drastic market changes. With governments implementing strict norms on physical movements and emphasis on social distancing, production is being significantly affected. Furthermore, shortage of manpower and travel restrictions are disrupting the supply chain, thereby affecting the overall workflow of the market. However, endoscopes, being an essential commodity in the healthcare industry, are likely to overcome these shortcomings caused by the pandemic.

On the back of persistent demand for endoscopes from healthcare institutions to detect cardiovascular diseases – which continue to cause a significant number of deaths all over the globe – the endoscopes market is likely to mitigate heavy damage. On this premise, Cook Medical, a prominent endoscopes manufacturer, stated that, it’s keeping production running with the available workforce and ensuring that the supply of essential devices is unhindered.

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Product Portfolio Expansion and Distribution Partnerships – Key Strategies of Leading Manufacturers

Endoscope manufacturers are focusing on product portfolio expansion through partnerships and new product launches. For instance, in May 2018, FUJIFILM Holdings Corporation launched the EB-530P Slim Video Bronchoscope and Radial Probe EBUS System (PB2020-M).

Moreover, manufacturers are moving toward distribution agreements and partnerships to expand their presence in the global market. For example, in June 2018, CapsoVision announced a U.S. distribution partnership with Pentax Medical for capsule endoscopy solutions – CapsoCam Plus and CapsoCloud – across the country.

More Valuable Insights on Endoscopes Market

Persistence Market Research offers a unique perspective and actionable insights on endoscopes in its latest study, presenting historical demand assessment of 2015–2019 and projections for 2020–2030, on the basis of product (rigid endoscopes, flexible endoscopes, capsule endoscopes, and robot-assisted endoscopes), application (gastrointestinal (GI) endoscopy, laparoscopy, arthroscopy, obstetrics/gynecology endoscopy, urology endoscopy (cystoscopy), ENT endoscopy, bronchoscopy, mediastinoscopy, and others), usability (reusable and disposable), and end user (hospitals, ambulatory surgery centers, and specialty clinics), across seven major regions.

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