The Business Research Company’s Endoscopy Devices And Equipment Global Market Report 2021 – COVID-19 Impact And Recovery
LONDON, GREATER LONDON , UK, September 6, 2021 /EINPresswire.com/ — A rise in incidence and prevalence rates of gastrointestinal (GI) diseases is driving the global endoscopy devices market. The increasing incidence of gastrointestinal diseases such as colorectal cancer, gastroesophageal reflux disease, ulcerative colitis (UC), inflammatory bowel disease (IBD), and Crohn’s disease (CD) are supporting the endoscopy devices and equipment market. Endoscopy devices are used in performing non-invasive or minimally invasive surgical procedures to treat life-threatening diseases. The Asian countries have the highest prevalence rates of gastrointestinal diseases such as cancer. In 2018, according to World Cancer Research Fund, stomach cancer is the fourth commonly occurring cancer in men and the seventh commonly occurring cancer in women. Globally 1,033,701 new cases diagnosed as stomach cancer. South Korea had the highest rate of stomach cancer in 2018, followed by Mongolia. In Korea, with every 39.6 persons per 100,000 suffering from cancer, Mongolia with 33.1 per 100,000 and Japan with 27.5 per 100,000 ranked as 1, 2, and 3 respectively. Due to the rising prevalence of GI diseases, developing countries are experiencing high demand for minimally invasive surgical procedures, increasing the demand in the gastrointestinal endoscopy devices market.
The global endoscopy devices and equipment market is expected to grow from $4.92 billion in 2020 to $5.49 billion in 2021 at a compound annual growth rate (CAGR) of 11.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $7.80 billion in 2025 at a CAGR of 9.2%.
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Companies in the endoscopy devices and equipment market are increasingly developing endoscopy robotic systems as they are more flexible, effective than the conventional endoscopy devices. This leads to particular growth in the robotic endoscopy devices market. These robotic endoscopy devices help in eliminating difficulties in therapeutic endoscopy, expanding endoscopy’s vision and reach, reducing labor intensity, improve communication, reach, vision, control, and the ability to perform an endoscopy. These devices are used in gastrointestinal surgeries, urology/gynecology surgeries, ENT surgeries, cardiovascular surgeries, neuro/spinal surgeries, laparoscopy surgeries and arthroscopy surgical applications. In 2018, Medineering announced the use of its robotic solution-Medineering Robotic Endoscopy. Furthermore, companies such as Johns Hopkins, Auris Health, a subsidiary of Johnson & Johnson, and Intuitive Surgical, are investing and developing advanced endoscopy devices through flexible robotic endoscopy.
Major players covered in the global endoscopy market are Olympus Corporation, Fujifilm, Boston Scientific Corporation, Conmed Corporation, and Stryker Corporation.
Endoscopy Devices And Equipment Global Market Report 2021 – By Product (Endoscope, Endoscopy Operative Devices , Endoscopy Visualization Systems), By Application (Bronchoscopy, Arthroscopy, Laparoscopy, Urology Endoscopy, Neuroendoscopy, Gastrointestinal Endoscopy, Obstetrics/Gynecology Endoscopy, ENT Endoscopy), By End-User (Hospitals, Clinics), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides endoscopy devices and equipment market overview, endoscopy devices and equipment market forecast, endoscopy devices and equipment market size and growth for the whole market, endoscopy devices and equipment market segments, endoscopy devices and equipment market analysis and geographies, endoscopy devices and equipment market trends, endoscopy devices and equipment market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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