Endotherapy Devices Market to Grow at 5.1% CAGR by 2030
Rising preference of minimally invasive treatment & advancement in technologies such as ultra-HD visualization systems are factors expected to drive the growth of Endotherapy Devices Market.
Global Endotherapy Devices Market is expected to grow at a CAGR of 5.1% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Endoscopy is a minimally invasive medical procedure for visceral organ treatment. Endotherapy is the therapeutic procedure which involves use of endoscopy for intervention inside the body. The device is a small, tube like instrument which is either placed in the body through cavities (such as anus and mouth) or incisions, especially in case of arthroscopy. Endotherapy devices are used for diseases such as colon cancer and gastrointestinal (GI) disorders.
According to the report, rising pervasiveness of diseases such as cancer and chronic pancreatitis where minimally invasive medical procedure is highly preferred, is estimated to propel the endotherapy devices market growth. Due to environmental and genetic changes, the prevalence of cancer among humans is constantly rising. According to IARC (International Agency for Research on Cancer), in 2018 there were 17.0 million new cancer cases and 9.5 million cancer deaths worldwide. Additionally, rise in elderly population which is at higher risk of such diseases is also expected to boost the growth of this market. However, lack of skilled labor, high cost of devices and infections caused by a few Endotherapy devices might hinder the market growth during the forecast period.
Based on product, the market is categorized into GI devices & accessories, ERCP devices & accessories, and others. The GI devices & accessories segment is further classified into biopsy forceps, injection needles, polypectomy snares, graspers, hemoclips, and others. The ERCP devices & accessories segment is sub segmented into guide wire, sphincterotome, catheter, extraction basket, extraction balloon, balloon dilation, plastic stent, metal stents, and others. The other Endotherapy devices & accessories segment is subdivided into mouthpiece, distal end cap, polyp trap, cleaning brush, and others. GI devices & accessories segment dominates the market and will be dominant during the forecast period.
Based on application, the market is segmented into bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuro-endoscopy, gastrointestinal endoscopy, and others. Gastrointestinal endoscopy segment dominates the market and will be dominant during the forecast period. Based on end users, the market is categorized into hospitals, clinics, and others. Hospital segment dominates the market and will be dominant during the forecast period. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographically, North American market is expected to grow significantly owing to its advanced healthcare industry, consistently increasing geriatric population, rising adoption of minimally invasive surgeries and presence of major key players. However, emerging economies such as the countries in Asia-Pacific region are also expected to grow owing to the consistent increase in population and rising government support for the wellbeing of its citizens.
Browse key industry insights from the report, “Global Endotherapy Devices Market by Product (GI Devices & Accessories, ERCP Devices & Accessories, and Other Endotherapy Devices & Accessories and Others), Application (Bronchoscopy, Arthroscopy, Laparoscopy, Urology Endoscopy, Neuro-endoscopy, Gastrointestinal Endoscopy, and Other), and End Users (Hospitals, Clinics, and Others) - Global Opportunity Analysis and Industry Forecast, 2020-2030” in detail along with the table of contents.
According to the report, some the key players in the global endotherapy devices market are Hoya Corporation, Olympus Corporation, Stryker Corporation, Boston Scientific Corporation, Fujifilm Holdings Corporation, Conmed Corporation Medtronic Plc., Karl Storz GmbH & Co. KG, Smith & Nephew, Plc, and Johnson & Johnson., B. Braun Melsungen AG and others.
Key Insights from the Endotherapy Devices Market Report:
- This study presents the analytical depiction of the global endotherapy devices market trends and future estimations to determine the imminent investment pockets.
- A detailed analysis of the endotherapy devices market size and segments measures the potential of the market. These segments outline the favourable conditions for the market.
The report Global Endotherapy Devices market– segmented by product, application, end user, and geography.
Get a free sample on the Global Endotherapy Devices Market report
About Next Move Strategy Consulting
Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.
We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services provide an excellent client experience and ensure right strategic decision making for businesses.
For more insights, please visit, https://www.nextmsc.com
Leave a Reply