Global Gastrointestinal Endoscopy Devices Market 2016-2020

Endoscopy Devices Market Size

The global gastrointestinal (GI) endoscopy devices market is anticipated to grow at a steady rate and will post a CAGR of more than 5% during the forecast period. The increasing popularity of minimally invasive procedures will drive the growth prospects for the global gastrointestinal endoscopy devices market for the next four years. Traditional open surgeries involve a large number of complications, which compels the health centers to adopt GI endoscopy devices across the globe. For instance, conventional open surgeries can cause various post-operation complications such as pain, blood clots, fatigue, muscle atrophy, and infections. Some of the factors responsible for the increasing popularity of minimally invasive surgeries include the reduced cost and hospital stay, lower risks of post-operation infections, rapid results, and a faster recovery period.

Endoscopy Devices Market Share by Drivers

Another major factor that drives the adoption of GI endoscopy devices in various medical facilities is the increasing awareness of the benefits of the minimally invasive surgeries. Also, most of the vendors are providing training to the surgeons to perform endoscopy surgeries to increase the penetration of these devices worldwide. Apart from these factors, the minimally invasive surgeries are also undertaken during critical conditions, which cannot be accomplished through conventional open surgeries.

The increasing use of wireless capsule endoscopy will drive the growth prospects for the global gastrointestinal endoscopy devices market until the end of 2020. Capsule endoscopy to diagnose GI disease is used by many physicians worldwide because it is superior to barium X-ray testing and other traditional processes. One of the major factors responsible for propelling the market’s growth is increasing technological advancements in capsule endoscopy. Another major factor that boosts the demand for capsule endoscopy is its ability to produce high-quality images in comparison to conventional diagnostic procedures.

Endoscopy Devices Market: Competitive landscape and key vendors

The global GI endoscopy devices market witnessed high competition due to the presence of Tier 1, Tier 2, and Tier 3 companies. Also, factors such as new product launches and advancements in technology will further intensify the competitive environment in the market. Furthermore, vendors compete against each other based on factors such as pricing, capital support for product or technology upgrades, product differentiation, and distribution partnerships. Moreover, vendors are also focusing on gaining approval for innovative GI endoscopy devices in the market, which is likely to expand their penetration rate in the market.

Key vendors in the endoscopy market 

• Boston Scientific
• Ethicon
• Medtronic
• Karl Storz
• Olympus

Endoscopy equipment market by product type 

• GI endoscopes
• Instruments and accessories
• Services

The instruments and accessories segment accounted for the maximum market share during 2015 and will continue to dominate the market for the next few years. This market segment accounts for a major market share since they generate recurring revenue and need to be frequently replaced.

Global endoscopy devices market based on geography 

• Americas
• APAC
• EMEA

In terms of geography, the Americas accounted for the maximum market share during 2015 and will continue to dominate the market in the forthcoming years. Factors such as the emergence of guidelines from ESGE and UEG is increasing the adoption rate of GI endoscopy devices in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global gastrointestinal endoscopy devices market?
• What are the key market trends impacting the growth of the global gastrointestinal endoscopy devices market?
• What are the challenges to market growth?
• Who are the key vendors in the global gastrointestinal endoscopy devices market?
• What are the market opportunities and threats faced by the vendors in the global gastrointestinal endoscopy devices market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global gastrointestinal endoscopy devices market?

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