The endoscopy equipment market projected to grow at a CAGR of 6.4%

LONDON, Dec. 19, 2017 /PRNewswire/ -- The endoscopy equipment market projected to grow at a CAGR of 6.4%.
The global endoscopy equipment market is projected to reach USD 34.82 billion by 2022 from an estimated USD 25.58 billion in 2017, at a CAGR of 6.4% during the forecast period. The key factors driving the growth of this market include favorable government initiatives, rising number of hospitals and growing hospital investments in endoscopy facilities, technological advancements, and rising prevalence of diseases that require endoscopy. However, the high cost of endoscopy procedures & equipment and limited reimbursement in developing countries may restrict the growth of this market to a certain extent.

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By application, the GI endoscopy segment is expected to grow at the highest CAGR during the forecast period (2017–2022).
Based on application, the market is segmented into laparoscopy, gastrointestinal endoscopy, arthroscopy, obstetrics/gynecology endoscopy, urology, bronchoscopy, mediastinoscopy, otoscopy, laryngoscopy, and other applications (endoscopies for facelifts, forehead lifts, abdominoplasty procedures, and breast augmentation).

The GI endoscopy applications segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the rising geriatric population, improving healthcare infrastructure in developing countries, and the increasing number of colonoscopy procedures performed in developed countries.

Asia Pacific (APAC) to witness the highest growth during the forecast period (2017-2022)
Asia Pacific is expected to witness the highest growth during 2017 to 2022. The highest growth rate of the APAC market is attributed to German-Asian partnerships, the favorable prospects for the growth of the endoscopy equipment market, venture capital investments and the penetration of key players in China, and the increasing number of endoscopic surgeries & improving endoscopy infrastructure in India.

Break of primary participants was as mentioned below:
• By Company Type – Tier 1–50%, Tier 2–30% and Tier 3–20%
• By Designation – C-level–30%, Director Level–48%, Others–22%
• By Region – North America–48%, Europe–20%, Asia Pacific–25%, Row–7%

The key players in the global endoscopy equipment market are Olympus (Japan), KARL STORZ (Germany), Stryker (US), Boston Scientific (US), Ethicon (US), Fujifilm (Japan), Medtronic (Ireland), Hoya (Japan), CONMED (US), Richard Wolf GmbH (Germany), Smith & Nephew (UK), Cook Medical (US), Cogentix Medical (US), and B. Braun (Germany).

Research Coverage:
The report analyzes the endoscopy equipment market and aims at estimating the market size and future growth potential of this market based on various segments such as product, application, end user, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.

Reasons to Buy the Report
The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater share. Firms purchasing the report could use one or any combination of the below mentioned five strategies.

This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the endoscopy equipment market. The report analyzes the market based on product, application, and end user
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the endoscopy equipment market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various endoscopy equipment across regions
• Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the endoscopy equipment market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the endoscopy equipment market

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