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Global Endoscopy Devices Market Adopts New Trends

By HospiMedica International staff writers
Posted on 28 Jul 2014
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Consistent technological advances have added new products to the global endoscopy devices market and expanded its boundaries. These are the latest findings of Transparency Market Research (Albany, NY, USA), a global market intelligence company.

Endoscopy procedures can be diagnostic as well as operative, and since they are minimally invasive procedures, they provide various advantages over open surgery such as reduced blood loss, reduced chances of infection, shorter hospital stay, and quick recovery. Due to these advantages, the adoption of endoscopy is increasing rapidly in various areas of surgery including gastrointestinal (GI), urological, ear, nose, and throat (ENT), cardiovascular, joint surgeries, and especially in the field of oncology.

Modern endoscopes, also known as videoscopes, deliver better image quality and are more durable than conventional fiberoptic endoscopes, which get damaged easily. This is a major driver for the market, and the technology is expected to replace fiberoptic and rod-lens systems in the near future. Another revolution in the endoscopy market is the capsule endoscope, which possesses a built-in camera unit and wireless transmission system to deliver high quality images to external receiver as they pass through the gastrointestinal tract. Given Imaging (recently acquired by Covidien) accounts for about 85% of the global capsule endoscopy market share.

The development of chromoendoscopy has added another dimension to the evolving market of endoscopy. Three dimensional (3D) camera systems have improved the depth perception and hence reduced errors during surgery, further reducing overall surgery time. Other developments, such endoscopic ultrasound devices, allow doctors to effectively diagnose the intestinal tract, difficult to diagnose with traditional ultrasound devices. But some factors impede the acceptance of several endoscopic devices; prominent among these is the high cost of latest technology devices, which has delayed penetration in developing countries. Lack of skilled professionals is also a major concern for the market to develop.

Considering various market dynamics, companies are eying Asian countries such as India, China, and Japan for lucrative opportunities. Rapidly developing economic condition, improving healthcare sector, available disposable income, and large consumer base to high prevalence of disease will drive the endoscopy devices market in these countries. According to Transparency Market Research, the global endoscopy devices market was valued at USD 24.9 billion in 2012, and is expected to grow at a compound annual growth rate (CAGR) of 6.8%, to reach an estimated value of USD 36.9 billion in 2019.

An endoscopy system is comprised of an endoscope; a visualization system, including a camera, control unit, illumination devices, image processing devices, and a display; and various specialized operative instruments, such as energy systems, suction/irrigation systems, access devices, operative hand instruments, comprised of various hand held devices such as graspers, forceps, suture passers, scissors and others. Other potential devices that can be mounted include insufflation devices, wound protector, and snares.

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