(PharmaNewsWire.Com, August 17, 2021 ) EMEA NA Japan And China Endoscopy Devices Market size in 2020 was estimated at $21.3 billion, growing at a CAGR of 5.1% during the forecast period 2021-2026. Endoscopy devices are minimally invasive endoscopic operative devices which are used in endoscopic surgeries. Endoscopes are illuminated optical, typically slender and tubular instrument that is inserted into the body and it is used to examine digestive tract of the body.
Endoscopic devices consist of endoscopy cameras, suction pumps that records images of the gastrointestinal tract. Increasing prevalence of cancer and gastrointestinal disorders coupled with rising number of geriatric population is major factor driving the growth of the market. Moreover, growing demand for Endoscopy Devices for easy and fast detection of diseases further enhance the overall market demand for EMEA, NA, Japan, And China Endoscopy Devices during the forecast period.
EMEA, NA, Japan, And China Endoscopy Devices Market Segment Analysis- By Type of Devices
Based on the type of devices, EMEA, NA, Japan, And China Endoscopy Devices Market is segmented into Endoscope, Endoscopic Operative Device, Visualization Equipment. The Visualization Equipment segment is estimated to dominate the market during the period 2021-2026. This can be attributed effective usage and safety in the treatment of gastrointestinal disorders.
Furthermore, it has excellent HD and 4K image quality. The Endoscopic Operative Device, segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 5.9% during the period 2021-2026. This is mainly owing to minimally invasive surgical interventions and diagnosis with faster recovery.
EMEA, NA, Japan, And China Endoscopy Devices Market Segment Analysis- By Application
Based on the end user, EMEA, NA, Japan, And China Endoscopy Devices Market is segmented into Gastroenterology, Pulmonology, Orthopedic Surgery, Gynecology, Cardiology, ENT Surgery, others. In 2020, Gynecology is estimated to hold major share in the market. This is mainly due to gynecologic laparoscopic procedure that is widely performed procedure to obtain clear picture of the pelvic region.
Moreover, rising number of gynecologic cancer leads to rise in demand for endoscopy devices also contributing to the dominance of the segment. Also, Gastroenterology is projected to grow with a CAGR of 5.6% over the period 2021-2026. This is owing to rising adoption of endoscopy for the treatment and diagnosis for gastrointestinal diseases.
EMEA, NA, Japan, And China Endoscopy Devices Market Segment Analysis- By Geography
North America dominated the Endoscopy device market share accounting for 41.9% of the market in 2020. This is mainly owing to increasing prevalence of chronic diseases such as heart diseases, diabetes, obesity and others and colorectal cancer among geriatric population which leads to rise in demand for endoscopy visualization system in this region.
According to, American Cancer Society, colon cancer is the leading cause of death in U.S. in 2019 around 101,420 people died owing to this cancer. However, the Europe region is projected to be the fastest-growing over the period 2021-2026, owing to rising expenditure on healthcare coupled with rising advancement in endoscopy devices.
EMEA, NA, Japan, And China Endoscopy Devices Market Drivers
Increasing Prevalence of Cancer, Gastrointestinal Disorder
Increasing prevalence of cancer such as colon and rectum cancer and gastrointestinal disorder across the globe is driving the growth of Endoscopy devices market. According to, Global Cancer Observatory (GLOBOCAN), in 2018, around 1,849,518 people are suffering from colorectal cancers across the globe. The growing incidence of colon cancer leads to rise in demand for these devices. Moreover, increasing number of geriatric population is also set to increase the market growth. According to, the World Population Prospects 2017, the number of aged population age above 60 or over is expected to double 2.1 million by 2050.
Rising Demand For Minimally Invasive Procedures
Increasing demand for minimally invasive procedures is also driving the market. Minimally invasive surgeries are safe, effective and less complicated than open surgeries. Also, minimally invasive surgeries include fast recovery time, less blood loss & chances of infection and fewer marks after surgery on the body and is also set to the growth of Endoscopy devices Market.
EMEA, NA, Japan, And China Endoscopy Devices Market Challenges
High cost of endoscopy procedure and lack of skilled professional is challenging the market. Along with this infection caused by some of endoscopes are also further challenging the growth of the market.
Covid-19 Impact
Moreover, the outbreak of COVID-19 around the world has impacted all industries including healthcare industry. Covid- 19 affects the EMEA, NA, Japan, And China Endoscopy Devices market including shortage of laboratory based molecular assay owing to less supply of POC test kits. Also owing to increase in number of COVID-19, the usage of POC test increases that diagnose the COVID-19. These affects EMEA, NA, Japan, And China Endoscopy Devices market by cancellation of scheduled visit for primary care at hospitals and reflecting patients concern about infection.
EMEA, NA, Japan, And China Endoscopy Devices Market Industry Outlook
Product launches, Merger & Acquisitions, Joint Ventures and R&D activities are key strategies adopted by players in the EMEA, NA, Japan, And China Endoscopy Devices Market. EMEA, NA, Japan, And China Endoscopy Devices top 10 companies are Johnson & Johnson, Conmed Corporation, Boston Scientific Corporation, Richard Wolf GmbH, Smith & Nephew, Cogentix Medical, Fujifilm Holdings Corporation, Olympus Corporation, Thermofisher Scientific and Medtronic PLC.
Developments:
In March 2019, Olympus Corporation launched Small Intestine Endoscopy System “PowerSpiral” in Europe.
Key Takeaways
In 2020, North America dominated the EMEA, NA, Japan, And China Endoscopy Devices Market owing to rising incidence of chronic diseases.
Increasing innovation and development in Endoscopy Devices across the globe is driving the market growth of EMEA, NA, Japan, And China Endoscopy Devices.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the EMEA, NA, Japan, And China Endoscopy Devices Market report.
High cost of endoscopy procedure and lack of skilled professional are challenging the growth of the market.
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