Increase in Awareness for Healthcare Sector is Driving the Adoption of the Endoscopy Devices in the Coming Years

“The global endoscopy devices market is valued USD 25.8 Billion in 2017 and is projected is to exhibit 6.7% CAGR during the forecast period. The market is projected to be around USD 43.3 Billion by 2026”.

Ascend in rates of growth diseases such as cancer, gastrointestinal ailments, and other endless infections around the world are driving the demand for better endoscopy devices during the forecast period. Also, growing geriatric population, obesity, and changes in demographics & lifestyle are the main factors, which are boosting the growth of the better healthcare devices such as endoscopy devices market. Also, technological advancement in diagnosis, visualization, & surgical endoscopic treatment paired with rise in awareness of endoscopic technologies & its benefits among the patients & medical professionals stimulate the need for endoscopic devices, thus driving the industry growth.

Though, many factors are anticipated to confine the market development. The influence of the drivers is projected to be higher than the restraints. Furthermore, a surge in the effects of drivers and restraints is expected to disclose new market avenues for key players manufacturing endoscopy devices, particularly capsule and flexible endoscopy systems.

Hospital segment under end-user are projected to hold high market share in 2026 owing to increase in strategic partnership among hospitals and endoscopy manufactures and also, increase in the numbers of hospitals are the other crucial factor triggering the growth of the endoscopy market during the forthcoming years. Apart from above, to develop healthcare sectors government are also supporting hospitals to equipped with better devices such as endoscopy devices to carry out advance diagnostic.

The global players operating in endoscopy devices market are Medtronic, Cook Medical, Cogentix Medical, Smith & Nephew, CONMED, Siemens Healthcare, Richard Wolf GmbH, Advanced Sterilization Products Services Inc., Smith & Nephew Plc, B. Braun, Olympus, KARL STORZ, Minntech Corporation, Boston Scientific, Holdings Corporation, Hoya, US Endoscopy Group, Fujifilm Cook Medical,, Stryker, Arthrex Inc., and Ethicon.

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