Albany, New York, March 29, 2017: MarketResearchReports.biz has announced the addition of a report, titled “Global Gastrointestinal Endoscopy Devices Market 2016-2020,” to its offerings. As per the findings of the report, the global gastrointestinal endoscopy devices market is estimated to register a CAGR of more than 5% from 2016 and 2020.
The expanding base of patient population suffering from gastrointestinal disorders is by far the leading factor augmenting the global gastrointestinal endoscopy devices market. The growing popularity of minimally invasive procedures is providing a fillip to the market. Conventional open surgeries involve several complications, which compels healthcare centers to adopt safer alternatives, thereby triggering the adoption of gastrointestinal endoscopy devices across the world. Moreover, the increasing number of product approvals and rapid technological advancements are stoking the market.
On the other hand, the high costs of these devices make their affordability difficult for low to middle-income people, thereby hampering the growth of the market. Furthermore, the dearth of trained physicians is negatively impacting the growth of the market. However, the rising adoption of wireless capsule endoscopy and the emergence of nanotechnology are unfolding ample growth opportunities for the market.
On the basis of product, the global gastrointestinal endoscopy market is segmented into instruments and accessories, services, and gastrointestinal endoscopes. The instruments and accessories segment will continue to account for the leading revenue share in the market until 2020. They need to be frequently replaced and hence generate recurring revenue, which appreciates the overall revenue generation of the market.
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The key regions studied in the report are Asia Pacific, Americas, and Europe, Middle East, and Africa (EMEA). The Americas will continue to dominate the global market in terms of revenue until 2020. The presence of advanced healthcare infrastructure is one of the primary factors fuelling the growth of the region. EMEA will also be a prominent destination for global players, owing to the emergence of guidelines from the European Society of Gastrointestinal Endoscopy (ESGE) and the United European Gastroenterology (UEG), which is boosting the adoption of gastrointestinal endoscopy devices in the region.
The presence of a large number of players has rendered the global gastrointestinal endoscopy devices market highly competitive and fragmented. Companies in the market are competing against each other in terms of capital investment, product differentiation, technology upgradation, pricing, and distribution partnerships. Launches of new products and advancements in technology are expected to intensify the competition in the market in the near future.
The leading players in the global gastrointestinal endoscopy devices market are Medtronic, Olympus, Boston Scientific, Ethicon, and Karl Storz. Some other key companies operating in the market are Applied Medical, B. Braun Melsungen, Chongqing Jinshan Science & Technology, CareFusion, Cook Medical, Conmed, Endocure Technologies, Fujifilm, EndoLook, Hobbs Medical, Gyrus ACMI, Integra LifeSciences, Metro-Med, Richard Wolf, Ventura Business Solutions, Smith and Nephew, Stryker, and Vimex.
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