Endoscopy Devices Market expected to Witness a Sustainable Growth over 2018-2025
An endoscopy is a procedure that allows physicians or surgeons to look interior parts of the organ. To perform endoscopy a specialized instrument is used named as endoscope. Various types of endoscopes and adoption of endoscope depends upon the affected body organ. The global endoscopy devices market was 34.1 billion USD in 2018 and will reach 51.41 billion USD by 2025 with a CAGR of 6.04% during the period.
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Growth by Region
North America dominated the market due to rise in prevalence of chronic diseases and high adoption of advance technological endoscopy devices. Asia Pacific will grow at higher rate due to growing unmet medical needs for diagnosis of life threatening diseases.
Drivers vs Constraints
Growing preference for minimally invasive surgeries is the key factor for the growth of the market. Rising prevalence of chronic diseases, advancing endoscopy techniques and increasing funding for treatment with endoscopic techniques are also boosting the market growth. However, infections and complications caused by endoscopy devices will hamper the market growth.
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Industry Trends and Updates
Crospon, an endoscopic diagnostics company, announced it has received US Food and Drug Administration clearance for its Endoflip System with Flip Topography Module.
Pentax Medical acquired PlasmaBiotics SAS, an endoscope drying and storage device manufacturer.
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