According to a recent report by Emergen Research, the global laparoscopy and endoscopy devices market is expected to reach USD 28.30 billion by 2027. The market for laparoscopy and endoscopic equipment is experiencing strong demand, which is being ascribed to the increase in chronic diseases like cancer. The societal and economic development in the US and around the world are severely impacted by cancer, which also considerably adds to the financial burden of disease. In 2020, it is predicted that 1,806,590 new cancer cases will be diagnosed in the US, and 606,520 people will pass away from the disease. The second most common cancer and GI endoscopy-related cause of death is gastrointestinal (GI) cancer.
The global market for endoscopy products is expanding as a result of the increased frequency of chronic diseases, the development of endoscopy technology, and the expansion of funding and insurance coverage for endoscopic screening and treatment. The world’s rising senior population is also having a substantial impact on the market for endoscopic devices. As individuals age, their immunity declines, making them more vulnerable to diseases including cancer, gastrointestinal problems, orthopaedic problems, and ophthalmic issues. This also makes it more difficult to diagnose and treat them. The preference for least invasive and global endoscopic procedures is the main factor driving the market for endoscopy systems. A substantial opportunity for corporate expansion exists as a result of minimally invasive surgery’s rising popularity.
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Competition in the Laparoscopy and Endoscopy Devices Market
The Laparoscopy and Endoscopy Devices Market report contains information on leading vendors’ product launches, sustainability, and prospects, such as: The report also discusses the key players involved in the market such as Stryker Corporation, Fujifilm, Smith & Nephew PLC, Cook Medical, Boston Scientific, B. Braun Melsungen, Olympus, Medtronic, Karl Storz, and Hoya Corporation, among others.
Some Key Highlights From Report :
In October 2019, Medtronic PLC made an announcement about the introduction of GI Genius™ intelligent endoscopy module, which deploys AI to identify colorectal polyps and offer physicians with a strong tool in combatting colorectal cancer.
APAC will experience the quickest growth
Due to the greater concentration of developing nations in this region, including countries like China and India, the Asia Pacific region has the fastest growing market. These nations aid in the expansion of the healthcare sector. Additionally, the rising number of people in industrialised nations who suffer from gastrointestinal problems and cancer will immediately increase the need for novel forms of detection and treatment, which will in turn spur economic expansion.
Gynecological endoscopy is likely to witness a significant growth rate in the forecast period and finds usage in diagnosing common female conditions and pathologies, including certain infertility problems, endometrial polyps, and small vaginal hemorrhages, among others.
Surging demand for keyhole surgery is a significant factor in driving the laparoscopy devices market growth attributed to its benefits comprising shorter stay at the hospital, quicker recovery time, reduced pain & bleeding post-surgery, and less scarring.
The laparoscopy and endoscopy devices market in the Asia Pacific region is estimated to grow at the fastest rate in the forecast period due to considerable economic growth, developing healthcare infrastructure, rising incidence of cancer, and a rising popularity of advanced diagnostic procedures.\
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The Laparoscopy and Endoscopy Devices Market research report is a comprehensive and vital document encompassing business strategies, qualitative and quantitative analysis, and emerging trends of the global Laparoscopy and Endoscopy Devices Market . The report offers in-depth research and assessment of the key elements of the global Laparoscopy and Endoscopy Devices Market . The research analysts have formulated this report through thorough primary and secondary research with a detailed analysis of the drivers, restraints, challenges, trends, and opportunities to provide a panoramic view of the Laparoscopy and Endoscopy Devices Market .
Emergen Research has segmented the global laparoscopy and endoscopy devices market on the basis of device type, application, end-users, and region:
Device Type Outlook (Revenue, USD Billion; 2017-2027)
- Laparoscopy Device
- Endoscopy Device
Application Outlook (Revenue, USD Billion; 2017-2027)
- Gastrointestinal Surgery
- Cardiac Surgery
- Gynecology Surgery
- Orthopedic Surgery
- Urologic Surgery
- Neurological Surgery
- Others
End Users Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
Regional Outlook: (Revenue, USD Billion; 2018-2028)
North America (U.S.) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
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Why should you buy this Laparoscopy and Endoscopy Devices Market report?
- The study paper dissects the total market potential of major regions with strengths, opportunity and challenge, constraints, and dangers.
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- It examines the recent developments, such as advancements, business strategies, new product releases, and acquisitions.
- It purposefully profiles the major market players and thoroughly investigates their advancement strategies.
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