Endoscopy devices are designed to have a deep look into the human body and are used in the procedure called as endoscopy. There are many different types of gastrointestinal endoscope devices which are used depending on the site in the body and the type of procedure. Endoscopy devices consist of a camera or the light source at the tip that helps the medical professionals to analysis the internal organs.
According to the report, the global gastrointestinal endoscopic devices market accounted for around USD 5.6 billion in 2015 and is expected to reach approximately USD 8.5 billion by 2021, growing at a CAGR of about 7.0% during the forecast period from 2016 to 2021. The gastrointestinal endoscopy devices market is mainly driven by increasing number of patients with colon & rectum cancer coupled along with the growing population with long-term medical conditions such as overweight, GI disorders, & tobacco consumption. Moreover, lack of proper exercise, changing lifestyle, and constant shift of youngsters towards junk food has given rise to several gastrointestinal (GI) disorders. However, chances of complications during endoscopy and increasing health awareness regarding infection caused by endoscopes are expected to hamper the market growth in the coming years. Nonetheless, technological advancement in the gastrointestinal endoscopic devices is expected to open new growth opportunities in the years to come. The growing geriatric population is yet another reason that will impel growth in the global gastrointestinal endoscopic devices market, making it imperative for players to launch high-end endoscopic devices.
Based on product, the gastrointestinal endoscopic devices market can be divided into hemostasis devices, biopsy devices, endoscopic retrograde cholangiopancreatography devices (ERCP), capsule endoscopes, GI video scopes, and others (esophageal dilation balloons, stents, polypectomy snares, and anti-reflux devices). GI video scopes accounted for the largest share of gastrointestinal endoscopic devices market in 2015. This growth is mainly due to increasing predominance of gastrointestinal disorders such as Crohn’s diseases, ulcer, & bowel syndrome. Moreover, capsule endoscopes are also expected to witness steady growth in the coming years.
Browse the full “Gastrointestinal Endoscopic Devices Market (Hemostasis Devices, Biopsy Devices, Endoscopic Retrograde Cholangiopancreatography Devices (ERCP), Capsule Endoscopes, GI Videoscopes, and Others): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021“ Report with TOC at https://www.zionmarketresearch.com/report/gastrointestinal-endoscopic-devices-market
North America dominated the gastrointestinal endoscopic devices market in 2015. The U.S was the leading market for gastrointestinal endoscopic devices in this region. North America held more than 30% share of global gastrointestinal endoscopic devices market. In terms of revenue, North America was followed by Europe. However, poor reimbursement policies for imaging procedures, and drop in government support in several nations of Europe and in the U.S. may affect the market growth. Asia-Pacific is expected to witness significant growth in the years to come due to increasing population coupled with health awareness.
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Major market players in this industry are Covidien Ltd., Stryker Corporation, Boston Scientific Corporation, Johnson & Johnson Ltd., Fujinon Ltd and Conmed Corporation among others. Some of the key players in the pharmaceutical sector are aiming at research & development activities in order to introduce potential breakthroughs for the development of improved and more effective gastrointestinal endoscopic devices.