Increasing Prevalence of Gastrointestinal Diseases and R&D of New Endoscopy Technologies to Augment Growth of Endoscopes Market

 

Endoscopes Market

Endoscopy is minimal invasive procedure in which endoscope is placed inside body either through body openings (mouth, anus etc.) or by making small incisions on the body. Endoscopes are used in various applications such as GI endoscopy, arthroscopy, hysteroscopy, and ureteroscopy. There are many types of endoscopes depending on the site in the body and type of procedure an endoscopy.

Market Dynamics

Increasing prevalence of gastrointestinal diseases is expected to propel growth of endoscopes market. For instance, according to the study, ‘A study of prevalence and determinants of irritable bowel syndrome in an urban slum community in Mumbai’, published in November 2018, the prevalence of irritable bowel syndrome was 12.27%, of which 56% were males and 44% were females. Moreover, R&D of new endoscopy technologies is also expected to aid in growth of the market. For instance, in June 2020, Xenocor, Inc. received the U.S. patent in connection with the Xenoscope Single-use Laparoscopic System, which provides valuable protection for materials used in the disposable scope that reduce fogging and improve the clarity of the resulting images provided by the system.

Increasing geriatric population is expected to offer lucrative growth opportunities for players in the endoscopes market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034. Moreover, increasing number of emergency surgeries is also expected to aid in growth of the market. For instance, according to Australian Institute of Health and Welfare’s Hospitals at a glance 2017–18 report updated in August 2019, admissions for emergency surgery increased between 2016-2017 and 2017-2018 by 2.9% in public hospitals and by 5.1% in private hospitals in Australia.

Competitive Analysis

Major players operating in the endoscopes market include, Medtronic plc, Olympus Corporation, Hoya Corporation, Fujifilm Holdings Corporation, Xenocor, Inc., enlightenVue, CONMED Corporation, Stryker Corporation, DePuy Synthes, Boston Scientific Corporation, PENTAX Medical, Smith and Nephew, and Cook Medical, Inc.

Major players operating in the endoscopes market are focused on approval and launch of new products to expand their product portfolio. For instance, in March 2020, enlightenVue received the U.S. FDA 510(k) clearance for surgiVue single-use platform of micro endoscopes. Similarly, in December 2019, PENTAX Medical, a developer of diagnostic and therapeutic endoscopy, launched EB19-J10U Ultrasound Video Bronchoscope that offers ultrasound imaging of the airway wall, surrounding lymph nodes, and adjacent structures.


Location: India

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