(PharmaNewsWire.Com, October 23, 2019 ) OG Analysis, a global market research firm, has announced the release of their “Global Endoscopy Instruments and Accessories Market Size, Outlook and Growth Opportunities to 2025: By Type (Insufflators, Irrigation Systems; Endoscope Tip Protector, Tubing, Water Systems; Forceps; Injection Needle; and Other Types)and By Region” Report proposes complete outlook of the market including comprehensive market analysis, Market Share, Market Size, Market Drivers, Challenges and Opportunities.
Global Endoscopy Instruments and Accessories Market is expected to grow at a CAGR of 3.33% during the forecast period 2019 to 2025. Favourable government initiatives across many countries are encouraging the companies operating in global endoscopic instruments and accessories industry to boost their investments. The market can be benefited from an increasing number of hospitals and rising investments in endoscopy facilities.
Furthermore, the rising awareness among the customers regarding the diseases that require endoscopic treatments and patients emerging towards the endoscopic treatments due to minimally invasive surgeries are also driving the market demand.
nsufflatorsmarket accounts for major share among the different types of endoscopy instruments and accessories owing to the patient’s reduced pain and discomfort during the gastrointestinal endoscopy treatments. Technological innovations such as carbon dioxide insufflators are witnessed to be fast growing owing to less pain and discomforts when compared to air insufflators.
Government initiatives for encouraging the use of insufflators in endoscopic treatments are anticipated to offer opportunities for market growth over the years. Technical advancements, investments of R&D facilities for developments of hybrid insufflators and launch of new products could incur growth opportunities to drive the demand.
Furthers, endoscopy instruments and accessories market is segmented into irrigation systems; endoscope tip protector, tubing, water systems; forceps; injection needle; and others.
North America endoscopy instruments and accessories market dominates in terms of both volume and value compared to other regions. Factors such as approval of medical insurance for some diseases of endoscopic treatments, increased government initiatives to create awareness among the public regarding endoscopic treatment are driving the demand. Presence of ageing population coupled with the increase in gastrointestinal diseases, colon cancer, and arthritis are fuelling the market growth across North America.
Increase in endoscopic treatments owing to minimally invasive surgeries, fast recovery, fewer cuts and scars, rise in disposable investments on procurement of endoscopy devices by hospitals is also boosting the market size.
Key players operating in endoscopy instruments and accessories 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.
Increased investments in R&D facilities, the launch of new products, and joint ventures are the key strategies adopted by key players in the market to sustain in the competitive landscape.
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