Technavio, a tech-focused market research firm, has published a new report on the global GI endoscopy devices market, which is expected to experience a moderate growth rate with a CAGR of more than 5% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global GI endoscopy devices market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global GI endoscopy devices market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global GI endoscopy devices market for 2015 (market share %)
|
Americas |
46.92% |
|
EMEA |
31,03% |
|
APAC |
22.05% |
Source: Technavio
GI endoscopy devices market in the Americas
In 2015, the Americas accounted for around 47% share of the GI endoscopy devices market. The market in the Americas is expected to be benefited from the growing incidence of several GI disorders such as biliary disease, pancreatic cancers, and inflammatory bowel disease.
According to Barath Palada, a lead analyst at Technavio, specializing in research on orthopedics and general medical devices, “The market is expected to experience high adoption of colonoscopies owing to its benefits such as efficiency and its ability to accelerate the diagnosis and treatment of colon cancer at the same time. Moreover, the growing public awareness regarding the risks of colorectal cancer and the benefits of early treatment have also augmented the adoption rates.”
The increased implementation of GI endoscopy devices is likely to persist in the market owing to the growing older population in the US. This rising demand for colorectal cancer screening is a primary driver for the GI endoscopy devices market in the Americas, particularly for GI endoscopes and instrumentation.
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GI endoscopy devices market in EMEA
The rising occurrence of GI disorders is expected to drive the GI endoscopy devices market in Europe. Besides this, the emergence of hemostatic devices in the market is likely to fuel the market growth owing to its capability to detect polyps in the intestine. The development of flexible GI endoscopes will have a positive impact on the market during the forecast period. The launch of new endoscopy devices for the treatment of GI diseases along with the emergence of advanced imaging systems further contribute to the market growth in EMEA.
Global GI endoscopy devices market in APAC
The GI endoscopy market in APAC is expected to be benefited from growing prevalence of GI disorders. The increasing demand and affordability for reusable endoscopy devices particularly in South Korea and Australia, are expected to drive the market. Moreover, the expansion of health insurance coverage and the increase in product launches in APAC is expected to increase demand for GI endoscopy devices. The growing initiatives of vendors to progress the awareness of GI intestinal screening procedures are also expected to drive the adoption rates. They are targeting developing countries such as India and China by the establishment of multiple training centers and repair facilities.
The top leading vendors operating in the global GI endoscopy devices market are:
- Boston Scientific
- Ethicon
- Medtronic
- Karl Storz
- Olympus
Other prominent vendors in the market include Applied Medical, asap endoscopic products, B. Braun Melsungen, CareFusion, Check-Cap, Chongqing Jinshan Science & Technology, CONMED, COOK MEDICAL, Endocure Technologies, EndoLook, Fujifilm, Gyrus ACMI, Hobbs Medical, IMRIS, Integra LifeSciences, IntroMedic, Maxer Medizintechnik, Metro-Med, Micro-Tech USA, PENTAX Medical, Richard Wolf, SMART Medical Systems, Smith and Nephew, STERIS, Stryker, SynMed, Ventura Business Solutions, and Vimex.
A more detailed analysis is available in the Technavio report titled, ‘Global GI Endoscopy Devices Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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