The global flexible endoscopes market was valued at USD 5.4 billion in 2021 and it is anticipated to grow up to USD 11.0 billion by 2031, at a CAGR of 7.4% during the forecast period.
New York, According to a new market research report published by Global Insight Services “Flexible Endoscopes Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Market Trends and Drivers
The innovation of medical technology continues to shape the future of healthcare. Devices such as fiberscopes and video endoscopes have undergone constant advancements over recent years. Nanotech and other breakthrough technologies are also being leveraged to minimize inflammation and infection risk, and subsequently improve the success rate of procedures. The rapid tech development is creating a positive outlook for the flexible endoscopes industry worldwide. Industry players are also emphasizing research and development activities to develop cutting-edge medical technologies and commercialize advanced flexible endoscope components. Gastrointestinal (GI) disorders are among the debilitating health conditions, with 5.9% of the adults diagnosed with ulcers in 2018, according to the Centers for Disease Control and Prevention. Since endoscopy is considered a critical diagnostic tool for digestive disorders, the growing GI disease burden will provide lucrative opportunities for flexible endoscopes market expansion over the forecast period.
Market Restraints and Challenges
One of the key restraints for the growth of the flexible endoscopes market is the lack of skilled labor for operating these devices. There is a high level of training required to use flexible endoscopes, which can limit their adoption in some settings. Additionally, flexible endoscopes are more expensive than other types of endoscopes, which can also limit their use in some settings.
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Global Flexible Endoscopes Market Segmentation
By Product
- Fiberscope
- Video endoscope
By Application
- GI Endoscopy
- Pulmonary Endoscopy
- ENT Endoscopy
- Urology
- Others
Major Players in the Global Flexible Endoscopes Market
The key players in the flexible endoscopes market are Becton, Dickinson and Company, Boston Scientific Corporation, Endomed Systems, Fujifilm Corporation, Hoya Corporation (Pentax Medical), Karl Storz, Laborie Medical Technologies, Olympus Corporation, Richard Wolf GmbH, among others.
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Reasons to buy Flexible Endoscopes Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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