Endoscopy Devices Market – Latest Innovations, Drivers, Restraints, Challenges and Forecast 2013 – 2019

Besides being highly consolidated, the global endoscopy devices market exhibits cutthroat competition among the key players. The three top players dominating the market are Covidien, Ethicon, and Olympus. Together these companies held over 48% of the market based on value, in 2012, states Transparency Market Research (TMR) in a new study. These players are primarily focusing on inorganic activities such as mergers and acquisitions, creating brand loyalty among doctors, and consistent product launches across the product portfolio, which leave limited scope for the entry of new players.

Despite the prevailing competitive landscape, TMR forecasts the global endoscopy devices market to report a CAGR of 6.8% between 2013 and 2019. The market was valued at US$24.9 bn in 2012, and is expected to reach US$36.89 bn by the end of 2019. Regionally, the market is currently led by North America and Europe. However, robust economic development witnessed across its emerging economies will enable the Asia Pacific market for endoscopy devices to grow at a strong CAGR of 7.6% between 2013 and 2019.

Endoscopes, operative devices, and visualization systems are the key product types in the market. Of these, visualization systems led the market in 2012; the segment is expected to reach US$20.6 bn by the end of 2019.

Entry of Business Conglomerates Fuels Scope for Market’s Development

With the entry of business conglomerates such as Canon, Sony, and Panasonic, the endoscopy market is currently witnessing a considerable rise in investment. These enterprises are keen on mergers and acquisitions to gain a stronghold in the market. For example, in a major buyout, Covidien successfully closed the acquisition of Given Imaging Ltd in 2014. This trend is projected to fuel sales of endoscopy devices through the report’s forecast period.

Likewise, the market is expected to gain from conscious efforts by the U.S. FDA to do away with its long and arduous approval process. “The regulatory agency in the last few years has taken constructive steps to ease the approval process,” said a lead TMR analyst. This would inevitably drive the endoscopy devices market. This could also make reimbursement easier due to the reduced risk of side effects.

Furthermore, the innovation of novel technologies will provide a wider scope for application of endoscopy. Besides this, the rising demand for minimally invasive surgeries and diagnostics will fuel the demand for endoscopy systems.

High Manufacturing Cost Limits Scope for Market’s Expansion in Developing Economies

In the developing countries, manufacturers are facing difficulties due to the high cost of manufacturing endoscopy devices. These devices require highly sophisticated technologies and adequate skills in manufacturing, thereby increasing the overall cost of endoscopic devices and associated accessories.

“The inadequate supply of trained surgeons is also creating bottlenecks for the market,” the TMR report’s author observed. The observation is particularly true in case of developing economies where a lesser number of physicians is inhibiting the market’s growth.

Interpret a Competitive outlook Analysis Report with free PDF Brochure: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=225

Endoscopy Devices Manufacturers to Capitalize on Opportunities in Asia Pacific

The rising prevalence of chronic ailments is expected to create opportunities for the increased sales of endoscopy devices in the forthcoming years. For instance, the demand for endoscopy in diagnostics is expected to rise in response to the increasing incidence of cancer around the world.

The market is also expected to gain impetus from the lucrative opportunities in Asia Pacific. To capitalize on the same, several leading players are looking to venture into the market. The rising healthcare spending reported across the emerging economies of Asia Pacific, and established research and development facilities in China and India are expected fuel growth opportunities for endoscopy devices manufacturers.

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