(PharmaNewsWire.Com, June 12, 2019 ) Global High Definition Endoscopy Market is expected to grow at a CAGR of 5.5% during the forecast period 2019 to 2025.Owing to better visualization of internal organs and human tissues during the endoscopy treatment is driving the demand for high definition (HD) endoscopes. Shifting customer preferences from standard definition (SD) endoscopes to high definition (HD) endoscopes could incur growth opportunities for the market.
The demand for high definition (HD) endoscopes driven due to the increasing number of gastrointestinal and colon cancer patients cases that are expected to grow further corresponding to changing lifestyle patterns and food habits.
Technological advancements and launch of new products with innovative features such as 3D and 4K with high resolutions and wide colour spectrum images are expected to drive the demand.
High maintenance cost and unavailability of skilled medical professionals are challenging the global high definition endoscopy market.
Among the end-user industries, hospitals dominate among the other end user industries. Availability of more number of endoscopy treatments is expected to drive the demand for high definition endoscopies. Increased customer awareness regarding the availability of experienced medical professionals dealing with the high definition (HD) endoscopes and other factors such as high resolution are boosting the market growth.
Approval of medical insurance and reimbursements offered by health insurance companies and governments are fuelling the growth of market size. Increase in government spending on healthcare and medical care to safeguard the health of the public is witnessed to expand the demand for hospitals.
Further, end-user industries of high definition (HD) endoscope market are segmented into clinical centres and others.
Increased disposable income of customers tends to owe them for minimally invasive surgeries preferring for fewer cuts, scars, and less recovery time are driving the demand. Increasing aged population in North America is witnessed to suffer from gastrointestinal disorders and colon cancers are fuelling the market growth. Medical insurance approval and reimbursement for some diseases treated with endoscopy are also boosting the growth of high definition endoscopes market.
Other factors such as technological advancements and the launch of new products are owing to growth opportunities of high definition (HD) endoscopy market.
Further, regional analysis is analysed for countries across the Asia Pacific, Europe, South & Central America, and Middle East & Africa.
Key players operating in the high definition (HD) endoscopy market are Olympus Corporation, Karl Storz GmbH & Co KG., B. Braun Melsungen AG, Stryker Corporation, and Boston Scientific Corporation, Ethicon, Inc. (Johnson & Johnson), Fujifilm Holding Corporation, Medtronic PLC, PENTAX Medical (Hoya Corporation), and Smith & Nephew PLC among others.
Acquisitions, joint ventures, the launch of new products, and collaborations with others are the key strategies adopted by key players in the market to sustain in the competitive landscape.
In August 2018, PENTAX Medical acquired Plasma Biotics SAS to strengthen its hygiene portfolio.
In August 2018, Medigus Ltd. signed a distribution agreement with Micro-Tech Endoscopy USA, Inc., to enter into US market.
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