Endoscopy is a technology that has changed the view point of detecting diseases and the way surgeries were performed previously, with least invasion and are gaining attention across the globe. It includes procedures which are cost-effective resulting in less complications post surgery and minimal scars in the body. These surgeries reduce the length of stay at the hospital, and in combination acts as some major drivers for the endoscopic devices market growth. The devices include endoscopes, visualization systems and operative devices which gives direct insight observation of the organs unlike other medical imaging devices. Aged population worldwide are more prone to diseases such as gastrointestinal problems, gastro-esophageal reflux disorder, ophthalmic diseases, orthopedic diseases and cancer coupled with the increase in the number of such cases are expected to help in the market growth for endoscopic devices. Operative devices are expected to be the fastest growing segment for this market. It includes energy systems, irrigation/suction devices, operative manual instruments, access devices, snares, insufflations devices and wound protectors. Further the operative manual devices can be segmented as forceps, graspers, suture passers and scissors. Visualization systems segment hold the lion share of the endoscopic market. It is responsible for imaging and includes stand definition and high definition systems which are further segmented in two dimensional and three dimensional systems. Conventionally there were only two types of endoscopes in the market rigid and flexible, with the increase in demand for innovative technologies newer versions of endoscopes are gaining attention such as robot assisted endoscopes and capsule endoscopes. The global endoscopic devices market can be used in arthroscopy, laparoscopy, cystoscopy, bronchoscopy, mediastinoscopy, obstetrics/gynecology, laryngoscopy and otoscopy. However, endoscopic devices are costly and little reimbursement rates from the government in some countries to the hospitals coupled with limited number of trained professionals worldwide can hinder the growth rate of endoscopic devices market.
Asia Pacific is the fastest growing region for the endoscopic devices market owing to the increase in demand for least invasive surgeries. North America dominates the market share for endoscopic devices followed by Europe.
The key players in the global endoscopic devices market include Olympus Corporation, Ethicon (Johnson & Johnson), Karl Storz GmbH, Boston Scientific, Inc., Covidien Plc, Stryker Corporation, Hoya Corporation (Pentax Medical System), Cook Medical Incorporated, Conmed Corporation, Fujifilm Holding Corporation, Smith and Nephew, Inc., and Richard Wolf GmbH.
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