Flexible endoscope is an optical instrument which is used to examine or detect problems in interior part of body. In past few years the demand of flexible endoscopes has been increased in operation rooms and pre surgery treatments as it minimizes the post-surgery complications. Rapid growth in ageing population suffering from cancer and gastrointestinal infections is raising the patient preference towards endoscopy, thus increasing the demand of flexible endoscopes devices. In 2016, nearly 22 million people suffered from chronic gastroesophageal reflux disorder (GERD), out of which only 12 million people used medical treatments. Increasing demand of endoscopy is contributing in favorable reimbursement policies that are significantly boosting the requirement of flexible endoscopes in gastrointestinal diagnosis. Minimal invasive therapy is an advanced innovation in endoscopic procedure. Top players of the market are introducing equipment with advance designs to provide comfort and precision during diagnosis. In January 2016, Boston Scientific Corporation introduced LithoVu, a single-use digital flexible ureteroscope to diagnose and treat stones for minimally invasive surgery. This new flexible ureteroscopes is a cost-effective solution which helps in providing high resolution images and accurate navigation.
Flexible Endoscopes Market Size
According to the latest reports published by Research Cosmos, the Global Flexible Endoscopes Market accounted for more than USD 3.92 million in 2016 and is expected to grow at a CAGR of around 6.13%, to reach USD 6.31 million by the end of 2024.
Drivers and Restraints:
Rising health awareness and demand for early stage diagnosis is propelling the demand of flexible endoscopes in invasive surgeries. Growing popularity of minimally invasive therapies and advancement in medical system is boosting the flexible endoscopes market. Increase in investment of endoscopy instruments by hospitals due to rising patient preference for minimally invasive surgeries and favorable reimbursement policies is driving the growth of flexible endoscopes market. Technological advancement, rising investment by government, growing prevalence of chronic health conditions and geriatric population which requires endoscopy procedures are major factors accelerating the flexible endoscopes market across the globe. Stomach infection, perforation, or a tear of the stomach or esophagus lining and bleeding during the process of endoscopy is limiting the patient preference for flexible endoscopes. Changing regulations related with medical equipment and worldwide currency devaluation is majorly impacting the flexible endoscopes business.
Geographic Segmentation:
Geographically, the global market has been divided into regions like North America, Europe, Asia pacific, Middle East and Africa, and Latin America. Global Flexible Endoscopes Market has been mainly dominated by North America followed by Europe. Europe is expected to contribute the second-largest share to the market.
Key Players:
The market analysis includes major companies like Ethicon, Inc, Olympus Corporation, Boston Scientific Corporation, Pentax Medical Corporation, Stryker Corporation, Medtronic plc, FUJIFILM Holdings, and KARL STORZ.
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