Description
The global endoscopy equipment market was valued at $24.7 bn in 2016 and is forecast to grow at a modest 9.8% CAGR between 2017 and 2024, culminating in 2024 global sales of $51.9 bn.
There are many types of endoscopes and accessories used depending on site of the body or type of procedures. Endoscopes play a key role in the success rate of operational procedures and improve outcome. It helps in minimal scarring; reduced hospital stays and less chance of infection. Few of the endoscopes covered in our report includes Biopsy Forceps, Trocar sleeves, Tissue Scissors and Cutters, Burs, Cleaning brushes, Tube sets (Inflow and Outflow), Tissue Staplers, Ligation Devices, Suturing systems.
We have further segmented the endoscope product categories into flexible, rigid, capsule and robot type. Visualization system now comprises a bigger market with further development of two dimension and three-dimensional system. We are capturing some of the advanced endoscopic visualization system (VASOVISION) which are improving the ergonomics in the operating room. This report also captures various types of accessories as video processors, video converters, forceps, cleaning brushes etc.
Moreover, as per the Agency for Healthcare Research and Quality (AHRQ) data, upper gastrointestinal endoscopy procedure was one of the most common procedure with every 39 people for 10,000 population in the U.S. Hospitals. The endoscopic procedures are widely used for the detection of stomach cancer. The American Cancer Society estimates that nearly 28,000 stomach cancer cases will be diagnosed in 2017, with 17,750 cases in men and 10,250 cases in women. In the UK, as per the 2014 Cancer Research estimates, each year nearly 6,682 new cases are detected, and the average survival rate is 15%.
Pricing Analysis
“Optimal Price Point (OPP) for Endoscope Equipment”
Estimated Average endoscope equipment cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
The prices for the endoscope equipment vary in different regions due to the macroeconomic factors such as political and regulatory policy, access to healthcare facilities, reimbursement factors, technological advancements and access to key resources. The use of OPP in a dynamic and real-time scenario by domestic and multinational OEM manufacturers can help to identify new opportunities and further drive the market expansion over the forecast period.
Applications
Endoscopic equipment is used in obstetrics/gynecology, arthroscopy, laparoscopy, mediastinoscopy, cystoscopy, bronchoscopy, laryngoscopy and otoscopy. Endoscopy is a nonsurgical procedure used to examine a person’s digestive tract. Using an endoscope, a flexible tube with a light and camera attached to it, your doctor can view pictures of your digestive tract on a color TV monitor. It can be used as upper endoscopy to examine esophagus, stomach, and upper part of the small intestine and can be inserted into large intestine (colon) through the rectum to examine this area of the intestine. A special form of endoscopy called endoscopic retrograde cholangiopancreatography (ERCP) allows pictures of the pancreas, gallbladder, and related structures to be taken. ERCP is also used for stent placement and biopsies.
Endoscopic ultrasound (EUS) combines upper endoscopy and ultrasound examination to obtain images and information about various parts of the digestive tract.
End-Use Insights
The segmentation by end-use includes hospitals, ambulatory surgery centers and clinics. By and large, hospitals dominate the market due to their financial capabilities, high patient volume and subsidies received from various sectors to promote healthcare.
However, Ambulatory Surgery Centers and Clinics are also started using this equipment citing its benefit and carrying out some of the procedures which were not possible earlier.
The market is moving toward consolidation due to increasing competition and high rate of innovation. The technological advancements are driving the development of portable, miniature devices with affordability.
Regional Segmentation
The key regions analyzed in the study include North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. In 2016, U.S. held the largest share, owing to the presence of well-developed infrastructure, technological advancements, favorable policies for the preventive and routine screening of various diseases.
By 2024, Asia Pacific is expected to be the fastest growing region due to increasing medical tourism in India, Singapore, Thailand and others. Some of the other factors include German-Asian partnership, government support in research and VC investment in China. The high unmet needs across the emerging nations are forcing the companies to scale up operations and consolidate market share for long-term returns.
Merger and Acquisition Insight
Mergers and Acquisition is one of the most notable trends in the industry. The increasing competition, decline in Medicare and payer budgets, and the need to introduce technologically advanced products each year are some of the key issues driving the mergers and acquisition activity.
Few notable M&A activities include the following,
- Olympus Corp. of the Americas will acquire Image Stream Medical, which develops video equipment and system integration used in operating rooms, in a deal valued at $87 million.
Top Players & Company Share
The key market participants include Olympus Corporation, Ethicon (Johnson & Johnson), Karl Storz GmbH, Boston Scientific Inc., Covidien Plc, Stryker Corporation, Hoya Corporation (Pentax Medical System), Cook Medical Incorporated, Conmed Corporation, Fujifilm Holding Corporation, Smith and Nephew Inc., and Richard Wolf GmbH.
Endoscopy Equipment Market by Product (Revenue, USD Million, 2014- 2024)
- Endoscopes (Flexible, Rigid, Capsule, Robot)
- Visualization Systems
- Other Endoscopy Equipment
- Accessories
Endoscopy Equipment Market by Application (Revenue, Million, 2014 – 2024)
- Arthroscopy
- GI Segment
- Female Reproductive Tract
- Respiratory Tract
- Urinary Tract
- Ear
- Laparoscopy
- Neurology
Endoscopy Equipment Market by End-Use (Revenue, USD Million, 2014 – 2024)
- Hospitals
- Ambulatory Surgery Center
- Clinics
Endoscopy Equipment Market Regional Outlook (Revenue, USD Million, 20124- 2024)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Columbia
- Middle East and Africa
- South Africa
- Saudi Arabia
