Endoscopy Market size was valued around USD 26 billion in 2017 and is expected to witness growth of more than 6.0% CAGR from 2018 to 2024. Once considered a highly risky procedure, minimally invasive surgeries have now gained extreme popularity, fueling endoscopy market share. As this type of surgery delivers an excellent outcome by reducing injury to the tissues, the use of endoscopy has increased lately across the medical domain. Considering the escalating acceptance of this non-surgical procedure across myriad hospitals, endoscopy industry giants have been steadfastly working toward advancing existing endoscopic systems. The frequent launch of technologically advanced minimally invasive surgical instruments along with the development of numerous suturing procedures is certain to propel endoscopy market trends over the years ahead.
Endoscopy Market size was valued around USD 26 billion in 2017 and is expected to witness growth of more than 6.0% CAGR from 2018 to 2024.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. B.Braun Melsungen AG
2. Boston Scientific
3. Conmed Corporation
4. Cook medical LLC
5. Ethicon US, LLC
6. Fujifilm Corporation
7. Hoya Corporation
10. Olympus Corporation
Speaking along the same line, this cooperation program will also emerge to be quite beneficial for the Thai medical facility, considering the expertise that Sano Hospital possesses with regards to endoscopy techniques. In addition, with the help Sano’s latest innovation, Samitivej Hospital also plans to encourage its Liver and Digestive Institute better serve the patients suffering from alcohol induced problems, colorectal cancers, fatty liver diseases, gallstones, and infections. The Samitivej-Sano agreement is an apt instance depicting the collaborative approach of numerous healthcare service providers and how they will serve to enhance the future prospects of endoscopy industry.
Arthroscopy is another application arena that has been gaining renewed prominence in the endoscopy market of late. The growing concern among the specialists about the disadvantages of a traditional approach to diagnosing femoroacetabular impingement, labral tears, and other issues related to hip joints has been encouraging them to innovate next-gen instruments. Recognizing the significance of educating research scholars about the effective treatment of hip impingements, many U.S.-based medical centers and universities have included hip arthroscopy in their syllabus. This approach of medical education centers will help them treat rapidly increasing number of cases of hip impingements effectively, owing to the ample availability of trained professionals. The use of endoscopy in arthroscopy applications leads to the minimization of post-operative pain and other associated comorbidities. The post-treatment benefits of arthroscopy treatment in terms of recovery and comfort are certain to fuel U.S. endoscopy industry size.
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The approach of leading endoscopy market giants and well-known research institutes toward product development and innovations will prove to be one of the revenue generating aspects for this vertical. As the requirement of products for diagnosing various kinds of terminal diseases increases, the deployment of minimally invasive surgery equipment will also observe an upsurge, generating lucrative opportunities for the players in endoscopy industry. In addition, many hospitals specializing in endoscopy have been lately organizing training programs to educate doctors and nurses about newly invented technologies related to the field. With the rise in the popularity of minimally invasive surgeries and the increasing number of R&D programs, endoscopy market will register a CAGR of 6% over 2018-2024.