Endoscopy Devices Market
Endoscopy is a non-invasive procedure in which doctors introduce very thin fiber-optic tubes (called ‘endoscopes’) inside a...
Endoscopy Devices Market
Endoscopy is a non-invasive procedure in which doctors introduce very thin fiber-optic tubes (called ‘endoscopes’) inside a patient’s body to detect abnormalities in the same. These endoscopes can be made from a variety of materials and consist of a video device attached to one end, using which images are exhibited on a video screen or monitor, which are then interpreted by the doctor. The market for endoscopy devices benefits from the vast applicability of endoscopy in the diagnosis of numerous infections and diseases, as well as in the supervision of on-going treatments. It is an important integral part of many diagnostic and treatment procedures, like GI tract examination, gynaecological examination, etc.
The market for endoscopy focuses on development of minimally invasive tools for surgeons. A variety of endoscopy devices are available, depending upon the sophistication of the medical facility performing the treatment and the purpose for which it is being used. Endoscopic procedures are used in a wide range of applications including arthroscopy, bronchoscopy, laryngoscopy, colonoscopy, cystoscopy, endoscopic plastic surgery, gastrointestinal endoscopy, laparoscopy, and minimally invasive cardiovascular procedures. Of these, laparoscopy forms the largest application area, while urology, arthroscopy, hysteroscopy, and ENT are other significant application specialties.
The endoscopy devices market can be segmented into the following- flexible endoscopes, rigid endoscopes, video endoscopes, endoscopic visualization equipment (cameras, monitors), endoscope accessories (suction traps, fluid flushing devices, tissue sampling devices). Some examples of these devices include enteral feeding devices, videoscopes, hemostatic devices, endoscopic retrograde cholangiopancreatography devices, biopsy forceps, stents, esophageal dilation devices, small bowel capsule endoscopes, virtual colonoscopy systems, polypectomy snares, and retrieval devices.
The market for these devices is growing, owing to the increase in ageing and chronically ill population, and progress in endoscopic technologies. Also, not to ignore, development in Minimally Invasive Surgery (MIS) techniques is another important factor driving growth as it has led to an increase in demand for these devices. Patients prefer MIS over the normal invasive surgical procedures due to decreased pain and trauma, shorter hospital stay, reduced chances of infection, and reduced costs. The introduction of modernized diagnostic and imaging systems like Picture Archiving and Communication Systems (PACS) and Radiology Information Systems (RIS) implies that all endoscopic images need to be digitally stored, thus, leading the industry towards adoption of advanced technologies with digital data storage features. Newer technologies, for instance, the advent of robotics in endoscopy have also amplified this market, as using robotic cameras inside the body makes port and tool placement simple.
Key players in the endoscopy devices market include Karl Storz, Smith & Nephew, Stryker Corporation, B. Braun, Richard Wolf, Olympus, Fujinon, and Pentax. With advancements in equipment, technologies, and related fields, demand for endoscopic equipments will continue to increase, thus driving market growth.