Asia Pacific Endoscopy Devices Market is expanding rapidly with industry leader Karl Storz Endoscopy America Inc. launching TELE PACK with compact endoscopy system

 

Endoscopy is the process of inspecting the inside of the digestive tract, specifically the stomach and the intestines. It has many advantages over other surgical procedures, as the entire procedure can be done from the comfort of a doctor's office without requiring any incisions, and there are no interruptions to diet or activity. In the last decade, Endoscopy Devices had become one of the most popular medical procedures performed by doctors. Gastrointestinal diseases such as constipation, peptic ulcer disease, gastroesophageal reflux disease (GERD), and hemorrhoids remain prevalent in Asia Pacific. Endoscopy devices can provide a more accurate and detailed diagnosis of the disease, enabling doctors to provide adequate treatment. As per, Abbot Laboratories’ Gut Health Survey 2018, around 22% of the adult Indian population was suffering from constipation with around 13% complaining of severe constipation and 6% of the population having constipation associated with certain comorbidities. Severe constipation requires appropriate medical treatment, for which endoscopy devices can be used. Thus, such a high number of cases of gastrointestinal diseases can stimulate growth of the Asia Pacific endoscopy devices market.

A common endoscopy tool is a digital endoscope. It is an instrument that looks like a slender tube with a thin metal wire along the bottom edge. When doctors want to see inside the digestive tract, they expose this wire through a small cut in the patient's abdomen. The endoscope helps the doctor to locate the exact area that requires evaluation. The geriatric population is growing rapidly in Asian countries such as India, China, and Japan. As per the United Nations Population Fund (UNFPA), by 2050, the geriatric population is expected to reach 1.3 billion in Asia. Elderly people are more likely to face gastrointestinal diseases due to low physical activities. Hence, these factors can augment growth of the Asia Pacific endoscopy devices market in the near future.

Recently, in March 2020, Karl Storz Endoscopy America Inc. introduced TELE PACK with compact endoscopy system. 

However, there has been a negative impact of U.S. medical device tax with rigorous FDA regulatory process. The U.S. government implements around 2.3% excise tax on medical devices. Such factors can inhibit growth of the Asia Pacific endoscopy devices market. Besides, the cost of endoscopic devices is significantly high, which could impede the market growth. That being said, the research and development activities continue in the field of medical devices, which could provide key growth opportunities for market players.