Endoscopy Equipment Market Driven by Growing Prevalence of Gastroenterological Disorders in Developed Regions
The Global Endoscopy Equipment Market is likely to exhibit a strong 4% CAGR in the 2017-2022 forecast period, rising from a likely 2017-end valuation of US$27.5 bn to US$33.5 bn by the end of 2022. Analysts at Transparency Market Research have attributed the growth of the endoscopy equipment market to a number of factors.The rapid advancement of the medical devices sector and the steady availability of funding for product enhancement is likely to remain the prime driver for the global endoscopy equipment market in the coming years. Product development has become a major strategy for players in the medical devices sector due to the steady availability of technological advances that allow for the production of better products and rising competition in the sector. The endoscopy equipment market is likely to benefit from this trend significantly in the coming years due to the rising number of players looking to carve out a significant share in the market, which has served to boost competition.
The rapid growth of the healthcare sector in developing economies in Asia Pacific except Japan (APEJ) is likely to be a major driver for the global endoscopy equipment market in the coming years. The APEJ market for endoscopy equipment is likely to exhibit a strong 4.1% CAGR over the 2017-2022 forecast period, enabling a steady rise of the regional market to a valuation of more than US$7.5 bn by the end of 2022. Countries such as China, Korea, Taiwan, Indonesia, Malaysia, and India are likely to be crucial to the endoscopy equipment market in the coming years due to the growing adoption of Western lifestyles in the region and growing government support to advancement of the healthcare and medical devices sector.
Leading players in the increasingly competitive global endoscopy equipment market include Arthrex Inc., Stryker Corporation, B. Braun Melsungen AG, Boston Scientific Corporation, Olympus Corporation, Cook Medical Inc., Karl Storz GmbH & Co. KG, Smith & Nephew Plc, Fujifilm Holdings Corporation, and Medtronic Plc.
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