Endoscopy Devices Market

The global endoscopy device market is growing at a CAGR of 7% between 2014 and 2020 and is expected to reach a $42 billion by 2020. Endoscopy has become a popular tool for diagnosis as well as for minimally invasive surgical procedures. Endoscopy as a diagnostic tool is used for examining the organs and cavities that are not normally visible to the human eye. With the increasing incidences of gastrointestinal diseases and cancers of the stomach and digestive tract, endoscopy is the most widely used procedure and the driver to the endoscope device market. Laparoscopy is using endoscopes for performing a minimally invasive surgery. The doctors and surgeons globally prefer this procedure because of the number of advantages associated with it such as minimal invasiveness, smaller incisions, faster recovery and lesser risk of infections. Laparoscopy is used not only for routine procedures like appendectomy but also for complex cardiac surgeries. Rigid endoscopes and flexible endoscopes are used for routine medical investigations. Rigid endoscopes are preferred for examining organs like nose (Rhinoscopy), larynx (Laryngoscopy) and surgical procedures of the joints (arthroscopy). These endoscopes have a fixed tube and do not flex. Flexible endoscopes on the other hand have a flexible shaft and are preferred for investigating the internal organs and hold a larger market share in comparison to the rigid type. Capsule Endoscopyis the more advanced technique and is booming because of the precision of the technology, the low risk and considerably less pain associated with the procedure.This is the most preferred among all endoscopic investigative procedures. The use of endoscopes in surgical procedures has revolutionized the medical industry. Surgical endoscopy (Laparoscopy) procedures apart from having advantages like minimal invasiveness and fast recovery, they are aesthetically preferred because only a small incision is made unlike old surgical procedures and leaves only a smaller scar. This technology has an increasing demand globally because of the increasing procedural volumes, the affordability of the procedure and the demand for less invasive surgeries. The more advanced form of surgical endoscopy is the Robot assisted endoscopy. These are preferred in complex procedures that require utmost precision and accuracy. Along the endoscopy device market, the sub markets are also fast growing as this technology requires the use of advanced high resolution cameras, small pill sized cameras and light delivery systems. Thus there is a rising market trend in all the sub markets. GrcCSafk
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