Technological Advancement and Rise in the Demand for Endoscopy
In the current era, most of the old age population is prone to health-related issues such as pelvic abscess, gall stones and problems related to their respiratory system. In order to examine these health related problems, endoscopic procedures and video systems are used, which is expected to boost the market growth. Further, the budget spent on healthcare is rising with the rise in the number of private hospitals. The medical experts prefer endoscopic procedures by video systems as it is quick and incurs less medical expenditure which results in higher patient satisfaction. These factors will also account for the growth in the market over the forecast period.
The market for endoscopic video systems is anticipated to record a CAGR of around 6% over the forecast period 2020-2028. An increase in the geriatric population, rise in the cases of obesity & cancer and rise in endoscopic surgeries will account for the rise in the market growth during the forecast period. The market for product type is segmented into standard definition visualization system, high definition visualization system and ultrasound devices. The leading share in the market will be shown by high definition visualization systems segment owing to rise in the demand for HD visualizations by doctors and medical specialists to diagnose the complex healthcare problems as the HD visualization systems allow doctors to view the images in 3D, which will drive the market growth.
Research Nester published a report titled “Endoscopic video systems market– Global Demand Analysis and Opportunity Outlook 2020-2028″ which delivers detailed overview of the endoscopic video systems market in terms of market segmentation by product type, by component type, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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Based on the regional analysis, the market for endoscopic video system is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The endoscopic video system market in North America is anticipated to hold the largest share owing to rise in the respiratory organs & lung disorders and increasing surgeries using endoscopic equipments and video systems. The market in Europe is anticipated to grow at a higher rate on the back of rise in lucrative video systems market during the forecast period.
However, high cost of endoscopic video systems is expected to operate as key restraint towards the growth of endoscopic video systems market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Endoscopic video systems market which includes company profiling of Boston Scientific Corporation (NYSE:BSX), Olympus Corporation (TYO:7733), Fujifilm Holdings Corporation (TYO:4901), Medtronic plc (NYSE:MDT), Hoya Corporation (TYO:7741), Halogic Inc (NASDAQ:HOLX), Coloplast A/S (CPH:COLO-B), Stryker Corporation (NYSE:SYK), Siemens Healthineers AG (ETR:SHL). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the endoscopic video systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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